In May, Hungary’s trade surplus in goods was EUR 1.0 billion, down EUR 218M from last year, according to the Hungarian Central Statistical Office (KSH).
Compared to April, exports fell by 3.1% and imports rose by 1.6%, the surplus was EUR 145M less than the first estimate. Both exports and imports declined by 5.8% and 5.0%, respectively, from the previous year. Exports were valued at EUR 11.9B and imports at EUR 10.9B. In Euro terms, May exports dropped by 8.6% and imports by 7.7%.
Adjusted data showed exports down by 6.0% and imports by 5.3%.
The price level of external trade in goods, measured in forints, rose by 0.9% for exports and 1.1% for imports. The forint weakened by 4.0% against the Euro and by 4.6% against the US Dollar.
Monthly change in the volume of external trade of goods. Picture: ksh.hu
Machinery and transport equipment exports fell by 14%, and imports by 7.7%. Electrical machinery and equipment saw significant declines in both export and import volumes. Road transport equipment exports were nearly 20% lower, while imports were slightly reduced. Telecommunications equipment exports fell by over 10%, while imports saw a slight increase. Power generation machinery exports fell by about 10%, and imports decreased by almost 25%.
Manufactured exports increased by 1.9%, while imports decreased by 6.8%, driven by pharmaceuticals.
Energy product exports rose by 8.7%, and imports by 5.4%, primarily due to increased electricity volumes. Food, beverages, and tobacco exports surged by 20%, while imports grew by 6.6%, driven by cereals, sugar, and honey.
Trade in goods broken down by product category compared with the same month of the previous year. Picture: ksh.hu
Exports to EU27 Member States fell by 7.2% and imports by 0.8%, worsening the trade balance by EUR 775M to a EUR 1.1B surplus. Trade with non-EU countries saw exports drop by 1.1% and imports decrease by 15%, improving the trade balance by EUR 557M to a EUR 96M deficit.
From January to May, exports totaled EUR 61.0B and imports EUR 54.4B, with exports down 1.0% and imports down 6.5% from the previous year.
The trade balance improved by EUR 3.9B to a EUR 6.6B surplus. The HUF price level for exports fell by 2.2% and for imports by 3.7%. The forint weakened by 1.6% against the Euro and by 1.5% against the US Dollar.
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