KSH: The foreign trade surplus in goods was 903 million euros in January

By: Trademagazin Date: 2025. 02. 28. 11:39

In January 2025, the volume of exports exceeded the level of the same period of the previous year by 2.5 percent, while imports fell short by 1.3 percent. The surplus was 903 million euros, the balance improved by 343 million euros compared to a year earlier, the Central Statistical Office (KSH) reported on Friday, based on its first estimate.

Compared to December 2024, the seasonally and working day-adjusted volume of exports increased by 0.4 percent, while imports remained essentially unchanged.

In January, the value of exports was 11.9 billion euros (4,920 billion forints), while imports were 11.0 billion euros (4,549 billion forints).

Compared to a year earlier, the value of exports in euros increased by 3.8 percent, while imports increased by 0.8 percent.

Adjusted for calendar effects, the volume of exports increased by 2.7 percent, while imports decreased by 1.3 percent.

The price level of foreign trade turnover measured in forints increased by 7.1 percent in exports and 8.5 percent in imports compared to the same month of the previous year. The terms of trade deteriorated by 1.3 percent. The forint exchange rate weakened by 7.8 percent against the euro and 14 percent against the dollar.

In detail, the Central Statistical Office (KSH) reported that the export volume of machinery and transport equipment decreased by 1.2 percent, while its import volume decreased by 4.0 percent. The main commodity group of machinery and transport equipment slowed down the volume growth of total turnover by 0.7 percentage points on the export side, and increased its decline by 1.8 percentage points on the import side.

The export volume of processed products increased by 3.4 percent, while its import volume decreased by 1.3 percent. The main commodity group of processed products contributed 1.1 percentage points to the growth in total export volume in exports, while it strengthened the decline in total imports by 0.5 percentage points in imports.

The export volume of energy carriers was 80 percent higher and the import volume by 10 percent higher than a year earlier. The increase in the volume of energy carriers on the export side increased the growth rate of total turnover by 2.3 percentage points and offset the decrease in the volume of total imports by 1.0 percentage points.

The volume of exports of food, beverages and tobacco was 0.6 percent lower and that of imports by 0.9 percent. The volume change realized by the main commodity group offset the volume growth of total turnover by 0.1 percentage points in exports, while it strengthened the volume decrease of total turnover by the same amount in imports.