Hungary's External Trade Deficit EUR 168 Mn, Improving

The deficit of the external trade in goods was EUR 168 million in December, the adjusted volume of export increased by 0.6, while that of import decreased by 5.0%, compared to November, the Central Statistical Office reports.

In December 2022, the volume of export was 3.5% higher, while that of import was 1,0% lower than in the same period of the previous year. The deficit was EUR 168 million, the balance improved by EUR 190 million year-on-year. Compared to November, the seasonally and working-day adjusted volume of export increased by 0.6%, while that of import decreased by 5.0%. In 2022 export value grew by 19%, import increased by 28%, year-on-year.

In December 2022:
The value of export amounted to EUR 11.2 billion (HUF 4,552 billion), that of import to EUR 11.4 billion (HUF 4,619 billion).

In December 2022 compared to a year earlier:
The value of export increased by 12% and that of import grew by 9.8% in EUR terms.

According to calendar-adjusted data, the volume of export grew by 8.8% and that of import by 5.9%.

The balance of external trade in goods improved by EUR 190 million (being EUR 14 million less favourable than the value published in the first estimate).

The HUF price level of the external trade in goods rose by 20% in export and by 23% in import compared to the same month of the previous year. The terms of trade deteriorated by 2.4%. The HUF exchange rate weakened by 11% against the EUR and by 18% against the US dollar.