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2023
Flag → Flag
Exports $173MRnk 32 / 201
2023
Flag → Flag
Top Product $77.9MIntegrated Circuits
2023
Flag → Flag
Exports $46.8MRnk 79 / 201
2023
Flag → Flag
Top Product $7.06MCars
2023
Flag
Economic Complexity (ECI) ECI 0.64Rnk 40 / 132
2023
Flag
Economic Complexity (ECI) ECI 1.41Rnk 14 / 132
2023
Flag  
GDP$437BCURRENT US$
Rnk 33 / 195
2013-2023
Flag
GDP GROWTH54%CURRENT US$
Rnk 67 / 195
2023
Flag
 GDP$212BCURRENT US$
Rnk 56 / 195
2013-2023
Flag
GDP GROWTH56.5%CURRENT US$
Rnk 60 / 195
2023
Flag
GDP PC $3,805CURRENT US$
Rnk 133 / 195
2013-2023
Flag
GDP PC GROWTH36.8%CURRENT US$
Rnk 65 / 195
2023
Flag
GDP PC$22,142CURRENT US$
Rnk 58 / 196
2013-2023
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GDP PC GROWTH61.4%CURRENT US$
Rnk 29 / 195

About

Philippines-Hungary Trade: In 2023, Philippines exported $173M to Hungary. The main products that Philippines exported to Hungary were Integrated Circuits ($77.9M), Office Machine Parts ($47.2M), and Optical Fibers and optical fibre bundles ($7.32M). Over the past 5 years the exports of Philippines to Hungary have decreased at an annualized rate of 6.36%, from $240M in 2018 to $173M in 2023.

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

Hungary-Philippines Trade: In 2023, Hungary exported $46.8M to Philippines. The main products that Hungary exported to Philippines were Cars ($7.06M), Seed Oils ($5.18M), and Tobacco Processing Machines ($3.24M). Over the past 5 years the exports of Hungary to Philippines have decreased at an annualized rate of 7.98%,  from $70.9M in 2018 to $46.8M in 2023.

In 2020, Hungary exported services to Philippines worth $54.7M, with Computer and information services ($44.8M), Royalties and license fees ($8.57M), and Other business services ($800k) being the largest in terms of value.

Comparison: In 2023,  Philippines ranked 40 in the Economic Complexity Index (ECI 0.64), and 42 in total exports ($101B). That same year, Hungary ranked 14 in the Economic Complexity Index (ECI 1.41), and 35 in total exports ($150B).

Latest Trends

July, 2024

About

Overview In July 2024, Philippines exported $8.22M and imported $3.22M from Hungary, resulting in a positive trade balance of $5M. Between July 2023 and July 2024 the exports of Philippines have decreased by $-1.81M (-18.1%) from $10M to $8.22M, while imports decreased by $-304k (-8.63%) from $3.52M to $3.22M.

Trade In July 2024, the top exports of Philippines to Hungary were Integrated Circuits ($4.12M), Optical Fibers and optical fibre bundles ($1.1M), Commodities not elsewhere specified ($1.03M), Computers ($856k), and Printed Circuit Boards ($510k). In July 2024 the top imports of Philippines from Hungary were Seed Oils ($942k), Computers ($589k), Calculators ($542k), Other Edible Preparations ($172k), and Pesticides ($162k).

Growth In July 2024, the decrease in Philippines's year-by-year exports to Hungary was explained primarily by an decrease in product exports in Integrated Circuits ($-3.45M or -45.6%), Computers ($-2.84M or -76.8%), and Other Office Machines ($-1.38M or -88.6%). In July 2024, the decrease in Philippines's year-by-year imports  from Hungary was explained primarily by an decrease in product imports  in Commodities not elsewhere specified ($-232k or -83.4%), Packaged Medicaments ($-106k or -76%), and Excavation Machinery ($-47.8k or -81.4%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (July 2023 - July 2024)$-1.81M(-18.1%)
IMPORT GROWTH (July 2023 - July 2024)$-304k(-8.63%)

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

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

For full datasets download visit Bulk Download page.

Explore Hungary and Philippines Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Philippines exported $173M to Hungary. The main products exported from Philippines to Hungary were Integrated Circuits ($77.9M), Office Machine Parts ($47.2M), and Optical Fibers and optical fibre bundles ($7.32M). During the last 5 years the exports of Philippines to Hungary have decreased at an annualized rate of 6.36%, from $240M in 2018 to $173M in 2023.

In 2018, Hungary exported $46.8M to Philippines. The main products exported from Hungary to Philippines were Cars ($7.06M), Seed Oils ($5.18M), and Tobacco Processing Machines ($3.24M). During the last 5 years the exports of Hungary to Philippines have decreased at an annualized rate of 7.98%, from $70.9M in 2023 to $46.8M in 2018.

Exports from Philippines (Flag) to Hungary (Flag) (2023)

Exports from Hungary (Flag) to Philippines (Flag) (2023)

Market Competitiveness

Color
Philippines
Top DestinationChina$19B
Hungary
Top DestinationGermany$37.4B

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

In 2023, countries that imported more from Philippines than Hungary included China ($19B), Hong Kong ($11.7B), and Japan ($11.4B).

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

Difference in imports from Hungary (Flag) and Philippines (Flag) (2023)

Comparative Advantage Philippines - Hungary

Flow
Scale

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

During 2023, Philippines had a large net trade with Hungary in the exports of Machines ($148M), Instruments ($18.7M), and Plastics and Rubbers ($2.61M).

During 2018, Hungary had a large net trade with Philippines in the exports of Machines ($17.7M), Transportation ($7.49M), and Chemical Products ($5.62M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Philippines Hungary+$81.6MIntegrated Circuits
Top Product Potential Hungary Philippines+$10.8MTelephones

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

In 2020, Hungary exported services to Philippines worth $54.7M, with Computer and information services ($44.8M), Royalties and license fees ($8.57M), and Other business services ($800k) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Hungary (Flag) to Philippines (Flag) (2020)

Service Trade

Economic Complexity

Competitive Landscape

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

Product Space of Philippines (Flag) and Hungary (Flag) (2023)

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