2022
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GDP
$2.24TCURRENT US$
Rnk 8 / 186
2012-2022
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GDP GROWTH
1.45%CURRENT US$
Rnk 164 / 186
2022
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 GDP
$179BCURRENT US$
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2012-2022
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GDP GROWTH
38.8%CURRENT US$
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2022
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GDP PC 
$15,345CURRENT US$
Rnk 63 / 186
2012-2022
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GDP PC GROWTH
-0.49%CURRENT US$
Rnk 145 / 186
2022
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GDP PC
$18,463CURRENT US$
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2012-2022
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GDP PC GROWTH
42.2%CURRENT US$
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About

Russia-Hungary Trade: In 2022, Russia exported $3.44B to Hungary. The main products that Russia exported to Hungary were Petroleum Gas ($5.58B), Crude Petroleum ($2.39B), and Nuclear Reactors ($94.5M). Over the past 5 years the exports of Russia to Hungary have increased at an annualized rate of 17%, from $1.57B in 2017 to $3.44B in 2022.

In 2020, Russia exported services to Hungary worth $163M, with Other business services ($83M), Construction services ($37.7M), and Transportation ($19.1M) being the largest in terms of value.

Hungary-Russia Trade: In 2022, Hungary exported $2.08B to Russia. The main products that Hungary exported to Russia were Packaged Medicaments ($253M), Toilet Paper ($139M), and Special Pharmaceuticals ($122M). Over the past 5 years the exports of Hungary to Russia have increased at an annualized rate of 21%,  from $803M in 2017 to $2.08B in 2022.

In 2020, Hungary exported services to Russia worth $111M, with Transportation ($46.1M), Travel ($34.8M), and Other business services ($11.9M) being the largest in terms of value.

Comparison: In 2022,  Russia ranked 47 in the Economic Complexity Index (ECI 0.43), and 12 in total exports ($486B). That same year, Hungary ranked 14 in the Economic Complexity Index (ECI 1.38), and 35 in total exports ($145B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Russia exported $3.44B to Hungary. The main products exported from Russia to Hungary were Petroleum Gas ($5.58B), Crude Petroleum ($2.39B), and Nuclear Reactors ($94.5M). During the last 5 years the exports of Russia to Hungary have increased at an annualized rate of 17%, from $1.57B in 2017 to $3.44B in 2022.

In 2017, Hungary exported $2.08B to Russia. The main products exported from Hungary to Russia were Packaged Medicaments ($253M), Toilet Paper ($139M), and Special Pharmaceuticals ($122M). During the last 22 years the exports of Hungary to Russia have increased at an annualized rate of 21%, from $803M in 1995 to $2.08B in 2017.

Exports from Russia (Flag) to Hungary (Flag) (2022)

Exports from Hungary (Flag) to Russia (Flag) (2022)

Market Competitiveness

Color
Russia
Top Destination
China$101B
Hungary
Top Destination
Germany$35.5B

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

In 2022, countries that imported more from Russia than Hungary included China ($101B), India ($40.4B), and Turkey ($25.3B).

In 2022, countries that imported more from Hungary than Russia included Germany ($35.5B), Austria ($6.32B), and Romania ($7.94B).

Difference in imports from Hungary (Flag) and Russia (Flag) (2022)

Comparative Advantage Russia - Hungary

Flow
Scale

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

During 2022, Russia had a large net trade with Hungary in the exports of Mineral Products ($8.02B), Chemical Products ($134M), and Machines ($114M).

During 2017, Hungary had a large net trade with Russia in the exports of Chemical Products ($583M), Machines ($196M), and Paper Goods ($143M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Russia Hungary+$197MCrude Petroleum
Top Product Potential Hungary Russia+$108MPackaged Medicaments

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, Russia exported services to Hungary worth $163M, with Other business services ($83M), Construction services ($37.7M), and Transportation ($19.1M) being the largest in terms of value.

In 2020, Hungary exported services to Russia worth $111M, with Transportation ($46.1M), Travel ($34.8M), and Other business services ($11.9M) being the largest in terms of value.

Service trade data is presented based on availability.

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

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

Service Trade

Economic Complexity

Competitive Landscape

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

Product Space of Russia (Flag) and Hungary (Flag) (2022)

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