Imported honey is pouring into Hungary; here is the ugly truth

Published 2024년 8월 1일

Tridge summary

The article provides an overview of Hungary's trade performance in May and the first five months of the year, indicating a decrease in both export and import volumes and values compared to the previous year. Despite the overall decline, certain product categories such as energy carriers, food, beverages, and tobacco experienced increases. The forint's exchange rate also changed, showing a weakness against major currencies. The first five months saw a slight improvement in the product foreign trade balance, with a surplus of 6.6 billion euros.

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

Original content

The volume of exports was 5.8 percent, and that of imports was 5.0 percent less than in the same period of the previous year. The value of exports was 11.9 billion euros (4,625 billion forints), and that of imports was 10.9 billion euros (4,237 billion forints). Expressed in euros, the value of exports in May decreased by 8.6 percent, and that of imports by 7.7 percent. Adjusted for the calendar effect, the volume of exports decreased by 6.0 percent and that of imports by 5.3 percent. The price level of foreign trade product turnover measured in forints increased by 0.9 percent in exports and 1.1 percent in imports compared to the same month of the previous year. The exchange ratio worsened by 0.2 percent. The exchange rate of the forint weakened by 4.0 percent against the euro, and by 4.6 percent against the dollar, the KSH added. The export volume of machinery and transport equipment decreased by 14 percent and the import volume by 7.7 percent. The volume of the product group of ...

Source: Agronaplo