Flag South Korea / Hungary Flag

2020
FlagFlag
Exports
: $3.25B, Rnk 28 / 218

2020
FlagFlag
Top Product
: $513M, Human blood; animal blood for therapeutic, prophylactic or diagnostic uses; antisera, other blood fractions, immunological products, modified or obtained by biotechnological processes; vaccines, toxins, cultures of micro-organisms (excluding yeasts) etc

2020
FlagFlag
Exports
: $608M, Rnk 27 / 205

2020
FlagFlag
Top Product
: $140M, Motor cars and other motor vehicles; principally designed for the transport of persons (other than those of heading no. 8702), including station wagons and racing cars

2020
Flag
Economic Complexity (ECI)
: ECI 1.88, Rnk 5 / 127

2020
Flag
Economic Complexity (ECI)
: ECI 1.4, Rnk 14 / 127

2020
Flag  
GDP
: $1.64T, CURRENT US$
Rnk 10 / 195

2010-2020
Flag
GDP GROWTH
: 43.2%, CURRENT US$
Rnk 69 / 195

2020
Flag
 GDP
: $156B, CURRENT US$
Rnk 54 / 195

2010-2020
Flag
GDP GROWTH
: 17.8%, CURRENT US$
Rnk 122 / 195

2020
Flag
GDP PC 
: $31,631, CURRENT US$
Rnk 32 / 195

2010-2020
Flag
GDP PC GROWTH
: 37%, CURRENT US$
Rnk 45 / 195

2020
Flag
GDP PC
: $15,981, CURRENT US$
Rnk 52 / 195

2010-2020
Flag
GDP PC GROWTH
: 20.9%, CURRENT US$
Rnk 86 / 195

South Korea-Hungary In 2020, South Korea exported $3.25B to Hungary. The main products that South Korea exported to Hungary are Human blood; animal blood for therapeutic, prophylactic or diagnostic uses; antisera, other blood fractions, immunological products, modified or obtained by biotechnological processes; vaccines, toxins, cultures of micro-organisms (excluding yeasts) etc ($513M), Salts of oxometallic or peroxometallic acids ($333M), and Machinery and mechanical appliances; having individual functions, n.e.c. in this chapter ($298M). During the last 25 years the exports of South Korea to Hungary have increased at an annualized rate of 11.9%, from $196M in 1995 to $3.25B in 2020.

In 2020, South Korea did not export any services to Hungary.

Hungary-South Korea In 2020, Hungary exported $608M to South Korea . The main products that Hungary exported to South Korea were Motor cars and other motor vehicles; principally designed for the transport of persons (other than those of heading no. 8702), including station wagons and racing cars ($140M), Electric accumulators, including separators therefor; whether or not rectangular (including square) ($49M), and Motor vehicles; parts and accessories, of heading no. 8701 to 8705 ($39.2M). During the last 25 years the exports of Hungary to South Korea have increased at an annualized rate of 14.3%, from $21.3M in 1995 to $608M in 2020.

In 2018, Hungary exported services to South Korea worth $326M, with Royalties and license fees ($293M), Other business services ($23M), and Transportation ($6.26M) being the largest in terms of value.

Comparison In 2020,  South Korea ranked 5 in the Economic Complexity Index (ECI 1.88), and 5 in total exports ($531B). That same year, Hungary ranked 14 in the Economic Complexity Index (ECI 1.4), and 34 in total exports ($118B).

Historical Data

#permalink to section

Bilateral Trade by Products

#permalink to section
Depth
Value
Compare to

In 2020, South Korea exported $3.25B to Hungary. The main products exported from South Korea to Hungary were Human blood; animal blood for therapeutic, prophylactic or diagnostic uses; antisera, other blood fractions, immunological products, modified or obtained by biotechnological processes; vaccines, toxins, cultures of micro-organisms (excluding yeasts) etc ($513M), Salts of oxometallic or peroxometallic acids ($333M), and Machinery and mechanical appliances; having individual functions, n.e.c. in this chapter ($298M). During the last 25 years the exports of South Korea to Hungary have increased at an annualized rate of 11.9%, from $196M in 1995 to $3.25B in 2020.

In 2020, Hungary exported $608M to South Korea. The main products exported from Hungary to South Korea were Motor cars and other motor vehicles; principally designed for the transport of persons (other than those of heading no. 8702), including station wagons and racing cars ($140M), Electric accumulators, including separators therefor; whether or not rectangular (including square) ($49M), and Motor vehicles; parts and accessories, of heading no. 8701 to 8705 ($39.2M). During the last 25 years the exports of Hungary to South Korea have increased at an annualized rate of 14.3%, from $21.3M in 1995 to $608M in 2020.

Market Competitiveness

#permalink to section
Measure

South Korea
Top Destination
: China, $131B

Hungary
Top Destination
: Germany, $31.4B

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 2019, countries that imported more from South Korea than Hungary were China ($131B), United States ($75B), and Vietnam ($48B).

In 2019, countries that imported more from Hungary than South Korea were Germany ($31.4B), Romania ($6.28B), and Austria ($4.94B).

Comparative Advantage South Korea - Hungary

#permalink to section
Flow

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

During 2020, South Korea had a large net trade with Hungary in the exports of Machines ($1.35B), Chemical Products ($1.07B), and Plastics and Rubbers ($333M).

During 2020, Hungary had a large net trade with South Korea in the exports of Machines ($233M), Transportation ($180M), and Instruments ($38.5M).

Bilateral Service Trade

#permalink to section

In 2018, Hungary exported services to South Korea worth $326M, with Royalties and license fees ($293M), Other business services ($23M), and Transportation ($6.26M) being the largest in terms of value.

Service trade data is presented based on availability.

Economic Complexity

#permalink to section

Competitive Landscape

#permalink to section

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.