KSH revises April external trade surplus downwards
In April 2018, Hungaryʼs export volume rose by 11.7% and import volume by 16.2% compared to the same month of the previous year. The external trade surplus was EUR 517 million, some EUR 282 mln less than in April 2017, according to a second estimate of data for the external trade in goods from the Central Statistical Office (KSH).
According to calendar-adjusted figures, export and import volumes increased by 4.1% and 8.7%, respectively, the KSH noted.
In April 2018, the value of exports amounted to EUR 8.593 billion, and that of imports to EUR 8.075 bln, rising by a respective 10.7% and 16% in value terms.
The trade surplus in April was some EUR 19 mln less than the value published in the first estimate.
The forint price level of the external trade in goods did not change in imports, while it decreased by 0.7% in exports. The terms of trade thus deteriorated by 0.7%. The forint exchange rate remained stable against the euro, and appreciated by 13% against the dollar.
Imports of machinery and transport equipment rose 13% in volume terms, while food, drink and tobacco imports were up 15.5%, and energy imports climbed 36%. Imports of manufactured goods were up 19%.
Exports of machinery and transport equipment rose 14%, while food, drink and tobacco exports decreased 5.2%. Energy exports expanded by 13.3%, and exports of manufactured goods rose 12%.
Trade with other European Union member states accounted for 81% of Hungaryʼs exports, and 76% of the countryʼs imports.
Hungary enjoyed a trade surplus of EUR 771 mln with EU countries and a trade deficit of EUR 253 mln with the rest of the world.
In January–April 2018
In the first four months of 2018, compared to the corresponding period of the previous year, the value of exports amounted to EUR 34.735 bln, and that of imports to EUR 32.111 bln.
The value of exports was up by 5.1%, and that of imports by 6.7%.
The surplus on the trade balance decreased by EUR 326 mln in the year to the end of April, amounting to EUR 2.624 bln.
The forint price level of the external trade in goods decreased by 0.1% both in exports and in imports compared to the first four months of the previous year. The terms of trade did not change. The forint exchange rate depreciated by 0.5% against the euro, but appreciated by 13% against the dollar.
A first estimate of data for the external trade in goods in May will be published on July 10, with a second estimate to follow on August 2.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.