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2022
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Exports $866MRnk 35 / 217
2022
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Top Product $76.4MPackaged Medicaments
2022
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Exports $1.74BRnk 21 / 205
2022
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Top Product $254MVideo Displays
2022
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Economic Complexity (ECI) ECI 1.5Rnk 7 / 124
2022
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Economic Complexity (ECI) ECI 1.36Rnk 13 / 124
2022
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GDP$586BCURRENT US$
Rnk 23 / 186
2012-2022
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GDP GROWTH6.06%CURRENT US$
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2022
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 GDP$179BCURRENT US$
Rnk 57 / 186
2012-2022
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GDP GROWTH38.8%CURRENT US$
Rnk 86 / 186
2022
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GDP PC $55,873CURRENT US$
Rnk 13 / 186
2012-2022
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GDP PC GROWTH-3.73%CURRENT US$
Rnk 149 / 186
2022
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GDP PC$18,463CURRENT US$
Rnk 55 / 186
2012-2022
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GDP PC GROWTH42.2%CURRENT US$
Rnk 44 / 186

About

Sweden-Hungary In 2022, Sweden exported $866M to Hungary. The main products that Sweden exported to Hungary are Packaged Medicaments ($76.4M), Cars ($57.6M), and Kaolin Coated Paper ($44.1M). During the last 27 years the exports of Sweden to Hungary have increased at an annualized rate of 3.73%, from $322M in 1995 to $866M in 2022.

In 2020, Sweden exported services to Hungary worth $162M, with Other business services ($49.5M), Transportation ($29.1M), and Computer and information services ($28.2M) being the largest in terms of value.

Hungary-Sweden In 2022, Hungary exported $1.74B to Sweden. The main products that Hungary exported to Sweden were Video Displays ($254M), Motor vehicles; parts and accessories (8701 to 8705) ($218M), and Insulated Wire ($79.1M). During the last 27 years the exports of Hungary to Sweden have increased at an annualized rate of 9.56%, from $148M in 1995 to $1.74B in 2022.

In 2020, Hungary exported services to Sweden worth $359M, with Other business services ($187M), Computer and information services ($67.7M), and Transportation ($62.2M) being the largest in terms of value.

Comparison In 2022,  Sweden ranked 7 in the Economic Complexity Index (ECI 1.5), and 33 in total exports ($194B). That same year, Hungary ranked 13 in the Economic Complexity Index (ECI 1.36), and 35 in total exports ($145B).

Latest Trends

December, 2023

About

Overview In December 2023, Sweden exported SEK488M and imported SEK1.25B from Hungary, resulting in a negative trade balance of SEK760M. Between December 2022 and December 2023 the exports of Sweden have increased by SEK15.2M (3.21%) from SEK473M to SEK488M, while imports increased by SEK71.7M (6.1%) from SEK1.18B to SEK1.25B.

Trade In December 2023, the top exports of Sweden to Hungary were Packaged Medicaments (SEK102M), Cars (SEK49M), Soil Preparation Machinery (SEK44.5M), Kaolin Coated Paper (SEK37.5M), and Insulated Wire (SEK29.2M). In December 2023 the top imports of Sweden from Hungary were Motor vehicles; parts and accessories (8701... (SEK270M), Computers (SEK144M), Video Displays (SEK123M), Refrigerators (SEK86.7M), and Air Pumps (SEK71.7M).

Growth In December 2023, the increase in Sweden's year-by-year exports to Hungary was explained primarily by an increase in product exports in Soil Preparation Machinery (SEK30.8M or 224%), Packaged Medicaments (SEK30.6M or 42.9%), and Washing and Bottling Machines (SEK19.8M or 2.15k%). In December 2023, the increase in Sweden's year-by-year imports  from Hungary was explained primarily by an increase in product imports  in Computers (SEK131M or 1k%), Motor vehicles; parts and accessories (8701... (SEK33.9M or 14.4%), and Refrigerators (SEK26.8M or 44.7%).

Latest Trade

Flow
Time Scale
Depth
Value
EXPORT GROWTH (December 2022 - December 2023)SEK15.2M(3.21%)
IMPORT GROWTH (December 2022 - December 2023)SEK71.7M(6.1%)

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

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

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Sweden exported $866M to Hungary. The main products exported from Sweden to Hungary were Packaged Medicaments ($76.4M), Cars ($57.6M), and Kaolin Coated Paper ($44.1M). During the last 27 years the exports of Sweden to Hungary have increased at an annualized rate of 3.73%, from $322M in 1995 to $866M in 2022.

In 2022, Hungary exported $1.74B to Sweden. The main products exported from Hungary to Sweden were Video Displays ($254M), Motor vehicles; parts and accessories (8701 to 8705) ($218M), and Insulated Wire ($79.1M). During the last 27 years the exports of Hungary to Sweden have increased at an annualized rate of 9.56%, from $148M in 1995 to $1.74B in 2022.

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

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

Market Competitiveness

Color
Sweden
Top DestinationGermany$19.2B
Hungary
Top DestinationGermany$35.5B

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

In 2021, countries that imported more from Sweden than Hungary were Norway ($18.7B), Denmark ($14.6B), and Finland ($13.4B).

In 2021, countries that imported more from Hungary than Sweden were Germany ($35.5B), Romania ($7.94B), and Slovakia ($6.78B).

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

Comparative Advantage Sweden - Hungary

Flow
Scale

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

During 2022, Sweden had a large net trade with Hungary in the exports of Machines ($239M), Paper Goods ($128M), and Chemical Products ($116M).

During 2022, Hungary had a large net trade with Sweden in the exports of Machines ($1.09B), Transportation ($271M), and Foodstuffs ($69.8M).

Service Trade

Bilateral Service Trade

In 2020, Sweden exported services to Hungary worth $162M, with Other business services ($49.5M), Transportation ($29.1M), and Computer and information services ($28.2M) being the largest in terms of value.

In 2020, Hungary exported services to Sweden worth $359M, with Other business services ($187M), Computer and information services ($67.7M), and Transportation ($62.2M) being the largest in terms of value.

Service trade data is presented based on availability.

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

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

Economic Complexity

Competitive Landscape

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

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

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