The deficit of the external trade in goods was EUR 168 million in December, the adjusted volume of export increased by 0.6, while that of import decreased by 5.0%, compared to November
In December 2022, the volume of export was 3.5% higher, while that of import was 1,0% lower than in the same period of the previous year. The deficit was EUR 168 million, the balance improved by EUR 190 million year-on-year. Compared to November, the seasonally and working-day adjusted volume of export increased by 0.6%, while that of import decreased by 5.0%. In 2022 export value grew by 19%, import increased by 28%, year-on-year.
In December 2022:
The value of export amounted to EUR 11.2 billion (HUF 4,552 billion), that of import to EUR 11.4 billion (HUF 4,619 billion).
In December 2022 compared to a year earlier:
The value of export increased by 12% and that of import grew by 9.8% in EUR terms.
According to calendar-adjusted data, the volume of export grew by 8.8% and that of import by 5.9%.
The balance of external trade in goods improved by EUR 190 million (being EUR 14 million less favourable than the value published in the first estimate).
The HUF price level of the external trade in goods rose by 20% in export and by 23% in import compared to the same month of the previous year. The terms of trade deteriorated by 2.4%. The HUF exchange rate weakened by 11% against the EUR and by 18% against the US dollar.
Calculated at the December 2021 prices, the export of machinery and transport equipment grew by 15% and their import increased by 1.0%. The export volume of electrical machinery, apparatus and appliances went up by more than one-fourth, their import volume grew by more than one-eighth compared to the corresponding period of the previous year. The export volume of road vehicles increased by nearly one-eighth, their import volume was up by nearly one-seventh. The export volume of office machines and automatic data processing machines grew by nearly one-seventh and their import volume slightly decreased. The export volume of power generating machinery and equipment rose by one-fifth and their import volume increased by more than one-tenth. The export volume of telecommunication and sound recording and reproducing apparatus was down by more than one-tenth, while their import volume decreased by more than one-fifth. The aggregate commodity group of machinery and transport equipment contributed to the total turnover increase in export by 7.8 percentage points and lessened the decrease in import by 0.4 percentage points.
The export volume of manufactured goods decreased by 7.6% and their import volume lessenedby 0.2%. The deterioration of export turnover was mainly due to the miscellaneous manufactured articles and manufactures of metal, n.e.s. trade. The decline on the import side was influenced by the medicinal and pharmaceutical products, too. The aggregate commodity group of manufactured goods decreased the volume growth of total exports by 2.4 percentage points and increased the volume reduction in total imports by 0.1 percentage point.
The export volume of fuels and electric energy decreased by 27% and their import volume by 24% compared to the same period of the previous year. On both sides of the trade the volume changes were mainly influenced by the commodity group of natural and artificial gas and electric current, in addition, the decrease in the trade on the import side was driven by petroleum, petroleum products and related materials as well. Fuels and electric energy decreased the growth in total exports by 1.5 percentage points while contributed to the fallback of total imports by 3.5 percentage points.
The volume of export of food, beverages and tobacco lessened by 7.9%, while the volume of their imports was 5.5% higher. The volume changes on both sides were mainly driven by the commodity group of cereals and cereal preparations and meat and meat preparations. In addition, the growth in turnover on the import side was influenced by feeding stuff for animals, too. The volume change realised by the aggregate commodity group contributed to the increase in total exports by 0.6 percentage points, while decreased total imports by 0.3 percentage points.
The volume of exports to the EU-27 Member States became 4.8% higher, while that of import from there decreased by 2.4%. The balance of the external trade in goods improved by EUR 712 million, a surplus of EUR 779 million was generated. This group of countries accounted for 75% of export and 67% of import.
In the extra-EU-27 trade, the volume of export decreased by 0.2%, in turn that of import grew by 1.2%. The balance of the external trade in goods with these countries deteriorated by EUR 522 million, showing a deficit of EUR 947 million.
In January–December 2022:
The value of export amounted to EUR 142.2 billion (HUF 55.6 thousand billion), that of import to EUR 150.8 billion (HUF 59.0 thousand billion).
In January–December 2022 compared to a year earlier:
The volume of export rose by 5.9%, that of import grew by 6.4%.
The balance of the external trade in goods deteriorated by EUR 10.2 billion, the deficit amounted to EUR 8.6 billion.
The HUF price level of the external trade in goods was up by 23% in exports and by 32% in imports compared to the corresponding period of the previous year. The terms of trade deteriorated by 6.5%. The HUF weakened by 9.2% against the EUR and by 23% against the US dollar.
External trade in goods, January–December 2022
| Denomination | Export | Import | Balance | |||
|---|---|---|---|---|---|---|
| value, at current prices | same period of the previous year=100.0% | value, at current prices | same period of the previous year=100.0% | value, at current prices | in the same period of the previous year | |
| Billion HUF | 55 609 | 130.1 | 58 992 | 139.9 | –3 383 | 584 |
| Million EUR | 142 189 | 119.3 | 150 781 | 128.2 | –8 592 | 1 623 |