Hungary’s foreign trade posted a surplus of EUR 7bn last year, up by EUR 354 million in comparison to 2012. Accordingly, the volume of exports continued to exceed that of imports, while a dynamic increase was recorded in the total volume of foreign trade.

The rebound of external demand and recent production capacity expansion within the car industry have also boosted foreign trade turnover. Favourable data published lately are also signalling a continued upward trend regarding the volume of foreign trade.

In 2013, on an annual basis, exports and imports were up by 4.8 percent and 5 percent, respectively, compared to the level of 2012. In December last year, exports and imports increased by 14 percent and 13 percent, respectively, in comparison to the last month of 2012. Thus, foreign trade posted a surplus of EUR 303 million in December, EUR 160 million higher than the level in 2012. In 2013, the volume of imports and exports of machinery and equipment, constituting some 50 percent of total trade turnover, gained 4.8 percent and 5.1 percent, respectively, due to the export growth of product groups related to the vehicle manufacturing industry. Thanks to new models produced by Hungarian facilities of car manufacturers, the trade volume of road vehicles was up by some 20 percent, while the volume of import of energy generators and equipment increased by some 10 percent compared to 2012. As far as manufactured products are concerned, both exports and imports gained almost 7 percent. Turnover was higher with regard to products related to the chemicals industry and the vehicle manufacturing sector.

In accordance with the “Opening to the East, keeping with the West” policy formulated in Hungary’s Foreign Trade Strategy, the volume of the country’s foreign trade has increased with both the EU member states and non-EU countries. Hungary’s foreign trade surplus vis-á-vis EU member states, our key trade partners, totalled EUR 9.5bn in 2013. In comparison to 2012, Hungarian exports to and imports from EU member states were up by 4.2 percent and 5.5 percent, respectively. Exports to and imports from non-EU countries were 7.1 percent and 3.9 percent higher, respectively and -- as a result -- the related foreign trade gap narrowed by some EUR 878 million.

(Ministry for National Economy)