Hungaryʼs external trade surplus at EUR 903 mln in October,

MNB

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Hungaryʼs external trade surplus was up by EUR 179 million to EUR 903 mln in October, compared to the same month a year earlier, with the export volume decreasing by 1% and the import volume going down by 2.5%, the Central Statistical Office (KSH) announced today in a second reading of data.

In October, the value of exports amounted to EUR 8.1 bln and that of imports to EUR 7.2 bln. In euro terms, the value of exports decreased by 1.3% and that of imports by 3.8%, when compared to the same month a year earlier.

The forint price level of external trade in goods decreased by 1.5% in exports and by 2.6% in imports, while the terms of trade improved by 1.1%, according to data from KSH. The forint exchange rate appreciated by 1.4% against the euro and depreciated by 0.4% against the dollar, KSH said.

In October, trade in machinery and transport equipment at previous year’s prices decreased by 2.1% in exports and by 3.8% in imports, while the export volume of manufactured goods was up by 0.6%, while the import volume decreased by 0.9%, according to KSH. The import volume of fuels and electricity decreased by 2.2%, and the export volume of food, beverages and tobacco increased by 3.2%, while their import volume lessened by 2.6%, KSH added.

The volume of exports to EU member states decreased by 0.3% and that of imports by 1.1% in October, as compared to the same month a year earlier. The surplus on Hungary’s trade with EU member states increased by EUR 51 mln and amounted to EUR 901 mln, KSH said, adding that the share of the trade with these countries was 81% in exports and 78% in imports.

In extra-EU trade, the volume of exports decreased by 3.6% and that of imports by 6.7% in October, as compared to the same month a year earlier. The trade balance for this group of countries improved by EUR 128 mln and shows a surplus of EUR 2.4 mln.

In the January-October period, the value of exports amounted to EUR 77.4 bln and that of imports to EUR 68.9 bln. The volume of exports was up by 4.3% and that of imports by 4.7%, compared to the same period a year earlier. The surplus on the trade balance increased by EUR 1.4 bln and amounted to EUR 8.5 bln, KSH said.

The forint price level of external trade in goods decreased by 1% in exports and by 3% in imports, while the terms of trade improved by 2.1%, KSH said. The forint exchange rate depreciated by 0.8% against the euro and by 0.9% against the dollar, KSH added.

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