FX.co ★ Hungary Trade Surplus Narrows Sharply in July

Hungary’s trade surplus narrowed sharply to EUR 69 million in July 2026 from EUR 503 million in the same month a year earlier, falling well below market expectations of a EUR 1,305 million surplus. This was the smallest positive balance since the deficit recorded in July 2024, as export growth lagged behind that of imports. Exports increased 10.8% year-on-year to EUR 13,661 million, driven mainly by higher shipments of machinery and transport equipment, partially offset by weaker sales of manufactured goods. Imports, meanwhile, rose 14.9% to EUR 13,592 million, supported by stronger purchases of machinery and transport equipment, though tempered by a decline in manufactured goods. Over the first seven months of the year, the country’s trade surplus shrank to EUR 4,981 million from EUR 6,361 million in the corresponding period a year earlier.