Hungary recorded a trade deficit of EUR 121 million in November 2025, shifting from a surplus of EUR 644 million in the same month a year ago, and well below market expectations of a EUR 713 million surplus. This marked the first month of trade deficit since July 2024 and the largest in nearly two years, as exports fell while imports rose. Year-on-year, exports dropped by 1.8% to EUR 12,434 million, while imports increased by 4.4% to EUR 12,555 million. Considering the first eleven months of the year, the country’s trade surplus narrowed to EUR 7,755 million from EUR 8,323 million in the same period last year.