2023.07.1013:48:00UTC+00Hungary Trade Balance Swings To Surplus

Hungary's trade balance turned to a surplus in May from a deficit in the previous year as exports rose amid a fall in imports, preliminary data from the Hungarian Central Statistical Office showed on Monday.

The trade balance logged a surplus of EUR 1.1 billion in May versus a deficit of EUR 223 million in the corresponding month last year.

In April, there was a surplus of EUR 366 million.

Exports climbed 5.2 percent year-over-year in May, while imports fell by 5.4 percent.

The share of EU member states was 77 percent in exports and 69 percent in imports, the agency said.

On a monthly basis, both exports and imports plunged by 13.0 percent and 7.3 percent, respectively.