Farm Sector Generates 38% of Trade Surplus
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.
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