External trade surplus was EUR 248 million in September
In September 2018, the export volume decreased by 2.2% and the import volume increased by 4.3% compared to the same month of the previous year. The surplus was EUR 248 million, EUR 720 million less than the figure in September 2017. According to calendar adjusted data, export and import volumes increased by 0.5% and 6.7%, respectively. In January–September 2018, the external trade surplus was EUR 4.9 billion.
In September 2018:
The value of exports amounted to EUR 8 billion 657 million (HUF 2,809 billion) and that of imports to EUR 8 billion 409 million (HUF 2,728 billion).
In September 2018 compared to the same month of the previous year:
The value of exports decreased by 2.4% and that of imports increased by 6.4% in EUR terms.
The surplus on trade was down by EUR 720 million. (The balance is EUR 20 million less than the value published in the first estimate.)
The forint price level of external trade in goods increased by 7.8% in imports and by 5.3% in exports compared to the same month of the previous year. The terms of trade worsened by 2.3%. The forint exchange rate was down by 5.3% against the euro and by 7.6% against the dollar.
Calculated at prices of September 2017, the trade of machinery and transport equipment decreased by 3.7% in exports and increased by 4.1% in imports. The exports of road vehicles were down by nearly one-fifth, and their imports decreased by only a few per cent due to the change in the trade of passenger vehicles in both sides of trade. The exports of power-generating machinery and their equipment decreased by more than one-tenth and their imports by more than one-seventh. The export volume of telecommunications and sound recording and reproducing apparatus and equipment increased by nearly one-tenth, and their import volume grew much more, by nearly one-fourth. The growth in exports was mainly connected to the change in the trade of TV sets and radar equipment helping car driving, and that in imports was due to the trade of mobile phones and their parts and parts of radio navigational aid apparatus. The exports of electrical machinery, apparatus and appliances slightly increased, and their imports were up by nearly one-tenth; in the growth, the imports of electronic integrated circuits and the exports of boards of electric conductors for a voltage were dominant.
The export volume of manufactured goods increased by 3.8% and their import volume by 9.6%. The exports of medical and pharmaceutical products increased by more than one-fourth, and their imports grew by more than half. On both sides, the large increase was mainly connected to the change in the trade of medicines, as well as human and animal blood and immunological products for therapeutic and other purposes. The exports of plastics in primary forms decreased by nearly one-tenth, while their imports grew by more than one-tenth. The exports of professional, scientific and controlling instruments and apparatus, n.e.s. decreased by more than one-seventh while their imports slightly increased compared to the same period of the previous year. Both in imports and in exports, the change in the trade of regulating or controlling instruments and apparatus and their parts was dominant. The trade of iron and steel was down slightly in exports, and their imports increased by a few per cent; both the increase and the decrease were due to the change in the turnover of flat-rolled products of iron. The exports of non-ferrous metals grew by nearly one-tenth, and their imports were up by more than one-tenth. On both sides, the increase was mainly connected to the change in the trade of unlaboured aluminium. The turnover of aluminium rod and profile also contributed to the growth in exports, and the trade of aluminium sheet, plate and strip was also significant in imports. The exports of other metal products slightly decreased, while their imports were up by a few per cent compared to the same period of the previous year.
The import volume of fuels and electricity decreased by 13% and their export volume by 10%. The imports of petroleum, petroleum products and related materials were down by one-seventh, and their exports declined by nearly one-tenth. The imports of natural and manufactured gas decreased by nearly one-tenth, while their exports were up by more than one-fourth. The imports of electricity moderated by nearly one-fifth and its exports decreased by nearly one-third.
The export volume of food, beverages and tobacco was down by 8.9%, while their import volume grew by 4.1%. The exports of cereals and cereal preparations decreased by more than one-fifth, while their imports increased by one-sixth. In exports, the decline of the trade of non-sowing maize, while in imports, the growth in the trade of bread and other bakery products was dominant. The imports of meat and meat products slightly increased, while in exports a decrease was observed due to the change in the trade of pork in exports and that of prepared and preserved meat, as well as meat, food from other by-products and poultry for human consumption in imports. The exports of beverages slightly decreased, and their imports were up by more than one-fifth. The decrease was connected to the change in the trade of wine in exports, and the growth was due to the the change in the turnover of mineral water and spirits in imports. The imports of tobacco were down by a few per cent compared to the same period of the previous year, while its exports were up by more than 40% due to the change in the turnover of cigarette and cigar in both sides.
The volume of exports to EU member states decreased by 1.2%, and that of imports from these countries was by 2.2% higher. The surplus on trade was down by EUR 285 million and amounted to EUR 757 million. The share of the trade with these countries was 82% in exports and 75% in imports.
In extra-EU trade, the volume of exports was down by 5.7%, and that of imports increased by 11%. The trade balance with this group of countries deteriorated by EUR 435 million and showed a deficit of EUR 509 million.
External trade in goods by groups of countries, September 2018*
| 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) | 2 049 | 6 309 | 108.7 | 103.2 | 102.2 |
| Extra-EU countries | 678 | 2 100 | 125.2 | 117.6 | 111.4 |
| Total | 2 728 | 8 409 | 112.4 | 106.4 | 104.3 |
| Exports | |||||
| European Union (EU-28) | 2 295 | 7 065 | 104.0 | 98.7 | 98.8 |
| Extra-EU countries | 514 | 1 591 | 99.0 | 93.0 | 94.3 |
| Total | 2 809 | 8 657 | 103.0 | 97.6 | 97.8 |
*Based on raw (unadjusted) data.
In January–September 2018:
The value of exports amounted to EUR 78.4 billion (HUF 24,877 billion) and that of imports to EUR 73.6 billion (HUF 23,339 billion).
In January–September 2018 compared to the same period of the previous year:
The volume of exports was up by 4.4% and that of imports by 6.2%.
The surplus on the trade balance decreased by EUR 1,439 million and amounted to EUR 4.9 billion.
The forint price level of external trade in goods increased by 3.3% in imports and by 2.6% in exports compared to the first nine months of the previous year. The terms of trade worsened by 0.7%. The forint exchange rate depreciated by 2.9% against the euro and appreciated by 4.3% against the dollar.
External trade in goods, January–September 2018
| 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 | 24 877 | 107.1 | 23 339 | 109.7 | 1 539 | 1 945 |
| Million EUR | 78 442 | 104.2 | 73 581 | 106.7 | 4 861 | 6 300 |