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2023
Flag → Flag
Exports $1.17BRnk 24 / 201
2023
Flag → Flag
Top Product $293MPackaged Medicaments
2023
Flag → Flag
Exports $6.19BRnk 10 / 137
2023
Flag → Flag
Top Product $3.67BPetroleum Gas
2023
Flag
Economic Complexity (ECI) ECI 1.41Rnk 14 / 132
2023
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Economic Complexity (ECI) ECI 0.3Rnk 50 / 132
2023
Flag  
GDP$212BCURRENT US$
Rnk 56 / 195
2013-2023
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GDP GROWTH56.5%CURRENT US$
Rnk 60 / 195
2023
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 GDP$2.02TCURRENT US$
Rnk 11 / 195
2013-2023
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GDP GROWTH-11.8%CURRENT US$
Rnk 183 / 195
2023
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GDP PC $22,142CURRENT US$
Rnk 58 / 195
2013-2023
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GDP PC GROWTH61.4%CURRENT US$
Rnk 29 / 195
2023
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GDP PC$13,817CURRENT US$
Rnk 74 / 196
2013-2023
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GDP PC GROWTH-13.3%CURRENT US$
Rnk 170 / 195

About

Hungary-Russia Trade: In 2023, Hungary exported $1.17B to Russia. The main products that Hungary exported to Russia were Packaged Medicaments ($293M), Special Pharmaceuticals ($174M), and Toilet Paper ($122M). Over the past 5 years the exports of Hungary to Russia have decreased at an annualized rate of 10.3%, from $2.02B in 2018 to $1.17B in 2023.

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 2023, Russia exported $6.19B to Hungary. The main products that Russia exported to Hungary were Petroleum Gas ($3.67B), Crude Petroleum ($2.22B), and Nuclear Reactors ($151M). Over the past 5 years the exports of Russia to Hungary have increased at an annualized rate of 5.81%,  from $4.67B in 2018 to $6.19B in 2023.

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 2023,  Hungary ranked 14 in the Economic Complexity Index (ECI 1.41), and 35 in total exports ($150B). That same year, Russia ranked 50 in the Economic Complexity Index (ECI 0.3), and 18 in total exports ($394B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Hungary exported $1.17B to Russia. The main products exported from Hungary to Russia were Packaged Medicaments ($293M), Special Pharmaceuticals ($174M), and Toilet Paper ($122M). During the last 5 years the exports of Hungary to Russia have decreased at an annualized rate of 10.3%, from $2.02B in 2018 to $1.17B in 2023.

In 2018, Russia exported $6.19B to Hungary. The main products exported from Russia to Hungary were Petroleum Gas ($3.67B), Crude Petroleum ($2.22B), and Nuclear Reactors ($151M). During the last 5 years the exports of Russia to Hungary have increased at an annualized rate of 5.81%, from $4.67B in 2023 to $6.19B in 2018.

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

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

Latest Data

Trade between Hungary (Flag) and Russia (Flag)

Hungary Exports

Russia Exports

Market Competitiveness

Color
Hungary
Top DestinationGermany$37.4B
Russia
Top DestinationChina$129B

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 2023, countries that imported more from Hungary than Russia included Germany ($37.4B), Romania ($8.43B), and United Kingdom ($6.13B).

In 2023, countries that imported more from Russia than Hungary included China ($129B), India ($66.1B), and Turkey ($31B).

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

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 2023, Hungary had a large net trade with Russia in the exports of Chemical Products ($659M), Paper Goods ($122M), and Machines ($114M).

During 2018, Russia had a large net trade with Hungary in the exports of Mineral Products ($5.89B), Machines ($153M), and Chemical Products ($75.2M).

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) (2023)

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