The volume of export lessened by 0.3% and that of import surpassed the same period of the previous year’s level by 1.4%. The surplus was EUR 1.0 billion, the balance deteriorated by EUR 53 million, year-on-year. The adjusted volume of export lagged behind the September level by 1.3%, that of import by 1.4%.
In October 2024 the value of export amounted to EUR 12.9 billion (HUF 5,194 billion), that of import was EUR 11.9 billion (HUF 4,776 billion).
In October 2024 compared to a year earlier the value of export decreased by 0.5% and that of import by 0.1% in EUR terms.
According to calendar-adjusted data, the volume of export lessened by 4.0%, that of import decreased by 1.8%.
The balance of the external trade in goods deteriorated by EUR 53 million. (The balance showed a EUR 74 million higher surplus than the one published in the first estimate.)
The HUF price level of the external trade in goods increased by 4.0% in exports and by 2.7% in imports, compared to the same month of the previous year. The terms of trade improved by 1.3%. The HUF exchange rate depreciated by 4.2% against the EUR and by 0.9% against the US dollar.
The export volume of machinery and transport equipment decreased by 3.4%, its import volume did not change. The volume of the commodity group of electrical machinery, apparatus and appliances, n.e.s. decreased nearly by one-fifth in exports, decreasing by one-tenth in imports, too, compared to the same period of last 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 slightly decreased, its import volume, however, improved by almost one-fourth. The volume of the power generating machinery and equipment commodity group decreased somewhat on the export side, and was around one-fifth 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 2.0 percentage points on the export side while it did not have an impact on the import turnover.
The export volume of manufactured goods increased by 4.1%, their import volume by 0.5%. The increase in export volume was due to the significant volume increase in medicinal and pharmaceutical products. The growth in the volume of imports can also be attributed to the group of medicinal and pharmaceutical products. The aggregate commodity group of manufactured goods offset the volume decline in total turnover by 1.2 percentage points in exports and increased the growth in import volume by 0.2 percentage points.
The export volume of fuels and electric energy increased by 2.7%, their import volume was 3.8% higher than one year earlier. The growth on both the export and import side is owing to the increase in the volume of petroleum, petroleum products and related materials.The change in the turnover of fuels and electric energy slowed the volume decline in total turnover by 0.1 percentage point in exports and hastened the general increase in import volume by 0.3.
The export volume of food, beverages and tobacco became 6.3% higher, their import volume increased by 8.3%. The growth in export was largely influenced by the change in the turnover of miscellaneous edible products and preparations, the increase in import was influenced by the turnover change of cereals and cereal preparations. The volume change realised by the aggregate commodity group offset the total export decrease by 0.5 percentage points, and strengthened the import growth by 0.5 percentage points.
The volume of export to the EU-27 Member States lessened by 3.1%, the import from there increased by 3.6%. The balance of the external trade in goods declined by EUR 441 million, generating a surplus of EUR 1304 million. This group of countries accounted for 76% of exports and 71% of imports.
In the extra-EU-27 trade, the volume of export increased by 9.3%, that of import lessened by 3.6%. The balance of the external trade in goods with these countries improved by EUR 388 million, showing a deficit of EUR 265 million.
In January–October 2024 compared to one year earlier the volume of export decreased by 1.8%, that of import by 3.6%.
The balance of the external trade in goods improved by EUR 2.5 billion, the surplus was EUR 10.4 billion.
The HUF price level of the external trade in goods increased by 0.5% on the export side, and lessened by 0.2% on the import one, compared to the same period of the previous year. The terms of trade improved by 0.7%. The HUF depreciated against the EUR by 2.7% and by 2.1% against the US dollar.
