Somalia (SOM) and Hungary (HUN) Trade | The Observatory of Economic Complexity

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Somalia-Hungary Trade: In 2021, Somalia exported $9.83k to Hungary. The main products that Somalia exported to Hungary were N/A. Over the past 18 years the exports of Somalia to Hungary have increased at an annualized rate of 6.81%, from $3k in 2003 to $9.83k in 2021.

In 2021, Somalia did not export any services to Hungary.

Hungary-Somalia Trade: In 2021, Hungary exported $1.55M to Somalia. The main products that Hungary exported to Somalia were Cars ($679k), Used Clothing ($487k), and Other Plastic Products ($308k). Over the past 18 years the exports of Hungary to Somalia have increased at an annualized rate of 89.4%, from $63.5k in 2003 to $1.55M in 2021.

In 2021, Hungary did not export any services to Somalia.

Comparison In 2022, Somalia ranked 167 in total exports ($569M), and does not have data regarding Economic Complexity Index. 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

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2021, Somalia exported $9.83k to Hungary. There were not main exports from Somalia to Hungary in 2021. During the last 18 years the exports of Somalia to Hungary have increased at an annualized rate of 6.81%, from $3k in 2003 to $9.83k in 2021.

In 2017, Hungary exported $1.55M to Somalia. The main products exported from Hungary to Somalia were Cars ($679k), Used Clothing ($487k), and Other Plastic Products ($308k). During the last 5 years the exports of Hungary to Somalia have increased at an annualized rate of 89.4%, from $63.5k in 2022 to $1.55M in 2017.

Exports from Somalia () to Hungary () (2022)

Exports from Hungary () to Somalia () (2022)

Latest Data

Trade between Somalia () and Hungary ()

Hungary Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Somalia
Top DestinationUnited Arab Emirates$283M

Hungary
Top DestinationGermany$35.5B

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

In 2022, countries that imported more from Somalia than Hungary included Oman ($173M).

In 2022, countries that imported more from Hungary than Somalia included Germany ($35.5B), Italy ($8.02B), and Romania ($7.94B).

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

Comparative Advantage Somalia - Hungary

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2021, Somalia had a large net trade with Hungary in the exports of .

During 2017, Hungary had a large net trade with Somalia in the exports of Transportation ($717k), Textiles ($488k), and Plastics and Rubbers ($310k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Somalia Hungary+$2.97kGold

Top Product Potential Hungary Somalia+$1.09MCars

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

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Historical Data

Bilateral Trade by Products

Exports from Somalia () to Hungary () (2022)

Exports from Hungary () to Somalia () (2022)

Latest Data

Trade between Somalia () and Hungary ()

Hungary Exports

Market Competitiveness

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

Comparative Advantage Somalia - Hungary

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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