August trade surplus revised down to EUR 31 mln
In August 2018, Hungaryʼs export volume rose by 0.5% and import volume by 3.9% compared to August 2017. The surplus was EUR 31 million, some EUR 401 mln less year-on-year, according to a second, revised estimate of data for the external trade in goods in August.
According to calendar-adjusted data, export and import volumes increased by 4.0% and 5.8%, respectively.
In August 2018, the value of exports amounted to EUR 7.968 billion, and that of imports to EUR 7,937 bln. The value of exports increased by 0.8%, and that of imports by 6.2% in euro terms.
The trade surplus was down by EUR 401 mln year-on-year. The August balance is EUR 20 mln less than the value published in the first estimate on October 9.
Imports of machinery and transport equipment rose 2.9% in volume terms, while food, drink and tobacco imports were up 1.1%, and energy imports climbed 8.8%. Imports of manufactured goods were up 7.9%.
Exports of machinery and transport equipment rose 0.3%, while exports of food, drink and tobacco decreased 7.7%. Energy exports declined by 2.9%, while exports of manufactured goods rose 3.0%.
The forint price level of the external trade in goods increased by 8.4% in imports and by 6.3% in exports compared to the same month of the previous year. The terms of trade thus worsened by 1.9%. The forint exchange rate was down by 6.1% against the euro in August, and by 8.5% against the U.S. dollar.
The volume of exports to EU member states increased by 1.4%, and that of imports from these countries was 0.5% higher. The surplus in trade with the EU was up by EUR 12 mln and amounted to EUR 588 mln. The share of trade with these countries was 80% in exports and 73% in imports.
In extra-EU trade, export volume was down 2.7%, while the volume of imports rose 13.8%. The trade balance with this group of countries deteriorated by EUR 413 mln, showing a deficit of EUR 557 mln.
In January–August 2018
In January–August 2018, the external trade surplus was EUR 4.613 bln. The value of exports amounted to nearly EUR 69.8 bln, up 5.1%, and that of imports to almost EUR 65.2 bln, up 6.7%.
The forint price level of the external trade in goods increased by 2.8% in imports and by 2.3% in exports compared to the first eight months of the previous year. The terms of trade thus worsened by 0.5%. The forint exchange rate depreciated by 2.6% against the euro, but appreciated by 5.6% against the U.S. dollar.
A first estimate of data for the external trade in goods in September 2018 will be published on November 9, with a second, more detailed estimate to follow on November 30.
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