United Kingdom (GBR) and Hungary (HUN) Trade

2022

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Exports $1.48BRnk 42 / 224

2022

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About

United Kingdom-Hungary Trade: In 2022, United Kingdom exported $1.48B to Hungary. The main products that United Kingdom exported to Hungary were Gas Turbines ($153M), Cars ($150M), and Broadcasting Equipment ($69.9M). Over the past 5 years the exports of United Kingdom to Hungary have decreased at an annualized rate of 5.37%, from $1.95B in 2017 to $1.48B in 2022.

In 2019, United Kingdom exported services to Hungary worth $816M, with Travel ($314M), Other business services ($163M), and Transportation ($129M) being the largest in terms of value.

Hungary-United Kingdom Trade: In 2022, Hungary exported $5.03B to United Kingdom. The main products that Hungary exported to United Kingdom were Cars ($1.13B), Motor vehicles; parts and accessories (8701 to 8705) ($383M), and Video Displays ($297M). Over the past 5 years the exports of Hungary to United Kingdom have increased at an annualized rate of 4.97%, from $3.95B in 2017 to $5.03B in 2022.

In 2020, Hungary exported services to United Kingdom worth $1.61B, with Other business services ($850M), Transportation ($280M), and Computer and information services ($278M) being the largest in terms of value.

Comparison: In 2022, United Kingdom ranked 12 in the Economic Complexity Index (ECI 1.42), and 14 in total exports ($469B). That same year, Hungary ranked 14 in the Economic Complexity Index (ECI 1.38), and 35 in total exports ($145B).

Latest Trends

September, 2024

About

Overview In September 2024, United Kingdom exported £145M and imported £269M from Hungary, resulting in a negative trade balance of £123M. Between September 2023 and September 2024 the exports of United Kingdom have increased by £44.5M (44.1%) from £101M to £145M, while imports decreased by £-20.6M (-7.14%) from £289M to £269M.

Trade In September 2024, the top exports of United Kingdom to Hungary were Nucleic Acids (£9.53M), Gas Turbines (£9.33M), Cars (£6.53M), Telephones (£6.19M), and Motor vehicles; parts and accessories (8701... (£3.09M). In September 2024 the top imports of United Kingdom from Hungary were Computers (£24.9M), Cars (£21.9M), Motor vehicles; parts and accessories (8701... (£20.7M), Electric Batteries (£14.9M), and Video Displays (£14M).

Origins In September 2024 the exports of United Kingdom were mainly from Dover Eurotunnel (£53.7M), Tyne (£52.7M), Immingham (£8.43M), Dover (£5.67M), and East Midlands Airport (£4.43M), while imports destinations were mainly Dover (£124M), Eurotunnel (£26.1M), Dover Eurotunnel (£16.2M), Dollands Moor (£10.3M), and Harwich (£10.1M).

Growth In September 2024, the increase in United Kingdom's year-by-year exports to Hungary was explained primarily by an increase in product exports in Nucleic Acids (£4.92M or 107%), Gas Turbines (£2.95M or 46.2%), and Telephones (£2.49M or 67.2%). In September 2024, the decrease in United Kingdom's year-by-year imports from Hungary was explained primarily by an decrease in product imports in Video Displays (£-5.23M or -27.2%), Motor-working Tools (£-4.63M or -87.8%), and Vaccines, blood, antisera, toxins and cultures (£-1.43M or -39%).

Latest Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Value

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

EXPORT GROWTH (September 2023 - September 2024)£44.5M(44.1%)

IMPORT GROWTH (September 2023 - September 2024)£-20.6M(-7.14%)

MAIN EXPORTER (September 2024)Dover Eurotunnel£53.7M

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

To check Hungary and United Kingdom trade dynamics, check the bilateral page.

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Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, United Kingdom exported $1.48B to Hungary. The main products exported from United Kingdom to Hungary were Gas Turbines ($153M), Cars ($150M), and Broadcasting Equipment ($69.9M). During the last 5 years the exports of United Kingdom to Hungary have decreased at an annualized rate of 5.37%, from $1.95B in 2017 to $1.48B in 2022.

In 2017, Hungary exported $5.03B to United Kingdom. The main products exported from Hungary to United Kingdom were Cars ($1.13B), Motor vehicles; parts and accessories (8701 to 8705) ($383M), and Video Displays ($297M). During the last 5 years the exports of Hungary to United Kingdom have increased at an annualized rate of 4.97%, from $3.95B in 2022 to $5.03B in 2017.

Exports from United Kingdom () to Hungary () (2022)

Exports from Hungary () to United Kingdom () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

United Kingdom
Top DestinationUnited States$61.8B

Hungary
Top DestinationGermany$35.5B

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

In 2022, countries that imported more from United Kingdom than Hungary included United States ($61.8B), Netherlands ($41.9B), and China ($35.4B).

In 2022, countries that imported more from Hungary than United Kingdom included Romania ($7.94B), Slovakia ($6.78B), and Serbia ($3.42B).

Difference in imports from Hungary () and United Kingdom () (2022)

Comparative Advantage United Kingdom - Hungary

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, United Kingdom had a large net trade with Hungary in the exports of Machines ($515M), Chemical Products ($270M), and Transportation ($238M).

During 2017, Hungary had a large net trade with United Kingdom in the exports of Machines ($1.71B), Transportation ($1.59B), and Plastics and Rubbers ($375M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential United Kingdom Hungary+$86.7MCars

Top Product Potential Hungary United Kingdom+$316MCars

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

Hun Year

Gbr Year

In 2019, United Kingdom exported services to Hungary worth $816M, with Travel ($314M), Other business services ($163M), and Transportation ($129M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from United Kingdom () to Hungary () (2019)

Services Exports from Hungary () to United Kingdom () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Year

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

Product Space of United Kingdom () and Hungary () (2022)

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