External trade surplus was EUR 303 million in July
In July 2017, the export volume increased by 2.2%, the import volume by 8.4%, and the surplus decreased by EUR 379 million compared to the same month of the previous year. On the basis of calendar adjusted data, the export and import volumes increased by 2.2% and 8.1%, respectively. In the first seven months of 2017, the external trade surplus was EUR 5.1 billion.
In July 2017:
The value of exports amounted to EUR 7.6 billion (HUF 2,331 billion) and that of imports to EUR 7.3 billion (HUF 2,238 billion).
In July 2017 compared to the same month of the previous year:
The value of exports increased by 5.0% and that of imports by 11% in EUR terms.
The surplus on trade decreased by EUR 379 million and was EUR 303 million. (The balance is EUR 19 million less than the value published in the first estimate.)
The forint price level of external trade in goods increased by 0.4% both in exports and imports. The terms of trade did not change. The forint exchange rate appreciated by nearly 2.5% against the euro and by 6.2% against the dollar.
Calculated at prices of July of the previous year, the trade of machinery and transport equipment fell by 1.4% in exports and increased by 9.5% in imports. The exports of road vehicles showed a slight decrease mainly due to the exports of motor cars, while their imports increased by nearly one-tenth. The export volume of power-generating machinery and equipment declined by about one-sixth, and their import volume did not change significantly. The exports of diesel engines fell by more than one-fourth. The import volume of telecommunications and sound recording and reproducing apparatus and equipment grew by more than one-fourth, mainly due to the trade of mobile phones and their parts. The imports of electrical machinery, apparatus and appliances were up by nearly one-sixth; in the growth, the imports of electronic integrated circuits and electrical apparatus for switching and protecting electrical circuits were dominant.
The export and import volumes of manufactured goods increased by 6.3% and 9.2%, respectively. The exports of medical and pharmaceutical products grew somewhat, while their imports decreased sligthly. The exports of organic chemicals decreased by more than 10%. The export volumes of professional, scientific and controlling instruments and apparatus, n.e.s. rose by one-tenth, especially owing to the trade of measuring or checking instruments. In imports, the trade of miscellaneous manufactured articles n.e.s. increased by nearly one-fifth; among the product groups belonging here, primarily the trade of memory cards, plastic goods and packaging materials grew. The imports of iron and steel were up by nearly one-fourth, those of non-ferrous metals by more than one-tenth, and those of manufactures of metals went up slightly.
The import volume of fuels and electricity decreased by 6.4%. The imports of petroleum, petroleum products and related materials were by about one-tenth lower than a year earlier. The imports of natural and manufactured gas decreased by about one-tenth. The imports of electricity fell slightly.
The export and the import volumes of food, beverages and tobacco grew by 8.7% and 16%, respectively. The exports of cereals and cereal preparations went up by more than one-fifth, mainly due to the growth in the exports of corn to Austria, Italy, the Netherlands and Germany. The importation of vegetables and fruits increased by nearly one-sixth due to the growth in the imports of seasonal fruits.
The volume of exports to EU member states increased by 2.0% and that of imports from these countries by 6.9%. The surplus on trade decreased by EUR 210 million and amounted to EUR 293 million. The share of the trade with these countries was 79% in exports and 78% in imports.
In extra-EU trade, the volume of exports increased by 2.8% and that of imports by 14%. The trade balance with this group of countries worsened by EUR 168 million and showed a surplus of EUR 10 million.
External trade in goods by groups of countries, July 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) | 1 747 | 5694 | 107.0 | 109.7 | 106.9 |
| Extra-EU countries | 492 | 1 588 | 115.5 | 117.4 | 113.6 |
| Total | 2 238 | 7 282 | 108.8 | 111.3 | 108.4 |
| Exports | |||||
| European Union (EU-28) | 1 837 | 5 987 | 102.6 | 105.1 | 102.0 |
| Extra-EU countries | 495 | 1 598 | 102.6 | 104.4 | 102.8 |
| Total | 2 331 | 7 585 | 102.6 | 105.0 | 102.2 |
*Based on raw (unadjusted) data.
In January–July 2017:
The value of exports amounted to EUR 58.6 billion (HUF 18,113 billion) and that of imports to EUR 53.4 billion (HUF 16,526 billion).
In January–July 2017 compared to the same period of the previous year:
The volume of exports was up by 6.3% and that of imports by 8.5%.
The surplus on the trade balance decreased by EUR 983 million and amounted to EUR 5.1 billion.
The forint price level of external trade in goods increased by 1.5% in exports and by 2.4% in imports. The terms of trade worsened by 0.9%. The forint exchange rate appreciated by 1.2% against the euro and depreciated by 0.9% against the dollar.
External trade in goods, in January–July 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 | 18 113 | 107.9 | 16 526 | 111.1 | 1 588 | 1 915 |
| Million EUR | 58 575 | 109.2 | 53 441 | 112.4 | 5 134 | 6 117 |