NEW: World Trade TARIFFS Simulator!
NEW: 2023 Data and Complexity Rankings
Sign In
Pricing

2023
Flag → Flag
Exports $20.7MRnk 92 / 201
2023
Flag → Flag
Top Product $4.01MOther Nitrogen Compounds
2023
Flag → Flag
Exports $12.7MRnk 65 / 159
2023
Flag → Flag
Top Product $11.8MBroadcasting Equipment
2023
Flag
Economic Complexity (ECI) ECI 1.41Rnk 14 / 132
2023
Flag
Economic Complexity (ECI) ECI -1.75Rnk 129 / 132
2023
Flag  
GDP$212BCURRENT US$
Rnk 56 / 195
2013-2023
Flag
GDP GROWTH56.5%CURRENT US$
Rnk 60 / 195
2023
Flag
 GDP$364BCURRENT US$
Rnk 41 / 195
2013-2023
Flag
GDP GROWTH-30%CURRENT US$
Rnk 191 / 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$1,597CURRENT US$
Rnk 164 / 196
2013-2023
Flag
GDP PC GROWTH-44.4%CURRENT US$
Rnk 192 / 195

About

Hungary-Nigeria Trade: In 2023, Hungary exported $20.7M to Nigeria. The main products that Hungary exported to Nigeria were Other Nitrogen Compounds ($4.01M), Petroleum Jelly ($1.99M), and Special Pharmaceuticals ($1.82M). Over the past 5 years the exports of Hungary to Nigeria have decreased at an annualized rate of 14.8%, from $46.3M in 2018 to $20.7M in 2023.

In 2020, Hungary exported services to Nigeria worth $4.34M, with Travel ($4M), Financial services ($228k), and Other business services ($114k) being the largest in terms of value.

Nigeria-Hungary Trade: In 2023, Nigeria exported $12.7M to Hungary. The main products that Nigeria exported to Hungary were Broadcasting Equipment ($11.8M), Telephones ($238k), and Office Machine Parts ($219k). Over the past 5 years the exports of Nigeria to Hungary have increased at an annualized rate of 115%,  from $275k in 2018 to $12.7M in 2023.

In 2023, Nigeria 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, Nigeria ranked 129 in the Economic Complexity Index (ECI -1.75), and 52 in total exports ($61B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Hungary exported $20.7M to Nigeria. The main products exported from Hungary to Nigeria were Other Nitrogen Compounds ($4.01M), Petroleum Jelly ($1.99M), and Special Pharmaceuticals ($1.82M). During the last 5 years the exports of Hungary to Nigeria have decreased at an annualized rate of 14.8%, from $46.3M in 2018 to $20.7M in 2023.

In 2018, Nigeria exported $12.7M to Hungary. The main products exported from Nigeria to Hungary were Broadcasting Equipment ($11.8M), Telephones ($238k), and Office Machine Parts ($219k). During the last 5 years the exports of Nigeria to Hungary have increased at an annualized rate of 115%, from $275k in 2023 to $12.7M in 2018.

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

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

Latest Data

Trade between Hungary (Flag) and Nigeria (Flag)

Hungary Exports

Nigeria Exports

Date

Market Competitiveness

Color
Hungary
Top DestinationGermany$37.4B
Nigeria
Top DestinationUnited States$6.29B

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

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

In 2023, countries that imported more from Nigeria than Hungary included Indonesia ($3.44B), India ($3.64B), and Cote d'Ivoire ($2.4B).

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

Comparative Advantage Hungary - Nigeria

Flow
Scale

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

During 2023, Hungary had a large net trade with Nigeria in the exports of Chemical Products ($8.15M), Machines ($3.71M), and Foodstuffs ($2.57M).

During 2018, Nigeria had a large net trade with Hungary in the exports of Machines ($12.7M), Vegetable Products ($24.9k), and Transportation ($9.28k).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Hungary Nigeria+$2.41MElectric Generating Sets
Top Product Potential Nigeria Hungary+$1.91MTelephones

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.

Subscribe today to OEC pro and access the latest data

Sign Up

Subscribe today to OEC pro and access the latest data

Sign Up

Economic Complexity

Competitive Landscape

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

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

Keep Exploring

Have questions, comments, or concerns?
Send us an e-mail: support@oec.world
Follow @OECtoday on
Created, Designed, and Developed by:
In collaboration with
About the OECPrivacy PolicyTerms