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2022
Flag → Flag
Exports $2.17BRnk 30 / 218
2022
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Top Product $294MCars
2022
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Exports $3.94BRnk 12 / 205
2022
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Top Product $675MSpark-Ignition Engines
2022
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Economic Complexity (ECI) ECI 0.81Rnk 33 / 133
2022
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Economic Complexity (ECI) ECI 1.38Rnk 14 / 133
2022
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GDP$1.4TCURRENT US$
Rnk 15 / 186
2012-2022
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GDP GROWTH5.49%CURRENT US$
Rnk 154 / 186
2022
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 GDP$179BCURRENT US$
Rnk 57 / 186
2012-2022
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GDP GROWTH38.8%CURRENT US$
Rnk 86 / 186
2022
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GDP PC $29,350CURRENT US$
Rnk 40 / 186
2012-2022
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GDP PC GROWTH3.63%CURRENT US$
Rnk 132 / 186
2022
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GDP PC$18,463CURRENT US$
Rnk 55 / 186
2012-2022
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GDP PC GROWTH42.2%CURRENT US$
Rnk 44 / 186

About

Spain-Hungary Trade: In 2022, Spain exported $2.17B to Hungary. The main products that Spain exported to Hungary were Cars ($294M), Motor vehicles; parts and accessories (8701 to 8705) ($126M), and Pig Meat ($101M). Over the past 5 years the exports of Spain to Hungary have increased at an annualized rate of 2.95%, from $1.88B in 2017 to $2.17B in 2022.

In 2009, Spain exported services to Hungary worth $114M, with Services not allocated ($114M) being the largest in terms of value.

Hungary-Spain Trade: In 2022, Hungary exported $3.94B to Spain. The main products that Hungary exported to Spain were Spark-Ignition Engines ($675M), Cars ($454M), and Motor vehicles; parts and accessories (8701 to 8705) ($321M). Over the past 5 years the exports of Hungary to Spain have increased at an annualized rate of 2.3%,  from $3.28B in 2017 to $3.94B in 2022.

In 2020, Hungary exported services to Spain worth $266M, with Transportation ($72.1M), Royalties and license fees ($66.7M), and Other business services ($44.8M) being the largest in terms of value.

Comparison: In 2022,  Spain ranked 33 in the Economic Complexity Index (ECI 0.81), and 20 in total exports ($394B). That same year, Hungary ranked 14 in the Economic Complexity Index (ECI 1.38), and 35 in total exports ($145B).

Latest Trends

August, 2024

About

Overview In August 2024, Spain exported €135M and imported €199M from Hungary, resulting in a negative trade balance of €64.2M. Between August 2023 and August 2024 the exports of Spain have decreased by €-4.84M (-3.47%) from €139M to €135M, while imports increased by €1.14M (0.58%) from €198M to €199M.

Trade In August 2024, the top exports of Spain to Hungary were Cars (€16.8M), Motor vehicles; parts and accessories (8701... (€13.6M), Pig Meat (€10.5M), Pesticides (€4.08M), and Other Measuring Instruments (€3.89M). In August 2024 the top imports of Spain from Hungary were Cars (€40.9M), Video Displays (€36.9M), Motor vehicles; parts and accessories (8701... (€29.3M), Spark-Ignition Engines (€22.1M), and Electric Batteries (€20.5M).

Origins In August 2024 the exports of Spain were mainly from Barcelona (€33.8M), Girona (€10.4M), A Coruña (€7.83M), Madrid (€7.5M), and Guipúzcoa (€6.98M), while imports destinations were mainly Barcelona (€84.9M), Madrid (€36.4M), Valencia (€14.8M), Zaragoza (€11.3M), and Álava (€10.8M).

Growth In August 2024, the decrease in Spain's year-by-year exports to Hungary was explained primarily by an decrease in product exports in Electrical Ignitions (€-2.72M or -97.1%), Styrene Polymers (€-2.26M or -71.1%), and Packaged Medicaments (€-1.9M or -34.4%). In August 2024, the increase in Spain's year-by-year imports  from Hungary was explained primarily by an increase in product imports  in Video Displays (€10.1M or 37.6%), Pesticides (€8.17M or 132%), and Motor vehicles; parts and accessories (8701... (€3.57M or 13.9%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (August 2023 - August 2024)€-4.84M(-3.47%)
IMPORT GROWTH (August 2023 - August 2024)€1.14M(0.58%)
MAIN EXPORTER (August 2024)Barcelona€33.8M

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

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

For full datasets download visit Bulk Download page.

Explore Hungary and Spain Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Spain exported $2.17B to Hungary. The main products exported from Spain to Hungary were Cars ($294M), Motor vehicles; parts and accessories (8701 to 8705) ($126M), and Pig Meat ($101M). During the last 5 years the exports of Spain to Hungary have increased at an annualized rate of 2.95%, from $1.88B in 2017 to $2.17B in 2022.

In 2017, Hungary exported $3.94B to Spain. The main products exported from Hungary to Spain were Spark-Ignition Engines ($675M), Cars ($454M), and Motor vehicles; parts and accessories (8701 to 8705) ($321M). During the last 5 years the exports of Hungary to Spain have increased at an annualized rate of 2.3%, from $3.28B in 2022 to $3.94B in 2017.

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

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

Market Competitiveness

Color
Spain
Top DestinationFrance$65.2B
Hungary
Top DestinationGermany$35.5B

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

In 2022, countries that imported more from Spain than Hungary included France ($65.2B), Portugal ($34.9B), and Italy ($32.1B).

In 2022, countries that imported more from Hungary than Spain included Slovakia ($6.78B), Romania ($7.94B), and Austria ($6.32B).

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

Comparative Advantage Spain - Hungary

Flow
Scale

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

During 2022, Spain had a large net trade with Hungary in the exports of Transportation ($567M), Machines ($396M), and Chemical Products ($213M).

During 2017, Hungary had a large net trade with Spain in the exports of Machines ($2.01B), Transportation ($789M), and Chemical Products ($374M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Spain Hungary+$91.6MCars
Top Product Potential Hungary Spain+$185MCars

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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Bilateral Service Trade

In 2009, Spain exported services to Hungary worth $114M, with Services not allocated ($114M) being the largest in terms of value.

In 2020, Hungary exported services to Spain worth $266M, with Transportation ($72.1M), Royalties and license fees ($66.7M), and Other business services ($44.8M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Spain (Flag) to Hungary (Flag) (2009)

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

Service Trade

Economic Complexity

Competitive Landscape

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

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

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