Farm Sector Generates 38% of Trade Surplus

Crops

Hungarian wax peppers for sale on a market stall. The country's farm sector accounted for 38% of Hungary's trade surplus in 2023.

Photo by BreizhAtao / Shutterstock.com

The farm sector accounted for 38% of Hungary's trade surplus in 2023, the Ministry of Agriculture said last week, according to agroinform.hu.

Farm sector exports edged up 1.3% to EUR 13.4 billion. Imports also rose 1.3% to EUR 9.9 bln. The farm sector surplus reached EUR 3.5 bln. Export volume edged down 0.8%, but export prices rose 2.1%. 

Import volume dropped 9.1%, while import prices climbed 11.4%. Farm sector exports to Germany reached EUR 1.8 bln last year. Farm sector exports to Italy stood at EUR 1.7 bln, just ahead of Romania at EUR 1.65 bln, followed by EUR 1.1 bln for Austria and EUR 750 million for Poland. 

The ministry noted that 74% of Hungary's farm sector exports were processed products.

Ukrainian, Hungarian Hydrogen Associations Sign MoU Green Energy

Ukrainian, Hungarian Hydrogen Associations Sign MoU

Hungary in Talks on Attracting More Chinese Investments - Sz... Int’l Relations

Hungary in Talks on Attracting More Chinese Investments - Sz...

Close to 2,500 Companies Apply for EV Subsidies Automotive

Close to 2,500 Companies Apply for EV Subsidies

Chresten Bruun Wins Expat CEO of the Year Award Awards

Chresten Bruun Wins Expat CEO of the Year Award

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.