The surplus of the external trade in services was EUR 2.2 billion in the 4th quarter, EUR 9.0 billion in 2022
In the 4th quarter of 2022 service exports calculated in EUR increased by 18%, their imports grew by 8.7% compared to the same period of the previous year. The surplus was EUR 2.2 billion, EUR 724 million more than in the 4th quarter of 2021. Exports decreased by 6.1%, imports increased by 0.7%, the surplus fell by EUR 536 million compared to the previous quarter. The surplus of the external trade in services was EUR 9.0 billion, EUR 3.1 million more year-on-year.
In the 4th quarter of 2022:
The value of exports amounted to EUR 7.6 billion (HUF 3.1 thousand billion), that of imports to EUR 5.4 billion (HUF 2.2 thousand billion). The surplus of the external trade in services added up to EUR 2.2 billion (HUF 897 billion).
Among service groups, transport services contributed with an increase of EUR 711 million, travel with EUR 611 million and business services with EUR 497 million to the surplus of the 4th quarter of 2022.
63% of our service exports and 70% of our service imports were transacted with EU Member States, generating a surplus of EUR 991 million in this relation.
Germany continues to be our number one partner in trade, with a 19% share of the total turnover. Our second most important partner, the United States, had a 9.5% part, while Austria, on the third place, had an 7.3% share in the external trade in services.
The proportion of business services was 47% out of total service exports,(including 25% for other business services), followed by transport services with 29% then travel with a share of 15%. The part of business services was the most relevant on the import side, too, accounting for 57% of total imports (including 33% for other business services), while the proportion of transport services was 28% and that of travel was 10%.
In the 4th quarter of 2022, year-on-year:
The value of service exports grew by 18% in terms of EUR (by 33% in HUF), that of imports by 9% (by 23% in HUF). The surplus exceeded the year-on-year excess by EUR 724 million (by HUF 365 billion).
The increase in the surplus is mainly explained by the rise in the balance of business services by EUR 442 million.
Our surplus within the European Union trade almost doubled, improved by EUR 494 million, the EUR 152 million improvement in the surplus registered with our most important partner, Germany significantly contributed to this trend.
In the case of the countries outside the EU, our balance improved by EUR 230 million, or 24%. The balance improvement of the highest value, EUR 104 million, was registered in the United States relation.
In 2022:
The value of exports amounted to EUR 29.5 billion (HUF 11.6 thousand billion), that of imports to EUR 20.4 billion (HUF 8.0 thousand billion).
Value of external trade in services, 2022
| Description | Export | Import | Balance | |||
|---|---|---|---|---|---|---|
| Value at current prices | The previous year=100% | Value at current prices | The previous year=100% | Value at current prices | In the previous year | |
| Billion HUF | 11 558 | 140.5 | 8 017 | 131.0 | 3 541 | 2 111 |
| Million EUR | 29 452 | 128.3 | 20 437 | 119.8 | 9 015 | 5 899 |
In 2022, year-on-year:
The value of exports increased by 28% (EUR 6.5 billion) that of imports grew by 20% (EUR 3.4 billion).
Information on the data revision in external trade in services:
Figures of Q1-Q4 of 2021 and those of Q1-Q3 of 2022 (manufacturing services on physical inputs owned by others, travel, maintenance and repair services, transport, business and government services) were modified based on company data adjustments. Compared to the previously published euro-data, the value of exports in EUR increased by 3.6%, that of imports by 3.7% in 2021, while for the Q1-Q3 of 2022 period exports increased by 6.9% and imports grew by 5.6%.