KSH: the foreign trade deficit in goods was 121 million euros in November

By: Trademagazin Date: 2026. 01. 06. 11:23

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In November, the goods trade deficit was 121 million euros, the volume of exports was 8.6 percent lower, and that of imports was 3.8 percent higher than in the same period of the previous year – the Central Statistical Office (KSH) reported on Tuesday.

The balance deteriorated by 765 million euros compared to a year earlier. The seasonally and working day adjusted volume of exports increased by 0.1 percent, while imports increased by 3.7 percent compared to October 2025.

In November, the value of exports was 12.4 billion euros (4,780 billion forints), while imports were 12.6 billion euros (4,826 billion forints).

Compared to the previous year, the value of exports expressed in euros decreased by 1.8 percent, while imports increased by 4.4 percent. Adjusted for calendar effects, the volume of exports decreased by 5.9 percent, while imports increased by 6.8 percent.

The price level of foreign trade turnover in forints increased by 0.7 percent in exports and by 5.6 percent in imports compared to the same month of the previous year. The terms of trade improved by 6.8 percent. The forint exchange rate strengthened by 6.2 percent against the euro and by 14 percent against the dollar, the Central Statistical Office added.

The Central Statistical Office detailed: the export volume of machinery and transport equipment decreased by 7.5 percent, while its import volume increased by 7.4 percent. The main commodity group of machinery and transport equipment increased the decrease in total export volume by 4.3 percentage points on the export side, and strengthened the increase in total import volume by 3.4 percentage points on the import side.

The export volume of processed products decreased by 7.0 percent, and its import volume by 4.0 percent. The main commodity group of processed products accelerated the decrease in total export volume by 2.0 percentage points in exports, and restrained the increase in total import volume by 1.4 percentage points in imports.

The export volume of energy carriers was 15 percent lower, and their import was 22 percent higher than a year earlier. The change in the turnover of energy carriers on the export side increased the volume decrease in total exports by 0.6 percentage points, and on the import side, it strengthened the volume increase in total imports by 2.2 percentage points.

The volume of exports of food, beverages, and tobacco decreased by 11 percent, while that of imports increased by 1.6 percent. The volume change realized by the main commodity group accelerated the volume decrease in total turnover in exports by 0.8 percentage points, and strengthened the volume increase in total turnover in imports by 0.1 percentage points.

The Central Statistical Office announced that the volume of exports to EU member states fell by 8.4 percent, while that of imports from there stagnated. The foreign trade balance of goods deteriorated by 628 million euros compared to the balance in November 2024, with a surplus of 405 million euros. 75 percent of exports and 71 percent of imports were carried out in this relationship.

In trade with countries outside the EU, the volume of exports decreased by 6.4 percent, while imports increased by 12 percent. The foreign trade balance of goods deteriorated by 137 million euros in this relationship, showing a deficit of 526 million euros.

The report summarized:

2025. In January-November, the value of exports was 136 billion euros (54,176 billion forints), while imports were 128 billion euros (51,062 billion forints). Compared to the previous year, the volume of exports decreased by 1.0 percent, while imports increased by 2.3 percent. The foreign trade balance of goods deteriorated by 568 million euros, with a surplus of 7.8 billion euros.

In the first eleven months of the year, the price level of foreign trade goods in forints increased by 3.4 percent in exports and 0.5 percent in imports compared to the same period of the previous year. The terms of trade improved by 2.9 percent. The forint weakened by 1.3 percent against the euro and strengthened by 2.1 percent against the dollar, the Central Statistical Office announced.