Deficit on external trade in goods amounts to EUR 76 million in November, adjusted volume of exports increases by 3.9% and that of imports by 4.6% compared to October
In November 2021, the volume of exports was 3.1% and that of imports 2.3% smaller than in the same period of the previous year. Compared to November 2019, the volume of external trade was up by 9.3% in exports and by 8.7% in imports. The deficit was EUR 76 million, the balance deteriorating by EUR 682 million compared to a year earlier. Compared to October, the seasonally and working-day adjusted volume of exports increased by 3.9% and that of imports by 4.6%.
In November 2021:
The value of exports amounted to EUR 11.2 billion (HUF 4,065 billion) and that of imports to EUR 11.2 billion (HUF 4,092 billion).
In November 2021 compared to a year earlier:
The value of exports increased by 8.2% and that of imports by 16% in EUR terms.
According to calendar-adjusted data, the volume of exports was cut by 4.2% and that of imports by 2.5%.
The balance of external trade in goods deteriorated by EUR 682 million. (The balance was EUR 157 million lower than that published in the first estimate.)
The forint (HUF) price level of external trade in goods rose by 13% in exports and by 20% in imports compared to the same month of the previous year. The terms of trade deteriorated by 5.7%. The forint exchange rate weakened by 1.3% against the euro and by 5.1% against the dollar.
Calculated at prices in November 2020, the exports of machinery and transport equipment became 4.6% and their imports 3.2% lower. The exports and imports of road vehicles slightly decreased compared to the corresponding period of the previous year. The volume of exports of the commodity group of electrical machinery, apparatus and appliances, n.e.s., slightly lessened, while the volume of their imports went up to about the same extent. The exports of the commodity group of telecommunications and sound recording and reproducing apparatus and equipment diminished slightly and their imports by nearly one-fifth compared to the same period of the previous year. Both the exports and imports of power-generating machinery and equipment were nearly one-tenth lower than in November 2020. The export volume of general industrial machinery and equipment, n.e.s, decreased by nearly one-tenth and their import volume by 1.0%. The aggregate commodity group of machinery and transport equipment contributed by 2.7 percentage points to the volume decline in total exports and by 1.6 percentage points to that in total imports.
The export volume of manufactured goods became 2.1% larger, while their import volume 1.5% smaller. The growth in exports was due to trade in medicinal and pharmaceutical products, while the reduction in imports was mostly influenced by trade in professional, scientific and controlling instruments and apparatus. The aggregate commodity group of manufactured goods lowered the volume decrease in total exports by 0.6 percentage point and raised that in total imports by 0.6 percentage point.
The export volume of fuels and electric energy was 17% and their import volume 6.4% lower than in the same period of the previous year. The decreases can be explained primarily by declines in the exports of electric current and in the imports of natural and manufactured gas. Fuels and electric energy increased the rate of reduction in both total exports and total imports by 0.3 percentage point.
The volume of exports of food, beverages and tobacco diminished by 2.8% and the volume of their imports was up by 13%. The decrease in exports was driven by cereals and cereal preparations as well as tobacco and tobacco manufactures and the growth in imports by cereals and cereal preparations. The volume change realised by the aggregate commodity group raised the decrease in total exports by 0.2 percentage point and lowered that in total imports by 0.7 percentage point.
The volume of exports to EU-27 Member States became 4.3% smaller and that of imports from there 4.9% larger. The balance of external trade in goods deteriorated by EUR 1.0 billion and a surplus of EUR 329 million was generated. This group of countries accounted for 77% of exports and 73% of imports.
In extra-EU-27 trade, the volume of exports was up by 1.0% and that of imports declined by 18%. The balance of external trade in goods with these countries improved by EUR 326 million and showed a deficit of EUR 405 million.
In January–November 2021:
The value of exports amounted to EUR 109.3 billion (HUF 39.1 thousand billion) and that of imports to EUR 107.1 billion (HUF 38.3 thousand billion).
In January–November 2021 compared to a year earlier:
The volume of exports rose by 7.8% and that of imports by 8.6%.
The surplus on the balance of external trade in goods decreased by EUR 3.1 billion and amounted to EUR 2.2 billion.
The forint price level of external trade in goods was up by 7.3% in exports and by 11% in imports compared to the corresponding period of the previous year. The terms of trade deteriorated by 3.0%. The forint weakened by 2.1% against the euro and strengthened by 2.6% against the dollar.
External trade in goods, January–November 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 | 39 112 | 115.7 | 38 318 | 120.1 | 794 | 1 885 |
| Million EUR | 109 300 | 113.2 | 107 096 | 117.4 | 2 204 | 5 339 |