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Trade gap widens in January

Hungary had a 413 million euro trade deficit in January, a second reading of data released by the Central Statistical Office (KSH) on Friday shows.

The deficit widened from 168 million euros in December, but was still well under the 1.395 billion euros gap in November. In the first reading, published on March 10, KSH had put the January deficit at 165 million euros.

Exports rose by 16.6 percent year-on-year to 12.214 billion euros, while imports increased by 17.8 percent to 12.627 billion euros.

Trade with other European Union member states accounted for 78 percent of Hungary’s exports and 67 percent of its imports during the month.

Hungary’s terms of trade improved 1 percent during the period even as the forint weakened 10 percent to the euro and slipped 16 percent against the dollar.

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