The surplus of external trade in goods was EUR 478 million in November
In November 2018, the export volume was 3.9% and the import volume 5.4% higher than in the same period of the previous year. The surplus was EUR 478 million, EUR 204 million less than the figure in November 2017. According to calendar-adjusted data, export and import volumes rose by 3.8% and 5.1%, respectively. In January–November 2018, the external trade in goods surplus was EUR 5.6 billion.
In November 2018:
The value of exports amounted to EUR 9,474 million (HUF 3,055 billion) and that of imports to EUR 8,996 million (HUF 2,901 billion).
In November 2018 compared to the same month of the previous year:
The value of exports rose by 4.5% and that of imports by 7.3% in EUR terms.
The surplus on external trade in goods was down by EUR 204 million. (The balance is EUR 18 million less than the value published in the first estimate.)
The forint price level of external trade in goods increased by 5.6% in imports and by 4.2% in exports compared to the same month of the previous year. The terms of trade worsened by 1.3%. The forint exchange rate depreciated by 3.3% against the euro and by 6.8% against the dollar.
Calculated at prices of November 2017, the trade of machinery and transport equipment grew by 5.0% in exports and by 7.1% in imports. The exports of road vehicles slightly increased, while their imports decreased somewhat compared to the same period of the previous year. The growth of exports was predominantly due to the change in the trade of passenger cars and their parts. The exports of power-generating machinery and equipment slightly decreased, and their imports were down by nearly one-tenth. The export volume of telecommunications and sound recording and reproducing apparatus and equipment rose by nearly one-fifth, and their import volume increased more, by nearly one-fourth. The growth of exports and imports was connected to changes in the trade of machines for the reception, conversion and transmission or regeneration of voice, images or other data, incl. switching and routing apparatus. Besides, in imports, the change in the trade of mobil phones and their parts was significant, too. The exports of electrical machinery, apparatus and appliances, n.e.s. grew slightly, and their imports were up by nearly one-tenth. The growth resulted from the change in the imports of electronic integrated circuits and in the exports of electrical transformer, battery and other electrical components.
The export volume of manufactured goods increased by 3.9% and their imports by 5.8%. The exports of medical and pharmaceutical products grew by more than one-tenth and their imports by nearly one-seventh. In both directions, the rise was due to the trade of medicines and human and animal blood prepared for therapeutic and other purposes. The exports of plastics in primary forms went up by nearly one-tenth, and their imports by more than one-tenth. The exports of professional, scientific and controlling instruments and apparatus, n.e.s. were down by nearly one-tenth, while their imports were a few per cent higher than in the same period of the previous year. The changes in both directions were due to the trade of automatic regulating or controlling instruments and apparatus and their parts, and in imports, the trade of medical insturments and their parts was also significant. The exports of iron and steel were up by nearly one-tenth, while their imports were a few percent lower. The exports of non-ferrous metals were just below the level of the same period of the previous year, while their imports slightly increased. The growth was due to the change in the trade of aluminium sheet, plate and strip in imports and to that of unlaboured aluminium in exports. The exports of other metal products were a few per cent, while their imports were nearly one-tenth higher than in the same period of the previous year.
The import volume of fuels and electricity was up by 3.4%, while their export volume decreased by 0.8%. Both the imports and exports of petroleum, petroleum products and related materials slightly increased. The imports of natural and manufactured gas grew by nearly one-fifth and their exports by nearly one-third. The imports of electricity were down by more than one-tenth, and their exports by nearly one-fifth.
The export volume of food, beverages and tobacco grew by 1.7% and their import volume by 2.6%. The exports of cereals and cereal preparations decreased by more than one-tenth, while their imports slightly increased. In exports, the decline in the trade of wheat and in imports, the growth in the trade of bread and other bakery products was dominant. The imports of meat and meat preparations went up by more than one-tenth and their exports were only a few per cent higher. The growth in imports was mainly connected to the trade of pork, and that of exports was due to the change in the trade of poultry for human consumption. The exports of beverages hardly increased and their imports rose by more than one-tenth. The increases were connected to the change in the imports of mineral water as well as spirits and in the exports of mineral water and wine. The imports of tobacco and tobacco manufactures were slightly higher than in the same period of the previous year, and their exports rose by nearly one-fourth. The imports of unprocessed tobacco and the exports of cigars and cigarettes were dominant.
The volume of exports to EU member states was up by 5.8% and that of imports from these countries by 2.5%. The surplus on external trade in goods increased by EUR 255 million and amounted to EUR 993 million. These countries accounted for 82% of exports and 75% of imports.
In extra-EU trade, the volume of exports decreased by 3.9%, while that of imports rose by 15%. The balance of external trade in goods with this group of countries deteriorated by EUR 459 million and showed a deficit of EUR 514 million.
External trade in goods by groups of countries, November 2018*
| 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) | 2 187 | 6 786 | 107.1 | 103.6 | 102.5 |
| Extra-EU countries | 714 | 2 210 | 126.4 | 120.6 | 115.2 |
| Total | 2 901 | 8 996 | 111.3 | 107.3 | 105.4 |
| Exports | |||||
| European Union (EU-28) | 2 507 | 7 779 | 110.3 | 106.8 | 105.8 |
| Extra-EU countries | 548 | 1 695 | 100.0 | 95.4 | 96.1 |
| Total | 3 055 | 9 474 | 108.3 | 104.5 | 103.9 |
*Based on raw (unadjusted) data.
In January–November 2018:
The value of exports amounted to EUR 97.4 billion (HUF 31,001 billion) and that of imports to EUR 91,7 billion (HUF 29,209 billion).
In January–November 2018 compared to the same period of the previous year:
The volume of exports was up by 4.6% and that of imports by 6.2%.
The surplus on the balance of external trade in goods decreased by EUR 1,864 million and amounted to EUR 5.6 billion.
The forint price level of external trade in goods increased by 3.9% in imports and by 3.0% in exports compared to the first eleven months of the previous year. The terms of trade worsened by 0.9%. The forint depreciated by 3.1% against the euro and appreciated by 2.3% against the dollar.
External trade in goods, January–November 2018
| 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 | 31 001 | 107.7 | 29 209 | 110.3 | 1 791 | 2 322 |
| Million EUR | 97 390 | 104.5 | 91 748 | 107.1 | 5 643 | 7 507 |