Flag South Korea / Hungary Flag

2021
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Exports
: $3.81B, Rnk 27 / 218

2021
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Top Product
: $549M, Machinery Having Individual Functions

2021
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Exports
: $682M, Rnk 29 / 203

2021
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Top Product
: $85M, Cars

2021
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Economic Complexity (ECI)
: ECI 1.82, Rnk 4 / 131

2021
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Economic Complexity (ECI)
: ECI 1.36, Rnk 14 / 131

2021
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GDP
: $1.8T, CURRENT US$
Rnk 10 / 182

2011-2021
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GDP GROWTH
: 43.5%, CURRENT US$
Rnk 64 / 182

2021
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 GDP
: $182B, CURRENT US$
Rnk 53 / 182

2011-2021
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GDP GROWTH
: 28.4%, CURRENT US$
Rnk 90 / 182

2021
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GDP PC 
: $34,758, CURRENT US$
Rnk 28 / 182

2011-2021
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GDP PC GROWTH
: 38.5%, CURRENT US$
Rnk 43 / 182

2021
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GDP PC
: $18,773, CURRENT US$
Rnk 45 / 182

2011-2021
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GDP PC GROWTH
: 31.8%, CURRENT US$
Rnk 56 / 182

South Korea-Hungary In 2021, South Korea exported $3.81B to Hungary. The main products that South Korea exported to Hungary are Machinery Having Individual Functions ($549M), Vaccines, blood, antisera, toxins and cultures ($295M), and Industrial Fatty Acids, Oils and Alcohols ($276M). During the last 26 years the exports of South Korea to Hungary have increased at an annualized rate of 12.1%, from $196M in 1995 to $3.81B in 2021.

In 2021, South Korea did not export any services to Hungary.

Hungary-South Korea In 2021, Hungary exported $682M to South Korea. The main products that Hungary exported to South Korea were Cars ($85M), Electric Batteries ($79.5M), and Motor vehicles; parts and accessories (8701 to 8705) ($48.1M). During the last 26 years the exports of Hungary to South Korea have increased at an annualized rate of 14.3%, from $21.3M in 1995 to $682M in 2021.

In 2020, Hungary exported services to South Korea worth $155M, with Travel ($84.9M), Royalties and license fees ($42.9M), and Other business services ($12.9M) being the largest in terms of value.

Comparison In 2021,  South Korea ranked 4 in the Economic Complexity Index (ECI 1.82), and 5 in total exports ($653B). That same year, Hungary ranked 14 in the Economic Complexity Index (ECI 1.36), and 35 in total exports ($137B).

Historical Data

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Bilateral Trade by Products

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Depth
Value

In 2021, South Korea exported $3.81B to Hungary. The main products exported from South Korea to Hungary were Machinery Having Individual Functions ($549M), Vaccines, blood, antisera, toxins and cultures ($295M), and Industrial Fatty Acids, Oils and Alcohols ($276M). During the last 26 years the exports of South Korea to Hungary have increased at an annualized rate of 12.1%, from $196M in 1995 to $3.81B in 2021.

In 2021, Hungary exported $682M to South Korea. The main products exported from Hungary to South Korea were Cars ($85M), Electric Batteries ($79.5M), and Motor vehicles; parts and accessories (8701 to 8705) ($48.1M). During the last 26 years the exports of Hungary to South Korea have increased at an annualized rate of 14.3%, from $21.3M in 1995 to $682M in 2021.

Market Competitiveness

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Color

South Korea
Top Destination
: China, $158B

Hungary
Top Destination
: Germany, $35.7B

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

In 2021, countries that imported more from South Korea than Hungary were China ($158B), United States ($95.9B), and Vietnam ($56.5B).

In 2021, countries that imported more from Hungary than South Korea were Germany ($35.7B), Romania ($7.25B), and Austria ($6.01B).

Comparative Advantage South Korea - Hungary

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Flow
Scale

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

During 2021, South Korea had a large net trade with Hungary in the exports of Machines ($1.77B), Chemical Products ($764M), and Plastics and Rubbers ($573M).

During 2021, Hungary had a large net trade with South Korea in the exports of Machines ($300M), Transportation ($134M), and Chemical Products ($55.1M).

Bilateral Service Trade

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In 2020, Hungary exported services to South Korea worth $155M, with Travel ($84.9M), Royalties and license fees ($42.9M), and Other business services ($12.9M) being the largest in terms of value.

Service trade data is presented based on availability.

Economic Complexity

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Competitive Landscape

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This visualization show the product space at the HS4 level colored from blue to yellow.  This mean that the more blue a dot/product is, the more South Korea has comparative advantage over Hungary. Similarly, the more yellow a dot/product is, the more Hungary has comparative advantage over South Korea.