Hungary Maintains Positive Trade Surplus amid Fluctuating Exports

In August 2024, the country experienced a decline in external trade, with exports falling by 4.1% and imports down by 4.2% compared to the same period last year, according to the Hungarian Central Statistical Office (KSH). The value of exports reache

By: hungarytoday.hu

Oct 07 2024
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Hungary Maintains Positive Tra

The value of exports reached EUR 10.9B (HUF 4,305B), while imports amounted to EUR 10.2B (HUF 4,040B), leading to a trade balance of EUR 671M (HUF 265B). This represents a deterioration of the trade balance by EUR 10M compared to previous figures.

The balance of trade in external goods. Picture: ksh.hu

The level of foreign trade in goods was significantly lower than the previous month, with exports down by 7.8% and imports decreasing by 12%.

Notably, Hungary’s trade continues to be heavily reliant on EU Member States, with 75% of exports and 70% of imports taking place within the EU27 framework.

As Hungary Today earlier reported, the trade surplus had previously increased by EUR 167M in July, indicating a generally positive trend earlier in the year despite the current slowdown. Additionally, while Hungary has faced challenges in its trade dynamics, there was a reported EUR 1B export surplus despite the overall trade slowdown in recent months.

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