Netherlands (NLD) and Hungary (HUN) Trade

2022

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Exports $4.59BRnk 20 / 224

2022

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About

Netherlands-Hungary Trade: In 2022, Netherlands exported $4.59B to Hungary. The main products that Netherlands exported to Hungary were Office Machine Parts ($451M), Vaccines, blood, antisera, toxins and cultures ($332M), and Packaged Medicaments ($302M). Over the past 5 years the exports of Netherlands to Hungary have increased at an annualized rate of 54.7%, from $518M in 2017 to $4.59B in 2022.

In 2020, Netherlands exported services to Hungary worth $995M, with Other business services ($461M), Transportation ($217M), and Royalties and license fees ($156M) being the largest in terms of value.

Hungary-Netherlands Trade: In 2022, Hungary exported $3.85B to Netherlands. The main products that Hungary exported to Netherlands were Computers ($740M), Office Machine Parts ($427M), and Cars ($365M). Over the past 5 years the exports of Hungary to Netherlands have increased at an annualized rate of 56.1%, from $415M in 2017 to $3.85B in 2022.

In 2020, Hungary exported services to Netherlands worth $840M, with Other business services ($345M), Transportation ($276M), and Royalties and license fees ($72.4M) being the largest in terms of value.

Comparison: In 2022, Netherlands ranked 23 in the Economic Complexity Index (ECI 1.11), and 6 in total exports ($674B). That same year, Hungary ranked 14 in the Economic Complexity Index (ECI 1.38), and 35 in total exports ($145B).

Latest Trends

October, 2022

About

Overview In October 2022, Netherlands exported €370M and imported €462M from Hungary, resulting in a negative trade balance of €92M. Between October 2021 and October 2022 the exports of Netherlands have decreased by €-58M (-13.6%) from €428M to €370M, while imports increased by €154M (50%) from €308M to €462M.

Trade In October 2022, the top exports of Netherlands to Hungary were Thermionic, cold cathode or photo-cathode valves... (€56M), Telecommunications equipment, n.e.s., and parts, n.e.s.,... (€19M), Office machines (€9M), Pumps (other than pumps for liquids),... (€8M), and Road motor vehicles, n.e.s. (€8M). In October 2022 the top imports of Netherlands from Hungary were Automatic data-processing machines and units thereof;... (€41M), Telecommunications equipment, n.e.s., and parts, n.e.s.,... (€29M), Television receivers (including video monitors and... (€20M), Rubber tyres, interchangeable tyre treads, tyre... (€16M), and Medicinal and pharmaceutical products, other than... (€15M).

Growth In October 2022, the decrease in Netherlands's year-by-year exports to Hungary was explained primarily by an decrease in product exports in Telecommunications equipment, n.e.s., and parts, n.e.s.,... (€-11M or -36.7%), Office machines (€-5M or -35.7%), and Road motor vehicles, n.e.s. (€-4M or -33.3%). In October 2022, the increase in Netherlands's year-by-year imports from Hungary was explained primarily by an increase in product imports in Medicaments (including veterinary medicaments) (€6M or 85.7%), Motor cars and other motor vehicles... (€6M or 300%), and Television receivers (including video monitors and... (€5M or 33.3%).

Latest Trade

Flow

Exports

Imports

Time Scale

Year

Quarter

Month

Value

Trade Value

Growth

Growth (%)

EXPORT GROWTH (October 2021 - October 2022)€-58M(-13.6%)

IMPORT GROWTH (October 2021 - October 2022)€154M(50%)

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

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

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Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Netherlands exported $4.59B to Hungary. The main products exported from Netherlands to Hungary were Office Machine Parts ($451M), Vaccines, blood, antisera, toxins and cultures ($332M), and Packaged Medicaments ($302M). During the last 5 years the exports of Netherlands to Hungary have increased at an annualized rate of 54.7%, from $518M in 2017 to $4.59B in 2022.

In 2017, Hungary exported $3.85B to Netherlands. The main products exported from Hungary to Netherlands were Computers ($740M), Office Machine Parts ($427M), and Cars ($365M). During the last 22 years the exports of Hungary to Netherlands have increased at an annualized rate of 56.1%, from $415M in 1995 to $3.85B in 2017.

Exports from Netherlands () to Hungary () (2022)

Exports from Hungary () to Netherlands () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Netherlands
Top DestinationGermany$131B

Hungary
Top DestinationGermany$35.5B

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

In 2022, countries that imported more from Netherlands than Hungary included Germany ($131B), Belgium ($94.3B), and France ($59.9B).

In 2022, countries that imported more from Hungary than Netherlands included Slovakia ($6.78B), Romania ($7.94B), and Serbia ($3.42B).

Difference in imports from Hungary () and Netherlands () (2022)

Comparative Advantage Netherlands - Hungary

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Netherlands had a large net trade with Hungary in the exports of Machines ($2.21B), Chemical Products ($1.18B), and Metals ($544M).

During 2017, Hungary had a large net trade with Netherlands in the exports of Machines ($2.97B), Transportation ($596M), and Plastics and Rubbers ($312M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Netherlands Hungary+$67MRefined Petroleum

Top Product Potential Hungary Netherlands+$139MCars

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

Hun Year

Nld Year

Service trade data is presented based on availability.

Services Exports from Netherlands () to Hungary () (2020)

Services Exports from Hungary () to Netherlands () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Year

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

Product Space of Netherlands () and Hungary () (2022)

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