External trade surplus up to €730 mln in May

Figures

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Hungary’s external trade surplus grew to €730 mln in May, an increase of €259 million over the same period a year ago, according to data published today by the Central Statistical Office (KSH).

In May, compared to the same month of the previous year, the export volume was up by 9.7%, while the import volume grew by 9.2%. The value of exports amounted to €7.6 billion, and that of imports to €6.9 bln, the KSH said. Exports increased by 6.3% and imports by 2.9% in euro terms, it added. 

The volume of machinery and transport equipment exports grew by 10.3%, and imports by 6.6% in May. The export and import volumes of manufactured goods increased by 11% and 14%, respectively. The import volume of fuels and electrical energy grew by 6.6%. The export volume of food, beverages and tobacco increased by 8.5%, and their import volume by 7.3%.

The volume of exports to EU member states grew by 12%, and that of imports by 9.1%, according to KSH data. The surplus in Hungary’s trade with EU member states increased by €242 mln, amounting to €843 mln. The share of total trade with these countries was 81% in exports, and 77% in imports.

In non-EU trade, the volume of exports increased by 1.2% and that of imports by 8.9%, the KSH said. The trade balance with this group of countries improved by €17 mln, resulting in a deficit of €114 mln.

In the period January–May, the value of exports amounted to €38.3 bln and that of imports to €34.1 bln, while the volume of exports increased by 5.4% and that of imports by 6.3% compared to the same period a year earlier.

In the first five months of the year, the surplus in the trade balance increased by €695 mln, amounting to €4.2 bln in total.

The forint price level of external trade in goods decreased by 0.3% in exports and by 2.7% in imports, KSH reported, adding that the terms of trade thus improved by 2.5%. The forint exchange rate depreciated by 1.9% against the euro, and by 2.0% against the dollar.

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