The surplus of the external trade in goods was EUR 819 million, compared to the previous month,the adjusted volume of export lessened by 0.3%, that of import increased by 1.4%.
The volume of export lessened by 3.8% and that of import surpassed the same period of the previous year’s level by 2.8%, compared to the same period of the previous year. The surplus was EUR 819 million, the balance deteriorated by EUR 639 million, year-on-year. The adjusted volume of export lagged behind the October level by 0.3% in the same period, that of import grew by 1.4%.
In November 2024:
The value of export amounted to EUR 12.6 billion (HUF 5,179 billion), that of import was EUR 11.8 billion (HUF 4,844 billion).
In November 2024 compared to a year earlier:
The value of export decreased by 3.0% and that of import increased by 2.1% in EUR terms.
According to calendar-adjusted data, the volume of export lessened by 1.8%, that of import increased by 6.0%.
The balance of the external trade in goods deteriorated by EUR 639 million. (The balance showed a EUR 77 million higher surplus than the one published in the first estimate.)
The HUF price level of the external trade in goods increased by 8.9% in exports and by 7.4% in imports, compared to the same month of the previous year. The terms of trade improved by 1.4%. The HUF exchange rate depreciated by 8.1% against the EUR and by 10% against the US dollar.
The export volume of machinery and transport equipment decreased by 4.8%, its import volume increased by 12%. The volume of the commodity group of electrical machinery, apparatus and appliances, n.e.s. decreased by nearly one-fifth in exports while slightly increased in import, compared to the same period of the previous year. The export volume of the commodity group of road vehicles slightly declined, its import volume increased in an equal degree, compared to the base period. The export volume of the commodity group telecommunication and sound recording and reproducing apparatus increased in a minimal degree, its import volume, however, grew by nearly one-half. The volume of the power generating machinery and equipment commodity group increased by almost one-tenth on the export side, and was around one-tenth lower on the import one, year-on-year. The aggregate commodity group of machinery and transport equipment increased the volume decline in total turnover by 2.8 percentage points on the export side while increased the import volume growth by 5.0 percentage points.
The export volume of manufactured goods decreased by 2.1%, their import volume lessened by 3.3%. The decrease in export volume was due to the significant volume change in professional and scientific instruments, n.e.s. The loss in the volume of imports can be attributed to the group of chemical materials and products, n.e.s. The volume growth of medicinal and pharmaceutical products was significant in both directions, but wasn’t enough to offset the overall decrease. The aggregate commodity group of manufactured goods contributed to the volume decline in total turnover by 0.6 percentage points in exports and slowed the increase in import volume by 1.3 percentage points.
The export volume of fuels and electric energy increased by 7.4%, their import volume was 8.1% lower than one year earlier. The growth on the export side is owing to the increase in the volume of petroleum, petroleum products and related materials,the decrease on the import side is caused by the substantial fall registered in the import of electric current. The change in the turnover of fuels and electric energy slowed the volume decline in total turnover by 0.2 percentage point in exports and offset the general increase in import volume by 0.8 percentage points.
The export volume of food, beverages and tobacco became 5.1% lower, their import volume increased by 0.5%. The decrease in export was largely influenced by the change in the turnover of cereals and cereal preparations, the relative increase in import was influenced by the turnover change of feedstuff for animals (excluding unmilled cereals). The volume change realised by the aggregate commodity group hastened the total export decrease by 0.4 percentage points, and had no effect in merit on the overall volume growth in import.
The volume of export to the EU-27 member states lessened by 4.8%, the import from there decreased by 1.0%. The balance of the external trade in goods declined by EUR 269 million, generating a surplus of EUR 1.2 billion. This group of countries accounted for 77% of exports and 72% of imports.
In the extra-EU-27 trade, the volume of export decreased by 0.3%, that of import grew by 12%. The balance of the external trade in goods with these countries worsened by EUR 369 million, showing a deficit of EUR 386 million.
In January–November 2024:
The value of exports amounted to EUR 134 billion (HUF 53 thousand billion), that of imports to EUR 123 billion (HUF 48 thousand billion).
In January–November 2024 compared to one year earlier:
The volume of export decreased by 2.0%, that of import by 3.0%.
The balance of the external trade in goods improved by EUR 1.9 billion, the surplus was EUR 11.2 billion.
The HUF price level of the external trade in goods increased by 1.3% on the export side, and by 0.5% on the import one, compared to the same period of the previous year. The terms of trade improved by 0.8%. The HUF depreciated against the EUR by 3.2% and by 2.8% against the US dollar.
External trade in goods, January-November 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 | 52 811 | 99.3 | 48 404 | 97.5 | 4 406 | 874 |
| Million EUR | 133 986 | 96.2 | 122 799 | 94.4 | 11 187 | 1 872 |