In the fourth month of 2013, exports and imports jumped by 13.7 percent and 10.5 percent, respectively, compared to the level of April last year. As a consequence, the volume of total foreign trade increased by 3 percent in the initial four months of the year – says the latest flash report of the Hungarian Central Statistical Office (KSH) published earlier today.

According to KSH release on foreign trade data, in the initial four months of this year Hungarian exports and imports totalled HUF 7 949bn (EUR 26.8bn) and HUF 7 211 (EUR 24.3bn), respectively. Thus, in the period January-April 2013, Hungarian foreign trade accumulated a significant surplus of HUF 738bn (EUR 2.5bn) compared to the level recorded in the same period of the previous year, HUF 113bn (EUR 334 million) higher than the level of the same period one year ago. In the observed period, the volume of exports was up by 3.1 percent, while that of imports increased by 2.7 percent in comparison to the figure of the corresponding period of last year.

Among main commodity groups, in the significant category of machinery and transport equipment the volumes of exports and imports were 3.5 percent and 2 percent higher, respectively, in comparison to the level of one year ago. The export of road vehicles – thanks to production capacity expansion – increased impressively in the initial four months of 2013 compared to the same period of the previous year. The export growth of office equipment and automatic data processing machines was also dynamic. The import of other transport equipment increased remarkably, which was mainly due to vehicle purchases within the framework of public transport development in Budapest.

The exports and imports of manufactured goods, another commodity group of great weight, both significantly exceeded the levels registered one year ago: the volumes of exports and imports were up by 6.6 percent and 5.8 percent, respectively, in the period January-April 2013. Within this main commodity group, the export of organic chemical products increased substantially. On the other hand, the pace of the export growth of pharmaceuticals and pharmaceutical products was slower than before.

The import volume of fuels and electricity was up by 1.5 percent compared to January-April 2012, while exports and imports of food, beverages and tobacco products were both down by 6.3 percent and 4 percent, respectively.

Hungary’s exports and imports to EU member states, the country’s key partners, totalled EUR 20 510 million and EUR 16 921 million, respectively, in the observed period, thus the Hungarian foreign trade surplus with these countries was HUF 1 067bn, which is HUF 151bn higher than the level recorded in the same period of the previous year. Hungary’s trade deficit vis-á-vis non-EU countries came to HUF 329bn. The volume of imports and exports with these countries increased by 7.2 percent and 4.4 percent, respectively, in the initial four months of the year.

(Ministry for National Economy)