KSH: in July, the shortfall in foreign trade was 1.3 billion euros

By: Trademagazin Date: 2022. 10. 03. 10:39

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In July, the value of exports expressed in euros increased by 12.8 percent and imports by 24.1 percent compared to a year earlier, the deficit increased by 1.123 billion euros to 1.298 billion euros and rose by 148 million euros compared to the 1.150 billion euros indicated in the first estimate, the second estimate announced on Monday in its detailed report issued by the Central Statistical Office (KSH).

In July, the shortfall in foreign trade was 1.3 billion euros

Calculated at constant prices, the export volume was 1.3 percent lower, while the import volume was 1.5 percent higher than last July. The price level of foreign trade product turnover, measured in forints, rose by 29.3 percent in exports and 38.3 percent in imports compared to the same month of the previous year. The exchange ratio deteriorated by 6.5 percent. The exchange rate of the forint weakened by 13 percent against the euro and by 31 percent against the dollar.

In July, the import price of energy carriers increased by three times that of a year earlier, by 201.0 percent, while the price increase in exports was 232.3 percent. The export price of food products was 42.0 percent higher than that of last July, while the price of imported goods was 31.3 percent higher. The export volume of energy carriers decreased by 54 percent and the import volume by 16 percent compared to the previous year. Electricity contributed decisively to the decrease in traffic on both sides, which was also influenced by crude oil and petroleum products in exports, and natural and artificial gas in imports. Energy carriers increased the 1.3 percent decrease in volume of total exports by 1.8 percentage points, and curbed the growth of total imports by 1.4 percentage points, the KSH announced.

KSH