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HUNGARY POSTS EUR 1.6 BN TRADE DEFICIT IN AUG

 

Hungary posted a trade deficit of 1.580 billion euros in August, the Central Statistical Office (KSH) said in a second reading of data on Wednesday. The gap, up from a 1.298 billion euro deficit in July, was the widest in a series of consecutive monthly deficits running for more than a year. Exports rose by an annual 36.8% to 11.442 billion euros, while imports increased by 43.4% to 13.022 billion. Trade with other European Union member states accounted for 75% of Hungary’s exports and 69% of its imports. It had a 442 million euro trade deficit with other EU members. Hungary’s terms of trade deteriorated by 7.9% in August from the same month a year earlier as the forint weakened by 14% to the euro and 33% against the dollar. In the January-August period, Hungary’s trade deficit was 5.055 billion euros. Exports rose by 18.6% to 91.917 billion euros, while imports grew by 29.3% to 96.972 billion euros.