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2022
Flag → Flag
Exports $1.75BRnk 20 / 205
2022
Flag → Flag
Top Product $180MPackaged Medicaments
2022
Flag → Flag
Exports $825MRnk 19 / 206
2022
Flag → Flag
Top Product $137MIndustrial Fatty Acids, Oils and Alcohols
2022
Flag
Economic Complexity (ECI) ECI 1.38Rnk 14 / 133
2022
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Economic Complexity (ECI) ECI 0.68Rnk 38 / 133
2022
Flag  
GDP$179BCURRENT US$
Rnk 57 / 186
2012-2022
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GDP GROWTH38.8%CURRENT US$
Rnk 86 / 186
2022
Flag
 GDP$89BCURRENT US$
Rnk 70 / 186
2012-2022
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GDP GROWTH64%CURRENT US$
Rnk 37 / 186
2022
Flag
GDP PC $18,463CURRENT US$
Rnk 55 / 186
2012-2022
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GDP PC GROWTH42.2%CURRENT US$
Rnk 44 / 186
2022
Flag
GDP PC$13,772CURRENT US$
Rnk 64 / 186
2012-2022
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GDP PC GROWTH85.3%CURRENT US$
Rnk 13 / 186

About

Hungary-Bulgaria Trade: In 2022, Hungary exported $1.75B to Bulgaria. The main products that Hungary exported to Bulgaria were Packaged Medicaments ($180M), Cars ($136M), and Electric Batteries ($105M). Over the past 5 years the exports of Hungary to Bulgaria have increased at an annualized rate of 7.71%, from $1.2B in 2017 to $1.75B in 2022.

In 2020, Hungary exported services to Bulgaria worth $192M, with Transportation ($112M), Travel ($53M), and Other business services ($11.1M) being the largest in terms of value.

Bulgaria-Hungary Trade: In 2022, Bulgaria exported $825M to Hungary. The main products that Bulgaria exported to Hungary were Industrial Fatty Acids, Oils and Alcohols ($137M), Refined Petroleum ($85.6M), and Other Small Iron Pipes ($43M). Over the past 5 years the exports of Bulgaria to Hungary have increased at an annualized rate of 8.19%,  from $514M in 2017 to $825M in 2022.

In 2020, Bulgaria exported services to Hungary worth $79.7M, with Transportation ($38.3M), Other business services ($16.6M), and Travel ($15.3M) being the largest in terms of value.

Comparison: In 2022,  Hungary ranked 14 in the Economic Complexity Index (ECI 1.38), and 35 in total exports ($145B). That same year, Bulgaria ranked 38 in the Economic Complexity Index (ECI 0.68), and 60 in total exports ($51.9B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Hungary exported $1.75B to Bulgaria. The main products exported from Hungary to Bulgaria were Packaged Medicaments ($180M), Cars ($136M), and Electric Batteries ($105M). During the last 5 years the exports of Hungary to Bulgaria have increased at an annualized rate of 7.71%, from $1.2B in 2017 to $1.75B in 2022.

In 2017, Bulgaria exported $825M to Hungary. The main products exported from Bulgaria to Hungary were Industrial Fatty Acids, Oils and Alcohols ($137M), Refined Petroleum ($85.6M), and Other Small Iron Pipes ($43M). During the last 5 years the exports of Bulgaria to Hungary have increased at an annualized rate of 8.19%, from $514M in 2022 to $825M in 2017.

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

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

Latest Data

Trade between Hungary (Flag) and Bulgaria (Flag)

Hungary Exports

Bulgaria Exports

Market Competitiveness

Color
Hungary
Top DestinationGermany$35.5B
Bulgaria
Top DestinationGermany$6.91B

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

In 2022, countries that imported more from Hungary than Bulgaria included Germany ($35.5B), Slovakia ($6.78B), and Austria ($6.32B).

In 2022, countries that imported more from Bulgaria than Hungary included Greece ($2.93B), Turkey ($2.95B), and Egypt ($851M).

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

Comparative Advantage Hungary - Bulgaria

Flow
Scale

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

During 2022, Hungary had a large net trade with Bulgaria in the exports of Machines ($702M), Chemical Products ($313M), and Transportation ($187M).

During 2017, Bulgaria had a large net trade with Hungary in the exports of Chemical Products ($173M), Metals ($161M), and Machines ($158M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Hungary Bulgaria+$20.4MCars
Top Product Potential Bulgaria Hungary+$19.7MRefined Petroleum

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 2020, Hungary exported services to Bulgaria worth $192M, with Transportation ($112M), Travel ($53M), and Other business services ($11.1M) being the largest in terms of value.

In 2020, Bulgaria exported services to Hungary worth $79.7M, with Transportation ($38.3M), Other business services ($16.6M), and Travel ($15.3M) being the largest in terms of value.

Service trade data is presented based on availability.

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

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

Service Trade

Economic Complexity

Competitive Landscape

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

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

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