The fall in Hungary’s exports and imports continued to slow in June, recovering from a lockdown plunge in April, preliminary data released by the Central Statistical Office (KSH) show.
Exports fell by 3.1% to 8.5 billion euros and imports dropped by 5.7% to 7.9 billion euros. The trade surplus came to 697 million, growing by 201 million euros from the same month a year earlier. Trade with other European Union member states accounted for about 78% of exports and 68% of imports. In April, while restrictions were in place to contain the spread of the novel coronavirus, exports fell by over 37% and imports dropped by over 29%. The country also registered a rare trade deficit for the month, in part because of imports of personal protective equipment and ventilators. The decline in trade volume moderated in May, when exports fell by 29% and imports dropped by 26%, and the trade balance returned to positive.