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Pricing

2022
Flag → Flag
Exports $1.55MRnk 147 / 205
2022
Flag → Flag
Top Product $679kCars
2022
Flag → Flag
Exports $9.83kRnk 71 / 0
2022
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Economic Complexity (ECI) ECI 1.38Rnk 14 / 133
2022
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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$8.13BCURRENT US$
Rnk 148 / 186
2012-2022
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GDP GROWTH0%CURRENT US$
Rnk 165 / 186
2022
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GDP PC $18,463CURRENT US$
Rnk 55 / 186
2012-2022
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GDP PC GROWTH42.2%CURRENT US$
Rnk 44 / 186
2022
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GDP PC$462CURRENT US$
Rnk 183 / 186
2012-2022
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GDP PC GROWTH0%CURRENT US$
Rnk 143 / 186

About

Hungary-Somalia Trade: In 2022, Hungary exported $1.55M to Somalia. The main products that Hungary exported to Somalia were Cars ($679k), Used Clothing ($487k), and Other Plastic Products ($308k). Over the past 5 years the exports of Hungary to Somalia have increased at an annualized rate of 89.4%, from $63.5k in 2017 to $1.55M in 2022.

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

Somalia-Hungary Trade: In 2022, Somalia exported $9.83k to Hungary. The main products that Somalia exported to Hungary were N/A. Over the past 5 years the exports of Somalia to Hungary have increased at an annualized rate of 22.8%,  from $3.52k in 2017 to $9.83k in 2022.

In 2022, Somalia 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, Somalia ranked 167 in total exports ($569M), and does not have data regarding Economic Complexity Index.

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Hungary exported $1.55M to Somalia. The main products exported from Hungary to Somalia were Cars ($679k), Used Clothing ($487k), and Other Plastic Products ($308k). During the last 5 years the exports of Hungary to Somalia have increased at an annualized rate of 89.4%, from $63.5k in 2017 to $1.55M in 2022.

In 2016, Somalia exported $9.83k to Hungary. There were not main exports from Somalia to Hungary in 2016. During the last 5 years the exports of Somalia to Hungary have increased at an annualized rate of 22.8%, from $3.52k in 2021 to $9.83k in 2016.

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

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

Latest Data

Trade between Hungary (Flag) and Somalia (Flag)

Hungary Exports

Market Competitiveness

Color
Hungary
Top DestinationGermany$35.5B
Somalia
Top DestinationUnited Arab Emirates$283M

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

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

In 2022, countries that imported more from Somalia than Hungary included Oman ($173M).

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

Comparative Advantage Hungary - Somalia

Flow
Scale

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

During 2022, Hungary had a large net trade with Somalia in the exports of Transportation ($717k), Textiles ($488k), and Plastics and Rubbers ($310k).

During 2016, Somalia had a large net trade with Hungary in the exports of .

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Hungary Somalia+$1.09MCars
Top Product Potential Somalia Hungary+$2.97kGold

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

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

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

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