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Economic Diplomacy/Sole 24 Ore – Hungary: Second quarter annual GDP growth of 0,5%

Hungary: Second quarter annual GDP growth of 0,5%

According to the Hungarian Statistics Office (KSH), Hungary showed annual GDP growth for the second quarter of 0.5%, up by 0.1% as compared with the first quarter, thanks to improvements in the construction and farming sectors. Especially significant were investments in fixed capital, which were up 4.6% annually – the first increase in six years. The trade balance for the first half of the year showed a surplus of 3.5 billion euro, despite a 2.9% drop in exports, while imports rose by 1.1%. Between January and June 2013 Hungary’s exports amounted to 40.4 billion euro, and imports stood at 26.9 billion euro. China grew as a supplier to Hungary, a context that included a 3-year currency swap between the Hungarian and Chinese central banks for a value of 10 billion yuan (1.2 billion euro).


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