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2022
Flag → Flag
Exports $788MRnk 69 / 217
2022
Flag → Flag
Top Product $110MNavigation Equipment
2022
Flag → Flag
Exports $491MRnk 35 / 205
2022
Flag → Flag
Top Product $49MBall Bearings
2022
Flag
Economic Complexity (ECI) ECI 0.64Rnk 40 / 133
2022
Flag
Economic Complexity (ECI) ECI 1.38Rnk 14 / 133
2022
Flag  
GDP$3.39TCURRENT US$
Rnk 5 / 186
2012-2022
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GDP GROWTH85.2%CURRENT US$
Rnk 24 / 186
2022
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 GDP$179BCURRENT US$
Rnk 57 / 186
2012-2022
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GDP GROWTH38.8%CURRENT US$
Rnk 86 / 186
2022
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GDP PC $2,389CURRENT US$
Rnk 140 / 186
2012-2022
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GDP PC GROWTH66.6%CURRENT US$
Rnk 20 / 186
2022
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GDP PC$18,463CURRENT US$
Rnk 55 / 186
2012-2022
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GDP PC GROWTH42.2%CURRENT US$
Rnk 44 / 186

About

India-Hungary Trade: In 2022, India exported $788M to Hungary. The main products that India exported to Hungary were Navigation Equipment ($110M), Packaged Medicaments ($65.7M), and Unpackaged Medicaments ($49M). Over the past 5 years the exports of India to Hungary have increased at an annualized rate of 9.38%, from $503M in 2017 to $788M in 2022.

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

Hungary-India Trade: In 2022, Hungary exported $491M to India. The main products that Hungary exported to India were Ball Bearings ($49M), Laboratory Ceramic Ware ($38.4M), and Antibiotics ($28.6M). Over the past 5 years the exports of Hungary to India have increased at an annualized rate of 14.2%,  from $252M in 2017 to $491M in 2022.

In 2020, Hungary exported services to India worth $14M, with Other business services ($4.23M), Transportation ($3.88M), and Computer and information services ($2.06M) being the largest in terms of value.

Comparison: In 2022,  India ranked 40 in the Economic Complexity Index (ECI 0.64), and 15 in total exports ($468B). That same year, Hungary ranked 14 in the Economic Complexity Index (ECI 1.38), and 35 in total exports ($145B).

Latest Trends

September, 2024

About

Overview In September 2024, India exported $43.7M and imported $27.6M from Hungary, resulting in a positive trade balance of $16.2M. Between September 2023 and September 2024 the exports of India have decreased by $-5.03M (-10.3%) from $48.8M to $43.7M, while imports increased by $8.25M (42.7%) from $19.3M to $27.6M.

Trade In September 2024, the top exports of India to Hungary were Drug Formulations, Biologicals ($6.94M), Telecom Instruments ($5.96M), Electric Machinery And Equipme ($4.2M), Residul Chemicl And Alled Prod ($3.68M), and Auto Components/Parts ($3.07M). In September 2024 the top imports of India from Hungary were Residul Chemicl And Alled Prod ($4.23M), Organic Chemicals ($3.72M), Bulk Drugs, Drug Intermediates ($2.9M), Electronics Instruments ($2.06M), and Ceramics And Allied Products ($1.81M).

Growth In September 2024, the decrease in India's year-by-year exports to Hungary was explained primarily by an decrease in product exports in Plastic Raw Materials ($-1.92M or -97.8%), Telecom Instruments ($-1.42M or -19.3%), and Optical Items (Incl.Lens Etc) ($-953k or -100%). In September 2024, the increase in India's year-by-year imports  from Hungary was explained primarily by an increase in product imports  in Organic Chemicals ($2.88M or 343%), Bulk Drugs, Drug Intermediates ($1.97M or 213%), and Ceramics And Allied Products ($1.68M or 1.32k%).

Latest Trade

Time Scale
Flow
Value
EXPORT GROWTH (September 2023 - September 2024)$-5.03M(-10.3%)
IMPORT GROWTH (September 2023 - September 2024)$8.25M(42.7%)

This section shows exports and imports data at subnational level for India. Click any date in the line plot or any product to explore the exports or imports behavior of India over time.

To check Hungary and India trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Hungary and India Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, India exported $788M to Hungary. The main products exported from India to Hungary were Navigation Equipment ($110M), Packaged Medicaments ($65.7M), and Unpackaged Medicaments ($49M). During the last 5 years the exports of India to Hungary have increased at an annualized rate of 9.38%, from $503M in 2017 to $788M in 2022.

In 2017, Hungary exported $491M to India. The main products exported from Hungary to India were Ball Bearings ($49M), Laboratory Ceramic Ware ($38.4M), and Antibiotics ($28.6M). During the last 5 years the exports of Hungary to India have increased at an annualized rate of 14.2%, from $252M in 2022 to $491M in 2017.

Exports from India (Flag) to Hungary (Flag) (2022)

Exports from Hungary (Flag) to India (Flag) (2022)

Market Competitiveness

Color
India
Top DestinationUnited States$82.9B
Hungary
Top DestinationGermany$35.5B

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

In 2022, countries that imported more from India than Hungary included United States ($82.9B), United Arab Emirates ($31.6B), and Bangladesh ($13.8B).

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

Difference in imports from Hungary (Flag) and India (Flag) (2022)

Comparative Advantage India - Hungary

Flow
Scale

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

During 2022, India had a large net trade with Hungary in the exports of Machines ($315M), Chemical Products ($227M), and Plastics and Rubbers ($55.2M).

During 2017, Hungary had a large net trade with India in the exports of Machines ($207M), Chemical Products ($94.6M), and Transportation ($49.3M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential India Hungary+$62.8MPackaged Medicaments
Top Product Potential Hungary India+$43.8MComputers

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 India worth $14M, with Other business services ($4.23M), Transportation ($3.88M), and Computer and information services ($2.06M) being the largest in terms of value.

Service trade data is presented based on availability.

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

Service Trade

Economic Complexity

Competitive Landscape

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

Product Space of India (Flag) and Hungary (Flag) (2022)

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