Published on: 2 December 2020

Surplus on external trade in goods amounts to EUR 1.1 billion in September, exports up by 30% and imports by 20% compared to August

In September 2020, the volume of exports increased by 9.8% and that of imports by 4.8% compared to the same period of the previous year. The surplus was EUR 1.1 billion, the balance improved by EUR 664 million compared to September 2019. According to calendar-adjusted data, the export volume grew by 4.2% and the import volume by 2.2%. Compared to August, the seasonally and working-day-adjusted volume of exports was 2.6% and that of imports 3.0% higher in September. In January–September 2020, the surplus on the balance of external trade in goods amounted to EUR 3.7 billion, EUR 138 million more than one year earlier.

In September 2020:

The value of exports amounted to EUR 10.3 billion (HUF 3,686 billion) and that of imports to EUR 9.1 billion (HUF 3,269 billion). The value of exports was record high.

In September 2020 compared to a year earlier:

The value of exports increased by 6.1%, while that of imports diminished by 0.8% in EUR terms.

The balance of external trade in goods improved by EUR 664 million. (The surplus was EUR 1 million less than that published in the first estimate.)

The forint (HUF) price level of external trade in goods went up by 2.2% in imports and by 4.5% in exports compared to the same month of the previous year. The terms of trade improved by 2.3%. The forint exchange rate weakened by 8.4% against the euro and by 1.2% against the dollar.

Calculated at prices in September 2019, the exports of machinery and transport equipment increased by 11% and their imports by 5.1%. The exports of road vehicles rose by more than one-tenth and their imports slightly compared to the corresponding period of the previous year. The exports of telecommunications and sound recording and reproducing apparatus and equipment were up by one-seventh and their imports by nearly one-tenth compared to the corresponding period last year. In trade in general industrial machinery and equipment, n.e.s., slight increases were observed on both the exports and the imports sides. The exports of electrical machinery, apparatus and appliances, n.e.s., went up by nearly one-quarter and their imports slightly. The exports and imports of power-generating machinery and equipment were a few per cent higher than in the corresponding period of the previous year.

The export volume of manufactured goods became 8.2% and their imports 11% larger. The growths were mainly due to changes in trade in medicinal and pharmaceutical products on both sides, in addition, professional, scientific and controlling instruments and apparatus in imports.

The export volume of fuels and electric energy hardly changed, while their import volume became 21% lower compared to the same period of the previous year. The volume decrease on the import side can be explained by changes in trade in natural and manufactured gas as well as petroleum and petroleum products.

The volume of exports of food, beverages and tobacco became 8.2% and the volume of their imports 5.7% higher. The growth on the export side resulted from changes in trade in cereals and cereal preparations and vegetables and fruits, and that on the import side from changes in trade in tobacco and tobacco manufactures and beverages.

The volume of exports to EU-27 Member States was up by 10% and that of imports from there by 2.5%. The surplus on external trade in goods rose by EUR 595 million and amounted to EUR 1.5 billion. These countries accounted for 78% of exports and 71% of imports.

In extra-EU-27 trade, the volume of exports became 8.0% and that of imports 11% higher. The balance of external trade in goods with this group of countries improved by EUR 68 million and showed a deficit of EUR 344 million.

In January–September 2020:

The value of exports amounted to EUR 75.6 billion (HUF 26.2 thousand billion) and that of imports to EUR 72.0 billion (HUF 24.9 thousand billion).

In January–September 2020 compared to a year earlier:

The volume of exports decreased by 5.1% and that of imports by 3.6%.

The surplus on the balance of external trade in goods went up by EUR 138 million and amounted to EUR 3.7 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 corresponding period of the previous year. The terms of trade improved by 2.2%. The forint depreciated by 7.7% against the euro and by 7.8% against the dollar.

External trade in goods, January–September 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 HUF26 23099.224 94898.61 2821 145
Million EUR75 62192.371 95691.83 6653 527