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2023
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Exports $2.23BRnk 29 / 220
2023
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Top Product $230MCars
2023
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Exports $3.76BRnk 13 / 201
2023
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Top Product $444MCars
2023
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Economic Complexity (ECI) ECI 0.86Rnk 31 / 132
2023
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Economic Complexity (ECI) ECI 1.41Rnk 14 / 132
2023
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GDP$1.62TCURRENT US$
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2013-2023
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GDP GROWTH18.9%CURRENT US$
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2023
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 GDP$212BCURRENT US$
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2013-2023
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GDP GROWTH56.5%CURRENT US$
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2023
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GDP PC $33,509CURRENT US$
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2013-2023
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GDP PC GROWTH14.7%CURRENT US$
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2023
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GDP PC$22,142CURRENT US$
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2013-2023
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GDP PC GROWTH61.4%CURRENT US$
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About

Spain-Hungary Trade: In 2023, Spain exported $2.23B to Hungary. The main products that Spain exported to Hungary were Cars ($230M), Motor vehicles; parts and accessories (8701 to 8705) ($150M), and Pig Meat ($136M). Over the past 5 years the exports of Spain to Hungary have increased at an annualized rate of 3.72%, from $1.86B in 2018 to $2.23B in 2023.

In 2009, Spain exported services to Hungary worth $114M, with Services not allocated ($114M) being the largest in terms of value.

Hungary-Spain Trade: In 2023, Hungary exported $3.76B to Spain. The main products that Hungary exported to Spain were Cars ($444M), Spark-Ignition Engines ($434M), and Motor vehicles; parts and accessories (8701 to 8705) ($338M). Over the past 5 years the exports of Hungary to Spain have increased at an annualized rate of 2.81%,  from $3.27B in 2018 to $3.76B in 2023.

In 2020, Hungary exported services to Spain worth $266M, with Transportation ($72.1M), Royalties and license fees ($66.7M), and Other business services ($44.8M) being the largest in terms of value.

Comparison: In 2023,  Spain ranked 31 in the Economic Complexity Index (ECI 0.86), and 16 in total exports ($402B). 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, Spain exported €181M and imported €268M from Hungary, resulting in a negative trade balance of €86.8M. Between November 2023 and November 2024 the exports of Spain have decreased by €-16.9M (-8.56%) from €198M to €181M, while imports increased by €8.54M (3.3%) from €259M to €268M.

Trade In November 2024, the top exports of Spain to Hungary were Cars (€16.8M), Motor vehicles; parts and accessories (8701... (€13.6M), Pig Meat (€10.5M), Pesticides (€4.08M), and Other Measuring Instruments (€3.89M). In November 2024 the top imports of Spain from Hungary were Cars (€40.9M), Video Displays (€36.9M), Motor vehicles; parts and accessories (8701... (€29.3M), Spark-Ignition Engines (€22.1M), and Electric Batteries (€20.5M).

Origins In November 2024 the exports of Spain were mainly from Barcelona (€44.3M), Madrid (€17.2M), Zaragoza (€14.6M), Valencia (€10.5M), and A Coruña (€9.55M), while imports destinations were mainly Barcelona (€94.7M), Madrid (€39.8M), Zaragoza (€27.1M), Navarra (€17.5M), and Valladolid (€16M).

Growth In November 2024, the decrease in Spain's year-by-year exports to Hungary was explained primarily by an decrease in product exports in Electrical Ignitions (€-2.72M or -97.1%), Styrene Polymers (€-2.26M or -71.1%), and Packaged Medicaments (€-1.9M or -34.4%). In November 2024, the increase in Spain's year-by-year imports  from Hungary was explained primarily by an increase in product imports  in Video Displays (€10.1M or 37.6%), Pesticides (€8.17M or 132%), and Motor vehicles; parts and accessories (8701... (€3.57M or 13.9%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (November 2023 - November 2024)€-16.9M(-8.56%)
IMPORT GROWTH (November 2023 - November 2024)€8.54M(3.3%)
MAIN EXPORTER (November 2024)Barcelona€44.3M

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

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

For full datasets download visit Bulk Download page.

Explore Hungary and Spain Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Spain exported $2.23B to Hungary. The main products exported from Spain to Hungary were Cars ($230M), Motor vehicles; parts and accessories (8701 to 8705) ($150M), and Pig Meat ($136M). During the last 5 years the exports of Spain to Hungary have increased at an annualized rate of 3.72%, from $1.86B in 2018 to $2.23B in 2023.

In 2018, Hungary exported $3.76B to Spain. The main products exported from Hungary to Spain were Cars ($444M), Spark-Ignition Engines ($434M), and Motor vehicles; parts and accessories (8701 to 8705) ($338M). During the last 5 years the exports of Hungary to Spain have increased at an annualized rate of 2.81%, from $3.27B in 2023 to $3.76B in 2018.

Exports from Spain (Flag) to Hungary (Flag) (2023)

Exports from Hungary (Flag) to Spain (Flag) (2023)

Market Competitiveness

Color
Spain
Top DestinationFrance$61.9B
Hungary
Top DestinationGermany$37.4B

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

In 2023, countries that imported more from Spain than Hungary included France ($61.9B), Portugal ($38.1B), and Italy ($34.7B).

In 2023, countries that imported more from Hungary than Spain included Romania ($8.43B), Slovakia ($6.54B), and Austria ($5.53B).

Difference in imports from Hungary (Flag) and Spain (Flag) (2023)

Comparative Advantage Spain - Hungary

Flow
Scale

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

During 2023, Spain had a large net trade with Hungary in the exports of Machines ($481M), Transportation ($433M), and Chemical Products ($246M).

During 2018, Hungary had a large net trade with Spain in the exports of Machines ($1.73B), Transportation ($810M), and Chemical Products ($369M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Spain Hungary+$91.6MCars
Top Product Potential Hungary Spain+$185MCars

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 2009, Spain exported services to Hungary worth $114M, with Services not allocated ($114M) being the largest in terms of value.

In 2020, Hungary exported services to Spain worth $266M, with Transportation ($72.1M), Royalties and license fees ($66.7M), and Other business services ($44.8M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Spain (Flag) to Hungary (Flag) (2009)

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

Service Trade

Economic Complexity

Competitive Landscape

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

Product Space of Spain (Flag) and Hungary (Flag) (2023)

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