KSH: in May, the product foreign trade surplus was 1.1 billion euros

By: Trademagazin Date: 2023. 08. 01. 12:11

In May, the export volume increased by 3.9 percent, while the import volume decreased by 1.3 percent compared to the same period of the previous year. The assets were 1.1 billion euros, the balance improved by 1.4 billion euros compared to a year earlier, the Central Statistical Office (KSH) announced on Tuesday based on its second estimate.

Compared to April, the seasonally and working day-adjusted volume of exports increased by 4.0 percent, and that of imports by 0.3 percent.

In May, the value of exports was 13.0 billion euros (4,859 billion forints), and the value of imports was 11.9 billion euros (4,441 billion forints).

Expressed in euros, the value of exports increased by 6.2 percent compared to the previous year, while that of imports decreased by 4.8 percent. Adjusted for the calendar effect, the volume of exports increased by 6.6 percent, and that of imports by 0.3 percent.

The product foreign trade balance improved by 1.4 billion euros. (The balance is EUR 40 million more than reported in the first estimate.) The price level of foreign trade product turnover, measured in HUF, increased by 0.1 percent in exports and decreased by 5.2 percent in imports compared to the same month of the previous year. The exchange ratio improved by 5.6 percent. The exchange rate of the forint strengthened by 3.1 percent against the euro, and by 5.7 percent against the dollar, KSH added.