External trade and balance of payments

External trade statistics are made up of two main areas. Goods trade statistics collect data on the movement of physically existing goods among countries, while external services trade statistics take account of international trade in typically intangible services (e.g. travel, transport). Although services account for the larger part of production, some four-fifths of external trade is in goods. The difference is due to the differing degrees of storability and transportability. The balance of payments is a statistical statement that systematises the economic transactions of a particular country with the rest of the world in a particular period.

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Deficit on external trade in goods amounts to EUR 475 million in April, External trade in goods, April 2022 (first estimate)

The value of exports was 12% and that of imports 21% larger in EUR terms in April 2022 than in the same period of the previous year. The balance of external trade in goods deteriorated by EUR 812 million. Compared to the previous month, the level of goods exports decreased by 8.9% and that of goods imports by 10%.

Surplus of external trade in services was EUR 1418 million in the 1st quarter, External trade in services, 1st quarter 2022

In the first quarter of 2022 service exports calculated in EUR increased by 28% and imports by 19% compared to the same quarter of the previous year. The surplus was EUR 1418 million, EUR 552 million more than in the first quarter of 2021. Exports decreased by 6.0% and imports by 7.8% compared to the previous quarter, while the balance remained at close to the same level.

Hungary's external trade in 2019

The corona virus epidemic reached global levels in March 2020. The government's and enterprises' measures implemented to mitigate risks influence substantially Hungary's external trade size and structure. The majority of the countries mostly hit by the epidemic belong to Hungary's main partners in external trade in goods. Germany had an outstanding share of 27% of the total trade in goods, the proportion of France, China, Italy and Spain was 2–5% each in 2019.