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Friday, May 09, 2008

Hungary External Trade March (Preliminary)

Hungary had a trade surplus in March for a second consecutive month as exports rose faster than imports. The surplus was 169.6 million euros, compared with 157 million euros the month before and 118.3 million euros in March last year, the Hungarian statistics office (KSH) said today.

The trade shortfall has been shrinking for two years as exports picked up and government measures to reduce the budget deficit have weakened consumer demand for imports.

Exports rose 3.9 percent from a year ago and imports increased 3.1 percent. In the month, Hungary sold 75 percent of its exports to the European Union, with 69 percent of imports arriving from within the EU.

The growth in exports of only 3.9% was down considerably from the much higher rates achieved in January and February, and this is the number to watch for in the months ahead.

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