2022
Flag  
GDP
$179BCURRENT US$
Rnk 57 / 186
2012-2022
Flag
GDP GROWTH
38.8%CURRENT US$
Rnk 86 / 186
2022
Flag
 GDP
$2.14TCURRENT US$
Rnk 9 / 186
2012-2022
Flag
GDP GROWTH
17%CURRENT US$
Rnk 129 / 186
2022
Flag
GDP PC 
$18,463CURRENT US$
Rnk 55 / 186
2012-2022
Flag
GDP PC GROWTH
42.2%CURRENT US$
Rnk 44 / 186
2022
Flag
GDP PC
$54,966CURRENT US$
Rnk 14 / 186
2012-2022
Flag
GDP PC GROWTH
4.36%CURRENT US$
Rnk 130 / 186

About

Hungary-Canada Trade: In 2022, Hungary exported $486M to Canada. The main products that Hungary exported to Canada were Cars ($85.7M), Computers ($22.4M), and Packaged Medicaments ($21.8M). Over the past 5 years the exports of Hungary to Canada have increased at an annualized rate of 3.99%, from $399M in 2017 to $486M in 2022.

In 2020, Hungary exported services to Canada worth $39.2M, with Travel ($15.6M), Personal, cultural, and recreational services ($6.85M), and Other business services ($6.74M) being the largest in terms of value.

Canada-Hungary Trade: In 2022, Canada exported $88.5M to Hungary. The main products that Canada exported to Hungary were Scrap Aluminium ($20.4M), Other Printed Material ($4.96M), and Machinery Having Individual Functions ($4.78M). Over the past 5 years the exports of Canada to Hungary have increased at an annualized rate of 0.4%,  from $82.7M in 2017 to $88.5M in 2022.

In 2020, Canada exported services to Hungary worth $5.22M, with Royalties and license fees ($2.98M), Communications services ($1.49M), and Computer and information services ($746k) being the largest in terms of value.

Comparison: In 2022,  Hungary ranked 14 in the Economic Complexity Index (ECI 1.38), and 35 in total exports ($145B). That same year, Canada ranked 31 in the Economic Complexity Index (ECI 0.92), and 9 in total exports ($587B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Hungary exported $486M to Canada. The main products exported from Hungary to Canada were Cars ($85.7M), Computers ($22.4M), and Packaged Medicaments ($21.8M). During the last 5 years the exports of Hungary to Canada have increased at an annualized rate of 3.99%, from $399M in 2017 to $486M in 2022.

In 2017, Canada exported $88.5M to Hungary. The main products exported from Canada to Hungary were Scrap Aluminium ($20.4M), Other Printed Material ($4.96M), and Machinery Having Individual Functions ($4.78M). During the last 5 years the exports of Canada to Hungary have increased at an annualized rate of 0.4%, from $82.7M in 2022 to $88.5M in 2017.

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

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

Latest Data

Trade between Hungary (Flag) and Canada (Flag)

Hungary Exports

Canada Exports

Market Competitiveness

Color
Hungary
Top Destination
Germany$35.5B
Canada
Top Destination
United States$438B

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

In 2022, countries that imported more from Hungary than Canada included Germany ($35.5B), Romania ($7.94B), and Slovakia ($6.78B).

In 2022, countries that imported more from Canada than Hungary included United States ($438B), China ($25.4B), and Japan ($14.3B).

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

Comparative Advantage Hungary - Canada

Flow
Scale

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

During 2022, Hungary had a large net trade with Canada in the exports of Machines ($189M), Transportation ($99.5M), and Chemical Products ($49.2M).

During 2017, Canada had a large net trade with Hungary in the exports of Machines ($31.5M), Metals ($22.8M), and Instruments ($6.94M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Hungary Canada+$106MCars
Top Product Potential Canada Hungary+$5.34MMachinery Having Individual Functions

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 Canada worth $39.2M, with Travel ($15.6M), Personal, cultural, and recreational services ($6.85M), and Other business services ($6.74M) being the largest in terms of value.

In 2020, Canada exported services to Hungary worth $5.22M, with Royalties and license fees ($2.98M), Communications services ($1.49M), and Computer and information services ($746k) being the largest in terms of value.

Service trade data is presented based on availability.

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

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

Service Trade

Economic Complexity

Competitive Landscape

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

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

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