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2022
Flag → Flag
Exports $767MRnk 28 / 210
2022
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Top Product $122MPackaged Medicaments
2022
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Exports $611MRnk 32 / 205
2022
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Top Product $312MComputers
2022
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Economic Complexity (ECI) ECI 1.27Rnk 18 / 133
2022
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Economic Complexity (ECI) ECI 1.38Rnk 14 / 133
2022
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GDP$529BCURRENT US$
Rnk 26 / 186
2012-2022
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GDP GROWTH135%CURRENT US$
Rnk 7 / 186
2022
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 GDP$179BCURRENT US$
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2012-2022
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GDP GROWTH38.8%CURRENT US$
Rnk 86 / 186
2022
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GDP PC $104,039CURRENT US$
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2012-2022
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GDP PC GROWTH112%CURRENT US$
Rnk 7 / 186
2022
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GDP PC$18,463CURRENT US$
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2012-2022
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GDP PC GROWTH42.2%CURRENT US$
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About

Ireland-Hungary Trade: In 2022, Ireland exported $767M to Hungary. The main products that Ireland exported to Hungary were Packaged Medicaments ($122M), Broadcasting Equipment ($96.4M), and Integrated Circuits ($80.8M). Over the past 5 years the exports of Ireland to Hungary have increased at an annualized rate of 7.88%, from $525M in 2017 to $767M in 2022.

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.

Hungary-Ireland Trade: In 2022, Hungary exported $611M to Ireland. The main products that Hungary exported to Ireland were Computers ($312M), Cars ($43.6M), and Packaged Medicaments ($19.3M). Over the past 5 years the exports of Hungary to Ireland have increased at an annualized rate of 21.7%,  from $229M in 2017 to $611M in 2022.

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.

Comparison: In 2022,  Ireland ranked 18 in the Economic Complexity Index (ECI 1.27), and 31 in total exports ($236B). That same year, Hungary ranked 14 in the Economic Complexity Index (ECI 1.38), and 35 in total exports ($145B).

Latest Trends

August, 2024

About

Overview In August 2024, Ireland exported €47.2M and imported €54.1M from Hungary, resulting in a negative trade balance of €6.89M. Between August 2023 and August 2024 the exports of Ireland have increased by €16.2M (52.4%) from €31M to €47.2M, while imports increased by €5.93M (12.3%) from €48.1M to €54.1M.

Trade In August 2024, the top exports of Ireland to Hungary were Medicinal and pharmaceutical products (€43.6M), Essential oils, perfume materials, toilet preparations... (€2.66M), Chemical materials and products, n.e.s. (€2.48M), Machinery specialised for particular industries (€2.36M), and Miscellaneous manufactured articles, n.e.s. (€1.91M). In August 2024 the top imports of Ireland from Hungary were Office machines and automatic data processing... (€28.7M), Power generating machinery and equipment (€4.2M), Photographic apparatus, optical goods, watches and... (€3.55M), Machinery specialised for particular industries (€3.4M), and Medicinal and pharmaceutical products (€2.42M).

Growth In August 2024, the increase in Ireland's year-by-year exports to Hungary was explained primarily by an increase in product exports in Medicinal and pharmaceutical products (€14.8M or 51.2%), Chemical materials and products, n.e.s. (€2.31M or 1.3k%), and Plastics in primary forms (€775k or 923%). In August 2024, the increase in Ireland's year-by-year imports  from Hungary was explained primarily by an increase in product imports  in Office machines and automatic data processing... (€20.1M or 233%), Power generating machinery and equipment (€4.17M or 13.5k%), and Machinery specialised for particular industries (€2.18M or 178%).

Latest Trade

Time Scale
Flow
Value
EXPORT GROWTH (August 2023 - August 2024)€16.2M(52.4%)
IMPORT GROWTH (August 2023 - August 2024)€5.93M(12.3%)

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

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

For full datasets download visit Bulk Download page.

Explore Hungary and Ireland Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Ireland exported $767M to Hungary. The main products exported from Ireland to Hungary were Packaged Medicaments ($122M), Broadcasting Equipment ($96.4M), and Integrated Circuits ($80.8M). During the last 5 years the exports of Ireland to Hungary have increased at an annualized rate of 7.88%, from $525M in 2017 to $767M in 2022.

In 2017, Hungary exported $611M to Ireland. The main products exported from Hungary to Ireland were Computers ($312M), Cars ($43.6M), and Packaged Medicaments ($19.3M). During the last 5 years the exports of Hungary to Ireland have increased at an annualized rate of 21.7%, from $229M in 2022 to $611M in 2017.

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

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

Market Competitiveness

Color
Ireland
Top DestinationUnited States$70.7B
Hungary
Top DestinationGermany$35.5B

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

In 2022, countries that imported more from Ireland than Hungary included United States ($70.7B), United Kingdom ($19B), and China ($16.7B).

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

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

Comparative Advantage Ireland - Hungary

Flow
Scale

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

During 2022, Ireland had a large net trade with Hungary in the exports of Machines ($335M), Chemical Products ($322M), and Plastics and Rubbers ($36M).

During 2017, Hungary had a large net trade with Ireland in the exports of Machines ($431M), Chemical Products ($52.5M), and Transportation ($47.4M).

Potential Exports

Potential Exports

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

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, 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.

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.

Service trade data is presented based on availability.

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

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

Service Trade

Economic Complexity

Competitive Landscape

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

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

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