The trade balance may improve if exports starts to grow

Due to the decline in domestic demand, import growth is expected to remain below the growth of export. Export in favorable conditions can recover for the end of the year, which can improve the balance of trade – told analyst interviewed by MTI. The Ministry of National Economy (NGM) drew attention that trade closed last November with surplus.

In January-November last year, the value of export was 74.6 billion euros (21,635 billion HUF), while the value of import was 67.9 billion euros (19,688 billion HUF). The trade balance surplus was 6.7 billion euros (1947 billion HUF), 59 billion HUF more, however, due to changes in the exchange rate, it worth 23 million less in euros, than in the same period in 2011. (MTI)