Institute of Agricultural Economics: the export of agricultural products increased to 9.844 billion euros in the first three quarters
The value of exports of agricultural and food industry products increased to 9.844 billion euros and imports to 6.878 billion euros in the first three quarters of 2022, from exports of 6.519 billion euros and imports of 4.383 billion euros in the first half of 2022, according to the summary of the Institute of Agricultural Economics (AKI).
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According to AKI’s summary, the asset of agricultural foreign trade was 2.966 billion euros, 162.7 million euros more than in the first three quarters of 2021. The export value of agricultural and food industry products increased by 25.4 percent and the import value by 36.3 percent in the first nine months of 2022, the balance was 5.8 percent more than the value of the first three quarters of 2021, the export volume decreased by 10.6 percent, the import volume by 38.6 increased by percent – they announced. The share of agricultural and food industry products in the total export value of the national economy was 9.3 percent in the first three quarters of the year, and 6.2 percent of the import value, they added.
The survey reveals that the export value of almost all product groups has increased
In particular, the export value of cereals and only 2 commodity groups decreased compared to a year earlier. The largest decrease was in plant products, mainly due to the fall in the export value of other live plants, cuttings, grafts, and mushroom sprouts, they explained. The decrease in imports was only for tobacco products, primarily due to the drop in the import value of consumer tobacco, they added.
95.4 percent of Hungarian agricultural exports went to European countries. The most important export and import partners are largely the same, Germany is first in both rankings, AKI announced.
MTI
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