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Pricing

2022
Flag → Flag
Exports $53.6MRnk 83 / 213
2022
Flag → Flag
Top Product $11.1MUnpackaged Medicaments
2022
Flag → Flag
Exports $762MRnk 27 / 205
2022
Flag → Flag
Top Product $278MCars
2022
Flag
Economic Complexity (ECI) ECI -0.24Rnk 78 / 133
2022
Flag
Economic Complexity (ECI) ECI 1.38Rnk 14 / 133
2022
Flag  
GDP$1.68TCURRENT US$
Rnk 12 / 186
2012-2022
Flag
GDP GROWTH8.3%CURRENT US$
Rnk 148 / 186
2022
Flag
 GDP$179BCURRENT US$
Rnk 57 / 186
2012-2022
Flag
GDP GROWTH38.8%CURRENT US$
Rnk 86 / 186
2022
Flag
GDP PC $64,491CURRENT US$
Rnk 11 / 186
2012-2022
Flag
GDP PC GROWTH-5.23%CURRENT US$
Rnk 153 / 186
2022
Flag
GDP PC$18,463CURRENT US$
Rnk 55 / 186
2012-2022
Flag
GDP PC GROWTH42.2%CURRENT US$
Rnk 44 / 186

About

Australia-Hungary Trade: In 2022, Australia exported $53.6M to Hungary. The main products that Australia exported to Hungary were Unpackaged Medicaments ($11.1M), Packaged Medicaments ($10.1M), and Vegetable Alkaloids ($8.72M). Over the past 5 years the exports of Australia to Hungary have decreased at an annualized rate of 2.71%, from $61.4M in 2017 to $53.6M in 2022.

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

Hungary-Australia Trade: In 2022, Hungary exported $762M to Australia. The main products that Hungary exported to Australia were Cars ($278M), Office Machine Parts ($51.2M), and Computers ($50.8M). Over the past 5 years the exports of Hungary to Australia have increased at an annualized rate of 10.8%,  from $457M in 2017 to $762M in 2022.

In 2020, Hungary exported services to Australia worth $34.5M, with Travel ($16M), Computer and information services ($7.31M), and Transportation ($4.68M) being the largest in terms of value.

Comparison: In 2022,  Australia ranked 78 in the Economic Complexity Index (ECI -0.24), and 16 in total exports ($424B). 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, Australia exported $53.6M to Hungary. The main products exported from Australia to Hungary were Unpackaged Medicaments ($11.1M), Packaged Medicaments ($10.1M), and Vegetable Alkaloids ($8.72M). During the last 5 years the exports of Australia to Hungary have decreased at an annualized rate of 2.71%, from $61.4M in 2017 to $53.6M in 2022.

In 2017, Hungary exported $762M to Australia. The main products exported from Hungary to Australia were Cars ($278M), Office Machine Parts ($51.2M), and Computers ($50.8M). During the last 5 years the exports of Hungary to Australia have increased at an annualized rate of 10.8%, from $457M in 2022 to $762M in 2017.

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

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

Latest Data

Trade between Australia (Flag) and Hungary (Flag)

Australia Exports

Hungary Exports

Market Competitiveness

Color
Australia
Top DestinationChina$123B
Hungary
Top DestinationGermany$35.5B

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

In 2022, countries that imported more from Australia than Hungary included China ($123B), Japan ($80.1B), and South Korea ($41B).

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

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

Comparative Advantage Australia - Hungary

Flow
Scale

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

During 2022, Australia had a large net trade with Hungary in the exports of Chemical Products ($31.2M), Machines ($18M), and Instruments ($1.7M).

During 2017, Hungary had a large net trade with Australia in the exports of Transportation ($315M), Machines ($271M), and Chemical Products ($73.8M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Australia Hungary+$6.52MPackaged Medicaments
Top Product Potential Hungary Australia+$78.9MCars

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, Hungary exported services to Australia worth $34.5M, with Travel ($16M), Computer and information services ($7.31M), and Transportation ($4.68M) being the largest in terms of value.

Service trade data is presented based on availability.

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

Service Trade

Economic Complexity

Competitive Landscape

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

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

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