In July 2013, the volume of exports and imports increased by 7.4 percent and 6.4 percent, respectively, compared to the corresponding period of the previous year, thus foreign trade posted a surplus of EUR 448 million in the seventh month of the year. As a result of the Government’s investor-friendly economic policy, recently implemented large investment projects are expected to generate a foreign trade surplus for the entire year of 2013 which will exceed last year’s figure.

As far as the initial seven months of this year is concerned, the improvement was remarkable: the volume of exports and imports was up by 2.6 percent and 3.7 percent, respectively, compared to the figures recorded in the same period of 2012. Foreign trade surplus totalled some EUR 4bn in the period January-July 2013, which as almost on a par with the level of the corresponding period of the previous year.

In the initial seven months of 2013, the volume of exports and imports regarding the foreign trade of machinery and transport equipment, which sector constitutes more than 45 percent of total imports and 53 percent of total exports, both registered growth of 2.8 percent. Within the sector, the foreign trade volume of road vehicles increased dynamically in both directions, thanks to car industry investment projects completed lately. Regarding manufactured products, the volume of exports and imports was higher by 6.8 percent and 6.4 percent, respectively, compared to January-July 2012. New petrochemical projects in Hungary are significantly contributing to trade growth concerning plastics in primary forms, essential oils, perfume materials and cleaning preparations.

With EU member states, which constitute a substantial share of total trade, Hungary’s foreign trade posted a surplus of more than EUR 5.9bn, up by EUR 185.1 million, year-on-year. The volume of Hungarian exports and imports vis-á-vis EU member states increased by 2.0 percent and 1.9 percent, respectively, compared to the first half of the previous year. Vis-á-vis non-EU countries the volume of exports improved by 5.0 percent, while imports increased significantly, by 8.1 percent. Aforementioned data, which signal an upward trend regarding trade with countries inside and outside the EU, confirm the adequacy of the „keeping with the West, opening to the East" policy formulated by Hungary’s foreign trade strategy.

(Ministry for National Economy)