Venezuela (VEN) and Hungary (HUN) Trade | The Observatory of Economic Complexity

About

Venezuela-Hungary Trade: In 2022, Venezuela exported $206k to Hungary. The main products that Venezuela exported to Hungary were Coconuts, Brazil Nuts, and Cashews ($202k), Office Machine Parts ($3.42k), and Integrated Circuits ($95). Over the past 5 years the exports of Venezuela to Hungary have increased at an annualized rate of 6.14%, from $153k in 2017 to $206k in 2022.

In 2022, Venezuela did not export any services to Hungary.

Hungary-Venezuela Trade: In 2022, Hungary exported $1.23M to Venezuela. The main products that Hungary exported to Venezuela were Other Nitrogen Compounds ($547k), Medical Instruments ($410k), and Other Edible Preparations ($60k). Over the past 5 years the exports of Hungary to Venezuela have decreased at an annualized rate of 15.3%, from $2.81M in 2017 to $1.23M in 2022.

In 2020, Hungary exported services to Venezuela worth $4.23M, with Travel ($4.23M) being the largest in terms of value.

Comparison: In 2022, Venezuela ranked 107 in the Economic Complexity Index (ECI -0.87), and 132 in total exports ($4.3B). 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 2022, Venezuela exported $206k to Hungary. The main products exported from Venezuela to Hungary were Coconuts, Brazil Nuts, and Cashews ($202k), Office Machine Parts ($3.42k), and Integrated Circuits ($95). During the last 5 years the exports of Venezuela to Hungary have increased at an annualized rate of 6.14%, from $153k in 2017 to $206k in 2022.

In 2017, Hungary exported $1.23M to Venezuela. The main products exported from Hungary to Venezuela were Other Nitrogen Compounds ($547k), Medical Instruments ($410k), and Other Edible Preparations ($60k). During the last 5 years the exports of Hungary to Venezuela have decreased at an annualized rate of 15.3%, from $2.81M in 2022 to $1.23M in 2017.

Exports from Venezuela () to Hungary () (2022)

Exports from Hungary () to Venezuela () (2022)

Latest Data

Trade between Venezuela () and Hungary ()

Hungary Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Venezuela
Top DestinationChina$703M

Hungary
Top DestinationGermany$35.5B

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

In 2022, countries that imported more from Venezuela than Hungary included Lebanon ($150M), Guatemala ($84.5M), and Dominican Republic ($76.7M).

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

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

Comparative Advantage Venezuela - Hungary

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Venezuela had a large net trade with Hungary in the exports of Vegetable Products ($202k), Machines ($3.52k), and Metals ($76).

During 2017, Hungary had a large net trade with Venezuela in the exports of Chemical Products ($633k), Instruments ($410k), and Machines ($77.6k).

Bilateral Service Trade

Hun Year

In 2020, Hungary exported services to Venezuela worth $4.23M, with Travel ($4.23M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Hungary () to Venezuela () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Year

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

About

Historical Data

Bilateral Trade by Products

Exports from Venezuela () to Hungary () (2022)

Exports from Hungary () to Venezuela () (2022)

Latest Data

Trade between Venezuela () and Hungary ()

Hungary Exports

Market Competitiveness

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

Comparative Advantage Venezuela - Hungary

Bilateral Service Trade

Services Exports from Hungary () to Venezuela () (2020)

Service Trade

Economic Complexity

Competitive Landscape

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

Keep Exploring