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2023
Flag → Flag
Exports $1.42BRnk 42 / 223
2023
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Top Product $174MCars
2023
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Exports $6.13BRnk 8 / 201
2023
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Top Product $1.57BCars
2023
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Economic Complexity (ECI) ECI 1.5Rnk 11 / 132
2023
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Economic Complexity (ECI) ECI 1.41Rnk 14 / 132
2023
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GDP$3.38TCURRENT US$
Rnk 6 / 195
2013-2023
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GDP GROWTH21.4%CURRENT US$
Rnk 136 / 195
2023
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 GDP$212BCURRENT US$
Rnk 56 / 195
2013-2023
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GDP GROWTH56.5%CURRENT US$
Rnk 60 / 195
2023
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GDP PC $49,464CURRENT US$
Rnk 26 / 195
2013-2023
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GDP PC GROWTH13.9%CURRENT US$
Rnk 124 / 195
2023
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GDP PC$22,142CURRENT US$
Rnk 58 / 196
2013-2023
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GDP PC GROWTH61.4%CURRENT US$
Rnk 29 / 195

About

United Kingdom-Hungary Trade: In 2023, United Kingdom exported $1.42B to Hungary. The main products that United Kingdom exported to Hungary were Cars ($174M), Gas Turbines ($137M), and Broadcasting Equipment ($69.3M). Over the past 5 years the exports of United Kingdom to Hungary have decreased at an annualized rate of 6.7%, from $2.01B in 2018 to $1.42B in 2023.

In 2019, United Kingdom exported services to Hungary worth $816M, with Travel ($314M), Other business services ($163M), and Transportation ($129M) being the largest in terms of value.

Hungary-United Kingdom Trade: In 2023, Hungary exported $6.13B to United Kingdom. The main products that Hungary exported to United Kingdom were Cars ($1.57B), Motor vehicles; parts and accessories (8701 to 8705) ($528M), and Computers ($307M). Over the past 5 years the exports of Hungary to United Kingdom have increased at an annualized rate of 9.84%,  from $3.84B in 2018 to $6.13B in 2023.

In 2020, Hungary exported services to United Kingdom worth $1.61B, with Other business services ($850M), Transportation ($280M), and Computer and information services ($278M) being the largest in terms of value.

Comparison: In 2023,  United Kingdom ranked 11 in the Economic Complexity Index (ECI 1.5), and 14 in total exports ($429B). 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, United Kingdom exported £109M and imported £283M from Hungary, resulting in a negative trade balance of £173M. Between November 2023 and November 2024 the exports of United Kingdom have decreased by £-8.63M (-7.31%) from £118M to £109M, while imports decreased by £-38.4M (-12%) from £321M to £283M.

Trade In November 2024, the top exports of United Kingdom to Hungary were Nucleic Acids (£9.53M), Gas Turbines (£9.33M), Cars (£6.53M), Telephones (£6.19M), and Motor vehicles; parts and accessories (8701... (£3.09M). In November 2024 the top imports of United Kingdom from Hungary were Computers (£24.9M), Cars (£21.9M), Motor vehicles; parts and accessories (8701... (£20.7M), Electric Batteries (£14.9M), and Video Displays (£14M).

Origins In November 2024 the exports of United Kingdom were mainly from Dover Eurotunnel (£53.9M), Tyne (£14.5M), Immingham (£8.35M), East Midlands Airport (£5.34M), and Dover (£5.27M), while imports destinations were mainly Dover (£113M), Eurotunnel (£27.3M), Dover Eurotunnel (£27M), Purfleet (£12.8M), and London Heathrow Airport (£9.65M).

Growth In November 2024, the decrease in United Kingdom's year-by-year exports to Hungary was explained primarily by an decrease in product exports in Laboratory Reagents (£-2.46M or -98.6%), Plastic Lids (£-2.39M or -81.2%), and Liquid Pumps (£-1.29M or -84.1%). In November 2024, the decrease in United Kingdom's year-by-year imports  from Hungary was explained primarily by an decrease in product imports  in Video Displays (£-5.23M or -27.2%), Motor-working Tools (£-4.63M or -87.8%), and Vaccines, blood, antisera, toxins and cultures (£-1.43M or -39%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (November 2023 - November 2024)£-8.63M(-7.31%)
IMPORT GROWTH (November 2023 - November 2024)£-38.4M(-12%)
MAIN EXPORTER (November 2024)Dover Eurotunnel£53.9M

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

To check Hungary and United Kingdom trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Hungary and United Kingdom Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, United Kingdom exported $1.42B to Hungary. The main products exported from United Kingdom to Hungary were Cars ($174M), Gas Turbines ($137M), and Broadcasting Equipment ($69.3M). During the last 5 years the exports of United Kingdom to Hungary have decreased at an annualized rate of 6.7%, from $2.01B in 2018 to $1.42B in 2023.

In 2018, Hungary exported $6.13B to United Kingdom. The main products exported from Hungary to United Kingdom were Cars ($1.57B), Motor vehicles; parts and accessories (8701 to 8705) ($528M), and Computers ($307M). During the last 5 years the exports of Hungary to United Kingdom have increased at an annualized rate of 9.84%, from $3.84B in 2023 to $6.13B in 2018.

Exports from United Kingdom (Flag) to Hungary (Flag) (2023)

Exports from Hungary (Flag) to United Kingdom (Flag) (2023)

Market Competitiveness

Color
United Kingdom
Top DestinationUnited States$59.7B
Hungary
Top DestinationGermany$37.4B

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

In 2023, countries that imported more from United Kingdom than Hungary included United States ($59.7B), China ($35.3B), and Ireland ($29.1B).

In 2023, countries that imported more from Hungary than United Kingdom included Romania ($8.43B), Slovakia ($6.54B), and Germany ($37.4B).

Difference in imports from Hungary (Flag) and United Kingdom (Flag) (2023)

Comparative Advantage United Kingdom - Hungary

Flow
Scale

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

During 2023, United Kingdom had a large net trade with Hungary in the exports of Machines ($501M), Chemical Products ($250M), and Transportation ($239M).

During 2018, Hungary had a large net trade with United Kingdom in the exports of Transportation ($2.19B), Machines ($1.94B), and Plastics and Rubbers ($388M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential United Kingdom Hungary+$86.7MCars
Top Product Potential Hungary United Kingdom+$316MCars

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 2019, United Kingdom exported services to Hungary worth $816M, with Travel ($314M), Other business services ($163M), and Transportation ($129M) being the largest in terms of value.

In 2020, Hungary exported services to United Kingdom worth $1.61B, with Other business services ($850M), Transportation ($280M), and Computer and information services ($278M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from United Kingdom (Flag) to Hungary (Flag) (2019)

Services Exports from Hungary (Flag) to United Kingdom (Flag) (2020)

Service Trade

Economic Complexity

Competitive Landscape

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

Product Space of United Kingdom (Flag) and Hungary (Flag) (2023)

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