Hungary: Surplus on external trade in goods is EUR 816 million in February
The surplus was EUR 816 million, EUR 26 million less than in February 2018. In January–February 2019, the surplus on the balance of external trade in goods amounted to EUR 1.2 billion, EUR 241 million less than a year earlier.
In February 2019:
The value of exports amounted to EUR 9.1 billion (HUF 2,881 billion) and that of imports to EUR 8.2 billion (HUF 2,622 billion).
In February 2019 compared to the same month of the previous year:
- The value of exports rose by 6.2% and that of imports by 7.3% in EUR terms.
- The surplus on external trade in goods went down by EUR 26 million. (The balance is EUR 76 million less than the value published in the first estimate.)
- The forint (HUF) price level of external trade in goods increased by 2.9% in imports and by 2.0% in exports compared to the same month of the previous year. The terms of trade worsened by 0.9%. The forint exchange rate weakened by 2.1% against the euro and by 11% against the dollar.
- Calculated at prices in February 2018, trade in machinery and transport equipment grew by 9.0% in exports and by 7.7% in imports. The exports of road vehicles rose by more than one-tenth and their imports slightly compared to the same period of the previous year.
The growth was due to changes in both the exports and imports of passenger car parts, in addition, in the exports of passenger cars.
The exports of telecommunications and sound recording and reproducing apparatus and equipment increased by more than one-third and their imports at nearly the same rate. The growth on both sides was due to changes in trade in apparatus for the transmission or reception of voice, images or other data, in parts of telephone sets and in television sets.
- The export volume of manufactured goods was up by 2.7% and their imports by 5.4%.
- The export volume of fuels and electric energy fell by 11%, while their import volume increased by 5.2%, which was consistent in both directions with changes mainly in trade in petroleum, petroleum products and related materials.
- Trade in food, beverages and tobacco changed to almost the same extent on both sides: their export volume expanded by 7.7% and their import volume by 7.4%.
- The volume of exports to EU member states rose by 8.1% and that of imports from there by 3.0%. The surplus on external trade in goods increased by EUR 364 million and amounted to EUR 1.2 billion. These countries accounted for 82% of exports and 76% of imports.
- In extra-EU trade, the volume of exports decreased by 0.7%, while that of imports was up by 20%. The balance of external trade in goods with this group of countries deteriorated by EUR 390 million and showed a deficit of EUR 387 million.
In January–February 2019:
The value of exports amounted to EUR 18.1 billion (HUF 5,766 billion) and that of imports to EUR 16.9 billion (HUF 5,384 billion).
In January–February 2019 compared to the same period of the previous year:
- The volume of exports rose by 6.4% and that of imports by 7.7%.
- The surplus on the trade balance went down by EUR 241 million and amounted to EUR 1.2 billion.
- The forint price level of external trade in goods increased by 2.7% in exports and by 3.6% in imports compared to the first two months of the previous year. The terms of trade worsened by 0.9%. The forint depreciated by 2.8% against the euro and by 11% against the dollar. ■