The surplus of external trade in goods was EUR 393 million in December
In December 2018, the export volume was 1.7% and the import volume was 3.9% higher than in the same period of the previous year. The surplus was EUR 393 million, EUR 178 million less than the figure in December 2017. According to calendar-adjusted data, export and import volumes rose by 3.7% and 5.3%, respectively. In 2018, the external trade in goods surplus was EUR 5.6 billion.
In December 2018:
The value of exports amounted to EUR 7.7 billion (HUF 2,471 billion) and that of imports to EUR 7.3 billion (HUF 2,344 billion).
In December 2018 compared to the same month of the previous year:
The value of exports rose by 2.5% and that of imports by 5.3% in EUR terms.
The surplus on external trade in goods was down by EUR 178 million. (The balance is EUR 5 million less than the value published in the first estimate.)
The forint price level of external trade in goods increased by 4.3% in imports and by 3.8% in exports compared to the same month of the previous year. The terms of trade worsened by 0.5%. The forint exchange rate depreciated by 3.1% against the euro and by 7.2% against the dollar.
Calculated at prices of December 2017, the trade of machinery and transport equipment grew by 2.6% in exports and by 6.4% in imports. The trade of road vehicles increased by about one-tenth in both directions compared to the same period of the previous year. The growth in the turnover was dominantly due to the change in the trade of passenger cars and their parts. The exports of power-generating machinery and equipment decreased by more than one-tenth, and their imports were down by slightly. The export volume of telecommunications and sound recording and reproducing apparatus and equipment rose by more than one-fourth, and their import volume was up by nearly one-tenth. The growth of imports was connected to changes in the trade of mobile phones and machines for the reception, conversion and transmission or regeneration of voice, images or other data, incl. switching and routing apparatus. In exports, the change in the trade of TV apparatus was significant. The exports of electrical machinery, apparatus and appliances, n.e.s. were down slightly, while their imports were up by a few per cent. The growth in imports was due to the trade of electronic integrated circuits, and the decrease in exports resulted from the change in the trade of electric conductors for a voltage.
The export volume of manufactured goods didn’t change, while their imports increased by 3.0%. Both the exports and imports of medical and pharmaceutical products grew slightly. The rise of imports was due to the trade of medicines and human and animal blood prepared for therapeutic and other purposes and that of exports was connected to the change in the trade of medicines. The exports of plastics in primary forms went up by a few per cent, and their imports grew by nearly one-tenth. The exports of professional, scientific and controlling instruments and apparatus, n.e.s. were down by more than one-tenth, while their imports grew to the same extent compared to the same period of the previous year. The changes in both directions were due to the trade of automatic regulating or controlling instruments and apparatus and their parts. The exports of iron and steel were down by nearly one-tenth, and their imports were a few per cent lower. The exports and imports of non-ferrous metals slightly increased compared to December 2017. The growth of imports was due to the change in the trade of aluminium sheet, plate and strip, and in the increase of exports, the aluminium rod and profile was dominant. The exports of other metal products were up by a few per cent, and their imports were by nearly one-tenth higher than in the same period of the previous year.
The export volume of fuels and electricity was up by 5.0%, while their import volume decreased by 4.0%. The exports of petroleum, petroleum products and related materials increased by more than one-seventh, while their imports were down by only a few per cent compared to the same period of the previous year. The exports of natural and manufactured gas grew by about one-fifth, while their imports decreased to the same extent. The exports of electricity were down by more than one-tenth, while their imports grew to about the same extent.
The export volume of food, beverages and tobacco grew by 1.3% and their import volume by 0.8%. Both the exports and imports of cereals and cereal preparations increased by nearly one-tenth. In exports, the trade of corn and in imports, that of bread and other bakery products was dominant. The exports of meat and meat preparations went down slightly, while their imports increased. The growth in imports was mainly connected to the trade of prepared and preserved meat, and the decline in exports was due to the change in the trade of pork. The exports of beverages slightly decreased, and their imports rose by more than one-tenth. The increase in imports was connected to the change in the trade of mineral water, and the decline in exports was mainly due to the turnover of wine. The exports of tobacco and tobacco manufactures were down by nearly one-tenth, and their imports fell by a few per cent. The imports of unprocessed tobacco and the exports of non-rod shaped processed tobacco and tobacco substitutes were dominant.
The volume of exports to EU member states was up by 4.3% and that of imports from these countries by 1.2%. The surplus on external trade in goods increased by EUR 196 million and amounted to EUR 717 million. These countries accounted for 80% of exports and 74% of imports.
In extra-EU trade, the volume of exports decreased by 7.5%, while that of imports rose by 13%. The balance of external trade in goods with this group of countries deteriorated by EUR 374 million and showed a deficit of EUR 324 million.
External trade in goods by groups of countries, December 2018*
| Groups of countries | Value, at current prices | Value index calculated from data in |
Volume index | ||
|---|---|---|---|---|---|
| billion HUF | million EUR | HUF | EUR | ||
| same period of previous year=100.0% | |||||
| Imports | |||||
| European Union (EU-28) | 1 739 | 5 387 | 105.4 | 102.2 | 101.2 |
| Extra-EU countries | 604 | 1 879 | 118.4 | 115.3 | 112.8 |
| Total | 2 344 | 7 265 | 108.4 | 105.3 | 103.9 |
| Exports | |||||
| European Union (EU-28) | 1 971 | 6 104 | 108.6 | 105.4 | 104.3 |
| Extra-EU countries | 500 | 1 554 | 95.0 | 92.6 | 92.5 |
| Total | 2 471 | 7 658 | 105.6 | 102.5 | 101.7 |
*Based on raw (unadjusted) data.
In 2018:
The value of exports amounted to EUR 104.9 billion (HUF 33,419 billion) and that of imports to EUR 99.3 billion (HUF 31,654 billion).
In 2018 compared to the previous year:
The volume of exports was up by 4.2% and that of imports by 6.3%.
The surplus on the balance of external trade in goods decreased by EUR 2.5 billion and amounted to EUR 5.6 billion.
The forint price level of external trade in goods increased by 4.0% in imports and by 3.0% in exports compared to the previous year. The terms of trade worsened by 1.0%. The forint depreciated by 3.1% against the euro and appreciated by 1.5% against the dollar.
External trade in goods, 2018
| Denomination | Exports | Imports | Balance | |||
|---|---|---|---|---|---|---|
| value, at current prices | previous year=100.0% | value, at current prices | previous year=100.0% | value, at current prices | in the previous year | |
| Billion HUF | 33 419 | 107.3 | 31 654 | 110.6 | 1 764 | 2 500 |
| Million EUR | 104 885 | 104.2 | 99 327 | 107.3 | 5 557 | 8 078 |