Deficit on external trade in goods amounts to EUR 302 million in October, adjusted volume of exports grows by 1.0% and that of imports decreases by 2.9% compared to September
In October 2021, the volume of exports was 10% and that of imports 5.6% smaller than in the same period of the previous year. Compared to October 2019, the volume of external trade declined by 6.1% in exports and by 5.0% in imports. The deficit was EUR 302 million, the balance deteriorating by EUR 1.2 billion compared to a year earlier. Compared to September, the seasonally and working-day adjusted volume of exports increased by 1.0% and that of imports lessened by 2.9%.
In October 2021:
The value of exports amounted to EUR 10.3 billion (HUF 3,704 billion) and that of imports to EUR 10.6 billion (HUF 3,810 billion).
In October 2021 compared to a year earlier:
The value of exports increased by 0.3% and that of imports by 13% in EUR terms.
According to calendar-adjusted data, the volume of exports was cut by 9.2% and that of imports by 5.4%.
The balance of external trade in goods deteriorated by EUR 1.2 billion. (The balance was EUR 33 million more favourable than that published in the first estimate.)
The forint (HUF) price level of external trade in goods rose by 11% in exports and by 19% in imports compared to the same month of the previous year. The terms of trade deteriorated by 6.9%. The forint exchange rate strengthened by 0.5% against the euro and weakened by 0.9% against the dollar.
Calculated at prices in October 2020, the exports of machinery and transport equipment became 15% and their imports 11% smaller. The exports of road vehicles went down by one-fifth and their imports to nearly the same extent compared to the corresponding period of the previous year. The volume of exports of the commodity group of electrical machinery, apparatus and appliances, n.e.s., lessened by nearly one-tenth and the volume of its imports slightly. The exports of power-generating machinery and equipment fell by nearly one-third and their imports by nearly one-fourth compared to October 2020. The exports of the commodity group of telecommunications and sound recording and reproducing apparatus and equipment lessened by more than one-tenth and their imports by nearly one-tenth compared to the same period of the previous year. There was a slight reduction in the volume of the exports of general industrial machinery and equipment, n.e.s, and a decrease of nearly one-tenth in the volume of their imports. The aggregate commodity group of machinery and transport equipment increased the rate of volume decline in total exports by 8.9 percentage points and that in total imports by 5.8 percentage points.
The export volume of manufactured goods became 1.1% lower and their import volume equally larger. The decrease in exports was mostly due to trade in plastics in primary forms and organic chemicals, while the growth in imports was influenced by trade in chemical materials and products, n.e.s., and iron and steel. The aggregate commodity group of manufactured goods raised the rate of volume decrease in total exports by 0.3 percentage point and lowered that in total imports by 0.4 percentage point.
The export volume of fuels and electric energy was 19% and their import volume 3.7% lower than in the same period of the previous year. The decrease in both exports and imports can be explained primarily by the decline in the exports of natural and manufactured gas and in the imports of coal, coke and briquettes. Despite the decrease in volume, a growth was recorded in the exports of the commodity group of coal, coke and briquettes. Fuels and electric energy increased the rate of reduction in total exports by 0.4 percentage point and that in total imports by 0.2 percentage point.
The volume of exports of food, beverages and tobacco became 1.7% lower and the volume of their imports 4.5% higher. The reduction in exports was driven mainly by cereals and cereal preparations, while the growth in imports by vegetables and fruits. The changes in both exports and imports were influenced in addition by the commodity group of coffee, tea, cocoa, spices, and manufactures thereof. The volume change realised by the aggregate commodity group raised the decrease in total exports by 0.1 percentage point and lowered that in total imports by 0.2 percentage point.
The volume of exports to EU-27 Member States became 13% and that of imports from there 5.1% smaller. The balance of external trade in goods deteriorated by EUR 1.1 billion and a surplus of EUR 166 million was generated. This group of countries accounted for 74% of exports and 70% of imports.
In extra-EU-27 trade, the volume of exports lessened by 1.6% and that of imports by 6.5%. The balance of external trade in goods with these countries deteriorated by EUR 149 million and showed a deficit of EUR 468 million.
In January–October 2021:
The value of exports amounted to EUR 98.1 billion (HUF 35.0 thousand billion) and that of imports to EUR 95.9 billion (HUF 34.2 thousand billion).
In January–October 2021 compared to a year earlier:
The volume of exports rose by 9.1% and that of imports by 9.8%.
The surplus on the balance of external trade in goods decreased by EUR 2.5 billion and amounted to EUR 2.3 billion.
The forint price level of external trade in goods was up by 6.8% in exports and by 9.7% in imports compared to the corresponding period of the previous year. The terms of trade deteriorated by 2.6%. The forint depreciated by 2.2% against the euro and strengthened by 3.4% against the dollar.
External trade in goods, January–October 2021
| Denomination | Exports | Imports | Balance | |||
|---|---|---|---|---|---|---|
| value, at current prices | same period of previous year=100.0% | value, at current prices | same period of previous year=100.0% | value, at current prices | in same period of previous year | |
| Billion HUF | 35 047 | 116.5 | 34 226 | 120.5 | 821 | 1 670 |
| Million EUR | 98 142 | 113.8 | 95 863 | 117.6 | 2 280 | 4 732 |