Hungary (HUN) and Nicaragua (NIC) Trade | The Observatory of Economic Complexity

About

Hungary-Nicaragua Trade: In 2022, Hungary exported $2.98M to Nicaragua. The main products that Hungary exported to Nicaragua were Plastic Lids ($879k), Cars ($338k), and Other Plastic Products ($213k). Over the past 5 years the exports of Hungary to Nicaragua have decreased at an annualized rate of 10.6%, from $5.21M in 2017 to $2.98M in 2022.

In 2022, Hungary did not export any services to Nicaragua.

Nicaragua-Hungary Trade: In 2022, Nicaragua exported $484k to Hungary. The main products that Nicaragua exported to Hungary were Ground Nuts ($295k), Rolled Tobacco ($189k), and Other Plastic Products ($107). Over the past 5 years the exports of Nicaragua to Hungary have increased at an annualized rate of 8.74%, from $269k in 2017 to $484k in 2022.

In 2022, Nicaragua did not export any services to Hungary.

Comparison: In 2022, Hungary ranked 14 in the Economic Complexity Index (ECI 1.38), and 35 in total exports ($145B). That same year, Nicaragua ranked 110 in the Economic Complexity Index (ECI -0.97), and 111 in total exports ($7.92B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Hungary exported $2.98M to Nicaragua. The main products exported from Hungary to Nicaragua were Plastic Lids ($879k), Cars ($338k), and Other Plastic Products ($213k). During the last 5 years the exports of Hungary to Nicaragua have decreased at an annualized rate of 10.6%, from $5.21M in 2017 to $2.98M in 2022.

In 2017, Nicaragua exported $484k to Hungary. The main products exported from Nicaragua to Hungary were Ground Nuts ($295k), Rolled Tobacco ($189k), and Other Plastic Products ($107). During the last 5 years the exports of Nicaragua to Hungary have increased at an annualized rate of 8.74%, from $269k in 2022 to $484k in 2017.

Exports from Hungary () to Nicaragua () (2022)

Exports from Nicaragua () to Hungary () (2022)

Latest Data

Trade between Hungary () and Nicaragua ()

Hungary Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Hungary
Top DestinationGermany$35.5B

Nicaragua
Top DestinationUnited States$4.09B

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

In 2022, countries that imported more from Hungary than Nicaragua included Germany ($35.5B), Italy ($8.02B), and Romania ($7.94B).

In 2022, countries that imported more from Nicaragua than Hungary included Honduras ($541M), El Salvador ($437M), and Guatemala ($221M).

Difference in imports from Nicaragua () and Hungary () (2022)

Comparative Advantage Hungary - Nicaragua

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Hungary had a large net trade with Nicaragua in the exports of Plastics and Rubbers ($1.1M), Machines ($864k), and Transportation ($392k).

During 2017, Nicaragua had a large net trade with Hungary in the exports of Vegetable Products ($295k), Foodstuffs ($189k), and Plastics and Rubbers ($107).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Hungary Nicaragua+$694kCars

Top Product Potential Nicaragua Hungary+$419kRolled Tobacco

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.

Subscribe today to OEC pro and access the latest data

Sign Up

Subscribe today to OEC pro and access the latest data

Sign Up

Economic Complexity

Competitive Landscape

Year

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

About

Historical Data

Bilateral Trade by Products

Exports from Hungary () to Nicaragua () (2022)

Exports from Nicaragua () to Hungary () (2022)

Latest Data

Trade between Hungary () and Nicaragua ()

Hungary Exports

Market Competitiveness

Difference in imports from Nicaragua () and Hungary () (2022)

Comparative Advantage Hungary - Nicaragua

Potential Exports

Potential Exports

Subscribe today to OEC pro and access the latest data

Subscribe today to OEC pro and access the latest data

Economic Complexity

Competitive Landscape

Product Space of Hungary () and Nicaragua () (2022)

Keep Exploring