Hungary Trade Surplus Narrows Sharply in July

Hungary’s trade surplus narrowed sharply to EUR 69 million in July 2026 from EUR 503 million in the corresponding month a year ago, and well below market expectations of a EUR 1,305 million surplus. This marked the smallest surplus since a deficit in July 2024, as exports rose less than imports. Exports grew 10.8% year-on-year to EUR 13,661 million in July, driven by increased shipments of machinery and transport equipment, though partly offset by weaker exports of manufactured goods and fuels and electric energy. Meanwhile, imports climbed 14.9% to EUR 13,592 million, supported by higher purchases of machinery and transport equipment, though curbed by a decrease in manufactured goods. For the first seven months of the year, the country’s trade surplus fell to EUR 4,981 million from EUR 6,361 million in the same period last year.

Hungary’s trade balance posted a surplus of EUR 1,305.4 million in June 2026, widening sharply from EUR 786.8 million in the corresponding month of the previous year, as export growth outpaced imports. Exports jumped 21% year-on-year to EUR 14,944.5 million, driven largely by higher sales of machinery and transport equipment and food, beverages, and tobacco, which more than offset the declines in energy carriers. By trade partners, exports both increased in the EU (+6.8%) and non-EU countries (+11%). Meanwhile, imports advanced by 18% to EUR 13,639.0 million, lifted by increased purchases of processed products and machinery and transport equipment. Imports recorded an increase in EU (+3.4%) and non-EU countries (+12%). For the first half of 2026, the trade surplus narrowed to EUR 5,044.6 million from EUR 5,749.3 million a year earlier, as exports rose by 8.3%, while imports grew at a faster 10%.

Hungary’s trade balance posted a surplus of EUR 502 million in May 2026, widening from EUR 342 million in the corresponding month of the previous year, as exports rose more than imports. Exports grew by 7.4% year-on-year to EUR 13,228 million, driven largely by higher sales of raw materials and machinery and transport equipment, which was partially offset by declines in energy carriers. Meanwhile, imports rose at a softer 6.3% to EUR 12,727, supported by stronger purchases for energy carriers and machinery and transport equipment, though partly offset by weaker imports of food, beverages and tobacco. In the first five months of 2026, the trade surplus narrowed to EUR 3.44 billion from EUR 4.96 billion a year earlier, as exports rose 5.3% while imports increased at a faster 8.4%.