Lower Exports, Higher Imports: Higher Hungarian Trade Deficit

The deficit of Hungary's external trade in goods was EUR 121 million last November compared to the same period of the previous year. The volume of exports lessened by 8.6%, that of imports grew by 3.8% over that period, the country's Central Statistical Office (KSH) reports.

The EUR 121 million deficit means that the balance decreased by EUR 765 million year-on-year. The seasonally and working-day adjusted volume of exports increased by 0.1% compared to October 2025, that of imports grew by 3.7%.

In November 2025:
The value of exports amounted to EUR 12.4 billion (HUF 4,780 billion), that of imports was EUR 12.6 billion (HUF 4,826 billion).

In November 2025 compared to a year earlier:
The value of exports decreased by 1.8% and that of imports grew by 4.4% in EUR terms.

According to calendar-adjusted data, the volume of exports fell by 5.9%, that of imports increased by 6.8%.

The HUF price level of the external trade in goods increased by 0.7% in exports and decreased by 5.6% in imports, compared to the same month of the previous year. The terms of trade improved by 6.8%. The HUF exchange rate improved by 6.2% against the EUR and by 14% against the US dollar.

The export volume of machinery and transport equipment decreased by 7.5%, its import volume grew by 7.4%. The aggregate commodity group of machinery and transport equipment hastened the volume decrease in total turnover by 4.3 percentage points on the export side, and contributed to the total volume increase by 3.4 percentage points in imports.

The export volume of manufactured goods decreased by 7.0%, their import volume by 4.0%. The aggregate commodity group of manufactured goods contributed to the volume decrease in total exports by 2.0 percentage points and slowed the volume growth by 1.4 percentage points in imports.

The export volume of fuels and electric energy decreased by 15%, their import volume grew by 22%, year-on-year. The change in the turnover of fuels and electric energy hastened the volume decrease in total turnover by 0.6 percentage points in exports and contributed to the volume increase in imports by 2.2 percentage points.

The export volume of food, beverages and tobacco lessened by 11%, their import volume grew by 1.6%. The volume change realized by the aggregate commodity group hastened the export volume decrease by 0.8 percentage points, and contributed to the volume increase in imports by 0.1 percentage points.