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Covid-19 Lockdown Causes Export and Import fall

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The Covid-19 lockdown caused double-digit declines in Hungary’s exports and imports in April, data released by the Central Statistical Office (KSH) shows.

Exports fell by 37.2 percent to 5.620 billion euros, while imports dropped 29.1 percent to 6.181 billion euros.

The unusual and sizable trade deficit was probably partly the result of imports of goods for pandemic defence. Hungary’s government had spent almost EUR 1.1bn to acquire personal protective equipment and ventilators between the start of the pandemic and the end of April.

During period January-April, exports fell by 9.2 percent year-on-year to 33.339 billion euros and imports dropped 7.6 percent to 32.045 billion euros.