Hungary's Foreign Trade Balance Worsens

In May 2022, the volume of exports was 12% and that of imports 6.4% higher than in the same period of the previous year. The deficit was EUR 95 million, the balance deteriorating by EUR 166 million compared to a year earlier, Hungary's Central Statistical Office reports.

Compared to April, the seasonally and working-day adjusted volume of exports increased by 1.1% and that of imports decreased by 2.7%.

In May 2022:
The value of exports amounted to EUR 12.3 billion (HUF 4,685 billion) and that of imports to EUR 12.4 billion (HUF 4,711 billion).

In May 2022, compared to a year earlier:
The value of exports increased by 29% and that of imports by 31% in EUR terms.

According to calendar-adjusted data, the volume of exports grew by 4.4% and that of imports by 0.8%.

The balance of external trade in goods deteriorated by EUR 166 million (it was EUR 230 million less favourable than that published in the first estimate).

The forint (HUF) price level of external trade in goods rose by 24% in exports and by 32% in imports compared to the same month of the previous year. The terms of trade deteriorated by 5.7%. The forint exchange rate weakened by 8.6% against the euro and by 25% against the US dollar.