KSH: The services foreign trade surplus was 2.2 billion euros in the first quarter

The value of exports was 11 percent lower than in the previous quarter, and that of imports was 9.0 percent lower, which resulted in a surplus that was 446 million euros smaller than in the fourth quarter of 2024, they wrote.

In the first quarter of 2025, the value of exports was 7.8 billion euros (3.2 thousand billion forints), and that of imports was 5.6 billion euros (2.3 thousand billion forints). The surplus of foreign trade in services amounted to 2.2 billion euros (901 billion forints).

Among the service groups, transport services contributed 650 million euros, tourism 625 million euros, and contract labor services 491 million euros to the surplus in the first quarter.

Hungary carried out 64 percent of its service exports and 73 percent of its imports with the member states of the European Union, resulting in a surplus of 955 million euros.

The number one partner was still Germany, with which we carried out 18 percent of our total turnover. The United States took second place, and Austria came third, with 8.4 and 8.2 percent of our total foreign trade turnover in services, respectively.

The share of business services amounted to 44 percent (other business services included 22 percent) of total service exports, but the share of transport services was also significant, with 28 percent and 17 percent respectively for tourism.

In terms of imports, the share of business services was also outstanding, at 56 percent (other business services classified here accounted for 28 percent), while transport services accounted for 27 percent and tourism for 13 percent of the total import turnover.