Hungary (HUN) and Sweden (SWE) Trade | The Observatory of Economic Complexity

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Hungary-Sweden Trade: In 2022, Hungary exported $1.6B to Sweden. The main products that Hungary exported to Sweden were Video Displays ($254M), Motor vehicles; parts and accessories (8701 to 8705) ($218M), and Insulated Wire ($79.1M). Over the past 5 years the exports of Hungary to Sweden have increased at an annualized rate of 61%, from $148M in 2017 to $1.6B in 2022.

In 2020, Hungary exported services to Sweden worth $359M, with Other business services ($187M), Computer and information services ($67.7M), and Transportation ($62.2M) being the largest in terms of value.

Sweden-Hungary Trade: In 2022, Sweden exported $794M to Hungary. The main products that Sweden exported to Hungary were Packaged Medicaments ($76.4M), Cars ($57.6M), and Kaolin Coated Paper ($44.1M). Over the past 5 years the exports of Sweden to Hungary have increased at an annualized rate of 19.8%, from $322M in 2017 to $794M in 2022.

In 2020, Sweden exported services to Hungary worth $162M, with Other business services ($49.5M), Transportation ($29.1M), and Computer and information services ($28.2M) 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, Sweden ranked 9 in the Economic Complexity Index (ECI 1.49), and 33 in total exports ($194B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Hungary exported $1.6B to Sweden. The main products exported from Hungary to Sweden were Video Displays ($254M), Motor vehicles; parts and accessories (8701 to 8705) ($218M), and Insulated Wire ($79.1M). During the last 5 years the exports of Hungary to Sweden have increased at an annualized rate of 61%, from $148M in 2017 to $1.6B in 2022.

In 2017, Sweden exported $794M to Hungary. The main products exported from Sweden to Hungary were Packaged Medicaments ($76.4M), Cars ($57.6M), and Kaolin Coated Paper ($44.1M). During the last 22 years the exports of Sweden to Hungary have increased at an annualized rate of 19.8%, from $322M in 1995 to $794M in 2017.

Exports from Hungary () to Sweden () (2022)

Exports from Sweden () to Hungary () (2022)

Latest Data

Trade between Hungary () and Sweden ()

Hungary Exports

Date

Sweden Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Hungary
Top DestinationGermany$35.5B

Sweden
Top DestinationGermany$19.2B

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

In 2022, countries that imported more from Hungary than Sweden included Germany ($35.5B), Romania ($7.94B), and Slovakia ($6.78B).

In 2022, countries that imported more from Sweden than Hungary included Norway ($18.7B), Denmark ($14.6B), and Finland ($13.4B).

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

Comparative Advantage Hungary - Sweden

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Hungary had a large net trade with Sweden in the exports of Machines ($1.09B), Transportation ($271M), and Foodstuffs ($69.8M).

During 2017, Sweden had a large net trade with Hungary in the exports of Machines ($239M), Paper Goods ($128M), and Chemical Products ($116M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Hungary Sweden+$61.7MCars

Top Product Potential Sweden Hungary+$43.3MCars

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

Swe Year

Hun Year

In 2020, Hungary exported services to Sweden worth $359M, with Other business services ($187M), Computer and information services ($67.7M), and Transportation ($62.2M) being the largest in terms of value.

In 2020, Sweden exported services to Hungary worth $162M, with Other business services ($49.5M), Transportation ($29.1M), and Computer and information services ($28.2M) being the largest in terms of value.

Service trade data is presented based on availability.

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

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

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Historical Data

Bilateral Trade by Products

Exports from Hungary () to Sweden () (2022)

Exports from Sweden () to Hungary () (2022)

Latest Data

Trade between Hungary () and Sweden ()

Hungary Exports

Sweden Exports

Market Competitiveness

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

Comparative Advantage Hungary - Sweden

Potential Exports

Potential Exports

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Bilateral Service Trade

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

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

Service Trade

Economic Complexity

Competitive Landscape

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

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