Hungarian August Trade Deficit Narrows; Industrial Output Grows

Oct 9, 2007 - The Hungarian trade deficit narrowed to EUR211.1 million in August from EUR348.6 million deficit registered last year, the statistical office said Tuesday. Economists expected a trade deficit of EUR167.0 million for the month of August. The value of exports amounted to EUR5.34 billion in August, while imports totaled EUR5.56 billion.

During the eight months ended August, the trade deficit was EUR830.6 million versus EUR1.946 billion deficit reported over the same period last year. The value of exports stood at EUR43.81 billion and imports were valued at EUR44.65 billion.

Hungarian industrial output increased 9.5% year-on-year in August, the Statistical Office said Tuesday. Meanwhile, the industrial output index adjusted by working days rose 12.2% in August from the previous year. Economists expected an annual increase of 10.3% for the month of August.

The report stated that the volume of industrial output climbed 0.9% in August from the previous month, on a seasonally and by working-day adjusted basis.

During the eight months ended August, the volume of industrial production improved 9.0% over the same period last year.