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2023
Flag → Flag
Exports $3.07MRnk 102 / 174
2023
Flag → Flag
Top Product $2.42MCut Flowers
2023
Flag → Flag
Exports $39.9MRnk 82 / 201
2023
Flag → Flag
Top Product $18.4MCars
2023
Flag
Economic Complexity (ECI) ECI -0.85Rnk 104 / 132
2023
Flag
Economic Complexity (ECI) ECI 1.41Rnk 14 / 132
2023
Flag  
GDP$119BCURRENT US$
Rnk 63 / 195
2013-2023
Flag
GDP GROWTH23.1%CURRENT US$
Rnk 131 / 195
2023
Flag
 GDP$212BCURRENT US$
Rnk 56 / 195
2013-2023
Flag
GDP GROWTH56.5%CURRENT US$
Rnk 60 / 195
2023
Flag
GDP PC $6,610CURRENT US$
Rnk 109 / 195
2013-2023
Flag
GDP PC GROWTH8.19%CURRENT US$
Rnk 141 / 195
2023
Flag
GDP PC$22,142CURRENT US$
Rnk 58 / 196
2013-2023
Flag
GDP PC GROWTH61.4%CURRENT US$
Rnk 29 / 195

About

Ecuador-Hungary Trade: In 2023, Ecuador exported $3.07M to Hungary. The main products that Ecuador exported to Hungary were Cut Flowers ($2.42M), Processed Fish ($358k), and Other Lead Products ($64.9k). Over the past 5 years the exports of Ecuador to Hungary have increased at an annualized rate of 20.5%, from $1.21M in 2018 to $3.07M in 2023.

In 2023, Ecuador did not export any services to Hungary.

Hungary-Ecuador Trade: In 2023, Hungary exported $39.9M to Ecuador. The main products that Hungary exported to Ecuador were Cars ($18.4M), Pesticides ($4.86M), and Vaccines, blood, antisera, toxins and cultures ($2.27M). Over the past 5 years the exports of Hungary to Ecuador have decreased at an annualized rate of 3.59%,  from $47.8M in 2018 to $39.9M in 2023.

In 2023, Hungary did not export any services to Ecuador.

Comparison: In 2023,  Ecuador ranked 104 in the Economic Complexity Index (ECI -0.85), and 65 in total exports ($37.3B). That same year, Hungary ranked 14 in the Economic Complexity Index (ECI 1.41), and 35 in total exports ($150B).

Latest Trends

December, 2021

About

Overview In December 2021, Ecuador exported $809k and imported $2.64M from Hungary, resulting in a negative trade balance of $1.83M. Between December 2020 and December 2021 the exports of Ecuador have increased by $787k (3.59k%) from $21.9k to $809k, while imports increased by $152k (6.09%) from $2.49M to $2.64M.

Trade In December 2021, the top exports of Ecuador to Hungary were Cut Flowers ($171k). In December 2021 the top imports of Ecuador from Hungary were Computers ($929k), Cars ($797k), Lifting Machinery ($158k), Special Pharmaceuticals ($96.3k), and Light Fixtures ($42.6k).

Origins In December 2021 the exports of Ecuador were mainly from Quito ($809k), while imports destinations were mainly Guayaquil-Marítimo ($1.44M), Quito ($992k), Puerto Bolívar ($80.3k), Tulcán ($70.1k), and Guayaquil-Aéreo ($55.7k).

Growth In December 2021, the increase in Ecuador's year-by-year exports to Hungary was explained primarily by an increase in product exports in . In December 2021, the increase in Ecuador's year-by-year imports  from Hungary was explained primarily by an increase in product imports  in Computers ($878k or 1.72k%), Light Fixtures ($30.6k or 254%), and Air Pumps ($19.7k or 1.45k%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (December 2020 - December 2021)$787k(3.59k%)
IMPORT GROWTH (December 2020 - December 2021)$152k(6.09%)
MAIN EXPORTER (December 2021)Quito$809k

This section shows exports and imports data at subnational level for Ecuador. Click any date in the line plot, any subnational region in the geomap or any product to explore the exports or imports behavior of Ecuador over time.

To check Hungary and Ecuador trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Hungary and Ecuador Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Ecuador exported $3.07M to Hungary. The main products exported from Ecuador to Hungary were Cut Flowers ($2.42M), Processed Fish ($358k), and Other Lead Products ($64.9k). During the last 5 years the exports of Ecuador to Hungary have increased at an annualized rate of 20.5%, from $1.21M in 2018 to $3.07M in 2023.

In 2018, Hungary exported $39.9M to Ecuador. The main products exported from Hungary to Ecuador were Cars ($18.4M), Pesticides ($4.86M), and Vaccines, blood, antisera, toxins and cultures ($2.27M). During the last 5 years the exports of Hungary to Ecuador have decreased at an annualized rate of 3.59%, from $47.8M in 2023 to $39.9M in 2018.

Exports from Ecuador (Flag) to Hungary (Flag) (2023)

Exports from Hungary (Flag) to Ecuador (Flag) (2023)

Market Competitiveness

Color
Ecuador
Top DestinationUnited States$8.34B
Hungary
Top DestinationGermany$37.4B

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

In 2023, countries that imported more from Ecuador than Hungary included China ($7.96B), Panama ($4.38B), and Peru ($1.15B).

In 2023, countries that imported more from Hungary than Ecuador included Germany ($37.4B), Romania ($8.43B), and Italy ($9.08B).

Difference in imports from Hungary (Flag) and Ecuador (Flag) (2023)

Comparative Advantage Ecuador - Hungary

Flow
Scale

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

During 2023, Ecuador had a large net trade with Hungary in the exports of Vegetable Products ($2.43M), Foodstuffs ($447k), and Metals ($64.9k).

During 2018, Hungary had a large net trade with Ecuador in the exports of Transportation ($19.2M), Chemical Products ($11M), and Instruments ($2.59M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Ecuador Hungary+$614kProcessed Fish
Top Product Potential Hungary Ecuador+$12.4MCars

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of Ecuador and Hungary. This means that a dot/product with the flag of Ecuador indicates it has a comparative advantage over Hungary. Similarly, a dot/product with the flag of Hungary indicates it has a comparative advantage over Ecuador.

Product Space of Ecuador (Flag) and Hungary (Flag) (2023)

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