697 million euro surplus in foreign trade
A still outstanding surplus of 697 million euros was generated in foreign trade in July, thanks to the drop in energy prices compared to last year’s level and the moderation of domestic demand. Thanks to the relatively favorable development of industry exports, the euro value of exports increased by 4.3%, while at the same time, the euro value of imports decreased by about 12.9% due to the decrease in domestic demand and the sharp drop in energy prices.
Accordingly, the foreign trade balance improved significantly, by 2,048 million euros, compared to the deficit of 1,352 million euros a year ago. In the first seven months, the euro value of exports increased by 10.6%, while that of imports decreased by 0.8%, thanks to which the balance of foreign trade turned into a surplus of 9,127 million euros, 5,060 million euros, compared to 4,067 million a year ago. against the euro deficit.
In 2022, overall exports increased by 19.5% compared to the previous year, while the euro value of imports increased by 29%, correspondingly the foreign trade balance worsened by 10,757 million euros, so there was a deficit of 9,133 million euros compared to the previous year. Against a surplus of 623 million euros. Last year’s drastic increase in the prices of energy carriers and other raw materials significantly worsened the exchange rates. The energy balance alone contributed EUR 9,988 million to the deterioration of the foreign trade balance last year.
Related news
Hungarian melons are gaining momentum again: the growing area has increased, exports are strengthening
Although the first melons of this summer have already appeared…
Read more >Milk prices have risen, cottage cheese prices have fallen: the domestic dairy market is undergoing transformation
The price of domestic dairy products showed a significant annual…
Read more >Are we on the verge of an egg crisis?
Both the American and European markets are experiencing price increases…
Read more >Related news
Shoppers’ favorite FMCG brands – YouGov Brand Footprint 2025
The analysis is based on the CRP (Consumer Reach Points)…
Read more >Chicken is getting more expensive, eggs are getting more expensive – this is what awaits Hungarian consumers now
A significant price increase has taken place on the domestic…
Read more >Prices are soaring on the poultry market: chicken, turkey and eggs have also become more expensive
In recent months, a significant price increase has taken place…
Read more >