External trade surplus was EUR 881 million in February
In February 2017, the export volume increased by 2.5% and the import volume by 3.7%, and the surplus decreased by EUR 86 million compared to the same month of the previous year. On the basis of calendar adjusted data, the export volume increased by 6.1% and the import volume by 7.5% compared to the same period of the previous year. In the first two months of 2017, the external trade surplus was EUR 1.5 billion.
In February 2017:
The value of exports amounted to EUR 8.1 billion (HUF 2,508 billion), that of imports to EUR 7.3 billion (HUF 2,236 billion)
In February 2017 compared to the same month of the previous year:
The value of exports increased by 5.5% and that of imports by 7.5% in EUR terms.
The surplus on trade decreased by EUR 86 million and was EUR 881 million. (The balance is EUR 30 million less than the value published in the first estimate.)
The forint price level of external trade in goods increased by 2.0% in exports and by 2.8% in imports. The terms of trade worsened by 0.8%. The forint exchange rate appreciated by 0.5% against the euro and depreciated by 3.7% against the dollar.
Calculated at prices in February of the previous year, the trade of machinery and transport equipment grew by 1.4% in exports and 3.8% in imports. Both the exports and imports of road vehicles decreased slightly. The export volume of power-generating machinery and equipment rose by nearly one-tenth. The trade of electric generating sets, generators and parts for internal combustion engines increased. The exports of diesel engines went down by almost one-tenth. The trade of electrical machinery, apparatus and appliances did not change significantly, there was only a small growth in imports and a small drop in exports. The imports of telecommunications and sound recording apparatus and equipment showed a rise of around 15%, mainly due to the increase in the imports of parts for transmission apparatus.
The export and import volumes of manufactured goods were up by 4.5% and 1.5%, respectively. Medical and pharmaceutical products showed a growth of more than one-tenth in both directions. In imports, blood products, in exports, medicaments played the key role in the increase. The exports of professional, scientific and controlling instruments and apparatus – especially regulating or controlling instruments – rose by nearly one-tenth. The exports of chemical materials and products grew significantly, by more one-third and those of iron and steel also increased by nearly one-fifth.
The import volume of fuels and electricity increased by 23.6%. The imports of petroleum, petroleum products and related materials were down by more than one-tenth. The imports of natural and manufactured gas were higher by about three-fourths than a year earlier. The imports of electricity rose by more than half.
While the export volumes of food, beverages and tobacco grew by 3.5%, their import volumes decreased by 1.9%. The exports of cereals and cereal preparations went up by one-fourth and their imports by about one-tenth. The trade of wheat and maize showed a significant growth in both directions. The exports of meat and meat preparations fell by almost one-sixth, mainly owing to the decrease in the exports of poultry meat to France, Slovakia and Belgium.
The volume of exports to EU member states increased by 1.9% and that of imports from these countries by 1.5%. The surplus on trade with EU member states increased by EUR 49 million and amounted to EUR 913 million. The share of the trade with these countries was 79% in exports and 76% in imports.
In extra-EU trade, the volume of exports increased by 4.9% and that of imports by 11.6%. The trade balance with this group of countries worsened by EUR 135 million and showed a deficit of EUR 31 million.
External trade in goods by groups of countries, February 2017*
| Groups of countries | Value, at current prices | Value index calculated from data in |
Volume index | ||
|---|---|---|---|---|---|
| billion HUF | million EUR | HUF | EUR | ||
| the same period of the previous year=100.0 | |||||
| Imports | |||||
| European Union (EU-28) | 1 707 | 5 534 | 103.1 | 103.6 | 101.5 |
| Extra-EU countries | 529 | 1 718 | 119.5 | 122.4 | 111.6 |
| Total | 2 236 | 7 252 | 106.6 | 107.5 | 103.7 |
| Exports | |||||
| European Union (EU-28) | 1 989 | 6 447 | 103.4 | 103.9 | 101.9 |
| Extra-EU countries | 519 | 1 687 | 109.3 | 111.9 | 104.9 |
| Total | 2 508 | 8 134 | 104.5 | 105.5 | 102.5 |
*Based on raw (unadjusted) data.
In January– February 2017:
The value of exports amounted to EUR 15.8 billion (HUF 4,893 billion) and that of imports to EUR 14.3 billion (HUF 4,426 billion).
In January–February 2017 compared to the same period of the previous year:
The volume of exports was up by 6.4% and that of imports by 6.8%.
The surplus on the trade balance decreased by EUR 70 million and amounted to EUR 1.5 billion.
The forint price level of external trade in goods increased by 1.6% in exports and by 2.8% in imports. The terms of trade worsened by 1.2%. The forint exchange rate appreciated by 1.2% against the euro and depreciated by 2.1% against the dollar.
External trade in goods, in January-February 2017
| Denomination | Exports | Imports | Balance | |||
|---|---|---|---|---|---|---|
| value, at current prices | the same period of the previous year=100.0 | value, at current prices | the same period of the previous year=100.0 | value, at current prices | in the same period of the previous year | |
| Billion HUF | 4 893 | 108.1 | 4 426 | 109.8 | 467 | 495 |
| Million EUR | 15 843 | 109.5 | 14 329 | 111.2 | 1514 | 1584 |