The deficit of the external trade in goods was EUR 1.6 billion in August, the adjusted volume of export increased by 3.0% and that of import by 1.7% compared to July
In August 2022, the volume of export was 18% and that of import was 14% higher than in the same period of the previous year. The deficit was EUR 1.6 billion, the balance deteriorating by EUR 863 million year-on-year. Compared to July, the seasonally and working-day adjusted volume of export increased by 3.0% and that of import by 1.7%.
In August 2022:
The value of export amounted to EUR 11.4 billion (HUF 4,589 billion) and that of import to EUR 13.0 billion (HUF 5,219 billion).
In August 2022 compared to a year earlier:
The value of export increased by 37% and that of import grew by 43% in EUR terms.
According to calendar-adjusted data, the volume of export grew by 11% and that of import by 6.1%.
The balance of external trade in goods deteriorated by EUR 863 million (being EUR 280 million less favourable than the value published in the first estimate).
The HUF price level of the external trade in goods rose by 31% in export and by 42% in import compared to the same month of the previous year. The terms of trade deteriorated by 7.9%. The HUF exchange rate weakened by 14% against the EUR and by 33% against the US dollar.
Calculated at the August 2021 prices, the export of machinery and transport equipment grew by 41% and their import by 26%. The export volume of road vehicles increased by nearly three quarters and that of import volume by nearly one-third. The export volume of electrical machinery, apparatus and appliances went up by more than one-third and their import volume grew by nearly one-third compared to the corresponding period of the previous year. Both the export and import volume of power generating machinery and equipment rose by more than half. The export volume of office machines and automatic data processing machines grew by more than a half and that of import by more than one-third. The export volume of general industrial machinery and equipment went up by more than one-fourth and their import volume increased by nearly one-fourth compared to the same period of the previous year. The volume growth in the aggregate commodity group of machinery and transport equipment increased the same direction turnover in total exports by 20.1 percentage points and in total imports by 11.3 percentage points.
The export volume of manufactured goods increased by 4.7% and their import volume was 11% higher. The growth in the volume of both sides of the trade was mainly influenced by the trade in medicinal and pharmaceutical products and professional, scientific and controlling instruments. The aggregate commodity group of manufactured goods contributed to the volume growth of total exports by 1.6 percentage points and to the volume growth in total imports by 4.1 percentage points.
The export volume of fuels and electric energy decreased by 55% and their import volume lessened by 14% compared to the same period of the previous year. The main contributor to the decrease in both directions was the natural and artificial gas as well as the electric current on the export side. Fuels and electric energy decreased the growth in total exports by 2.4 percentage points and in total imports by 1.3 percentage points.
The volume of export of food, beverages and tobacco grew by 4.5% and the volume of their imports was 13% higher. The volume change in both directions was mainly driven by the commodity group of feeding stuff for animals, in addition, the turnover in exports was also influenced by vegetables and fruits and the growth in imports by cereals and cereal preparations. The volume change realised by the aggregate commodity group contributed to the increase in total exports by 0.4 percentage points and in total imports by 0.7 percentage points.
The volume of exports to the EU-27 Member States became 20% higher and that of import from there increased by 17%. The balance of external trade in goods deteriorated by EUR 430 million, a deficit of EUR 442 million was generated. This group of countries accounted for 75% of export and 69% of import.
In the extra-EU-27 trade, the volume of export increased by 13% and that of import by 7.1%. The balance of external trade in goods with these countries deteriorated by EUR 432 million and showing a deficit of EUR 1.1 billion.
In January–August 2022:
The value of export amounted to EUR 91.9 billion (HUF 35.0 thousand billion) and that of import to EUR 97.0 billion (HUF 37.0 thousand billion).
In January–August 2022 compared to a year earlier:
The volume of export rose by 3.5% and that of import grew by 5.2%.
The balance of the external trade in goods deteriorated by EUR 7.6 billion, the deficit amounted to EUR 5.1 billion.
The HUF price level of the external trade in goods was up by 22% in exports and by 31% in imports compared to the corresponding period of the previous year. The terms of trade deteriorated by 6.9%. The HUF weakened by 7.0% against the EUR and by 20% against the US dollar.
External trade in goods, January–August 2022
| 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 | 35 036 | 126.4 | 36 989 | 138.0 | –1 953 | 906 |
| Million EUR | 91 917 | 118.6 | 96 972 | 129.3 | –5 055 | 2 528 |