January trade deficit doubles yr/yr
Tuesday, March 29, 2005, 00:00
In January, the volume of Hungary?s exports and imports increased by 9% and 11% year-on-year, respectively, the Central Statistics Office (KSH) reported. The first month?s trade deficit totaled Ft 43 billion, up 21 billion from January 2004. The value of exports went up by 4% to Ft 849 billion in the twelve months to January 2005, while import value rose 6% reaching Ft 892 billion. Hungary exported 5% more goods to EU countries and imported 2% more from the same than a year earlier. In the meantime, exports and imports between Hungary and non-EU states jumped 32% and 38%, respectively. Import statistics are significantly affected by the fact that goods originating from Far East countries and imported via the EU are now classified as direct Asian imports, whereas in January 2004 they were registered as imports from EU countries. As a result, the value of Asian imports was 42% higher statistically than a year earlier.