Hungary (HUN) and Italy (ITA) Trade | The Observatory of Economic Complexity

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Hungary-Italy Trade: In 2023, Hungary exported $9.08B to Italy. The main products that Hungary exported to Italy were Cars ($1.11B), Electric Batteries ($958M), and Wheat ($465M). Over the past 5 years the exports of Hungary to Italy have increased at an annualized rate of 7.96%, from $6.19B in 2018 to $9.08B in 2023.

In 2020, Hungary exported services to Italy worth $470M, with Transportation ($152M), Other business services ($108M), and Travel ($98.2M) being the largest in terms of value.

Italy-Hungary Trade: In 2023, Italy exported $5.57B to Hungary. The main products that Italy exported to Hungary were Copper Wire ($276M), Motor vehicles; parts and accessories (8701 to 8705) ($205M), and Raw Aluminium ($190M). Over the past 5 years the exports of Italy to Hungary have increased at an annualized rate of 1.26%, from $5.23B in 2018 to $5.57B in 2023.

In 2020, Italy exported services to Hungary worth $330M, with Transportation ($106M), Travel ($79.6M), and Computer and information services ($49.1M) being the largest in terms of value.

Comparison: In 2023, Hungary ranked 14 in the Economic Complexity Index (ECI 1.41), and 35 in total exports ($150B). That same year, Italy ranked 18 in the Economic Complexity Index (ECI 1.29), and 6 in total exports ($638B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Hungary exported $9.08B to Italy. The main products exported from Hungary to Italy were Cars ($1.11B), Electric Batteries ($958M), and Wheat ($465M). During the last 5 years the exports of Hungary to Italy have increased at an annualized rate of 7.96%, from $6.19B in 2018 to $9.08B in 2023.

In 2018, Italy exported $5.57B to Hungary. The main products exported from Italy to Hungary were Copper Wire ($276M), Motor vehicles; parts and accessories (8701 to 8705) ($205M), and Raw Aluminium ($190M). During the last 5 years the exports of Italy to Hungary have increased at an annualized rate of 1.26%, from $5.23B in 2023 to $5.57B in 2018.

Exports from Hungary () to Italy () (2023)

Exports from Italy () to Hungary () (2023)

Latest Data

Trade between Hungary () and Italy ()

Hungary Exports

Date

Italy Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Hungary
Top DestinationGermany$37.4B

Italy
Top DestinationGermany$71.4B

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

In 2023, countries that imported more from Hungary than Italy included Slovakia ($6.54B), Saint Martin ($1.49M), and Saint Barthélemy ($342k).

In 2023, countries that imported more from Italy than Hungary included United States ($70.9B), France ($61.1B), and Germany ($71.4B).

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

Comparative Advantage Hungary - Italy

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Hungary had a large net trade with Italy in the exports of Machines ($2.89B), Transportation ($1.45B), and Vegetable Products ($903M).

During 2018, Italy had a large net trade with Hungary in the exports of Machines ($1.53B), Metals ($1.35B), and Chemical Products ($566M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Hungary Italy+$280MCars

Top Product Potential Italy Hungary+$107MMotor vehicles; parts and accessories (8701 to 8705)

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

Ita Year

Hun Year

In 2020, Hungary exported services to Italy worth $470M, with Transportation ($152M), Other business services ($108M), and Travel ($98.2M) being the largest in terms of value.

In 2020, Italy exported services to Hungary worth $330M, with Transportation ($106M), Travel ($79.6M), and Computer and information services ($49.1M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Hungary () to Italy () (2020)

Services Exports from Italy () to Hungary () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Year

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

About

Historical Data

Bilateral Trade by Products

Exports from Hungary () to Italy () (2023)

Exports from Italy () to Hungary () (2023)

Latest Data

Trade between Hungary () and Italy ()

Hungary Exports

Italy Exports

Market Competitiveness

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

Comparative Advantage Hungary - Italy

Potential Exports

Potential Exports

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Bilateral Service Trade

Services Exports from Hungary () to Italy () (2020)

Services Exports from Italy () to Hungary () (2020)

Service Trade

Economic Complexity

Competitive Landscape

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

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