According to the latest surveys, this is the reason why our everyday life has become so much more expensive

By: STA Date: 2022. 08. 01. 22:44

In May, the value of exports expressed in euros increased by 29.5 percent, that of imports by 31.4 percent, the liabilities were 95 million euros, the balance worsened by 166 million euros compared to a year earlier, the Central Statistical Office (KSH) announced on Monday based on its second estimate .

According to the KSH, we really live worse at the national level than a year ago. (Photo: Pixabay)

The last time the foreign trade balance was positive was in June of last year. In May, the export volume was 11.6 percent higher than the previous year, while the import volume was 6.4 percent higher than the previous year. Compared to April, the seasonally and working day-adjusted volume of exports increased by 1.1 percent, while imports decreased by 2.7 percent.
The price level of foreign trade product turnover measured in HUF increased by 24.3 percent in exports and 31.8 percent in imports compared to the same month of the previous year. The price index of energy imports more than tripled, rising by 229.3 percent, that of raw materials increased by 39.3 percent, and the price of food imports was 23.7 percent higher than last May.

The exchange ratio deteriorated by 5.7 percent

The exchange rate of the forint weakened by 8.6 percent against the euro and by 28.8 percent against the dollar. In the first five months of the year, exports calculated in euros increased by 16.9 percent and imports by 28.2 percent compared to the same period last year, the import surplus amounted to 1.687 billion euros compared to the export surplus of 2.990 billion euros a year earlier. In January-May, the export of machinery and transport equipment increased by 7.1 percent and its import by 6.1 percent and showed an asset of 6.081 billion euros, of which road vehicles brought in 3.182 billion euros, despite the fact that exports were 6.7 percent lower than last year, while the imports increased by 1.7 percent. The export surplus of news technology products resulted in an asset of 1.840 billion euros, and that of energy generating machines and equipment 1.744 billion euros.

Exports, imports and the deficit also increased

Food exports increased by 16.8 percent, imports by 24.9 percent, and closed the first five months with assets of 1.127 billion euros, the greater half of which, 659 million euros, came from grain trade. The export of processed products was 20.4, and the import was 28.8 percent higher than last January-May and brought a deficit of 3.747 billion euros, of which the import surplus of iron, steel, non-ferrous metals and other metals was 2.738 billion euros, while the foreign trade turnover of pharmaceuticals was 635 an export surplus of EUR billion was generated. The export of energy carriers increased by 9.7 percent at constant prices, while the import decreased by 17 percent, while the KSH measured a 226.1 percent increase in exports and 188.2 percent in imports in euros, while the balance showed a deficit of 5.370 billion euros. Exports increased by 16.8 percent and imports by 30.2 percent, but assets of 2.908 billion euros were still created.


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