Hungary (HUN) and Bulgaria (BGR) Trade | The Observatory of Economic Complexity

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Hungary-Bulgaria Trade: In 2023, Hungary exported $1.84B to Bulgaria. The main products that Hungary exported to Bulgaria were Packaged Medicaments ($270M), Cars ($192M), and Broadcasting Equipment ($90.2M). Over the past 5 years the exports of Hungary to Bulgaria have increased at an annualized rate of 7.89%, from $1.26B in 2018 to $1.84B in 2023.

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 2023, Bulgaria exported $612M to Hungary. The main products that Bulgaria exported to Hungary were Industrial Fatty Acids, Oils and Alcohols ($108M), Low-voltage Protection Equipment ($29.8M), and Other Plastic Products ($28.7M). Over the past 5 years the exports of Bulgaria to Hungary have increased at an annualized rate of 4.18%, from $499M in 2018 to $612M in 2023.

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 2023, Hungary ranked 14 in the Economic Complexity Index (ECI 1.41), and 35 in total exports ($150B). That same year, Bulgaria ranked 38 in the Economic Complexity Index (ECI 0.69), and 59 in total exports ($50.6B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Hungary exported $1.84B to Bulgaria. The main products exported from Hungary to Bulgaria were Packaged Medicaments ($270M), Cars ($192M), and Broadcasting Equipment ($90.2M). During the last 5 years the exports of Hungary to Bulgaria have increased at an annualized rate of 7.89%, from $1.26B in 2018 to $1.84B in 2023.

In 2018, Bulgaria exported $612M to Hungary. The main products exported from Bulgaria to Hungary were Industrial Fatty Acids, Oils and Alcohols ($108M), Low-voltage Protection Equipment ($29.8M), and Other Plastic Products ($28.7M). During the last 5 years the exports of Bulgaria to Hungary have increased at an annualized rate of 4.18%, from $499M in 2023 to $612M in 2018.

Exports from Hungary () to Bulgaria () (2023)

Exports from Bulgaria () to Hungary () (2023)

Latest Data

Trade between Hungary () and Bulgaria ()

Hungary Exports

Date

Bulgaria Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Hungary
Top DestinationGermany$37.4B

Bulgaria
Top DestinationGermany$6.84B

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 2023, countries that imported more from Hungary than Bulgaria included Germany ($37.4B), United States ($7.66B), and Slovakia ($6.54B).

In 2023, countries that imported more from Bulgaria than Hungary included Greece ($3.04B), Egypt ($923M), and Algeria ($592M).

Difference in imports from Bulgaria () and Hungary () (2023)

Comparative Advantage Hungary - Bulgaria

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Hungary had a large net trade with Bulgaria in the exports of Machines ($622M), Chemical Products ($404M), and Transportation ($255M).

During 2018, Bulgaria had a large net trade with Hungary in the exports of Machines ($157M), Chemical Products ($139M), and Metals ($100M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

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

Bgr Year

Hun Year

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 () to Bulgaria () (2020)

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

Service Trade

Economic Complexity

Competitive Landscape

Year

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.

About

Historical Data

Bilateral Trade by Products

Exports from Hungary () to Bulgaria () (2023)

Exports from Bulgaria () to Hungary () (2023)

Latest Data

Trade between Hungary () and Bulgaria ()

Hungary Exports

Bulgaria Exports

Market Competitiveness

Difference in imports from Bulgaria () and Hungary () (2023)

Comparative Advantage Hungary - Bulgaria

Potential Exports

Potential Exports

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Bilateral Service Trade

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

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

Service Trade

Economic Complexity

Competitive Landscape

Product Space of Hungary () and Bulgaria () (2023)

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