Service exports increased by 7.6% in euro terms compared to the same period a year earlier, while imports rose by 3.6%. As a result, the surplus expanded by EUR 469 mln year-on-year.
Compared to the previous quarter, however, the balance declined as exports fell by 4.8% and imports grew by 6.6%, resulting in a EUR 930 mln reduction in the surplus.
In the fourth quarter of 2025, the value of Hungary’s service exports totaled EUR 10 bln, equivalent to HUF 3.9 tln. Service imports reached EUR 6.9 bln, or HUF 2.7 tln.
This generated a total services trade surplus of EUR 3.1 bln, equivalent to HUF 1.2 tln.
Among service categories, travel services made the largest contribution to the surplus, generating EUR 1.036 bln. Transport services contributed EUR 848 ml, while business services added EUR 658 mln.
Trade with the European Union remained dominant. EU member states accounted for 64% of Hungary’s service exports and 73% of its imports, resulting in a surplus of EUR 1.5 bln in trade with the bloc.
Germany remained Hungary’s most important partner in services trade during the quarter, accounting for 20% of total turnover. The United States ranked second with an 8.3% share, followed by Austria with 6.4%.
Business services represented the largest share of service exports, accounting for 46% of total exports. Within this category, other business services represented 25%.
Transport services made up 25% of total service exports.
Business services also dominated imports, representing 58% of total service imports. Within this category, other business services accounted for 29%.
Transport services represented 25% of total import turnover.
Year-on-year improvement driven by travel and transport
In the fourth quarter of 2025, the value of service exports increased by 7.6% in euro terms compared to the same period of the previous year. In forint terms, exports rose by 2%.
Imports increased by 3.6% in euro terms but declined by 1.7% in forint terms.
The services trade surplus exceeded the level recorded a year earlier by EUR 469 mln, equivalent to HUF 125 bln.
The increase was primarily driven by improvements in the balance of travel services, which rose by EUR 276 mln, as well as transport services, which improved by EUR 135 mln. Manufacturing services on physical inputs owned by others also contributed to the improvement, with the balance increasing by EUR 69 mln.
At the same time, the balance of several service groups deteriorated. Among them were personal, cultural and recreational services, where the balance declined by EUR 73 mln.
Hungary’s services trade surplus with EU member states increased by EUR 360 mln year-on-year.
This improvement was primarily driven by stronger balances with Germany and Austria, which improved by EUR 234 mln and EUR 135 mln, respectively.
In trade with non-EU countries, the surplus increased by EUR 109 mln.
The improvement was mainly linked to stronger balances with Israel, which rose by EUR 52 mln, the United States with EUR 32 mln and the Republic of Korea with EUR 22 mln.
For 2025 as a whole, Hungary’s service exports increased by 2.6% compared to the previous year, equivalent to an increase of EUR 983 mln.
Service imports declined by 1.5% over the same period, representing a decrease of EUR 387 mln.
KSH also noted revisions to previously published data on external trade in services.
Figures for the first through fourth quarters of 2024 and the first three quarters of 2025 were revised based on adjustments submitted by companies. The revisions affected data on manufacturing services on physical inputs owned by others, travel services, maintenance and repair services, transport services, business services and government services.
Compared to previously published euro-denominated data, the value of exports for 2024 increased by 2.9% while imports rose by 3.6%.
For the first three quarters of 2025, exports were revised upward by 4.3% and imports by 4.5%.
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