Hungary (HUN) and Panama (PAN) Trade | The Observatory of Economic Complexity

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Hungary-Panama Trade: In 2022, Hungary exported $19.6M to Panama. The main products that Hungary exported to Panama were Cars ($9.21M), Other Plastic Products ($2.24M), and Rubber Tires ($1.5M). Over the past 5 years the exports of Hungary to Panama have decreased at an annualized rate of 2.6%, from $22.4M in 2017 to $19.6M in 2022.

In 2022, Hungary did not export any services to Panama.

Panama-Hungary Trade: In 2022, Panama exported $2.1M to Hungary. The main products that Panama exported to Hungary were Hard Liquor ($1.04M), Microphones and Headphones ($611k), and Electric Batteries ($183k). Over the past 5 years the exports of Panama to Hungary have increased at an annualized rate of 64.7%, from $63.9k in 2017 to $2.1M in 2022.

In 2022, Panama 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, Panama ranked 56 in the Economic Complexity Index (ECI 0.17), and 119 in total exports ($6.62B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Hungary exported $19.6M to Panama. The main products exported from Hungary to Panama were Cars ($9.21M), Other Plastic Products ($2.24M), and Rubber Tires ($1.5M). During the last 5 years the exports of Hungary to Panama have decreased at an annualized rate of 2.6%, from $22.4M in 2017 to $19.6M in 2022.

In 2017, Panama exported $2.1M to Hungary. The main products exported from Panama to Hungary were Hard Liquor ($1.04M), Microphones and Headphones ($611k), and Electric Batteries ($183k). During the last 5 years the exports of Panama to Hungary have increased at an annualized rate of 64.7%, from $63.9k in 2022 to $2.1M in 2017.

Exports from Hungary () to Panama () (2022)

Exports from Panama () to Hungary () (2022)

Latest Data

Trade between Hungary () and Panama ()

Hungary Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Hungary
Top DestinationGermany$35.5B

Panama
Top DestinationChina$1.14B

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

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

In 2022, countries that imported more from Panama than Hungary included Costa Rica ($242M), Guatemala ($148M), and Thailand ($295M).

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

Comparative Advantage Hungary - Panama

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Hungary had a large net trade with Panama in the exports of Transportation ($9.52M), Plastics and Rubbers ($4.33M), and Machines ($1.45M).

During 2017, Panama had a large net trade with Hungary in the exports of Foodstuffs ($1.04M), Machines ($931k), and Transportation ($111k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Hungary Panama+$7.92MCars

Top Product Potential Panama Hungary+$321kTelephones

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

About

Historical Data

Bilateral Trade by Products

Exports from Hungary () to Panama () (2022)

Exports from Panama () to Hungary () (2022)

Latest Data

Trade between Hungary () and Panama ()

Hungary Exports

Market Competitiveness

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

Comparative Advantage Hungary - Panama

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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