EUR 271 mln Trade Deficit in December
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Hungary had a EUR 271 million trade deficit in December, the first negative balance in almost a year, according to a second reading of data by the Central Statistical Office (KSH) released recently.
Exports slipped 9.1% year-on-year to EUR 10.211 billion. Imports dropped 9% to EUR 10.482 bln.
KSH noted that energy imports had climbed 56.8% in December on the back of higher gas deliveries, while exports of machinery and transport equipment fell 12.7%, despite a modest increase in the export of vehicles.
Trade with other European Union member states accounted for 75% of Hungary's exports and 66% of its imports during the month.
Hungary's terms of trade improved 8.3% as the forint firmed 6.3% to the euro and 9% against the dollar. Hungary's exports rose 4.7% to EUR 148.189 bln for the full year, and imports fell 7.7% to EUR 140.015 bln.
The trade surplus reached EUR 9.173 bln.
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