Georgia (GEO) and Hungary (HUN) Trade | The Observatory of Economic Complexity

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Georgia-Hungary Trade: In 2022, Georgia exported $4.04M to Hungary. The main products that Georgia exported to Hungary were Gas Turbines ($1.11M), Other Cloth Articles ($702k), and Broadcasting Equipment ($432k). Over the past 5 years the exports of Georgia to Hungary have increased at an annualized rate of 29.1%, from $1.13M in 2017 to $4.04M in 2022.

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

Hungary-Georgia Trade: In 2022, Hungary exported $81.2M to Georgia. The main products that Hungary exported to Georgia were Packaged Medicaments ($31.4M), Gas Turbines ($11.2M), and Tractors ($7.4M). Over the past 5 years the exports of Hungary to Georgia have increased at an annualized rate of 8.08%, from $55.1M in 2017 to $81.2M in 2022.

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

Comparison: In 2022, Georgia ranked 64 in the Economic Complexity Index (ECI 0.036), and 118 in total exports ($6.82B). 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, Georgia exported $4.04M to Hungary. The main products exported from Georgia to Hungary were Gas Turbines ($1.11M), Other Cloth Articles ($702k), and Broadcasting Equipment ($432k). During the last 5 years the exports of Georgia to Hungary have increased at an annualized rate of 29.1%, from $1.13M in 2017 to $4.04M in 2022.

In 2017, Hungary exported $81.2M to Georgia. The main products exported from Hungary to Georgia were Packaged Medicaments ($31.4M), Gas Turbines ($11.2M), and Tractors ($7.4M). During the last 5 years the exports of Hungary to Georgia have increased at an annualized rate of 8.08%, from $55.1M in 2022 to $81.2M in 2017.

Exports from Georgia () to Hungary () (2022)

Exports from Hungary () to Georgia () (2022)

Latest Data

Trade between Georgia () and Hungary ()

Georgia Exports

Date

Hungary Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Georgia
Top DestinationChina$759M

Hungary
Top DestinationGermany$35.5B

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

In 2022, countries that imported more from Georgia than Hungary included Azerbaijan ($668M), Armenia ($571M), and Peru ($164M).

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

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

Comparative Advantage Georgia - Hungary

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Georgia had a large net trade with Hungary in the exports of Machines ($1.82M), Textiles ($1.39M), and Transportation ($180k).

During 2017, Hungary had a large net trade with Georgia in the exports of Chemical Products ($35.4M), Machines ($18.7M), and Transportation ($12.2M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Georgia Hungary+$457kTelephones

Top Product Potential Hungary Georgia+$5.75MCars

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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Economic Complexity

Competitive Landscape

Year

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

About

Historical Data

Bilateral Trade by Products

Exports from Georgia () to Hungary () (2022)

Exports from Hungary () to Georgia () (2022)

Latest Data

Trade between Georgia () and Hungary ()

Georgia Exports

Hungary Exports

Market Competitiveness

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

Comparative Advantage Georgia - Hungary

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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