Surplus on external trade in goods amounts to EUR 629 million in June, adjusted volume of exports down by 1.6% and that of imports by 1.8% compared to May
In June 2021, the volume of both exports and imports rose by 16% compared to the same period of the previous year. Compared to June 2019, the volume of external trade grew by 17% in exports and by 16% in imports. The surplus was EUR 629 million, the balance deteriorating by EUR 98 million compared to a year earlier. Compared to May, the seasonally and working-day-adjusted volume of exports decreased by 1.6% and that of imports by 1.8%.
In June 2021:
The value of exports amounted to EUR 10.5 billion (HUF 3,676 billion) and that of imports to EUR 9.9 billion (HUF 3,456 billion).
In June 2021 compared to a year earlier:
The value of exports was up by 22% and that of imports by 25% in EUR terms.
According to calendar-adjusted data, the volume of exports became 12% and that of imports 13% larger.
The balance of external trade in goods deteriorated by EUR 98 million. (The surplus was EUR 51 million lower than that published in the first estimate.)
The forint (HUF) price level of external trade in goods rose by 5.2% in exports and by 8.4% in imports compared to the same month of the previous year. The terms of trade deteriorated by 3.0%. The forint exchange rate weakened by 0.6% against the euro and strengthened by 5.9% against the dollar.
Calculated at prices in June 2020, the exports of machinery and transport equipment grew by 21% and their imports by 24%. The exports of road vehicles increased by nearly a quarter and their imports by more than a quarter compared to the corresponding period of the previous year. The volume of the commodity group of electrical machinery, apparatus and appliances, n.e.s., rose by more than a third on the export side and by nearly a third on the import side. A major contributor to growth was also the commodity group of telecommunications and sound recording and reproducing apparatus and equipment, the exports of which became more than one-seventh and the imports nearly one-seventh higher compared to the same period of the previous year. Both the exports and imports of general industrial machinery and equipment increased by more than a quarter. The exports of power-generating machinery and equipment was up by one-seventh and their imports by more than a third compared to June 2020. Out of all main groups of commodities, the main contributor to the change in the volume of total trade was machinery and transport equipment, with 12 percentage points in the case of both exports and imports.
The export volume of manufactured goods became 16% and their import volume 13% larger. The growth of trade flows was due to the exports and imports of medicinal and pharmaceutical products mainly, in addition, the exports of professional, scientific and controlling instruments and apparatus as well as plastics in primary forms, and the imports of iron and steel. Manufactured goods increased the total change in volume by 4.9 percentage points in exports and by 5.1 percentage points in imports.
The export volume of fuels and electric energy became 16% and their import volume 18% lower than in the same period of the previous year. The decrease in both exports and imports can be explained by a drastic decline in trade in natural and manufactured gas, in addition, the changes in trade were also influenced by slight decreases in the imports of petroleum and petroleum products as well as electricity. Despite the decrease in volume, there was a growth in the value data of each commodity group, consistently with a rise in the price level. Fuels and electric energy reduced the rate of the total growth of trade by 0.4 percentage point in exports and by 0.9 percentage point in imports.
The volume of exports of food, beverages and tobacco increased by 1.4% and the volume of their imports by 9.7%. The growth in both exports and imports was driven mainly by the commodity group of feeding stuff for animals (without cereals) and edible products and preparations, n.e.s, in addition, the increase in imports was also due to changes in trade in vegetables and fruits and the growth of exports to changes in trade in meat and meat preparations. The volume change realised by the total main commodity group contributed by 0.1 percentage point to the increase of total exports and by 0.5 percentage point to that of total imports.
The volume of exports to EU-27 Member States became 15% and the volume of imports from there 22% higher. The surplus on external trade in goods decreased by EUR 361 million and amounted to EUR 965 million. These countries accounted for 77% of exports and 72% of imports.
In extra-EU-27 trade, the volume of exports grew by 23% and that of imports by 2.2%. The balance of external trade in goods with this group of countries improved by EUR 263 million and showed a deficit of EUR 336 million.
In January–June 2021:
The value of exports amounted to EUR 59.6 billion (HUF 21.4 thousand billion) and that of imports to EUR 55.9 billion (HUF 20.0 thousand billion).
In January–June 2021 compared to a year earlier:
The volume of exports rose by 21% and that of imports by 16%.
The surplus on the balance of external trade in goods increased by EUR 1.6 billion and amounted to EUR 3.7 billion.
The forint price level of external trade in goods was up by 5.2% in exports and by 6.9% in imports compared to the corresponding period of the previous year. The terms of trade deteriorated by 1.6%. The forint depreciated by 3.7% against the euro and strengthened by 5.2% against the dollar.
External trade in goods, January–June 2021
| 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 | 21 354 | 126.9 | 20 043 | 124.4 | 1 311 | 715 |
| Million EUR | 59 591 | 121.7 | 55 920 | 119.3 | 3 670 | 2 095 |
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Revision to 2020 data
According to final data, the value of exports amounted to EUR 105.0 billion (HUF 36,833 billion) and that of imports to EUR 99.4 billion (HUF 34,849 billion) in 2020. The surplus on the balance of external trade in goods was EUR 5.6 billion (HUF 1,984 billion). The level of exports was higher by EUR 496.2 million (HUF 176.8 billion) and that of imports by EUR 672.9 million (HUF 238.8 billion), and the surplus was lower by EUR 176.7 million (HUF 62.0 billion) compared to the second estimate published on 4 March 2021.