The surplus of the external trade in goods amounted to EUR 665 million in August, compared to July the adjusted volume of export decreased by 0.6% and that of import lessened by 1.6%
The volume of export increased by 0.5% in August 2023, while that of import decreased by 7.6% compared to the same period of the previous year. The surplus was EUR 665 million, the balance improved by EUR 2.3 billion year-on-year. Compared to July, the seasonally and working-day adjusted volume of export decreased by 0.6% and that of import lessened by 1.6%.
In August 2023:
The value of export amounted to EUR 11.3 billion (HUF 4,354 billion), that of import to EUR 10.6 billion (HUF 4,098 billion).
In August 2023 compared to a year earlier:
The value of export decreased by 1.7% and that of import lessened by 19% in EUR terms.
According to calendar-adjusted data, the volume of export decreased by 0.8%, that of import fell by 7.6%.
The balance of the external trade in goods improved by EUR 2.3 billion. (The balance is EUR 44 million lower than the one published in the first estimate.)
The HUF price level of the external trade in goods decreased by 6.0% in exports and was down by 15% in imports compared to the same month of the previous year. The terms of trade improved by 11%. The HUF exchange rate strengthened by 4.2% against the EUR and by 11% against the US dollar.
Calculated at August 2022 prices, the export of machinery and transport equipment grew by 0.5%, their import declined by 15%. The volume of export of the commodity group of electrical machinery, apparatus and appliances, n.e.s., grew by nearly one-tenth, its import lessened by the same extent. The export volume of the commodity group of road vehicles grew by nearly one-tenth, its import volume slightly increased compared to the corresponding period of the previous year. The export turnover of the commodity group of telecommunication and sound recording and reproducing apparatus decreased by one-tenth, its impor volume lessened by more than one-tenth compared to the same period of the previous year. The turnover of the power generating machinery and equipment commodity group fell by nearly one-tenth on the export side, its import volume decreased by a few percent. The aggregate commodity group of machinery and transport equipment contributed to the volume growth in total exports by 0.3 percentage points, while raised on the total import side the volume decrease by 6.1 percentage points.
The export volume of manufactured goods became 4.2% lower, their import volume lessened by 8.7%. The volume reduction was impacted by the turnover of rubber products in exports, and miscellaneous manufactured articles, n.e.s. in imports. The aggregate commodity group of manufactured goods lessened the volume growth in total exports by 1.3 percentage points while raised the overall volume decline on the total import side by 3.0 percentage points.
The export volume of fuels and electric energy increased by 31%, their import volume was 26% higher than in the same period of the previous year. The volume growth can be explained by the significant increase of natural and manufactured gas in exports and petroleum, petroleum products and related materials in imports. Fuels and electric energy increased the turnover change rate by 1.4 percentage points on the export side, while moderated the volume decrease on the import one by 4.3 percentage points.
The export volume of food, beverages and tobacco became 0.2% higher, while their import volume decreased by 12%. The volume reduction was mainly driven by cereals and cereal preparations in both directions. The volume change realised by the aggregate commodity group did not affect the total export turnover, while increased the import decline rate by 0.6 percentage points.
The volume of exports to the EU-27 Member States became 0.8% higher while that of imports from there lessened by 11%. The balance of the external trade in goods improved by EUR 1.7 billion, generating a surplus of EUR 1.2 billion. This group of countries accounted for 77% of exports and 70% of imports.
In the extra-EU-27 trade, the volume of export and import decreased by the same extent, 0.3%. The balance of the external trade in goods with these countries improved by EUR 524 million, showing a deficit of EUR 574 million.
In January–August 2023:
The value of exports amounted to EUR 100.0 billion (HUF 38.2 thousand billion), that of imports to EUR 94.4 billion (HUF 36.1 thousand billion).
In January–August 2023 compared to a year earlier:
The volume of export rose by 5.6%, while that of import lessened by 1.1%.
The balance of the external trade in goods improved by EUR 11.2 billion, the surplus amounted to EUR 5.6 billion.
The HUF price level of the external trade in goods was up by 3.3% in exports, while it declined by 1.8% in imports compared to the corresponding period of the previous year. The terms of trade improved by 5.2%. The HUF strengthened by 0.2% against the EUR and by 1.5% against the US dollar.
External trade in goods, January–August 2023
| Denomination | Exports | Imports | 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 | 38 187 | 109.1 | 36 115 | 97.1 | 2 072 | 4 252 |
| Million EUR | 100 000 | 108.9 | 94 413 | 96.8 | 5 586 | 11 241 |