Hungary’s exports reached an all-time high of €16.2 billion in September, helping the country record a €907 million trade surplus as export and import volumes both increased year on year. However, the latest figures also reveal contrasting trends in trade with the European Union and countries outside the bloc.

According to data published by the Hungarian Central Statistical Office (KSH) on Thursday, the value of exports rose by 21% in euro terms compared with September 2025, while imports increased by 20%. The trade surplus improved by €266 million year on year.

Record-breaking exports, stronger imports

Hungary exported goods worth HUF 5,932 billion (€16.2 billion) in September, while imports totalled HUF 5,601 billion (€15.3 billion).

Compared with the same month last year, export volumes increased by 4.6%, while import volumes grew by 5.4%. After seasonal and working-day adjustments, export volumes were 1.1% higher than in August, while imports fell by 1%.

The figures suggest that Hungary’s external trade gained momentum following a weaker August, although imports continued to grow faster than exports in volume terms.

The terms of trade also improved by 1.7% year on year, meaning Hungary’s export prices moved more favourably relative to its import prices. Meanwhile, the forint strengthened by 6.8% against the euro and 5% against the US dollar compared with September 2025.

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Machinery drives trade growth, while energy exports fall

Machinery and transport equipment played a major role in the September figures. Export volumes in this category increased by 9.9%, while imports surged by 18%.

Processed products showed a more mixed picture: export volumes rose by 0.8%, but imports fell by 7.2%. This decline helped limit the overall increase in Hungary’s imports.

Energy trade also moved in the opposite direction. Export volumes of energy products plunged by 28% compared with a year earlier, while imports declined by 7.9%.

Food, drinks and tobacco performed relatively steadily, with export volumes edging up by 0.3% and imports falling by 1.8%.

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EU trade delivers a surplus, but non-EU trade remains in deficit

Trade with EU member states provided a significant boost to Hungary’s overall balance. Export volumes to the bloc increased by 5.1%, while import volumes from EU countries decreased by 1.1%.

As a result, Hungary’s trade surplus with EU partners reached €2.2 billion in September, an improvement of €1.2 billion compared with the same month in 2025. EU member states accounted for 73% of Hungary’s exports and 63% of its imports.

Trade with countries outside the EU told a different story. Both export and import volumes increased by 23%, but the balance deteriorated by €946 million, leaving Hungary with a €1.3 billion deficit in trade with non-EU partners.

What do the figures show for 2026 so far?

Between January and September, Hungary’s exports were worth €124.8 billion, while imports reached €118.6 billion. The country therefore recorded a trade surplus of €6.2 billion over the first nine months of the year.

Export volumes increased by 1.3% compared with the same period in 2025, while import volumes grew by a much stronger 8%. The trade surplus consequently narrowed by €1.4 billion year on year.

September’s record export value is an encouraging sign for Hungary’s external trade. However, the faster growth in imports over the first nine months and the persistent deficit with non-EU trading partners show that the broader picture remains mixed.