FX.co ★ Hungary Trade Balance Swings To Deficit

Hungary's trade balance swung to a deficit in April, as the increase in imports exceeded the exports growth, data from the Hungarian Central Statistical Office showed on Wednesday.

The trade balance logged a deficit of EUR 475 million in April versus a surplus of EUR 338 million in the same month last year. Economists had forecast a deficit of EUR 550 million.

In March, the trade deficit was EUR 708 million.

On a yearly basis, exports increased 12.1 percent in April, following an 8.8 percent in March.

Imports rose 21.1 percent annually in April, after a 24.7 percent growth in the preceding month.

On a month-on-month basis, exports and imports rose 8.9 percent and 10.0 percent, respectively.