Slowing exports, while weak domestic consumption slows down imports

In March, the forint value of exports increased by 3.5, the forint value of imports by 6.7 percent – the Central Statistical Office announced on Wednesday. Export value in euros declined on a year to year comparision for the first time since 26 months.

According to the the first estimate, the export value in March this year was 2.054 billion (7.060 million euros), while the value of import was 1.876 billion HUF (6.452 million euros). The foreign trade balance in March showed a 178 billion HUF (608 million euros) surplus, which represents a 48 billion HUF (228 millioneuros) deterioration, compared to the same period of the previous year. (MTI)