Madagascar (MDG) and Hungary (HUN) Trade | The Observatory of Economic Complexity

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Madagascar-Hungary Trade: In 2023, Madagascar exported $2.08M to Hungary. The main products that Madagascar exported to Hungary were Non-Knit Men's Suits ($1.05M), Precious Stones ($296k), and Non-Knit Active Wear ($263k). Over the past 5 years the exports of Madagascar to Hungary have increased at an annualized rate of 51.4%, from $262k in 2018 to $2.08M in 2023.

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

Hungary-Madagascar Trade: In 2023, Hungary exported $693k to Madagascar. The main products that Hungary exported to Madagascar were Packaged Medicaments ($278k), Dried Legumes ($64.9k), and Other Nitrogen Compounds ($48.2k). Over the past 5 years the exports of Hungary to Madagascar have decreased at an annualized rate of 7.42%, from $1.02M in 2018 to $693k in 2023.

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

Comparison: In 2023, Madagascar ranked 117 in the Economic Complexity Index (ECI -1.15), and 133 in total exports ($4.3B). 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, Madagascar exported $2.08M to Hungary. The main products exported from Madagascar to Hungary were Non-Knit Men's Suits ($1.05M), Precious Stones ($296k), and Non-Knit Active Wear ($263k). During the last 5 years the exports of Madagascar to Hungary have increased at an annualized rate of 51.4%, from $262k in 2018 to $2.08M in 2023.

In 2018, Hungary exported $693k to Madagascar. The main products exported from Hungary to Madagascar were Packaged Medicaments ($278k), Dried Legumes ($64.9k), and Other Nitrogen Compounds ($48.2k). During the last 5 years the exports of Hungary to Madagascar have decreased at an annualized rate of 7.42%, from $1.02M in 2023 to $693k in 2018.

Exports from Madagascar () to Hungary () (2023)

Exports from Hungary () to Madagascar () (2023)

Latest Data

Trade between Madagascar () and Hungary ()

Madagascar Exports

Date

Hungary Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Madagascar
Top DestinationUnited States$669M

Hungary
Top DestinationGermany$37.4B

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

In 2023, countries that imported more from Madagascar than Hungary included Indonesia ($165M), Mauritius ($46.5M), and Comoros ($7.69M).

In 2023, countries that imported more from Hungary than Madagascar included Germany ($37.4B), Italy ($9.08B), and Romania ($8.43B).

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

Comparative Advantage Madagascar - Hungary

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Madagascar had a large net trade with Hungary in the exports of Textiles ($1.44M), Precious Metals ($296k), and Stone And Glass ($235k).

During 2018, Hungary had a large net trade with Madagascar in the exports of Chemical Products ($375k), Machines ($123k), and Vegetable Products ($65.2k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Madagascar Hungary+$216kTelephones

Top Product Potential Hungary Madagascar+$246kVaccines, blood, antisera, toxins and cultures

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 Madagascar and Hungary. This means that a dot/product with the flag of Madagascar indicates it has a comparative advantage over Hungary. Similarly, a dot/product with the flag of Hungary indicates it has a comparative advantage over Madagascar.

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Historical Data

Bilateral Trade by Products

Exports from Madagascar () to Hungary () (2023)

Exports from Hungary () to Madagascar () (2023)

Latest Data

Trade between Madagascar () and Hungary ()

Madagascar Exports

Hungary Exports

Market Competitiveness

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

Comparative Advantage Madagascar - Hungary

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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