Export, import volumes up in October
In its last release of the calendar year, the Central Statistics Office (KSH) today reports year-on-year rises in Hungary’s export and import volumes for October: The former was up 9.4%, the latter 7.3%. As for the government’s East-facing strategy, bilateral trade outside the European Union was also up.
In October 2013, the volume of exports was 9.4% higher year-on-year, while the volume of imports was 7.3% y.o.y. more in external trade in goods. In the first ten months of the year, export and import volumes increased by more than 4%.
Exports amounted to €7.7 billion (HUF 2,274 billion), while imports to €6.9 billion (HUF 2.051 trillion). The surplus on the trade balance was €759 million (HUF 223 trillion) in OctoberIn the first ten months of 2013, export and import volumes grew by 4.3% and 4.5% y.o.y., respectively. The value of exports was €68.6 billion (HUF 20.320 trillion), while that of imports was €62.4 billion (HUF 18.486 trillion). The surplus on the trade balance amounted to €6.2 billion (HUF 1,835 trillion), which was €209 million (HUF 114 billion) more than in the same period of the previous year.
Through October 2013, the forint-based price level of external trade in goods decreased by 0.8% in imports and by 0.3% in exports compared to the same period of 2012. The terms of trade improved by 0.5%. The forint exchange rate was down by 2.1% against the euro and was up by 0.9% against the US dollar.
The volume of machinery and transport equipment, which represented the half of the whole trade, was 4.5% more in exports and 3.8% more in imports y.o.y. KSH attributed the increased to being “dominantly influenced by the growth of trade in road vehicles.”
The export and import volumes of manufactured goods were up by 7.0% and 6.9%, respectively.
The import volume of fuels and electric energy was 4.8% higher y.o.y. The volume of imports of petroleum, petroleum products and related materials grew by nearly 10%.
The export and import volumes of food, beverages and tobacco were 2.5% and 1.7% lower, respectively, y.o.y.
In the first ten months of 2013, the share of Hungary’s dealings with European Union member states was 77% in exports and 71% in imports. The volume increase of the trade with countries outside the EU was somewhat higher than that of the trade with the EU: Exports grew by 6.7% and imports were up by 6.1% y.o.y.
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