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Friday, March 07, 2008

Hungary External Trade January 2008

Hungary had a trade deficit of EUR 70.5 million in January 2008, according to first estimate figures released by the Central Statistics Office (KSH) on Friday. The figure compares with a deficit of EUR 219.3 million in January 2007. Exports in January 2008 reached EUR 5,930 m, up 16.4% year on January 2007, while imports were running at EUR 6,000 m, 12.9% up on January 2007. (Detailed trade data will be available on 4 April).

Looking at the year on year change chart the improvement since October is evident, and confirms the impression we have been getting from the industrial output data. My feeling is that the future trend here depends on what happens next in Germany.

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