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2022
Flag → Flag
Exports $1.35BRnk 23 / 205
2022
Flag → Flag
Top Product $253MPackaged Medicaments
2022
Flag → Flag
Exports $8.46BRnk 16 / 138
2022
Flag → Flag
Top Product $5.58BPetroleum Gas
2022
Flag
Economic Complexity (ECI) ECI 1.38Rnk 14 / 133
2022
Flag
Economic Complexity (ECI) ECI 0.43Rnk 47 / 133
2022
Flag  
GDP$179BCURRENT US$
Rnk 57 / 186
2012-2022
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GDP GROWTH38.8%CURRENT US$
Rnk 86 / 186
2022
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 GDP$2.24TCURRENT US$
Rnk 8 / 186
2012-2022
Flag
GDP GROWTH1.45%CURRENT US$
Rnk 164 / 186
2022
Flag
GDP PC $18,463CURRENT US$
Rnk 55 / 186
2012-2022
Flag
GDP PC GROWTH42.2%CURRENT US$
Rnk 44 / 186
2022
Flag
GDP PC$15,345CURRENT US$
Rnk 63 / 186
2012-2022
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GDP PC GROWTH-0.49%CURRENT US$
Rnk 145 / 186

About

Hungary-Russia Trade: In 2022, Hungary exported $1.35B to Russia. The main products that Hungary exported to Russia were Packaged Medicaments ($253M), Toilet Paper ($139M), and Special Pharmaceuticals ($122M). Over the past 5 years the exports of Hungary to Russia have decreased at an annualized rate of 8.3%, from $2.08B in 2017 to $1.35B in 2022.

In 2020, Hungary exported services to Russia worth $111M, with Transportation ($46.1M), Travel ($34.8M), and Other business services ($11.9M) being the largest in terms of value.

Russia-Hungary Trade: In 2022, Russia exported $8.46B to Hungary. The main products that Russia exported to Hungary were Petroleum Gas ($5.58B), Crude Petroleum ($2.39B), and Nuclear Reactors ($94.5M). Over the past 5 years the exports of Russia to Hungary have increased at an annualized rate of 19.7%,  from $3.44B in 2017 to $8.46B in 2022.

In 2020, Russia exported services to Hungary worth $163M, with Other business services ($83M), Construction services ($37.7M), and Transportation ($19.1M) being the largest in terms of value.

Comparison: In 2022,  Hungary ranked 14 in the Economic Complexity Index (ECI 1.38), and 35 in total exports ($145B). That same year, Russia ranked 47 in the Economic Complexity Index (ECI 0.43), and 12 in total exports ($486B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Hungary exported $1.35B to Russia. The main products exported from Hungary to Russia were Packaged Medicaments ($253M), Toilet Paper ($139M), and Special Pharmaceuticals ($122M). During the last 5 years the exports of Hungary to Russia have decreased at an annualized rate of 8.3%, from $2.08B in 2017 to $1.35B in 2022.

In 2017, Russia exported $8.46B to Hungary. The main products exported from Russia to Hungary were Petroleum Gas ($5.58B), Crude Petroleum ($2.39B), and Nuclear Reactors ($94.5M). During the last 5 years the exports of Russia to Hungary have increased at an annualized rate of 19.7%, from $3.44B in 2022 to $8.46B in 2017.

Exports from Hungary (Flag) to Russia (Flag) (2022)

Exports from Russia (Flag) to Hungary (Flag) (2022)

Latest Data

Trade between Hungary (Flag) and Russia (Flag)

Hungary Exports

Russia Exports

Market Competitiveness

Color
Hungary
Top DestinationGermany$35.5B
Russia
Top DestinationChina$101B

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

In 2022, countries that imported more from Hungary than Russia included Germany ($35.5B), Austria ($6.32B), and Romania ($7.94B).

In 2022, countries that imported more from Russia than Hungary included China ($101B), India ($40.4B), and Turkey ($25.3B).

Difference in imports from Russia (Flag) and Hungary (Flag) (2022)

Comparative Advantage Hungary - Russia

Flow
Scale

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

During 2022, Hungary had a large net trade with Russia in the exports of Chemical Products ($583M), Machines ($196M), and Paper Goods ($143M).

During 2017, Russia had a large net trade with Hungary in the exports of Mineral Products ($8.02B), Chemical Products ($134M), and Machines ($114M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Hungary Russia+$108MPackaged Medicaments
Top Product Potential Russia Hungary+$197MCrude Petroleum

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

In 2020, Hungary exported services to Russia worth $111M, with Transportation ($46.1M), Travel ($34.8M), and Other business services ($11.9M) being the largest in terms of value.

In 2020, Russia exported services to Hungary worth $163M, with Other business services ($83M), Construction services ($37.7M), and Transportation ($19.1M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Hungary (Flag) to Russia (Flag) (2020)

Services Exports from Russia (Flag) to Hungary (Flag) (2020)

Service Trade

Economic Complexity

Competitive Landscape

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

Product Space of Hungary (Flag) and Russia (Flag) (2022)

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