Surplus on external trade in goods amounts to EUR 272 million in August
In August 2020, the volume of exports increased by 1.5% and that of imports was unchanged compared to the same period of the previous year. The surplus was EUR 272 million, the balance improved by EUR 257 million compared to August 2019. According to calendar-adjusted data, the export volume grew by 4.4% and the import volume by 3.2%. In January–August 2020, the surplus on the balance of external trade in goods amounted to EUR 2.5 billion, EUR 526 million less than a year earlier.
In August 2020:
The value of exports amounted to EUR 7.9 billion (HUF 2,762 billion) and that of imports to EUR 7.6 billion (HUF 2,668 billion).
In August 2020 compared to a year earlier:
The value of exports decreased by 2.2% and that of imports by 5.3% in EUR terms.
The balance of external trade in goods improved by EUR 257 million. (The surplus was EUR 21 million more than that published in the first estimate.)
The forint (HUF) price level of external trade in goods went up by 1.2% in imports and by 3.1% in exports compared to the same month of the previous year. The terms of trade improved by 1.9%. The forint exchange rate weakened by 6.7% against the euro and by 0.4% against the dollar.
Calculated at prices in August 2020, the exports of machinery and transport equipment increased by 2.1% and their imports by 0.6%. The exports and imports of road vehicles slightly rose compared to the corresponding period of the previous year. The growth in exports was due to changes in trade in passenger cars and in imports to changes in trade in parts of motor vehicles. Both the exports and imports of telecommunications and sound recording and reproducing apparatus and equipment were up by more than one-tenth compared to the corresponding period last year, which was due to changes in the exports of TV sets and in the imports of line telephone or telegraph sets and their parts, as well as of parts of apparatus for radio-broadcasting. Trade in general industrial machinery and equipment, n.e.s., slightly declined on the export side, while a similar increase was observed on the import side. The reduction in exports was caused by changes in trade in air or vacuum pumps, while the growth in imports by changes in trade in centrifuges and lifting, handling, loading or unloading machinery. The exports of electrical machinery, apparatus and appliances, n.e.s., went up by one-tenth, while their imports slightly lessened. The growth in exports can be explained by changes in trade in electric accumulators and their parts, electrical transformers and their parts as well as insulated electric wires and cables, while the reduction in imports by changes in trade in electronic integrated circuits and microstructure. The exports of power generating machinery and equipment were more than one-tenth and their imports barely lower compared to the corresponding period of the previous year. The decrease in exports was owing to changes in trade in diesel engines and petrol engines and in imports to changes in trade in gas turbines.
The export volume of manufactured goods became 2.3% and their imports 6.5% more. The growths were due to changes in trade in medical and pharmaceutical products on both sides, in addition, professional, scientific and controlling instruments and apparatus in imports and chemical materials and products, n.e.s., in exports.
The export volume of fuels and electric energy became 8.5% and their import volume 22% lower. The volume decrease can be explained by changes in trade in natural and manufactured gas as well as electric current on both sides, in addition, by changes in the imports of petroleum and petroleum products.
The volume of exports of food, beverages and tobacco became 2.8% larger, while the volume of their imports 1.8% smaller. The growth on the export side resulted from changes in trade in cereals and cereal preparations as well as vegetables and fruits, and the reduction on the import side from changes in trade in meat and meat preparations.
The volume of exports to EU27 Member States was up by 1.5%, while that of imports from there went down by 0.9%. The surplus on external trade in goods rose by EUR 146 million and amounted to EUR 595 million. These countries accounted for 77% of exports and 72% of imports.
In extra-EU27 trade, the volume of exports became 1.2% and that of imports 2.2% higher. The balance of external trade in goods with this group of countries improved by EUR 111 million and showed a deficit of EUR 323 million.
In January–August 2020:
The value of exports amounted to EUR 65.3 billion (HUF 22.5 thousand billion) and that of imports to EUR 62.8 billion (HUF 21.7 thousand billion).
In January–August 2020 compared to a year earlier:
The volume of exports decreased by 7.1% and that of imports by 4.7%.
The surplus on the balance of external trade in goods lessened by EUR 526 million and amounted to EUR 2.5 billion.
The forint price level of external trade in goods rose by 2.3% in imports and by 4.5% in exports compared to the same period of the previous year. The terms of trade improved by 2.2%. The forint depreciated by 7.6% against the euro and by 8.6% against the dollar.
External trade in goods, January–August 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 | 22 544 | 97.1 | 21 679 | 97.5 | 865 | 983 |
| Million EUR | 65 336 | 90.5 | 62 812 | 90.8 | 2 525 | 3 050 |