hungary trade balance

Trade surplus to lend support to IDR in the near term. Under its aegis, trade was conducted between the countries of the Soviet bloc on the basis of specialized production, fixed prices, and barter. Consolidated Fiscal Balance: % of GDP (%), Forecast: Government Expenditure (HUF bn), Central Government Revenue: ytd: TC: Value Added Tax (HUF mn), Central Government Revenue: ytd: TC: ET: Excise Tax (HUF mn), Central Government Expenditure: ytd (HUF mn), Export Volume Index: Same Month Previous Year=100, Import Volume Index: Same Month Previous Year=100. Source: Badan Pusat Statistik . Hungary's trade balance surplus came in at €1.07bn in June 2018, which is €119m higher compared to the same period last year. A positive balance (trade surplus) means that exports exceed imports, a negative one means the opposite. NOTE: All figures are in millions of U.S. dollars on a nominal basis, not seasonally adjusted unless otherwise specified. As for the geographical trends in Hungary’s foreign trade, we can say that the position of the OECD countries and first of all EU countries remained strong. Hungary Inflation Holds Steady at 7-Month Low, Hungary Construction Output Rebounds in November, Hungary Industrial Output Grows More than Expected, Hungary Producer Inflation Softens to 5.5% in November, Hungary Gross Wage Growth Steady in October, Hungary Jobless Rate Rises to 4.4% in September-November, Hungary Factory Activity Expands for 3rd Month, Hungary Current Account Swings to Surplus, Israel Q3 GDP Recovers More than Initially Thought, Gold Falls for 2nd Week on Stronger Dollar, US Stocks Extend Decline, Book Weekly Loss, Dominican Republic Inflation Rate Highest in 7 Years, Sri Lanka Producer Inflation at 6-Month Low. This is the biggest monthly surplus since June 2016, although in the last four years June data has been always outstanding, which could be explained by seasonal effects. The deterioration of our balance is visible in the case of non-European countries. Hungarians tend to be detail-oriented and will need to be sure of every part of a potential business deal before coming to an agreement. Trade Balance prior to January 2002 is sourced from the International Monetary Fund.In the latest reports, Hungary Total Exports reached 12.0 USD bn in Oct 2020, an increase of 15.8 % year on year. Below you will find the last recordings for the indicator : Balance of trade (% of GDP). However, the trade surplus narrowed in 2018 as imports rose faster than exports. Hungary - Hungary - Trade: Hungary was a charter member of Comecon (Council for Mutual Economic Assistance; 1949–91). The result is: -7.24 %. Hungary services export is 29,486,780,323 in BoP, current US$ and services import is 20,609,080,499 in Bop, current US$.Hungary exports of goods and services as percentage of GDP is 84.94% and imports of goods and services as percentage of GDP is 80.57%. Entry level access to the CEIC platform for individual users. Current situation of goods schedules— see also the current situation of goods schedules for the European Communities 4. The Hungarian economy is very open, trade representing roughly 160% of the GDP. Exports grew 4.2 percent to HUF 2973 billion whereas imports rose at a slower 1.4 percent to HUF 2733 billion, prompted by the easing in coronavirus-related restrictions. In volumes, the most important trade flows to Hungary currently include fuels from Russia, office telecom & electrical equipment from China, and industrial machinery from Germany. Hungary's main exports are machinery and transport equipment, consumer goods, agricultural products, chemicals, apparel, textiles, iron and steel, and wine. Download historical data for 20 million indicators using your browser. Hungary's major imports are machinery and equipment, other manufactures and fuels and electricity. Download limits apply. The balance of payments records transactions between residents,non-resident, natural, and legal persons. There is no data available for your selected dates. Moreover, lockdowns abroad weighed heavily on foreign demand, hitting Hungary’s export-oriented industrial sector. The trade surplus in Hungary rose to HUF 240 billion in June of 2020 from HUF 157 billion a year earlier, a preliminary estimate showed. The analysed country is : Hungary. The data reached an all-time high of 1.3 USD bn in Sep 2020 and a record low of -1.2 USD bn in Apr 2004. Hungary Trade Balance data is updated monthly, available from Jan 1976 to Oct 2020, with an averaged value of -49.1 USD mn. In the first seven months of the year, the country's trade surplus narrowed by HUF 187 billion to HUF 790 billion. Details may not equal totals due to rounding. Hungary's major imports are machinery and equipment, other manufactures and fuels and electricity. Available via annual subscription to one or more of CEIC’s global and premium databases. Hungary posted a HUF 213 billion trade deficit in April 2020, compared with a HUF 81 billion in the same month last year, a preliminary estimate showed. The Trading Economics Application Programming Interface (API) provides direct access to our data. Total Imports recorded 10.6 USD bn in Sep 2020, an increase of 10.5 % year on year. If you decline, your information won’t be tracked when you visit this website. During the last five reported years the imports of Hungary changed by $17B from $96.5B in 2013 to $113B in 2018. Explore the most complete set of 6.6 million time series covering more than 200 economies, 20 industries and 18 macroeconomic sectors. Not only the export level, but even our trade balance has improved in 2018. Hungary Balance of Trade Hungary's main exports are machinery and transport equipment, consumer goods, agricultural products, chemicals, apparel, textiles, iron and steel, and wine. All rights reserved, Unlimited access tailored to your data needs. The balance of trade. 2019 : U.S. trade in goods with Hungary . The trade surplus in Hungary widened to HUF 96 billion in July 2020 from HUF 26 billion in the corresponding month of the previous year, a preliminary estimate showed. Official company data: Copy of Register, E-Signed Copy of Register (in .es3 format), Official copy of company records, Balance sheet, profit and loss statement, company information for all the Hungary based companies in 2 minutes. Table reflects only those months for which there was trade. A kereskedelmi mérleg és a versenyképesség alakulása nem mutat változást. View a sample. Given expectations for a couple more months of trade surpluses, IDR will be supported in the near term. Hungary trade balance for 2019 was $5.92B, a 14.32% … Restrictions that were largely kept in place until May crushed household spending and fixed investment. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. See the bound tariffsat HS 6-digit sub… The trade balance and trends in competitiveness have shown no signs of a reversal. That dollar amount reflects a 23.3% gain since 2015 but a -0.3% dip from 2018 to 2019. What is trade balance of Hungary? Understanding the business environment through key figures of international trade providing info on the degree of openness to the outside: the share of imports and exports of goods and services in GDP, trade balance, current account, the main trading partners, the main products traded. Hungary's Uruguay Round goods schedules (zip format, 589KB) 5. Hungary - Trade Balance The pandemic and its associated containment measures dealt an unprecedented blow to the economy in Q2. NOTE: All figures are in millions of U.S. dollars on a nominal basis, not seasonally adjusted unless otherwise specified. 2020 : U.S. trade in goods with Austria . Hungarian Central Statistical Office provides Trade Balance in USD. Hungary trade balance, exports and imports by country 2016 In 2016, Hungary major trading partner countries for exports were Germany, Romania, Slovak Republic, Austria and France and for imports they were Germany, Austria, Poland, Slovak Republic and China. To find out more about the cookies we use, see our Cookies Policy. In Hungary, the country’s balance of payments (BoP) and the statistics on the size of and changes in the stocks of its external financial assets and liabilities (international investment position, IIP) are compiled by the Magyar Nemzeti Bank. Direct access to our calendar releases and historical data. 1976 - 2020 | Monthly | USD mn | CEIC Data. Instant download of the data related to the indicator on this page including full history in Excel format. Payable monthly by credit card. See the goods schedules gatewayfor explanations and background 3. Hungary Trade Balance data is updated monthly, available from Jan 1976 to Nov 2020, with an averaged value of -48.9 USD mn. © 2021 CEIC Data, an ISI Emerging Markets Group Company. However, the demographic decline of the country and the slow progress of the education system impede crucial structural transformation. Publish your articles and forecasts in our website. Hungary has benefited in recent years from a change in direction of FDI from low-value textile and food-processing sectors to wholesale, retail trade and repair of vehicles. Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. Get tariff data— includes explanations of bound and applied rates, the HS system and related jargon 2. Trade Balance surplus in Hungary decreased to 289000 HUF Million (0.978 B USD) in November 2020. Data published Monthly by Central Statistical Office. By 2017, Hungary will mainly import products from Germany, China and Slovakia, which together account for 39% of total imports of Hungary. The report notes that because of Hungary's preferential trade arrangements, MFN tariffs apply to less than a quarter of Hungary's imports. Instant access to full history data in excel. Purchase by credit card. However, as an effect of the global recession, the volume of trade has decreased and due to the fall in imports being quicker than the increase in exports, the trade balance became positive. Data are in current U.S. dollars. Table reflects only those months for which there was trade. Between 1990 and 1996, the share of Hungary's trade with former socialist countries (other than CEFTA partners) roughly halved. Positive trade balance … Hungary’s Membership in International Organizations Hungary and the United States belong to a number of the same international organizations, including the United Nations, NATO, Euro-Atlantic Partnership Council, OSCE, Organization for Economic Cooperation and Development, International Monetary Fund, World Bank, and World Trade Organization. Trade balance is the value of exported goods minus the value of imported goods. The maximum value was 416881 HUF Million and minimum was -246915 HUF Million. 1. Hungary Trade Balance recorded a surplus of 958.7 USD mn in Nov 2020, compared with a surplus of 1.1 USD bn in the previous month. Exports of goods rose to USD 125.8 billion in 2018 from USD 113.8 billion a year earlier. European Union is by far its largest trading partner, accounting for about 79% of exports and 76% of imports. The trade surplus in Hungary rose to HUF 147 billion in January of 2020 from HUF 121 billion a year earlier, a preliminary estimate showed. Hungary Trade Statistics. Trade balance, called also net export, is the difference between the value of country's exports and imports, over a period of time. Stability is threatened however by shifts in portfolio flows, driven by swings in investor sentiment. That was the first trade gap since August 2018 and the largest since a record high in April 2004 as exports and imports tumbled 30.1 percent and 20.4 percent, respectively, amid the coronavirus pandemic. In the first six months of the year, the country's trade surplus narrowed by HUF 311 billion to HUF 710 billion. Full and unlimited access to CEIC data for multiple users. The share of European Union Member States was 78 percent in exports and 68 percent in imports. In 2018 Hungary imported $113B, making it the number 34 trade destination in the world. 1988-2020 Data | 2021-2023 Forecast | Calendar | Historical. Hungary : Table - Balance of trade (% of GDP) The trade balance is traditionally a deficit. Hungary’s existing goods schedules will be revised in due course as a result of its entry into the European Union. Instant access to full history data in excel. Regarding the trade activity of Hungary, the trade of services reached a greater proportion in the past two decades and managed to achieve a positive balance in the past years. The first in the row is Asia. Details may not equal totals due to rounding. The difference between the monetary value of exports and imports of output in an economy over a certain period. (economics) The balance of trade. Hungary's trade balance, which was traditionally in deficit, started posting surpluses more recently owing in particular to the good health of the German economy. All electronic documents are online and immediately downloadable after the successful payment. Hungary's major imports are machinery and equipment, other manufactures and fuels and electricity. Exports rose 1.6 percent to HUF 2976 billion while imports dropped 0.7 percent to HUF 2880 billion, amid the coronavirus crisis. Suitable for enterprise usage. Hungary Balance of Trade Hungary's main exports are machinery and transport equipment, consumer goods, agricultural products, chemicals, apparel, textiles, iron and steel, and wine. We use this information in order to improve and customize your browsing experience and for analytics and metrics about our visitors both on this website and other media. The lowest data : 1993 is the lowest year for the indicator : Balance of trade (% of GDP). This website stores cookies on your computer. Lithuania's trade balance swung to a surplus in October, figures from the statistical office showed on Thursday.Trade balance registered a surplus of EUR 51.8 million in October versus a deficit of EUR 74.1 million in the same month last year. The share of European Union Member States was 81 percent in exports and 73 percent in imports. (RTTNews) - Hungary's trade balance swung to deficit for the first time in nearly two years in April, final data from the Hungarian Central Statistical Office showed on Thursday. These cookies are used to collect information about how you interact with our website and allow us to remember you. A Central European nation sharing land borders with Slovakia, Ukraine, Austria, Romania, Serbia, Croatia and Slovenia, Hungary shipped US$123.6 billion worth of goods around the globe in 2019. Hungary's major imports are machinery and equipment, other manufactures and fuels and electricity. Foreign Trade in Figures. In September, the trade A positive trade balance signifies a trade surplus, while a negative value signifies a trade deficit. Hungary's consumer price inflation eased to the lowest level in more than two years in May, data from the Hungarian Central Statistical Office showed on Tuesday. About Hungary Foreign Trade Balance EUR The international trade balance measures the difference between the movement of merchandise trade leaving a country (exports) and entering a … Includes Trade Balance on 116 economies standardised by CEIC. The share of European Union Member States was 77 percent in exports and 71 percent in imports. Indonesia trade balance. Hungary Trade Balance recorded a surplus of 1.1 USD bn in Oct 2020, compared with a surplus of 1.3 USD bn in the previous month. A single cookie will be used in your browser to remember your preference not to be tracked. Exports surged 7.1 percent to HUF 3080 billion while imports advanced at a slower 6.4 percent to HUF 2933 billion. Includes 442 key indicators for Hungary, curated by CEIC analysts. It the number 34 trade destination in the hungary trade balance amid the coronavirus crisis total recorded... Be tracked hungary changed by $ 17B from $ 96.5B in 2013 $. Balance surplus in hungary decreased to 289000 HUF Million first seven months of the year, the trade the... The same period last year a versenyképesség alakulása nem mutat változást 2021 CEIC data, an ISI Markets. Data reached an all-time high of 1.3 USD bn in Sep 2020, an ISI Emerging Markets Group Company data! Minus the value of imported goods IDR will be supported in the world exported goods minus value... 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