Surplus on external trade in goods amounts to EUR 655 million in June
In June 2020, the volume of imports was unchanged and that of exports was down by 0.1% compared to the same period of the previous year. The surplus was EUR 655 million, the balance improved by EUR 145 million compared to June 2019. According to calendar-adjusted data, the export volume lessened by 5.4% and the import volume by 3.8%. In January–June 2020, the surplus on the balance of external trade in goods amounted to EUR 2.0 billion, EUR 911 million less than a year earlier.
In June 2020:
The value of exports amounted to EUR 8.6 billion (HUF 2,980 billion) and that of imports to EUR 7.9 billion (HUF 2,754 billion).
In June 2020 compared to a year earlier:
The value of exports decreased by 3.2% and that of imports by 5.1% in EUR terms.
The balance of external trade in goods improved by EUR 145 million. (The surplus was EUR 42 million less than that published in the first estimate.)
The forint (HUF) price level of external trade in goods increased by 2.0% in imports and by 4.2% in exports compared to the same month of the previous year. The terms of trade improved by 2.2%. The forint exchange rate weakened by 7.7% against the euro and by 7.9% against the dollar.
Calculated at prices in June 2019, the exports of machinery and transport equipment became 0.2% higher, while their imports 1.3% lower. The exports of road vehicles fell by one-tenth and their imports by more than one-tenth compared to the corresponding period of the previous year. The reduction on both sides was mostly consistent with changes in trade in passenger cars and parts of motor vehicles. The exports of telecommunications and sound recording and reproducing apparatus and equipment became nearly one-fifth and their imports nearly one-fourth higher compared to the corresponding period last year, which was due to changes in both the exports and imports of line telephone or telegraph sets and their parts, in addition, in the imports of parts of apparatus for radio-broadcasting and in the exports of TV sets. The exports of general industrial machinery and equipment, n.e.s., declined by one-tenth and their imports by one-seventh, which resulted from changes in both the exports and imports of air or vacuum pumps, liquid pumps and taps and cocks for pipes, boiler shells, tanks, vats or the like, n.e.s., in addition, in the imports of transmission shafts, including camshafts and crankshafts. The exports of office machines and automatic data processing machines increased by one-fourth and their imports by nearly one-tenth, which was predominantly due to trade in computers and their components. The exports of electrical machinery, apparatus and appliances, n.e.s., were up by nearly one-tenth, while their imports slightly lessened. The decrease can be explained by changes in the imports of electrical ignition or starting equipment and their parts, and the growth by changes in the exports of electric accumulators and their parts. Both the exports and imports of power generating machinery and equipment were more than one-tenth lower than in the corresponding period of the previous year. The reduction was owing to changes in both the imports and exports of internal combustion engines and their parts, in addition, in the exports of diesel engines and gas turbines.
The export volume of manufactured goods became 0.2% and their imports 8.3% higher. The growth was largely due to a substantial rise in both the exports and imports of medical and pharmaceutical products, in addition, in the imports of professional, scientific and controlling instruments and apparatus related to automotive industry.
The export volume of fuels and electric energy fell by 17% and their import volume by 25%, which can be explained by changes in both the exports and imports of petroleum and petroleum products, as well as natural and manufactured gas, in addition, in the imports of electric current.
The volume of exports of food, beverages and tobacco was up by 12% and the volume of their imports by 5.5%. The growth on the import side resulted from changes in the imports of vegetables and fruits, and that on the export side from changes in the exports of cereals and cereal preparations.
The volume of exports to EU-27 Member States increased by 0.9%, while that of imports from there went down by 5.5%. The surplus on external trade in goods rose by EUR 366 million and amounted to EUR 1.3 billion. These countries accounted for 78% of exports and 68% of imports.
In extra-EU-27 trade, the volume of exports became 3.0% lower, while that of imports 14% larger. The balance of external trade in goods with this group of countries deteriorated by EUR 222 million and showed a deficit of EUR 657 million.
In January–June 2020:
The value of exports amounted to EUR 48.8 billion (HUF 16.8 thousand billion) and that of imports to EUR 46.8 billion (HUF 16.1 thousand billion).
In January–June 2020 compared to a year earlier:
The volume of exports decreased by 9.6% and that of imports by 6.1%.
The surplus on the balance of external trade in goods lessened by EUR 911 million and amounted to EUR 2.0 billion.
The forint price level of external trade in goods rose by 2.5% in imports and by 5.0% in exports compared to the same period of the previous year. The terms of trade improved by 2.4%. The forint depreciated by 7.7% against the euro and by 10% against the dollar.
External trade in goods, January–June 2020
| 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 | 16 765 | 94.9 | 16 071 | 96.2 | 695 | 952 |
| Million EUR | 48 801 | 88.5 | 46 755 | 89.6 | 2 046 | 2 957 |
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Revision of 2019 data
According to final data, the value of exports amounted to EUR 109.1 billion (HUF 35,470 billion) and that of imports to EUR 104.8 billion (HUF 34,057 billion) in 2019. The surplus on the balance of external trade in goods was EUR 4.3 billion (HUF 1,413 billion). The level of exports was EUR 165.4 million (HUF 53.8 billion) and that of imports EUR 686.6 million (HUF 223.5 billion) higher and the surplus EUR 521.1 million (HUF 169.7 billion) lower compared with the second estimate published on 3 March 2020.