External trade surplus up to €730 mln in May

In May, compared to the same month of the previous year, the export volume was up by 9.7%, while the import volume grew by 9.2%. The value of exports amounted to €7.6 billion, and that of imports to €6.9 bln, the KSH said. Exports increased by 6.3% and imports by 2.9% in euro terms, it added. 

The volume of machinery and transport equipment exports grew by 10.3%, and imports by 6.6% in May. The export and import volumes of manufactured goods increased by 11% and 14%, respectively. The import volume of fuels and electrical energy grew by 6.6%. The export volume of food, beverages and tobacco increased by 8.5%, and their import volume by 7.3%.

The volume of exports to EU member states grew by 12%, and that of imports by 9.1%, according to KSH data. The surplus in Hungary’s trade with EU member states increased by €242 mln, amounting to €843 mln. The share of total trade with these countries was 81% in exports, and 77% in imports.

In non-EU trade, the volume of exports increased by 1.2% and that of imports by 8.9%, the KSH said. The trade balance with this group of countries improved by €17 mln, resulting in a deficit of €114 mln.

In the period January–May, the value of exports amounted to €38.3 bln and that of imports to €34.1 bln, while the volume of exports increased by 5.4% and that of imports by 6.3% compared to the same period a year earlier.

In the first five months of the year, the surplus in the trade balance increased by €695 mln, amounting to €4.2 bln in total.

The forint price level of external trade in goods decreased by 0.3% in exports and by 2.7% in imports, KSH reported, adding that the terms of trade thus improved by 2.5%. The forint exchange rate depreciated by 1.9% against the euro, and by 2.0% against the dollar.