Trade Balance in Hungary
Hungary - Trade BalanceThe pace of annual GDP growth accelerated in Q1 2022, as activity was underpinned by robust consumer spending amid a tight labor market and soaring wages, while fixed investment posted a faster increase. Moreover, exports recorded a healthy expansion. The rate of economic growth should moderate in Q2, partially due to a waning low base effect. Inflation spiked further in April, sending consumer sentiment plunging in May, which will be weighing on household spending. That said, business confidence was higher on average in April-May than in Q1, pointing to healthy investment. However, the introduction of a temporary windfall tax on banks’ and companies’ profits—to rein in the public deficit—stirred investor concern and lead to stock market losses in late May. Moreover, the government recently assumed emergency powers because of the Russia-Ukraine war, allowing it to rule by decree.
Hungary - Trade Balance Data
|Trade Balance (USD billion)||9.5||10.8||9.1||6.6||5.4|
5 years of economic forecasts for more than 30 economic indicators.
Hungary Trade Balance Chart
Source: National Bank of Hungary.
|Bond Yield||2.08||0.0 %||Dec 31|
|Exchange Rate||295.1||-0.68 %||Jan 01|
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December 1, 2022
GDP growth moderated to 4.0% year on year (yoy) in the third quarter, from 6.5% in the second quarter.
November 30, 2022
The GKI economic sentiment index, a composite indicator, fell to minus 22.5 in November from minus 21.9 in October.
November 22, 2022
At its 22 November meeting, the Monetary Council of the Hungarian National Bank (MNB) left its base rate unchanged at 13.00% for the second consecutive meeting.
November 15, 2022
According to a second estimate by the Statistical Institute, industrial output rose 11.6% in year-on-year terms in September, which followed August's 9.1% increase.
November 15, 2022
According to a preliminary reading, the economy shrank 0.4% on a seasonally adjusted quarter-on-quarter basis in the third quarter, contrasting Q2’s 0.8% increase.