Deteriorating Trade and Deficit Figures in Hungary

By the end of April, 83% of the full-year deficit of HUF 3,152.7 billion planned for the public finances had been reached in Hungary. The value of Hungarian exports was 8.7% and that of Hungarian imports 23% larger in EUR terms in March 2022 than in the same period of the previous year.

According to data released by the Finance Ministry on Tuesday, the deficit of HUF 2,635.6 billion is HUF 326 billion higher than the more than 2,300 billion forints accumulated by the end of March (roughly double the deficit in the first quarter of last year).

The Central Statistical Office reports that with the growing gap between exports and imports in March, the balance of external trade in goods deteriorated by EUR 1.4 billion.

In March 2022:

The value of exports amounted to EUR 12,120 million (HUF 4,566 billion) and that of imports to EUR 12,623 million (HUF 4,754 billion).

The deficit on external trade in goods was EUR 503 million (HUF 118 billion).

The share of EU Member States (EU27_2020) was 78% in exports and 72% in imports.

In March 2022 compared to a year earlier:

The value of exports increased by 8.7% and that of imports by 23% in EUR terms.