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Friday, August 08, 2008

Hungary's June trade surplus narrowed when compared with June last year as the economic slowdown in the European Union curbed export demand and rising fuel costs increased import growth.

The surplus, the fifth consecutive on this year, totaled 100.3 million euros ($208.9 million), compared with 27.5 million euros in May and 137.2 million euros in June last year. The figures are preliminary.

Imports increased 8.4 percent in euro terms in June from a year ago, outpacing exports, which rose 7.6 percent. In the first six months, the surplus was 468.3 million euros, compared with a deficit of 165.3 million euros a year earlier.

So exports rose slightly from May's poor showing, but the general trend is down, and looking at the data coming in from the eurozone economies it is unlikely to turn up again in the near future.

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