KSH: Hungary’s trade surplus revised downward to €497 mln

In year-on-year terms the increase in the volume of machinery and transport equipment was 12% in exports and 11% in imports. The export and import volumes of manufactured goods were up by 4.2% and 6.9%, respectively. The import volume of fuels and electric energy was 12% higher. The export and import volumes of food, beverages and tobacco increased by 6.0% and 2.4%, respectively.

In the first four months of the year, the value of exports amounted to €29.9 bln, while that of imports reached €27.0 bln. The surplus on the trade balance was €3 bln, which was €515 mln more than in the same period of the previous year. The forint price level of external trade in goods decreased by 1.9% in imports and 1.5% in exports. The forint exchange rate was up by 0.4% against the euro and down by 23% against the dollar. The terms of trade improved by 0.4%.

In intra-EU-trade, export and import volumes grew by 9% and 10%, respectively. The surplus on Hungaryʼs trade with EU member states was  €3 bln, €68 mln less than in the same period of the previous year. The share of European Union Member States was 79% in exports and 77% in imports. In extra-EU trade, the volume of exports grew by 11% and that of imports increased by 4.6%. The deficit in relation to this group of countries was €29 mln, €583 mln less than in the same period of the previous year.