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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Surplus on external trade in goods amounts to EUR 398 million in December, volume of exports lessens by 2.6% and that of imports by 2.7% compared to November, External trade in goods, December 2020 (second estimate)

In December 2020, the volume of exports increased by 14% and that of imports by 12% compared to the same period of the previous year. The surplus was EUR 398 million, the balance improving by EUR 299 million compared to December 2019. Compared to November, the seasonally and working-day-adjusted volume of exports lessened by 2.6% and that of imports by 2.7%. In 2020, the surplus on the balance of external trade in goods amounted to EUR 5.8 billion, EUR 1.5 billion more than one year earlier.

Browse our data on the coronavirus pandemic

It is particularly important to present, in addition to our regular and detailed publications, the current situation of the areas most affected by the pandemic with flash estimates using a limited information base. Our WEEKLY MONITOR presents the economic and social impacts of the pandemic through daily, weekly and monthly updated preliminary data as a collection of interactive diagrams.

Surplus on external trade in services was EUR 810 million in the 4th quarter, External trade in services, 4th quarter 2020

In the fourth quarter of 2020 service exports and imports calculated in EUR decreased by 32% and 25% respectively compared to the same period of the previous year. The surplus was EUR 810 million, being EUR 855 million less than in the 4th quarter of 2019. The negative economic impact of the COVID-19 pandemic somewhat intensified on the export-, while toned down on the import side compared to the previous quarter. Exports decreased by 11% and imports grew by 5.9%.

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.