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
$515BCURRENT US$
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GDP GROWTH
22.5%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
$7,182CURRENT US$
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GDP PC GROWTH
19.3%CURRENT US$
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About

Hungary-Thailand Trade: In 2023, Hungary exported $247M to Thailand. The main products that Hungary exported to Thailand were Broadcasting Equipment ($20.8M), Cars ($20M), and Motor vehicles; parts and accessories (8701 to 8705) ($16M). Over the past 5 years the exports of Hungary to Thailand have increased at an annualized rate of 4.81%, from $195M in 2018 to $247M in 2023.

In 2020, Hungary exported services to Thailand worth $2.86M, with Transportation ($1.6M), Other business services ($800k), and Royalties and license fees ($228k) being the largest in terms of value.

Thailand-Hungary Trade: In 2023, Thailand exported $562M to Hungary. The main products that Thailand exported to Hungary were Electrical Transformers ($85M), Valves ($61.1M), and Integrated Circuits ($42.8M). Over the past 5 years the exports of Thailand to Hungary have decreased at an annualized rate of 0.86%,  from $587M in 2018 to $562M in 2023.

In 2023, Thailand did not export any services to Hungary.

Comparison: In 2023,  Hungary ranked 14 in the Economic Complexity Index (ECI 1.41), and 35 in total exports ($150B). That same year, Thailand ranked 29 in the Economic Complexity Index (ECI 0.96), and 25 in total exports ($332B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Hungary exported $247M to Thailand. The main products exported from Hungary to Thailand were Broadcasting Equipment ($20.8M), Cars ($20M), and Motor vehicles; parts and accessories (8701 to 8705) ($16M). During the last 5 years the exports of Hungary to Thailand have increased at an annualized rate of 4.81%, from $195M in 2018 to $247M in 2023.

In 2018, Thailand exported $562M to Hungary. The main products exported from Thailand to Hungary were Electrical Transformers ($85M), Valves ($61.1M), and Integrated Circuits ($42.8M). During the last 5 years the exports of Thailand to Hungary have decreased at an annualized rate of 0.86%, from $587M in 2023 to $562M in 2018.

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

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

Latest Data

Trade between Hungary (Flag) and Thailand (Flag)

Hungary Exports

Thailand Exports

Market Competitiveness

Color
Hungary
Top Destination
Germany$37.4B
Thailand
Top Destination
United States$58.5B

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

In 2023, countries that imported more from Hungary than Thailand included Germany ($37.4B), Romania ($8.43B), and Italy ($9.08B).

In 2023, countries that imported more from Thailand than Hungary included United States ($58.5B), China ($44.1B), and Japan ($24.9B).

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

Comparative Advantage Hungary - Thailand

Flow
Scale

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

During 2023, Hungary had a large net trade with Thailand in the exports of Machines ($135M), Transportation ($36.8M), and Instruments ($17.9M).

During 2018, Thailand had a large net trade with Hungary in the exports of Machines ($457M), Plastics and Rubbers ($27M), and Transportation ($26.4M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Hungary Thailand+$29.3MTelephones
Top Product Potential Thailand Hungary+$36.1MIntegrated Circuits

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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Economic Complexity

Competitive Landscape

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

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

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