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2023
Flag → Flag
Exports $787MRnk 75 / 220
2023
Flag → Flag
Top Product $69.2MUnpackaged Medicaments
2023
Flag → Flag
Exports $520MRnk 37 / 201
2023
Flag → Flag
Top Product $25MCars
2023
Flag
Economic Complexity (ECI) ECI 0.65Rnk 39 / 132
2023
Flag
Economic Complexity (ECI) ECI 1.41Rnk 14 / 132
2023
Flag  
GDP$3.57TCURRENT US$
Rnk 5 / 195
2013-2023
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GDP GROWTH92.1%CURRENT US$
Rnk 19 / 195
2023
Flag
 GDP$212BCURRENT US$
Rnk 56 / 195
2013-2023
Flag
GDP GROWTH56.5%CURRENT US$
Rnk 60 / 195
2023
Flag
GDP PC $2,481CURRENT US$
Rnk 148 / 195
2013-2023
Flag
GDP PC GROWTH73.1%CURRENT US$
Rnk 22 / 195
2023
Flag
GDP PC$22,142CURRENT US$
Rnk 58 / 196
2013-2023
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GDP PC GROWTH61.4%CURRENT US$
Rnk 29 / 195

About

India-Hungary Trade: In 2023, India exported $787M to Hungary. The main products that India exported to Hungary were Unpackaged Medicaments ($69.2M), Electric Batteries ($67.3M), and Navigation Equipment ($60.1M). Over the past 5 years the exports of India to Hungary have increased at an annualized rate of 10.5%, from $477M in 2018 to $787M in 2023.

In 2023, India did not export any services to Hungary.

Hungary-India Trade: In 2023, Hungary exported $520M to India. The main products that Hungary exported to India were Cars ($25M), Locomotive Parts ($24.9M), and Semiconductor Devices ($24.6M). Over the past 5 years the exports of Hungary to India have increased at an annualized rate of 13.4%,  from $277M in 2018 to $520M in 2023.

In 2020, Hungary exported services to India worth $14M, with Other business services ($4.23M), Transportation ($3.88M), and Computer and information services ($2.06M) being the largest in terms of value.

Comparison: In 2023,  India ranked 39 in the Economic Complexity Index (ECI 0.65), and 12 in total exports ($441B). That same year, Hungary ranked 14 in the Economic Complexity Index (ECI 1.41), and 35 in total exports ($150B).

Latest Trends

November, 2024

About

Overview In November 2024, India exported $37.4M and imported $33.1M from Hungary, resulting in a positive trade balance of $4.38M. Between November 2023 and November 2024 the exports of India have decreased by $-3.99M (-9.63%) from $41.4M to $37.4M, while imports increased by $11.5M (53.2%) from $21.6M to $33.1M.

Trade In November 2024, the top exports of India to Hungary were Drug Formulations, Biologicals ($6.94M), Telecom Instruments ($5.96M), Electric Machinery And Equipme ($4.2M), Residul Chemicl And Alled Prod ($3.68M), and Auto Components/Parts ($3.07M). In November 2024 the top imports of India from Hungary were Residul Chemicl And Alled Prod ($4.23M), Organic Chemicals ($3.72M), Bulk Drugs, Drug Intermediates ($2.9M), Electronics Instruments ($2.06M), and Ceramics And Allied Products ($1.81M).

Growth In November 2024, the decrease in India's year-by-year exports to Hungary was explained primarily by an decrease in product exports in Plastic Raw Materials ($-1.92M or -97.8%), Telecom Instruments ($-1.42M or -19.3%), and Optical Items (Incl.Lens Etc) ($-953k or -100%). In November 2024, the increase in India's year-by-year imports  from Hungary was explained primarily by an increase in product imports  in Organic Chemicals ($2.88M or 343%), Bulk Drugs, Drug Intermediates ($1.97M or 213%), and Ceramics And Allied Products ($1.68M or 1.32k%).

Latest Trade

Time Scale
Flow
Value
EXPORT GROWTH (November 2023 - November 2024)$-3.99M(-9.63%)
IMPORT GROWTH (November 2023 - November 2024)$11.5M(53.2%)

This section shows exports and imports data at subnational level for India. Click any date in the line plot or any product to explore the exports or imports behavior of India over time.

To check Hungary and India trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Hungary and India Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, India exported $787M to Hungary. The main products exported from India to Hungary were Unpackaged Medicaments ($69.2M), Electric Batteries ($67.3M), and Navigation Equipment ($60.1M). During the last 5 years the exports of India to Hungary have increased at an annualized rate of 10.5%, from $477M in 2018 to $787M in 2023.

In 2018, Hungary exported $520M to India. The main products exported from Hungary to India were Cars ($25M), Locomotive Parts ($24.9M), and Semiconductor Devices ($24.6M). During the last 5 years the exports of Hungary to India have increased at an annualized rate of 13.4%, from $277M in 2023 to $520M in 2018.

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

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

Market Competitiveness

Color
India
Top DestinationUnited States$85.5B
Hungary
Top DestinationGermany$37.4B

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

In 2023, countries that imported more from India than Hungary included United States ($85.5B), United Arab Emirates ($28.8B), and China ($18.1B).

In 2023, countries that imported more from Hungary than India included Germany ($37.4B), Romania ($8.43B), and Slovakia ($6.54B).

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

Comparative Advantage India - Hungary

Flow
Scale

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

During 2023, India had a large net trade with Hungary in the exports of Machines ($320M), Chemical Products ($223M), and Transportation ($59.6M).

During 2018, Hungary had a large net trade with India in the exports of Machines ($199M), Transportation ($82.5M), and Chemical Products ($80.4M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential India Hungary+$62.8MPackaged Medicaments
Top Product Potential Hungary India+$43.8MComputers

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 India worth $14M, with Other business services ($4.23M), Transportation ($3.88M), and Computer and information services ($2.06M) being the largest in terms of value.

Service trade data is presented based on availability.

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

Service Trade

Economic Complexity

Competitive Landscape

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

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

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