Surplus on external trade in services was EUR 2.7 billion in the 3rd quarter
In the third quarter of 2019, service exports and imports rose by 6.3% and 3.8% respectively at current prices in EUR compared to the same period of the previous year. The surplus was EUR 2.7 billion, which is EUR 266 million more than in the third quarter of 2018.
In the 3rd quarter of 2019:
The value of exports amounted to EUR 7.4 billion (HUF 2.4 thousand billion) and that of imports to EUR 4.7 billion (HUF 1.5 thousand billion). The surplus of external trade in services added up to EUR 2.7 billion (HUF 887 billion).
52% of the surplus came from travel and 31% from transportation services.
72% of our service exports and 77% of our service imports have been performed with EU countries, generating a surplus of EUR 1.7 billion in this relation.
Our most important partner was Germany with 19% of the total turnover. Our second most important partner, the United States, had a share of 9 % in external trade in services. On the third place is the United Kingdom with its 8% share of the total turnover.
Business services accounted for 36% of total service exports, including 18% for other business services, followed by travel and transport services with 31% and 25% respectively. The former service groups were also dominant in terms of imports: the share of business services was the most outstanding, accounting for 54% of total imports (including 32% for other business services). The import share of transport and travel services was 21% and 19% respectively.
In the 3rd quarter of 2019, compared to the same period of the previous year:
The value of service exports rose by 6.3% in terms of EUR (by 7.6% in HUF) and that of imports by 3.8% (by 5.1% in HUF). The surplus grew by EUR 266 million (by HUF 97 billion).
The improvement in the balance is mainly due to travel, air transport and road transport services.
Our surplus with the European Union increased by 16%, EUR 239 million.
Speaking of non-EU countries our balance improved by EUR 27 million, which is a result of the trade with American countries. Concerning these countries, the surplus of our external trade in services with the United States increased by 37%, EUR 66 million.
January-September, 2019:
The value of exports amounted to EUR 19.8 billion (HUF 6.4 thousand billion) and that of imports to EUR 12.8 billion (HUF 4.1 thousand billion).
Value of external trade in services, January-September, 2019
| Description | Export | Import | Balance | |||
|---|---|---|---|---|---|---|
| Value at current prices | same period of the previous year=100% | Value at current prices | same period of the previous year=100% | Value at current prices | In the same period of the previous year | |
| Billion HUF | 6 409 | 106.0 | 4 148 | 104.8 | 2 262 | 2 090 |
| Million EUR | 19 813 | 104.1 | 12 825 | 103.0 | 6 988 | 6 570 |
January-September, 2019, compared to the same period of the previous year :
The volume of exports increased by 4.1% (EUR 785 million), that of imports by 3.0 % (EUR 368 million).