The most important agricultural foreign trade partner is Germany

By: STA Date: 2024. 06. 28. 11:00

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The value of exports of agricultural and food industry products was 3,570 million euros, and the value of imports was 2,428 million euros in the first quarter of 2024, the asset of agricultural foreign trade was 1,143 million euros, 389 million euros more than in the first quarter of 2023. The export value of agricultural and food industry products increased by 2.7 percent, the import value decreased by 10.9 percent in the first three months of 2024, the balance exceeded the value of the first quarter of 2023 by 51.6 percent in the examined period.

Hungary’s agricultural foreign trade was also concentrated and strongly Europe-centric in the examined quarter: 95.3 percent of the export turnover was with European countries, the share of Asia was 3.1 percent, that of America was 1.1 percent, and the share of Africa and Australia was 0.4-0. It reached a value of around 2 percent.

Among the most important export and import partners, the largest agricultural foreign trade turnover was also with Germany in the first quarter of 2024

Other important partners in descending order of the value of agricultural exports were the following countries: Italy, Romania, Austria, Poland, Croatia, Slovakia, the Czech Republic, the Netherlands and France. The share of the listed countries exceeded 70 percent of the total agricultural export, and the share of the first five largest export markets was 53.5 percent. The most important suppliers of agricultural products are almost identical to the export markets. Four-fifths of the imports came from ten EU member states, the share of the top 5 partners (Germany, Poland, the Netherlands, Slovakia, Austria) reached 56.6 percent of the total value of agricultural imports in the first three months of 2024. AKI PÁIR