FOREIGN TRADE – Eastern damages

According to preliminary figures, during the first three quarters of the year the value of exports (measured in USD) rose 6,6 percent with imports growing by 7,5 percent. During the third quarter the export-import gap almost closed. September exports were close to 2,2 billion USD, the second highest figure this year. Within exports the relative [...]

According to preliminary figures, during the first three quarters of the year the value of exports (measured in USD) rose 6,6 percent with imports growing by 7,5 percent. During the third quarter the export-import gap almost closed. September exports were close to 2,2 billion USD, the second highest figure this year. Within exports the relative share of agricultural products continued to dwindle, while the share of industrial goods rose to 91 percent.

In the first nine months of the year the combined external sales of industrial free zones and contract production was more than 20 percent higher than a year before. The import-dependence of exports is still significant. Imports directly serving exports went up by almost 22 percent. Gross foreign trade deficit until the end of September is 2284 million USD, while the net deficit is 1838 million USD – 77 million USD higher the previous year.

The share of developed nations within foreign trade rose to 84 percent, exports directed toward these countries was 12,4 percent higher than during the same period of the previous year. The most important partner is Germany which bought 38 percent of exported goods and where 30 percent of the imports also came from. The 21 percent decrease of Central and Eastern European exports in the first three quarters is an unwelcome trend. Its main reason is the 57 percent decline of Russian exports.

Machines and machine goods are still the most significant products stimulating export and import growth; their share in exports is 56,4 percent with an 18,4 percent volume increase. Half of all imports is from this product category – with a growth of 18 percent. Almost one fourht of the industrial production is generated by free zone companies, 96 percent of which operates in the machine industry. The production of these companies went up by 48,8 percent, while their exports grew by 50,1 percent. –

SZÁRAZ ANIKÓ, a BorsodChem Rt. TVC kereskedelmi iroda vezetője: “Az export további növekedésére számítunk, mivel az uniós országokban elindult konjunkturális folyamat az értékesítési mennyiség emelkedését vonja maga után ezen a cégünk számára hagyományos piacon. Hasonló tendenciát tapasztalunk az ázsiai országokban is, ahol a gazdasági válságból való kilábalás egyértelmű jelei mutatkoznak. A környező országok közül a volt jugoszláviai tagköztársaságokba irányuló exportunk élénkül meg a leginkább. Tekintettel arra, hogy az egy főre jutó műanyag-felhasználás a szomszédos államokban alacsonyabb a nyugat-európai átlagnál, itt még további piacbővítésre számítunk.”