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Hungary revises July trade deficit lower to €325 mln

Hungary's trade deficit was €324.9 million in July, revised down €2.6 million from a preliminary €327.5 million deficit published on September 8, and down €161.6 million from a year earlier, the Central Statistics Office (KSH) reported on Tuesday in a second reading of the figures. The January-July trade deficit came to €1.421 billion, €3 million less than the preliminary figure, and €195 million less than in same period in 2005. In euro terms, July exports rose 16.8% year-on-year to €4.441 billion and January-July exports increased 16.2% year-on-year to €32.187 billion. Euro-term imports were up 11.2% year-on-year at €4.766 billion in July and they rose 14.6% year-on-year in January-July to €33.608 billion. In volume terms, exports were up 17.8% year-on-year in July and imports rose 10.6%. Seven-month export volume rose 16% year-on-year and import volumes increased 11.9%. January-July forint-term export prices rose 6.3% and import prices rose 8.7% from a year earlier. In foreign exchange terms, export prices were unchanged and import prices rose 2%, taking into account a 7% weakening of the forint in the period. Hungary's terms of trade worsened 2% in the first seven months which continued to reflect rising energy prices. (Mti-Eco, Bloomberg)