Hungary (HUN) and Iraq (IRQ) Trade | The Observatory of Economic Complexity

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Hungary-Iraq Trade: In 2023, Hungary exported $67.7M to Iraq. The main products that Hungary exported to Iraq were Other Edible Preparations ($19.8M), Gas Turbines ($7.75M), and Other Printed Material ($7M). Over the past 5 years the exports of Hungary to Iraq have increased at an annualized rate of 10.6%, from $40.9M in 2018 to $67.7M in 2023.

In 2023, Hungary did not export any services to Iraq.

Iraq-Hungary Trade: In 2023, Iraq exported $110M to Hungary. The main products that Iraq exported to Hungary were Crude Petroleum ($109M), Broadcasting Equipment ($784k), and Styrene Polymers ($175k). Over the past 5 years the exports of Iraq to Hungary have decreased at an annualized rate of 11.4%, from $369M in 2018 to $110M in 2023.

In 2023, Iraq did not export any services to Hungary.

Comparison: In 2023, Hungary ranked 14 in the Economic Complexity Index (ECI 1.41), and 35 in total exports ($150B). That same year, Iraq ranked 97 in the Economic Complexity Index (ECI -0.71), and 40 in total exports ($107B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Hungary exported $67.7M to Iraq. The main products exported from Hungary to Iraq were Other Edible Preparations ($19.8M), Gas Turbines ($7.75M), and Other Printed Material ($7M). During the last 5 years the exports of Hungary to Iraq have increased at an annualized rate of 10.6%, from $40.9M in 2018 to $67.7M in 2023.

In 2018, Iraq exported $110M to Hungary. The main products exported from Iraq to Hungary were Crude Petroleum ($109M), Broadcasting Equipment ($784k), and Styrene Polymers ($175k). During the last 5 years the exports of Iraq to Hungary have decreased at an annualized rate of 11.4%, from $369M in 2023 to $110M in 2018.

Exports from Hungary () to Iraq () (2023)

Exports from Iraq () to Hungary () (2023)

Latest Data

Trade between Hungary () and Iraq ()

Hungary Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Hungary
Top DestinationGermany$37.4B

Iraq
Top DestinationChina$35.5B

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

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

In 2023, countries that imported more from Iraq than Hungary included China ($35.5B), India ($29.8B), and Greece ($5.68B).

Difference in imports from Iraq () and Hungary () (2023)

Comparative Advantage Hungary - Iraq

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Hungary had a large net trade with Iraq in the exports of Machines ($21.3M), Foodstuffs ($20.4M), and Animal Products ($7.29M).

During 2018, Iraq had a large net trade with Hungary in the exports of Mineral Products ($109M), Machines ($929k), and Plastics and Rubbers ($175k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Hungary Iraq+$6MCars

Top Product Potential Iraq 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 Iraq. This means that a dot/product with the flag of Hungary indicates it has a comparative advantage over Iraq. Similarly, a dot/product with the flag of Iraq indicates it has a comparative advantage over Hungary.

About

Historical Data

Bilateral Trade by Products

Exports from Hungary () to Iraq () (2023)

Exports from Iraq () to Hungary () (2023)

Latest Data

Trade between Hungary () and Iraq ()

Hungary Exports

Market Competitiveness

Difference in imports from Iraq () and Hungary () (2023)

Comparative Advantage Hungary - Iraq

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Hungary () and Iraq () (2023)

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