The volume of export increased by 3.2% in July 2023, while that of import decreased by 5.4% compared to the same period of the previous year. The surplus was EUR 559 million, the balance improved by EUR 1.9 billion year-on-year, the Central Statistical Office reports.
Compared to June, the seasonally and working-day adjusted volume of export decreased by 1.6% and that of import lessened by 0.2%.
In July 2023:
The value of export amounted to EUR 11.3 billion (HUF 4,266 billion), that of import to EUR 10.7 billion (HUF 4,054 billion).
In July 2023 compared to a year earlier:
The value of export increased by 3.3%, while that of import decreased by 13% in EUR terms.
According to calendar-adjusted data, the volume of export grew by 3.5% and that of import decreased by 4.5%.
The balance of the external trade in goods improved by EUR 1.9 billion. (The balance is EUR 138 million lower than the one published in the first estimate.)
The HUF price level of the external trade in goods decreased by 5.7% in exports and was down by 13% in imports compared to the same month of the previous year. The terms of trade improved by 8.3%. The HUF exchange rate strengthened by 6.2% against the EUR and by 14% against the US dollar.
Calculated at July 2022 prices, the export of machinery and transport equipment grew by 4.8%, while their import declined by 8.7%. The export volume of the commodity group of road vehicles grew by more than one-fifth, its import volume slightly increased compared to the corresponding period of the previous year. The volume of export of the commodity group of electrical machinery, apparatus and appliances, n.e.s., grew by a few percentage while its import lessened by the same extent. The export volume of power generating machinery and equipment slightly lowered while its import volume grew by more than one-tenth. The export turnover of the commodity group of telecommunication and sound recording and reproducing apparatus decreased by nearly one-tenth, its import lessened by more than one-tenth compared to the same period of the previous year. The aggregate commodity group of machinery and transport equipment contributed to the volume growth in total exports by 2.6 percentage points, while raised on the total import side the volume decrease by 3.6 percentage points.
The export volume of manufactured goods became 1.7% lower, their import volume lessened by 5.0%. The volume changes were impacted by the turnover of plastic raw materials in imports and rubber products in exports. The aggregate commodity group of manufactured goods lessened the volume growth in total exports by 0.5 percentage points and raised the overall volume decline on the total import side by 1.7 percentage points.
The export volume of fuels and electric energy increased by 46%, their import volume was 11% higher than in the same period of the previous year. The growth in both directions was due to the significant increase in the volume of electric current. Fuels and electric energy increased the turnover change rate by 1.8 percentage points on the export side, while moderating the volume decrease on the import one by 1.6 percentage points.
The export volume of food, beverages and tobacco became 2.9% lower, their import volume decreased by 11%. The volume reduction was mainly driven by vegetables and fruit in exports and cereals and cereal preparations in imports. The reduction realised by the aggregate commodity group moderated the total export turnover volume by 0.2 percentage points while increased the import decline rate by 0.5 percentage points.
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