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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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 goods amounts to EUR 321 million in April, exports decrease by 12% and imports by 7.3% compared to March, External trade in goods, April 2021 (first estimate)

In EUR terms, the value of exports was 73% and that of imports 52% larger in April 2021 than the base in the same period of the previous year, which was low because of the epidemic and the related measures. The balance of external trade in goods improved by EUR 888 million. Compared to the previous month, exports decreased by 12% and imports by 7.3%. Compared to April 2019, the EUR value of exports was 9.2% and that of imports 7.9% higher.

Surplus on external trade in services was EUR 826 million in the 1st quarter, External trade in services, 1st quarter 2021

In the first quarter of 2021 service exports and imports calculated in EUR decreased by 25% and 16% respectively compared to the same period of the previous year. The surplus was EUR 826 million, EUR 724 million less than in the first quarter of 2020. The negative economic impact of the COVID-19 pandemic continues to significantly reduce external trade in services. Exports decreased by 8.4% and imports by 11% compared to the previous quarter.

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.