According to the latest data, in August 2013 the volume of exports and imports were up by 1.4 percent and 0.4 percent, respectively, in comparison to the corresponding period of the previous year.

Thus foreign trade posted a surplus of EUR 613 million in the eighth month of the year, exceeding the level of July. Between January and August 2013, exports and imports increased by 2.5 percent and 3.2 percent, respectively, compared to figures of 2012.

In August 2013, the value of exports and imports totalled EUR 6.4bn and some EUR 5.8bn, respectively, and thus foreign trade registered a surplus of EUR 613 million. In the initial eight months of 2013, the surplus of foreign trade was EUR 4.6bn, which is almost on a par with the level registered in the same period of the previous year.

In January-August 2013, imports and exports of machinery and transport equipment, which constitute more than 45 percent of total imports and 53 percent of total exports, were up by 2.2 percent and 2.7 percent, respectively. Thanks to car industry investment, which is also supported by the Government, foreign trade regarding road vehicles – exports and imports alike -- soared by more than 10 percent each. As far as manufactured products are concerned, growth of 6.5 percent and 5.8 percent were recorded for exports and imports, respectively, in comparison to January-August 2012. New investment projects within the chemical industry which are being implemented in Hungary have continued to exert positive influence: the trade of plastics in primary forms, essential oils, perfume materials and cleaning preparations show remarkable growth concerning both exports and imports.

With EU member states, which constitute a substantial share of total trade, in January-August 2013 Hungary’s foreign trade posted a surplus of some EUR 6.7bn, up by EUR 82.5 million, year-on-year. Vis-á-vis non-EU countries, the volume of exports improved by 4.7 percent, while imports increased by 6.6 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)