In January 2013, the volume of exports and imports was up by 0.9 percent and 3.3 percent, respectively, in comparison to the corresponding period of the previous year. Hungarian exports and imports totalled HUF 1 890bn and HUF 1 793bn, respectively, thus foreign trade posted a surplus of HUF 97bn (EUR 316 million) in the first month of the year.

As far as the main commodity groups are concerned, in January 2013 regarding the most significant category of machines and transport equipment, the volume of exports decreased only slightly, by 0.2 percent, whereas that of imports declined more markedly, by 1.7 percent compared to the same period of the previous year. However, the exports of telecommunications sound recording and reproducing apparatus and equipment decreased substantially, while those of electronic machinery, apparatus and equipment, general industrial machinery and equipment as well as road vehicles increased significantly.

The volume of exports and imports in the case of manufactured products was up by 4.6 percent and 4.9 percent, respectively, in comparison to the figure registered in the corresponding period of the previous year. Within this main commodity group, the export volume of medicine and pharmaceutical products as well as rubber manufactures and non-ferrous metals increased the most dynamically.

The import volume of fuels and electric energy increased very significantly, by 20.4 percent. This increase is attributable to the higher import volume of fossil fuels and products resulting from a change in accounting methods. The volume of exports and imports of food, beverages and tobacco products was down by 7.1 percent and 1.1 percent, respectively, compared to January 2012.

In the first month of this year, exports to and imports from the EU were higher by 1.3 percent and 1.2 percent, respectively, in comparison to the figures registered in the same period of the previous year. Foreign trade with these countries posted a surplus of HUF 277bn (EUR 943 million), which is HUF 11bn (EUR 77 million) more than the surplus in the corresponding period of last year.

The volume of exports vis-à-vis non-EU countries increased by 0.3 percent, while that of imports jumped more significantly, by 7.6 percent, thanks partly to the higher import volume of fuels and electric energy. The relevant foreign trade balance was negative with a margin of HUF 180bn (EUR 627 million), which corresponds to an increase of HUF 23bn (EUR 118 million) compared to the deficit of January last year.

(Ministry for National Economy)