The surplus of the external trade in goods amounted to EUR 1.6 billion in November, compared to October the adjusted volume of export decreased by 2.8%, while that of import lessened by 6.1%
The volume of export decreased by 3.6% in November 2023 and that of import declined by 16% compared to the same period of the previous year. The surplus was EUR 1.6 billion, the balance improved by EUR 3.0 billion year-on-year. Compared to October, the seasonally and working-day adjusted volume of export decreased by 2.8%, that of import lessened by 6.1%.
In November 2023:
The value of export amounted to EUR 13.0 billion (HUF 4,921 billion), that of import to EUR 11.4 billion (HUF 4,322 billion).
In November 2023 compared to a year earlier:
The value of export decreased by 3.1% and that of import declined by 23% in EUR terms.
According to calendar-adjusted data, the volume of export decreased by 3.5% and that of import lessened by 16%.
The balance of the external trade in goods improved by EUR 3.0 billion. (The balance is EUR 138 million lower than the one published in the first estimate.)
The HUF price level of the external trade in goods decreased by 6.7% in exports and was down by 15% in imports compared to the same month of the previous year. The terms of trade improved by 9.8%. The HUF exchange rate strengthened by 6.9% against the EUR and by 12% against the US dollar.
Calculated at November 2022 prices, the export of machinery and transport equipment lessened by 8.0%, their import declined by 26%. The volume of export of the commodity group of electrical machinery, apparatus and appliances, n.e.s., decreased by nearly one-tenth, its import lessened by almost one-third. The export volume of the commodity group of road vehicles slightly decreased, its import volume lessened by more than one-seventh compared to the base period. The export turnover of the commodity group of telecommunication and sound recording and reproducing apparatus declined by one-tenth, its import volume lessened by more than one-fifth compared to the same period of the previous year. The turnover of the power generating machinery and equipment commodity group declined by a few percentage points on the export side, its import volume decreased by nearly one-fourth. The aggregate commodity group of machinery and transport equipment contributed to the volume reduction in total exports by 4.6 percentage points and raised on the total import side the volume decrease by 11 percentage points.
The export volume of manufactured goods became 1.9% lower, their import volume decreased by 11%. The volume reduction was impacted by the turnover of professional, scientific and controlling instruments in export and miscellaneous manufactured articles, n.e.s. in import. The aggregate commodity group of manufactured goods increased the volume reduction in total exports by 0.6 percentage points and grew the overall volume decline on the total import side by 4.1 percentage points.
The export volume of fuels and electric energy increased by 35%, their import volume was 7.9% higher than in the same period of the previous year. The turnover volume growth can be explained by the significant increase in natural and manufactured gas on the export side and in petroleum, petroleum products on the import side. Fuels and electric energy moderated the total volume decrease by 1.2 percentage points on the export side and by 0.8 percentage points on the import side.
The export volume of food, beverages and tobacco became 6.2% higher, while their import volume decreased by 12%. The volume change was mainly driven by cereals and cereal preparations both on the export and import side. The volume change realised by the aggregate commodity group moderated the total export turnover decrease by 0.5 percentage points and raised the import decline rate by 0.8 percentage points.
The volume of export to the EU-27 Member States became 5.6% lower and that of import from there lessened by 8.9%. The balance of the external trade in goods improved by EUR 606 million, generating a surplus of EUR 1.5 billion. This group of countries accounted for 77% of exports and 75% of imports.
In the extra-EU-27 trade, the volume of export increased by 3.4%, while that of import lessened by 31%. The balance of the external trade in goods with these countries improved by EUR 2.4 billion, showing a surplus of EUR 79 million.
In January–November 2023:
The value of exports amounted to EUR 138.6 billion (HUF 53.0 thousand billion), that of imports to EUR 129.1 billion (HUF 49.4 thousand billion).
In January–November 2023 compared to a year earlier:
The volume of export rose by 3.4%, while that of import lessened by 3.7%.
The balance of the external trade in goods improved by EUR 18.3 billion, the surplus amounted to EUR 9.5 billion.
The HUF price level of the external trade in goods was up by 0.2% in exports, while it declined by 6.1% in imports compared to the corresponding period of the previous year. The terms of trade improved by 6.7%. The HUF strengthened by 2.0% against the EUR and by 4.9% against the US dollar.
External trade in goods, January–November 2023
| Denomination | Export | Import | Balance | |||
|---|---|---|---|---|---|---|
| value, at current prices | same period of the previous year=100.0% | value, at current prices | same period of the previous year=100.0% | value, at current prices | in the same period of the previous year | |
| Billion HUF | 53 004 | 103.6 | 49 429 | 90.4 | 3 575 | 7 051 |
| Million EUR | 138 619 | 105.6 | 129 110 | 92.1 | 9 509 | 18 345 |