External trade surplus up to EUR 978 mln in March

Figures

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Hungary’s external trade surplus was up by EUR 21 million to EUR 978 mln in March compared to the same month a year earlier, the Central Statistical Office (KSH) said today in a second estimate of data.

The value of exports increased by 19%, to EUR 9.5 billion, and that of imports by 21%, to EUR 8.5 bln in March, compared to the same month a year earlier. The forint price level of external trade in goods increased by 2% in exports and by 3.4% in imports. 

The terms of trade worsened by 1.4%, mainly due to the rise in energy prices. The forint exchange rate appreciated by 0.5% against the euro and depreciated by 3.4% against the dollar.

Calculated at prices in March of the previous year, the trade of machinery and transport equipment grew by 16% in exports and 19% in imports, according to the KSH. The export and import volumes of manufactured goods were up by 17% and 13%, respectively. The import volume of fuels and electricity increased by 36%. The export volumes of food, beverages and tobacco grew by 19%, and their import volumes increased by 4.7%.

The volume of exports to EU member states increased by 15% and that of imports from these countries by 12%. The surplus in trade with EU member states increased by EUR 268 million and amounted to EUR 1.104 bln, according to the KSH. The share of trade with these countries was 78% in exports and 74% in imports.

In extra-EU trade, the volume of exports increased by 22% and that of imports by 32%, the KSH reported. The trade balance with this group of countries worsened by EUR 248 mln and showed a deficit of EUR 126 mln.

In the January-March period, the value of exports amounted to EUR 25.3 bln and that of imports to EUR 22.8 bln.

In the first three months of the year, the volume of exports was up by 9.8% and that of imports by 10.3%. The surplus in the trade balance decreased by EUR 50 mln and amounted to EUR 2.5 bln, according to KSH data.

The forint price level of external trade in goods in the first quarter increased by 1.7% in exports and by 3% in imports. The terms of trade worsened by 1.3%, the KSH reported. The forint exchange rate appreciated by 0.9% against the euro and depreciated by 2.5% against the dollar.

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