Hungary’s trade balance swung to a deficit in March, as the increase in imports exceeded the exports growth, data from the Hungarian Central Statistical Office showed on Monday.
The trade balance registered a deficit of EUR 503 million in March versus a surplus of EUR 851 million in the same month last year. Economists had forecast a deficit of EUR 225 million.
In February, the trade deficit was EUR 117 million.
On a yearly basis, growth in exports eased sharply to 8.7 percent from 18.7 percent in February.
Imports rose 22.6 percent annually in March, after a 30.5 percent growth in the preceding month.
On a month-on-month basis, exports and imports rose 5.4 percent and 8.7 percent, respectively.
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