Iraq (IRQ) and Hungary (HUN) Trade | The Observatory of Economic Complexity

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Iraq-Hungary Trade: In 2023, Iraq exported $110M to Hungary. The main products that Iraq exported to Hungary were Crude Petroleum ($109M), Broadcasting Equipment ($784k), and Styrene Polymers ($175k). Over the past 5 years the exports of Iraq to Hungary have decreased at an annualized rate of 21.5%, from $369M in 2018 to $110M in 2023.

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

Hungary-Iraq Trade: In 2023, Hungary exported $67.7M to Iraq. The main products that Hungary exported to Iraq were Other Edible Preparations ($19.8M), Gas Turbines ($7.75M), and Other Printed Material ($7M). Over the past 5 years the exports of Hungary to Iraq have increased at an annualized rate of 3%, from $40.9M in 2018 to $67.7M in 2023.

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

Comparison: In 2023, Iraq ranked 97 in the Economic Complexity Index (ECI -0.71), and 40 in total exports ($107B). That same year, Hungary ranked 14 in the Economic Complexity Index (ECI 1.41), and 35 in total exports ($150B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Iraq exported $110M to Hungary. The main products exported from Iraq to Hungary were Crude Petroleum ($109M), Broadcasting Equipment ($784k), and Styrene Polymers ($175k). During the last 5 years the exports of Iraq to Hungary have decreased at an annualized rate of 21.5%, from $369M in 2018 to $110M in 2023.

In 2018, Hungary exported $67.7M to Iraq. The main products exported from Hungary to Iraq were Other Edible Preparations ($19.8M), Gas Turbines ($7.75M), and Other Printed Material ($7M). During the last 5 years the exports of Hungary to Iraq have increased at an annualized rate of 3%, from $40.9M in 2023 to $67.7M in 2018.

Exports from Iraq () to Hungary () (2023)

Exports from Hungary () to Iraq () (2023)

Latest Data

Trade between Iraq () and Hungary ()

Hungary Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Iraq
Top DestinationChina$35.5B

Hungary
Top DestinationGermany$37.4B

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

In 2023, countries that imported more from Iraq than Hungary included China ($35.5B), India ($29.8B), and Greece ($5.68B).

In 2023, countries that imported more from Hungary than Iraq included Germany ($37.4B), Romania ($8.43B), and Slovakia ($6.54B).

Difference in imports from Hungary () and Iraq () (2023)

Comparative Advantage Iraq - Hungary

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Iraq had a large net trade with Hungary in the exports of Mineral Products ($109M), Machines ($929k), and Plastics and Rubbers ($175k).

During 2018, Hungary had a large net trade with Iraq in the exports of Machines ($21.3M), Foodstuffs ($20.4M), and Animal Products ($7.29M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Iraq Hungary+$457kTelephones

Top Product Potential Hungary Iraq+$6MCars

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

Year

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

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Historical Data

Bilateral Trade by Products

Exports from Iraq () to Hungary () (2023)

Exports from Hungary () to Iraq () (2023)

Latest Data

Trade between Iraq () and Hungary ()

Hungary Exports

Market Competitiveness

Difference in imports from Hungary () and Iraq () (2023)

Comparative Advantage Iraq - Hungary

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Iraq () and Hungary () (2023)

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