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

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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.

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.

Comparison: In 2022, Hungary ranked 14 in the Economic Complexity Index (ECI 1.38), and 35 in total exports ($145B). That same year, Georgia ranked 64 in the Economic Complexity Index (ECI 0.036), and 118 in total exports ($6.82B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, 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 2017 to $81.2M in 2022.

In 2017, 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 2022 to $4.04M in 2017.

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

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

Latest Data

Trade between Hungary () and Georgia ()

Hungary Exports

Date

Georgia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Hungary
Top DestinationGermany$35.5B

Georgia
Top DestinationChina$759M

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

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

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

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

Comparative Advantage Hungary - Georgia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Hungary had a large net trade with Georgia in the exports of Chemical Products ($35.4M), Machines ($18.7M), and Transportation ($12.2M).

During 2017, Georgia had a large net trade with Hungary in the exports of Machines ($1.82M), Textiles ($1.39M), and Transportation ($180k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Hungary Georgia+$5.75MCars

Top Product Potential Georgia Hungary+$457kTelephones

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 Hungary and Georgia. This means that a dot/product with the flag of Hungary indicates it has a comparative advantage over Georgia. Similarly, a dot/product with the flag of Georgia indicates it has a comparative advantage over Hungary.

About

Historical Data

Bilateral Trade by Products

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

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

Latest Data

Trade between Hungary () and Georgia ()

Hungary Exports

Georgia Exports

Market Competitiveness

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

Comparative Advantage Hungary - Georgia

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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