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2023
Flag → Flag
Exports $56.3MRnk 76 / 201
2023
Flag → Flag
Top Product $11.5MVaccines, blood, antisera, toxins and cultures
2023
Flag → Flag
Exports $9.82MRnk 22 / 130
2023
Flag → Flag
Top Product $8.74MElectricity
2023
Flag
Economic Complexity (ECI) ECI 1.41Rnk 14 / 132
2023
Flag  
GDP$212BCURRENT US$
Rnk 56 / 195
2013-2023
Flag
GDP GROWTH56.5%CURRENT US$
Rnk 60 / 195
2023
Flag
 GDP$7.53BCURRENT US$
Rnk 154 / 195
2013-2023
Flag
GDP GROWTH68.6%CURRENT US$
Rnk 42 / 195
2023
Flag
GDP PC $22,142CURRENT US$
Rnk 58 / 195
2013-2023
Flag
GDP PC GROWTH61.4%CURRENT US$
Rnk 29 / 195
2023
Flag
GDP PC$12,221CURRENT US$
Rnk 83 / 196
2013-2023
Flag
GDP PC GROWTH70%CURRENT US$
Rnk 26 / 195

About

Hungary-Montenegro Trade: In 2023, Hungary exported $56.3M to Montenegro. The main products that Hungary exported to Montenegro were Vaccines, blood, antisera, toxins and cultures ($11.5M), Packaged Medicaments ($4.41M), and Pig Meat ($2.86M). Over the past 5 years the exports of Hungary to Montenegro have increased at an annualized rate of 11.6%, from $32.5M in 2018 to $56.3M in 2023.

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

Montenegro-Hungary Trade: In 2023, Montenegro exported $9.82M to Hungary. The main products that Montenegro exported to Hungary were Electricity ($8.74M), Scrap Aluminium ($256k), and Broadcasting Equipment ($202k). Over the past 5 years the exports of Montenegro to Hungary have decreased at an annualized rate of 29.6%,  from $56.9M in 2018 to $9.82M in 2023.

In 2023, Montenegro 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, Montenegro ranked 151 in total exports ($1.53B), and does not have data regarding Economic Complexity Index.

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Hungary exported $56.3M to Montenegro. The main products exported from Hungary to Montenegro were Vaccines, blood, antisera, toxins and cultures ($11.5M), Packaged Medicaments ($4.41M), and Pig Meat ($2.86M). During the last 5 years the exports of Hungary to Montenegro have increased at an annualized rate of 11.6%, from $32.5M in 2018 to $56.3M in 2023.

In 2018, Montenegro exported $9.82M to Hungary. The main products exported from Montenegro to Hungary were Electricity ($8.74M), Scrap Aluminium ($256k), and Broadcasting Equipment ($202k). During the last 5 years the exports of Montenegro to Hungary have decreased at an annualized rate of 29.6%, from $56.9M in 2023 to $9.82M in 2018.

Exports from Hungary (Flag) to Montenegro (Flag) (2023)

Exports from Montenegro (Flag) to Hungary (Flag) (2023)

Latest Data

Trade between Hungary (Flag) and Montenegro (Flag)

Hungary Exports

Montenegro Exports

Market Competitiveness

Color
Hungary
Top DestinationGermany$37.4B
Montenegro
Top DestinationItaly$576M

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

In 2023, countries that imported more from Hungary than Montenegro included Germany ($37.4B), Italy ($9.08B), and Romania ($8.43B).

In 2023, countries that imported more from Montenegro than Hungary included Burundi ($56.2k).

Difference in imports from Montenegro (Flag) and Hungary (Flag) (2023)

Comparative Advantage Hungary - Montenegro

Flow
Scale

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

During 2023, Hungary had a large net trade with Montenegro in the exports of Chemical Products ($18.3M), Foodstuffs ($8.75M), and Machines ($7.67M).

During 2018, Montenegro had a large net trade with Hungary in the exports of Mineral Products ($8.74M), Chemical Products ($298k), and Machines ($290k).

Economic Complexity

Competitive Landscape

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

Product Space of Hungary (Flag) and Montenegro (Flag) (2023)

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