The surplus of the external trade in goods was EUR 167 million, compared to June the adjusted volume of export decreased by 1.0%, that of import lessened by 0.9%.
The volume of export increased by 4.9% and that of import grew by 7.1%, compared to the same period of the previous year. The surplus was EUR 167 million, the balance deteriorated by EUR 398 million year-on-year. Compared to June, the adjusted volume of export decreased by 1.0% and that of import lessened by 0.9%.
In July 2024:
The value of export amounted to EUR 11.8 billion (HUF 4,641 billion), that of import was EUR 11.6 billion (HUF 4,575 billion).
In July 2024 compared to a year earlier:
The value of export increased by 4.8% and that of import grew by 8.8% in EUR terms.
According to calendar-adjusted data, the volume of export lessened by 1.8%, that of import increased by 0.2%.
The balance of the external trade in goods deteriorated by EUR 398 million. (The balance showed a EUR 36 million lower surplus than the one published in the first estimate.)
The HUF price level of the external trade in goods increased by 3.5% in exports and by 5.3% in imports, compared to the same month of the previous year. The terms of trade worsened by 1.7%. The HUF exchange rate depreciated by 3.6% against the EUR and by 5.6% against the US dollar.
The export volume of machinery and transport equipment decreased by 0.7%, their import increased by 4.4%. Export volume of the commodity group of electrical machinery, apparatus and appliances, n.e.s. decreased by one-tenth, and increased somewhat in import. Both the export and import volume of the commodity group of road vehicles declined in almost an identical rate compared to the base period.. The export volume of the commodity group telecommunication and sound recording and reproducing apparatus increased in a small degree, while its import volume increased by nearly one-fifth, year-on-year. The turnover of the power generating machinery and equipment commodity group increased in exports by a minimal amount and decreased in import by nearly one-tenth compared to the same period of the previous year’s level. The aggregate commodity group of machinery and transport equipment slowed the overall volume increase in total turnover by 0.4 percentage points on the export side and contributed to it by 2.0 percentage points on the import one.
The export and import volume of manufactured goods increased equally by 11%. The volume growth was driven by medicinal and pharmaceutical products in both directions. The aggregate commodity group of manufactured goods intensified the overall volume increase in export by 3.2 percentage points, and in import by 4.0 percentage points.
The export volume of fuels and electric energy increased by 27%, their import volume was 5.3% higher than one year earlier. The turnover growth in export can be explained by the significant increase in the volume of natural and manufactured gas, and by the growth of petroleum, petroleum products and related materials’ volume on the import side. The turnover growth in fuels and electric energy contributed to the increase of the overall export volume by 0.7 percentage point, and by 0.5 percentage points of the import one.
The export volume of food, beverages and tobacco became 18% higher, their import volume increased by 9.7%. The volume growth was driven by cereals and cereal preparations on the export side, and by animal feed other than cereals on the import one. The volume change realised by the aggregate commodity group contributed to the total export increase by 1.3 percentage points, and to the import growth by 0.6 percentage points.
The volume of export to the EU-27 Member States became 0.5% higher and that of import from there increased by 5.2%. The balance of the external trade in goods declined by EUR 423 million, generating a surplus of EUR 527 million. This group of countries accounted for 74% of exports and 70% of imports.
In the extra-EU-27 trade, the volume of export increased by 20%, that of import grew by 11%. The balance of the external trade in goods with these countries improved by EUR 25 million, showing a deficit of EUR 360 million.
In January–July 2024:
The value of exports amounted to EUR 85.1 billion (HUF 33.2 thousand billion), that of imports to EUR 77.2 billion (HUF 30.1 thousand billion).
In January–July 2024 compared to one year earlier:
The volume of export decreased by 1.3%, that of import lessened by 4.7%.
The balance of the external trade in goods improved by EUR 3.3 billion, the surplus was EUR 7.9 billion.
The HUF price level of the external trade in goods lessened by 0.5% on the export side, and by 1.5% on the import one, compared to the same period of the previous year. The terms of trade improved by 1.0%. The HUF depreciated against the EUR by 2.6% and by 2.9% against the US dollar.
External trade in goods, January-July 2024
| Denomination | Export | Import | Balance | |||
|---|---|---|---|---|---|---|
| value, at current prices | same period of the previous year=100.0% | value, at current prices | same period of the previous year=100.0% | value, at current prices | change compared to the same period of the previous year | |
| Billion HUF | 33 247 | 98,2 | 30 143 | 93,9 | 3 103 | 1 356 |
| Million EUR | 85 144 | 95,7 | 77 208 | 91,6 | 7 937 | 3 272 |