Positive Growth: Hungary’s Imports and Exports Rise in March
Hungary Achieves EUR 1.768 Billion Trade Surplus in March
Hungary’s Central Statistics Office (KSH) has announced a significant trade surplus of EUR 1.768 billion for March. This marks a robust performance as exports grew by 8.5% year-on-year, reaching EUR 13.386 billion, while imports rose by 8.1% to EUR 11.618 billion.
The data reveals that trade with other European Union member states constituted a substantial portion of Hungary’s trade landscape, accounting for 74% of exports and 72% of imports during the month. Notably, exports to non-EU countries witnessed an impressive surge of 18%, with imports from those regions also expanding by 10%.
Furthermore, Hungary’s terms of trade improved by 1.8% in this period, despite a slight depreciation of the forint, which weakened by 1.1% against the euro and 1.7% against the dollar. For the first quarter of the year, Hungary recorded an overall trade surplus of EUR 3.924 billion, with exports increasing by 2.9% to EUR 37.636 billion and imports rising by 3.1% to EUR 33.711 billion.
This positive trade dynamic underscores Hungary’s resilience in the face of broader economic challenges, as highlighted by recent reports on GDP changes in the EU. According to Hungarian Finance Minister Péter Szijjártó, the introduction of new industrial capacities is expected to further bolster economic growth.
As Hungary continues to strengthen its trade relationships both within and outside the EU, it remains a key player in the regional economic landscape.
