Hungary: Food exports increased and imports decreased in June

Published Sep 15, 2024

Tridge summary

In June, the balance of Hungary's food, beverages and tobacco exports and imports was HUF 79.1 billion, the lowest this year. Despite a 8.2% increase in exports, the total export value decreased by 9.9% to 12.3 billion euros in June 2024, compared to the previous year. This was largely due to a 1.4% decrease in export volume and a 6.4% weakening of the forint against the euro. The balance worsened by 411 million euros, with a surplus of 28 million euros, and the price level of foreign trade product turnover increased by 4.3% in exports and 3.5% in imports.

Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

In June, imports in the main product group of food, beverages and tobacco amounted to HUF 276.9 billion, while exports amounted to HUF 356 billion at current prices. The balance was HUF 79.1 billion, according to the Central Statistical Office's (KSH) foreign trade product circulation quick information. The latter figure is the lowest this year, the balance was HUF 101.7 billion in February, HUF 100.5 billion in March, HUF 99.47 billion in April, and HUF 94.6 billion in May. The volume of exports of food, beverages and tobacco increased by 8.2%, while the volume of imports decreased by 4.0%. The volume increase in exports was influenced by grain and grain products, while the decrease in imports was influenced by the turnover of vegetables and fruit. The change in volume realized by the main product group slowed down the decrease in total export turnover by 0.5 percentage points, and increased imports by 0.2 percentage points. In June 2024, the total value of exports was 12.3 ...

Source: AgroForum