External trade surplus was EUR 458 million in August
In August 2017, the export volume increased by 7.3%, the import volume by 9.5%, and the surplus decreased by EUR 101 million compared to the same month of the previous year. On the basis of calendar adjusted data, the export and import volumes increased by 7.7% and 10%, respectively. In the first eight months of 2017, the external trade surplus was EUR 5.6 billion.
In August 2017:
The value of exports amounted to EUR 7.9 billion (HUF 2,418 billion) and that of imports to EUR 7.5 billion (HUF 2,279 billion).
In August 2017 compared to the same month of the previous year:
The value of exports increased by 10% and that of imports by 13% in EUR terms.
The surplus on trade decreased by EUR 101 million and was EUR 458 million. (The balance is EUR 18 million more than the value published in the first estimate.)
The forint price level of external trade in goods increased by 0.6% both in exports and imports. The terms of trade did not change. The forint exchange rate appreciated by 2.0% against the euro and by 7.0% against the dollar.
Calculated at prices of August of the previous year, the trade of machinery and transport equipment increased by 6.7% in exports and by 12% in imports. The exports of road vehicles increased by nearly one-tenth, and their imports by more than one-tenth. The trade of motor cars showed an increase in both directions. The export volume of power-generating machinery and equipment declined somewhat, and their import volume was up by nearly one-tenth due to the imports of electric motors and gas turbines. The import volume of telecommunications and sound recording and reproducing apparatus and equipment grew by more than one-tenth, and their exports were up by nearly one-fifth, mainly due to the trade of televisions, mobile phones and their parts. The imports of electrical machinery, apparatus and appliances were up by nearly one-tenth; in the growth, the imports of electronic integrated circuits and insulated wire, cable and other insulated electric conductors were dominant.
The export and import volumes of manufactured goods increased by 5.3% and 7.0%, respectively. The trade of medical and pharmaceutical products grew slightly in both directions. The exports of plastics in primary forms increased by nearly one-sixth. The export volume of professional, scientific and controlling instruments and apparatus, n.e.s. rose by more than one-tenth, especially owing to the trade of regulating or controlling instruments and apparatus. The imports of iron and steel were up by nearly one-sixth, 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 increased by 12%. The imports of petroleum, petroleum products and related materials were by one-fifth higher than a year earlier. The imports of natural and manufactured gas increased by more than one-tenth. The imports of electricity stagnated.
The export and import volumes of food, beverages and tobacco grew by 10% and 8.2%, respectively. The exports of cereals and cereal preparations went up by more than one-fourth, mainly due to the growth in the exports of corn and barley. The importation of vegetables and fruits increased by more than one-tenth due to the growth in the imports of banana and seasonal fruits.
The volume of exports to EU member states increased by 7.7% and that of imports from these countries by 7.1%. The surplus on trade increased by EUR 85 million and amounted to EUR 605 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 5.4% and that of imports by 18%. The trade balance with this group of countries worsened by EUR 186 million and showed a deficit of EUR 147 million.
External trade in goods by groups of countries, August 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) | 1 730 | 5 685 | 108.2 | 110.4 | 107.1 |
| Extra-EU countries | 550 | 1 794 | 117.1 | 120.2 | 118.0 |
| Total | 2 279 | 7 479 | 110.2 | 112.6 | 109.5 |
| Exports | |||||
| European Union (EU-28) | 1 914 | 6 289 | 108.7 | 110.9 | 107.7 |
| Extra-EU countries | 505 | 1 647 | 104.7 | 107.5 | 105.4 |
| Total | 2 418 | 7 937 | 107.9 | 110.2 | 107.3 |
*Based on raw (unadjusted) data.
In January–August 2017:
The value of exports amounted to EUR 66.5 billion (HUF 20,532 billion) and that of imports to EUR 60.9 billion (HUF 18,805 billion).
In January–August 2017 compared to the same period of the previous year:
The volume of exports was up by 6.4% and that of imports by 8.7%.
The surplus on the trade balance decreased by EUR 1.1 billion and amounted to EUR 5.6 billion.
The forint price level of external trade in goods increased by 1.4% in exports and by 2.1% in imports. The terms of trade worsened by 0.7%. The forint exchange rate appreciated by 1.3% against the euro and by 0.1% against the dollar.
External trade in goods, in January–August 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 | 20 532 | 107.9 | 18 805 | 111.0 | 1 727 | 2 088 |
| Million EUR | 66 512 | 109.3 | 60 920 | 112.5 | 5 592 | 6 676 |