2023
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GDP
$212BCURRENT US$
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2013-2023
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GDP GROWTH
56.5%CURRENT US$
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2023
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 GDP
$551BCURRENT US$
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2013-2023
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GDP GROWTH
127%CURRENT US$
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2023
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GDP PC 
$22,142CURRENT US$
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2013-2023
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GDP PC GROWTH
61.4%CURRENT US$
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2023
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GDP PC
$103,888CURRENT US$
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2013-2023
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GDP PC GROWTH
97.4%CURRENT US$
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About

Hungary-Ireland Trade: In 2023, Hungary exported $1.14B to Ireland. The main products that Hungary exported to Ireland were Computers ($577M), Electric Generating Sets ($103M), and Gas Turbines ($103M). Over the past 5 years the exports of Hungary to Ireland have increased at an annualized rate of 20.9%, from $439M in 2018 to $1.14B in 2023.

In 2020, Hungary exported services to Ireland worth $513M, with Computer and information services ($216M), Other business services ($194M), and Transportation ($66.8M) being the largest in terms of value.

Ireland-Hungary Trade: In 2023, Ireland exported $1.01B to Hungary. The main products that Ireland exported to Hungary were Broadcasting Equipment ($193M), Packaged Medicaments ($142M), and Vaccines, blood, antisera, toxins and cultures ($134M). Over the past 5 years the exports of Ireland to Hungary have increased at an annualized rate of 12.6%,  from $561M in 2018 to $1.01B in 2023.

In 2020, Ireland exported services to Hungary worth $210M, with Other business services ($180M), Insurance services ($17.1M), and Transportation ($8M) 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, Ireland ranked 17 in the Economic Complexity Index (ECI 1.31), and 29 in total exports ($241B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Hungary exported $1.14B to Ireland. The main products exported from Hungary to Ireland were Computers ($577M), Electric Generating Sets ($103M), and Gas Turbines ($103M). During the last 5 years the exports of Hungary to Ireland have increased at an annualized rate of 20.9%, from $439M in 2018 to $1.14B in 2023.

In 2018, Ireland exported $1.01B to Hungary. The main products exported from Ireland to Hungary were Broadcasting Equipment ($193M), Packaged Medicaments ($142M), and Vaccines, blood, antisera, toxins and cultures ($134M). During the last 5 years the exports of Ireland to Hungary have increased at an annualized rate of 12.6%, from $561M in 2023 to $1.01B in 2018.

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

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

Latest Data

Trade between Hungary (Flag) and Ireland (Flag)

Hungary Exports

Ireland Exports

Market Competitiveness

Color
Hungary
Top Destination
Germany$37.4B
Ireland
Top Destination
United States$67.4B

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

In 2023, countries that imported more from Hungary than Ireland included Germany ($37.4B), Romania ($8.43B), and Slovakia ($6.54B).

In 2023, countries that imported more from Ireland than Hungary included United States ($67.4B), Belgium ($18.7B), and China ($18B).

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

Comparative Advantage Hungary - Ireland

Flow
Scale

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

During 2023, Hungary had a large net trade with Ireland in the exports of Machines ($930M), Chemical Products ($71.1M), and Transportation ($33.5M).

During 2018, Ireland had a large net trade with Hungary in the exports of Machines ($504M), Chemical Products ($388M), and Instruments ($31.4M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Hungary Ireland+$34MCars
Top Product Potential Ireland Hungary+$53.4MPackaged Medicaments

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 Ireland worth $513M, with Computer and information services ($216M), Other business services ($194M), and Transportation ($66.8M) being the largest in terms of value.

In 2020, Ireland exported services to Hungary worth $210M, with Other business services ($180M), Insurance services ($17.1M), and Transportation ($8M) being the largest in terms of value.

Service trade data is presented based on availability.

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

Services Exports from Ireland (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 Ireland. This means that a dot/product with the flag of Hungary indicates it has a comparative advantage over Ireland. Similarly, a dot/product with the flag of Ireland indicates it has a comparative advantage over Hungary.

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

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