Hungary’s trade balance showed a 117 million euro deficit in February, the Central Statistical Office (KSH) confirmed in a second reading of data.
In Hungary, an export-driven economy where trade surpluses are the norm, had a trade deficit for the eighth month in a row, KSH said. Exports rose by an annual 18.7% to 11.500 billion euros and imports climbed by 30.5% to 11.617 billion euros. Trade with other European Union member states accounted for 76% of exports and 70% of imports. Hungary’s terms of trade deteriorated by 7.1% during the period as the forint edged up 0.3% to the euro but weakened by 6.3% against the dollar.