Norway (NOR) and Hungary (HUN) Trade | OEC - The Observatory of Economic Complexity

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Norway-Hungary In 2021, Norway exported $59.6M to Hungary. The main products that Norway exported to Hungary are Raw Aluminium ($17.6M), Broadcasting Equipment ($7.34M), and Glass Fibers ($2.39M). During the last 26 years the exports of Norway to Hungary have increased at an annualized rate of 3.33%, from $25.4M in 1995 to $59.6M in 2021.

In 2009, Norway exported services to Hungary worth $19.3M, with Travel ($8.15M), Communications services ($5.59M), and Other business services ($2.88M) being the largest in terms of value.

Hungary-Norway In 2021, Hungary exported $422M to Norway. The main products that Hungary exported to Norway were Video Displays ($31.3M), Cars ($29.1M), and Computers ($23.7M). During the last 26 years the exports of Hungary to Norway have increased at an annualized rate of 9.45%, from $40.3M in 1995 to $422M in 2021.

In 2020, Hungary exported services to Norway worth $107M, with Computer and information services ($44.7M), Transportation ($24.3M), and Travel ($19.3M) being the largest in terms of value.

Comparison In 2021, Norway ranked 38 in the Economic Complexity Index (ECI 0.69), and 33 in total exports ($164B). That same year, Hungary ranked 14 in the Economic Complexity Index (ECI 1.36), and 35 in total exports ($137B).

Latest Trends

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March, 2023

About

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Overview In March 2023, Norway exported NOK182M and imported NOK529M from Hungary, resulting in a negative trade balance of NOK347M. Between March 2022 and March 2023 the exports of Norway have increased by NOK72.3M (65.9%) from NOK110M to NOK182M, while imports increased by NOK65.5M (14.1%) from NOK464M to NOK529M.

Trade In March 2023, the top exports of Norway to Hungary were Non-ferrous metals (NOK38.2M), Inorganic chemicals (NOK17.8M), Telecommunications and sound-recording and reproducing apparatus... (NOK11.9M), Plastics in primary forms (NOK4.99M), and Miscellaneous manufactured articles, n.e.s. (NOK4.03M). In March 2023 the top imports of Norway from Hungary were Telecommunications and sound-recording and reproducing apparatus... (NOK95.8M), Electrical machinery, apparatus and appliances, n.e.s.,... (NOK39.2M), Road vehicles (including air-cushion vehicles) (NOK24.8M), Feeding stuff for animals (not including... (NOK20.4M), and Photographic apparatus, equipment and supplies and... (NOK16.8M).

Growth In March 2023, the increase in Norway's year-by-year exports to Hungary was explained primarily by an increase in product exports in Non-ferrous metals (NOK24.3M or 175%), Plastics in primary forms (NOK4.48M or 879%), and Miscellaneous manufactured articles, n.e.s. (NOK3.86M or 2.2k%). In March 2023, the increase in Norway's year-by-year imports from Hungary was explained primarily by an increase in product imports in Telecommunications and sound-recording and reproducing apparatus... (NOK25.9M or 37%), Road vehicles (including air-cushion vehicles) (NOK17.1M or 223%), and Manufactures of metals, n.e.s. (NOK8.15M or 110%).

Latest Trade

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Flow

Time Scale

Value

EXPORT GROWTH (March 2022 - March 2023): NOK72.3M, (65.9%)

IMPORT GROWTH (March 2022 - March 2023): NOK65.5M, (14.1%)

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

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

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Historical Data

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Bilateral Trade by Products

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Depth

Value

Year

In 2021, Norway exported $59.6M to Hungary. The main products exported from Norway to Hungary were Raw Aluminium ($17.6M), Broadcasting Equipment ($7.34M), and Glass Fibers ($2.39M). During the last 26 years the exports of Norway to Hungary have increased at an annualized rate of 3.33%, from $25.4M in 1995 to $59.6M in 2021.

In 2021, Hungary exported $422M to Norway. The main products exported from Hungary to Norway were Video Displays ($31.3M), Cars ($29.1M), and Computers ($23.7M). During the last 26 years the exports of Hungary to Norway have increased at an annualized rate of 9.45%, from $40.3M in 1995 to $422M in 2021.

Market Competitiveness

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Color

SectionYear

Norway
Top Destination: United Kingdom, $33.5B

Hungary
Top Destination: Germany, $35.7B

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

In 2021, countries that imported more from Norway than Hungary were United Kingdom ($33.5B), Sweden ($13.7B), and Netherlands ($12.2B).

In 2021, countries that imported more from Hungary than Norway were Romania ($7.25B), Slovakia ($6.42B), and Austria ($6.01B).

Comparative Advantage Norway - Hungary

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Flow

Scale

Year

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

During 2021, Norway had a large net trade with Hungary in the exports of Metals ($23.4M), Machines ($17.7M), and Transportation ($3.19M).

During 2021, Hungary had a large net trade with Norway in the exports of Machines ($168M), Foodstuffs ($67.5M), and Transportation ($46.8M).

Service Trade

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Bilateral Service Trade

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Hun YearNor Year

In 2009, Norway exported services to Hungary worth $19.3M, with Travel ($8.15M), Communications services ($5.59M), and Other business services ($2.88M) being the largest in terms of value.

In 2020, Hungary exported services to Norway worth $107M, with Computer and information services ($44.7M), Transportation ($24.3M), and Travel ($19.3M) 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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Year

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 Norway has comparative advantage over Hungary. Similarly, the more yellow a dot/product is, the more Hungary has comparative advantage over Norway.

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Latest Trends

About

Latest Trade

Historical Data

Bilateral Trade by Products

Market Competitiveness

Comparative Advantage Norway - Hungary

Service Trade

Bilateral Service Trade

Economic Complexity

Competitive Landscape

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