Hungary’s trade surplus narrowed sharply to EUR 69 million in July 2026 from EUR 503 million in the corresponding month a year ago, and well below market expectations of a EUR 1,305 million surplus. This marked the smallest surplus since a deficit in July 2024, as exports rose less than imports. Exports grew 10.8% year-on-year to EUR 13,661 million in July, driven by increased shipments of machinery and transport equipment, though partly offset by weaker exports of manufactured goods. Meanwhile, imports climbed 14.9% to EUR 13,592 million, supported by higher purchases of machinery and transport equipment, though curbed by a decrease in manufactured goods. For the first seven months of the year, the country’s trade surplus fell to EUR 4,981 million from EUR 6,361 million in the same period last year.