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2023
Flag → Flag
Exports $5.57BRnk 28 / 219
2023
Flag → Flag
Top Product $276MCopper Wire
2023
Flag → Flag
Exports $9.08BRnk 2 / 201
2023
Flag → Flag
Top Product $1.11BCars
2023
Flag
Economic Complexity (ECI) ECI 1.29Rnk 18 / 132
2023
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Economic Complexity (ECI) ECI 1.41Rnk 14 / 132
2023
Flag  
GDP$2.3TCURRENT US$
Rnk 8 / 195
2013-2023
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GDP GROWTH6.86%CURRENT US$
Rnk 165 / 195
2023
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 GDP$212BCURRENT US$
Rnk 56 / 195
2013-2023
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GDP GROWTH56.5%CURRENT US$
Rnk 60 / 195
2023
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GDP PC $39,003CURRENT US$
Rnk 32 / 195
2013-2023
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GDP PC GROWTH9.11%CURRENT US$
Rnk 136 / 195
2023
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GDP PC$22,142CURRENT US$
Rnk 58 / 196
2013-2023
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GDP PC GROWTH61.4%CURRENT US$
Rnk 29 / 195

About

Italy-Hungary Trade: In 2023, Italy exported $5.57B to Hungary. The main products that Italy exported to Hungary were Copper Wire ($276M), Motor vehicles; parts and accessories (8701 to 8705) ($205M), and Raw Aluminium ($190M). Over the past 5 years the exports of Italy to Hungary have increased at an annualized rate of 1.26%, from $5.23B in 2018 to $5.57B in 2023.

In 2020, Italy exported services to Hungary worth $330M, with Transportation ($106M), Travel ($79.6M), and Computer and information services ($49.1M) being the largest in terms of value.

Hungary-Italy Trade: In 2023, Hungary exported $9.08B to Italy. The main products that Hungary exported to Italy were Cars ($1.11B), Electric Batteries ($958M), and Wheat ($465M). Over the past 5 years the exports of Hungary to Italy have increased at an annualized rate of 7.96%,  from $6.19B in 2018 to $9.08B in 2023.

In 2020, Hungary exported services to Italy worth $470M, with Transportation ($152M), Other business services ($108M), and Travel ($98.2M) being the largest in terms of value.

Comparison: In 2023,  Italy ranked 18 in the Economic Complexity Index (ECI 1.29), and 6 in total exports ($638B). That same year, Hungary ranked 14 in the Economic Complexity Index (ECI 1.41), and 35 in total exports ($150B).

Latest Trends

October, 2024

About

Overview In October 2024, Italy exported €520M and imported €570M from Hungary, resulting in a negative trade balance of €50.1M. Between October 2023 and October 2024 the exports of Italy have increased by €73M (16.3%) from €447M to €520M, while imports decreased by €-63.8M (-10.1%) from €634M to €570M.

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (October 2023 - October 2024)€73M(16.3%)
IMPORT GROWTH (October 2023 - October 2024)€-63.8M(-10.1%)

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

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

For full datasets download visit Bulk Download page.

Explore Hungary and Italy Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Italy exported $5.57B to Hungary. The main products exported from Italy to Hungary were Copper Wire ($276M), Motor vehicles; parts and accessories (8701 to 8705) ($205M), and Raw Aluminium ($190M). During the last 5 years the exports of Italy to Hungary have increased at an annualized rate of 1.26%, from $5.23B in 2018 to $5.57B in 2023.

In 2018, Hungary exported $9.08B to Italy. The main products exported from Hungary to Italy were Cars ($1.11B), Electric Batteries ($958M), and Wheat ($465M). During the last 5 years the exports of Hungary to Italy have increased at an annualized rate of 7.96%, from $6.19B in 2023 to $9.08B in 2018.

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

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

Market Competitiveness

Color
Italy
Top DestinationGermany$71.4B
Hungary
Top DestinationGermany$37.4B

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

In 2023, countries that imported more from Italy than Hungary included United States ($70.9B), France ($61.1B), and Germany ($71.4B).

In 2023, countries that imported more from Hungary than Italy included Slovakia ($6.54B), Saint Martin ($1.49M), and Saint Barthélemy ($342k).

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

Comparative Advantage Italy - Hungary

Flow
Scale

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

During 2023, Italy had a large net trade with Hungary in the exports of Machines ($1.53B), Metals ($1.35B), and Chemical Products ($566M).

During 2018, Hungary had a large net trade with Italy in the exports of Machines ($2.89B), Transportation ($1.45B), and Vegetable Products ($903M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Italy Hungary+$107MMotor vehicles; parts and accessories (8701 to 8705)
Top Product Potential Hungary Italy+$280MCars

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, Italy exported services to Hungary worth $330M, with Transportation ($106M), Travel ($79.6M), and Computer and information services ($49.1M) being the largest in terms of value.

In 2020, Hungary exported services to Italy worth $470M, with Transportation ($152M), Other business services ($108M), and Travel ($98.2M) being the largest in terms of value.

Service trade data is presented based on availability.

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

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

Service Trade

Economic Complexity

Competitive Landscape

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

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

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