External trade surplus was EUR 495 million in October
In October 2017, the export volume increased by 9.6% and the import volume by 15%, and the surplus was EUR 495 million, which was EUR 302 million less than in October of the previous year. In the first ten months of 2017, the external trade surplus was EUR 7.0 billion.
In October 2017:
The value of exports amounted to EUR 8.9 billion (HUF 2,746 billion) and that of imports to EUR 8.4 billion (HUF 2,592 billion).
In October 2017 compared to the same month of the previous year:
The value of exports increased by 12% and that of imports by 17% in EUR terms.
The surplus on trade diminished by EUR 302 million and amounted to EUR 495 million. (The balance is EUR 27 million less than the value published in the first estimate.)
Calendar-adjusted volume indices were the same as unadjusted volume indices, the export and import volumes rose by 9.6% and 15%, respectively.
The forint price level of external trade in goods went up by 2.5% in imports and by 2.6% in exports. The terms of trade improved by 0.1%. The forint exchange rate weakened by 1.0% against the euro and strengthened by 5.2% against the dollar.
Calculated at prices of October of the previous year, trade in machinery and transport equipment rose by 9.3% in exports and by 14% in imports. The exports of road vehicles increased slightly and the imports by more than one-tenth. The growth of imports was influenced by trade in passenger and freight vehicles and the related trade in their components. Both the exports and imports of power-generating machinery and equipment slightly increased. The imports of telecommunications and sound recording and reproducing apparatus and equipment was up by a few per cent and the exports increased by nearly one-fifth, mainly due to a change in trade in television sets and video equipment. The imports of electrical machinery, apparatus and appliances rose by nearly one-fifth, the imports of electronic integrated circuits being dominant in the growth.
The export and import volumes of manufactured goods increased by 10% and 16%, respectively. The exports of medical and pharmaceutical products rose slightly, while the imports by nearly a quarter. The exports of plastics in primary forms were more than one-tenth higher than the figure for the same period last year. The exports of professional, scientific and controlling instruments and apparatus went up by nearly one-fifth, too, especially owing to the trade in regulating or controlling instruments and apparatus. The imports of iron and steel as well as non-ferrous metals were up by one-fifth, crucially due to a change of the trade in flat-rolled products of iron, unlaboured aluminium, aluminium sheet, plate and strip as well as copper wires, and the imports of manufactures of metals n.e.s. grew by more than one-tenth because of the trade in manufactured goods of iron and steel.
The import volume of fuels and electricity rose by 27%. The imports of petroleum, petroleum products and related materials increased by a quarter compared to October 2016. The imports of natural and manufactured gas grew more than one and a half times higher. Electricity imports declined by almost 10%.
The export and import volumes of food, beverages and tobacco grew by 1.9% and 8.6%, respectively. The imports of cereals and cereal preparations went up by more than one-tenth, due to the imports of corn and other bakery products. The imports of beverages and tobacco increased by more than one-fifth, crucially as a result of the growth in the imports of cigar and cigarettes.
The volume of exports to EU member states grew by 9.9% and that of imports from these countries by 11%. The surplus on trade was up by EUR 65 million and amounted to EUR 866 million. The share of the trade with these countries was 81% in exports and 75% in imports.
In extra-EU trade, the volume of exports rose by 8.7% and that of imports by 31%. The balance of trade with this group of countries deteriorated by EUR 367 million and showed a deficit of EUR 372 million.
External trade in goods by groups of countries, October 2017*
| Groups of countries | Value, at current prices | Value index calculated from data in |
Volume index | ||
|---|---|---|---|---|---|
| billion HUF | million EUR | HUF | EUR | ||
| same period of previous year=100.0% | |||||
| Imports | |||||
| European Union (EU-28) | 1 950 | 6 289 | 113.7 | 112.5 | 110.7 |
| Extra-EU countries | 642 | 2 082 | 133.3 | 133.4 | 131.3 |
| Total | 2 592 | 8 371 | 118.0 | 117.1 | 115.1 |
| Exports | |||||
| European Union (EU-28) | 2 218 | 7 155 | 113.1 | 111.9 | 109.9 |
| Extra-EU countries | 527 | 1 710 | 109.9 | 109.9 | 108.7 |
| Total | 2 746 | 8 866 | 112.5 | 111.5 | 109.6 |
*Based on raw (unadjusted) data.
In January–October 2017:
The value of exports amounted to EUR 84.2 billion (HUF 25,997 billion) and that of imports to EUR 77.2 billion (HUF 23,827 billion).
In January–October 2017 compared to the same period of the previous year:
The volume of exports was up by 6.4% and that of imports by 8.9%.
The surplus on the trade balance decreased by EUR 1.4 billion and amounted to EUR 7.0 billion.
The forint price level of external trade in goods grew by 1.5% in exports and by 2.1% in imports. The terms of trade deteriorated by 0.6%. The forint strengthened by 1.0% against the euro and by 1.2% against the dollar.
External trade in goods, January–October 2017
| Denomination | Exports | Imports | Balance | |||
|---|---|---|---|---|---|---|
| value, at current prices | same period of previous year=100.0% | value, at current prices | same period of previous year=100.0% | value, at current prices | in same period of previous year | |
| Billion HUF | 25 997 | 108.0 | 23 827 | 111.2 | 2 170 | 2 631 |
| Million EUR | 84 225 | 109.1 | 77 202 | 112.3 | 7 023 | 8 438 |