South Africa (ZAF) and Hungary (HUN) Trade

South Africa-Hungary Trade: In 2023, South Africa exported $43.1M to Hungary. The main products that South Africa exported to Hungary were Tanned Equine and Bovine Hides ($16.6M), Broadcasting Equipment ($9.6M), and Other Leather Articles ($5.05M). Over the past 5 years the exports of South Africa to Hungary have decreased at an annualized rate of 13.9%, from $91.1M in 2018 to $43.1M in 2023.

In 2023, South Africa did not export any services to Hungary.

Hungary-South Africa Trade: In 2023, Hungary exported $316M to South Africa. The main products that Hungary exported to South Africa were Motor vehicles; parts and accessories (8701 to 8705) ($41.4M), Cars ($35.8M), and Computers ($24.3M). Over the past 5 years the exports of Hungary to South Africa have increased at an annualized rate of 3.29%, from $229M in 2018 to $316M in 2023.

In 2020, Hungary exported services to South Africa worth $16.6M, with Royalties and license fees ($8.11M), Other business services ($4.68M), and Transportation ($2.86M) being the largest in terms of value.

Comparison: In 2023, South Africa ranked 59 in the Economic Complexity Index (ECI 0.07), and 34 in total exports ($154B). That same year, Hungary ranked 14 in the Economic Complexity Index (ECI 1.41), and 35 in total exports ($150B).

Latest Trends

November, 2024

About

Overview In November 2024, South Africa exported ZAR31.4M and imported ZAR452M from Hungary, resulting in a negative trade balance of ZAR421M. Between November 2023 and November 2024 the exports of South Africa have decreased by ZAR-2.27M (-6.74%) from ZAR33.7M to ZAR31.4M, while imports decreased by ZAR-201M (-30.8%) from ZAR653M to ZAR452M.

Trade In November 2024, the top exports of South Africa to Hungary were Leather of Other Animals (ZAR7.29M), Other Leather Articles (ZAR4.23M), Motor vehicles; parts and accessories (8701... (ZAR844k), Air Pumps (ZAR474k), and Telephones (ZAR331k). In November 2024 the top imports of South Africa from Hungary were Commodities not elsewhere specified (ZAR123M), Motor vehicles; parts and accessories (8701... (ZAR47.9M), Cars (ZAR31.9M), Packaged Medicaments (ZAR18.4M), and Seats (ZAR16.3M).

Origins In November 2024 the exports of South Africa were mainly from Pretoria (ZAR20.9M), Johannesburg (ZAR4.27M), O.R. Tambo Int Airport (ZAR3.22M), Port Elizabeth (ZAR2.86M), and Cape Town Int Airport (ZAR81.3k), while imports destinations were mainly Port Elizabeth (ZAR135M), Durban (ZAR106M), O.R. Tambo Int Airport (ZAR97.8M), East London (ZAR45M), and Pretoria (ZAR36M).

Growth In November 2024, the decrease in South Africa's year-by-year exports to Hungary was explained primarily by an decrease in product exports in Leather of Other Animals (ZAR-10.3M or -58.6%) and Beauty Products (ZAR-12k or -97.5%). In November 2024, the decrease in South Africa's year-by-year imports from Hungary was explained primarily by an decrease in product imports in Cars (ZAR-114M or -78.1%), Computers (ZAR-53.1M or -81.5%), and Rubber Belting (ZAR-5.21M or -99.8%).

Latest Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Value

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

EXPORT GROWTH (November 2023 - November 2024)ZAR-2.27M(-6.74%)

IMPORT GROWTH (November 2023 - November 2024)ZAR-201M(-30.8%)

MAIN EXPORTER (November 2024)PretoriaZAR20.9M

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

To check Hungary and South Africa trade dynamics, check the bilateral page.

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Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, South Africa exported $43.1M to Hungary. The main products exported from South Africa to Hungary were Tanned Equine and Bovine Hides ($16.6M), Broadcasting Equipment ($9.6M), and Other Leather Articles ($5.05M). During the last 5 years the exports of South Africa to Hungary have decreased at an annualized rate of 13.9%, from $91.1M in 2018 to $43.1M in 2023.

In 2018, Hungary exported $316M to South Africa. The main products exported from Hungary to South Africa were Motor vehicles; parts and accessories (8701 to 8705) ($41.4M), Cars ($35.8M), and Computers ($24.3M). During the last 5 years the exports of Hungary to South Africa have increased at an annualized rate of 3.29%, from $229M in 2023 to $316M in 2018.

Exports from South Africa () to Hungary () (2023)

Exports from Hungary () to South Africa () (2023)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

South Africa
Top DestinationChina$29.5B

Hungary
Top DestinationGermany$37.4B

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

In 2023, countries that imported more from South Africa than Hungary included China ($29.5B), India ($10.8B), and Japan ($7.34B).

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

Difference in imports from Hungary () and South Africa () (2023)

Comparative Advantage South Africa - Hungary

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, South Africa had a large net trade with Hungary in the exports of Animal Hides ($21.8M), Machines ($13.3M), and Vegetable Products ($2.29M).

During 2018, Hungary had a large net trade with South Africa in the exports of Machines ($133M), Transportation ($81.1M), and Chemical Products ($20.2M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential South Africa Hungary+$9.17MDelivery Trucks

Top Product Potential Hungary South Africa+$41.2MCars

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

Hun Year

Service trade data is presented based on availability.

Services Exports from Hungary () to South Africa () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Year

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

Product Space of South Africa () and Hungary () (2023)

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