2022
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GDP
$28.4BCURRENT US$
Rnk 105 / 186
2012-2022
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GDP GROWTH
13.5%CURRENT US$
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2022
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 GDP
$179BCURRENT US$
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2012-2022
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GDP GROWTH
38.8%CURRENT US$
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2022
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GDP PC 
$31,284CURRENT US$
Rnk 36 / 186
2012-2022
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GDP PC GROWTH
7.9%CURRENT US$
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2022
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GDP PC
$18,463CURRENT US$
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2012-2022
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GDP PC GROWTH
42.2%CURRENT US$
Rnk 44 / 186

About

Cyprus-Hungary In 2022, Cyprus exported $18.6M to Hungary. The main products that Cyprus exported to Hungary are Packaged Medicaments ($3.74M), Acyclic Hydrocarbons ($3.25M), and Perfumes ($1.2M). During the last 27 years the exports of Cyprus to Hungary have increased at an annualized rate of 4.39%, from $5.82M in 1995 to $18.6M in 2022.

In 2020, Cyprus exported services to Hungary worth $6.85M, with Transportation ($3.43M), Travel ($1.14M), and Financial services ($1.14M) being the largest in terms of value.

Hungary-Cyprus In 2022, Hungary exported $51.4M to Cyprus. The main products that Hungary exported to Cyprus were Cars ($7.24M), Flavored Water ($6.32M), and Telephones ($3.46M). During the last 27 years the exports of Hungary to Cyprus have increased at an annualized rate of 5.96%, from $10.8M in 1995 to $51.4M in 2022.

In 2020, Hungary exported services to Cyprus worth $65.9M, with Royalties and license fees ($22.3M), Other business services ($16.4M), and Computer and information services ($15.9M) being the largest in terms of value.

Comparison In 2022,  Cyprus ranked 125 in total exports ($4.91B), and does not have data regarding Economic Complexity Index. That same year, Hungary ranked 14 in the Economic Complexity Index (ECI 1.38), and 35 in total exports ($145B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Cyprus exported $18.6M to Hungary. The main products exported from Cyprus to Hungary were Packaged Medicaments ($3.74M), Acyclic Hydrocarbons ($3.25M), and Perfumes ($1.2M). During the last 27 years the exports of Cyprus to Hungary have increased at an annualized rate of 4.39%, from $5.82M in 1995 to $18.6M in 2022.

In 2022, Hungary exported $51.4M to Cyprus. The main products exported from Hungary to Cyprus were Cars ($7.24M), Flavored Water ($6.32M), and Telephones ($3.46M). During the last 27 years the exports of Hungary to Cyprus have increased at an annualized rate of 5.96%, from $10.8M in 1995 to $51.4M in 2022.

Exports from Cyprus (Flag) to Hungary (Flag) (2022)

Exports from Hungary (Flag) to Cyprus (Flag) (2022)

Latest Data

Trade between Cyprus (Flag) and Hungary (Flag)

Cyprus Exports

Hungary Exports

Market Competitiveness

Color
Cyprus
Top Destination
Hong Kong$482M
Hungary
Top Destination
Germany$35.5B

This map shows whether countries import more from Cyprus or Hungary. Each country is colored based on the difference in imports they receive from Cyprus and Hungary or the difference in the growth in imports.

In 2021, countries that imported more from Cyprus than Hungary were Lebanon ($329M), Liberia ($255M), and Marshall Islands ($173M).

In 2021, countries that imported more from Hungary than Cyprus were Germany ($35.5B), Italy ($8.02B), and Romania ($7.94B).

Difference in imports from Hungary (Flag) and Cyprus (Flag) (2022)

Comparative Advantage Cyprus - Hungary

Flow
Scale

This chart compares trade between Cyprus and Hungary by product, considering products traded by both, Cyprus and Hungary.

During 2022, Cyprus had a large net trade with Hungary in the exports of Chemical Products ($9.36M), Instruments ($1.89M), and Machines ($1.78M).

During 2022, Hungary had a large net trade with Cyprus in the exports of Foodstuffs ($13M), Machines ($10.4M), and Transportation ($8.52M).

Service Trade

Bilateral Service Trade

In 2020, Cyprus exported services to Hungary worth $6.85M, with Transportation ($3.43M), Travel ($1.14M), and Financial services ($1.14M) being the largest in terms of value.

In 2020, Hungary exported services to Cyprus worth $65.9M, with Royalties and license fees ($22.3M), Other business services ($16.4M), and Computer and information services ($15.9M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Cyprus (Flag) to Hungary (Flag) (2020)

Services Exports from Hungary (Flag) to Cyprus (Flag) (2020)

Economic Complexity

Competitive Landscape

This visualization show the product space at the HS4 level colored from blue to yellow.  This mean that the more blue a dot/product is, the more Cyprus has comparative advantage over Hungary. Similarly, the more yellow a dot/product is, the more Hungary has comparative advantage over Cyprus.

Product Space of Cyprus (Flag) and Hungary (Flag) (2022)

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