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2022
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Exports $767MRnk 28 / 210
2022
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Top Product $122MPackaged Medicaments
2022
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Exports $611MRnk 32 / 205
2022
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Top Product $312MComputers
2022
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Economic Complexity (ECI) ECI 1.28Rnk 16 / 124
2022
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Economic Complexity (ECI) ECI 1.36Rnk 13 / 124
2022
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GDP$529BCURRENT US$
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2012-2022
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GDP GROWTH135%CURRENT US$
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2022
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 GDP$179BCURRENT US$
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2012-2022
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GDP GROWTH38.8%CURRENT US$
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2022
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GDP PC $104,039CURRENT US$
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2012-2022
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GDP PC GROWTH112%CURRENT US$
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2022
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GDP PC$18,463CURRENT US$
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2012-2022
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GDP PC GROWTH42.2%CURRENT US$
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About

Ireland-Hungary In 2022, Ireland exported $767M to Hungary. The main products that Ireland exported to Hungary are Packaged Medicaments ($122M), Broadcasting Equipment ($96.4M), and Integrated Circuits ($80.8M). During the last 27 years the exports of Ireland to Hungary have increased at an annualized rate of 9.14%, from $72.4M in 1995 to $767M in 2022.

In 2020, Ireland exported services to Hungary worth $210M, with Other business services ($180M), Insurance services ($17.1M), and Transportation ($8M) being the largest in terms of value.

Hungary-Ireland In 2022, Hungary exported $611M to Ireland. The main products that Hungary exported to Ireland were Computers ($312M), Cars ($43.6M), and Packaged Medicaments ($19.3M). During the last 27 years the exports of Hungary to Ireland have increased at an annualized rate of 13.1%, from $22.1M in 1995 to $611M in 2022.

In 2020, Hungary exported services to Ireland worth $513M, with Computer and information services ($216M), Other business services ($194M), and Transportation ($66.8M) being the largest in terms of value.

Comparison In 2022,  Ireland ranked 16 in the Economic Complexity Index (ECI 1.28), and 31 in total exports ($236B). That same year, Hungary ranked 13 in the Economic Complexity Index (ECI 1.36), and 35 in total exports ($145B).

Latest Trends

January, 2024

About

Overview In January 2024, Ireland exported €42.3M and imported €64.6M from Hungary, resulting in a negative trade balance of €22.3M. Between January 2023 and January 2024 the exports of Ireland have decreased by €-19.7M (-31.8%) from €62M to €42.3M, while imports increased by €10.6M (19.6%) from €54M to €64.6M.

Trade In January 2024, the top exports of Ireland to Hungary were Medicinal and pharmaceutical products (€43.6M), Essential oils, perfume materials, toilet preparations... (€2.66M), Chemical materials and products, n.e.s. (€2.48M), Machinery specialised for particular industries (€2.36M), and Miscellaneous manufactured articles, n.e.s. (€1.91M). In January 2024 the top imports of Ireland from Hungary were Office machines and automatic data processing... (€28.7M), Power generating machinery and equipment (€4.2M), Photographic apparatus, optical goods, watches and... (€3.55M), Machinery specialised for particular industries (€3.4M), and Medicinal and pharmaceutical products (€2.42M).

Growth In January 2024, the decrease in Ireland's year-by-year exports to Hungary was explained primarily by an decrease in product exports in Office machines and automatic data processing... (€-1.67M or -59.9%), Miscellaneous manufactured articles, n.e.s. (€-227k or -10.6%), and General industrial machinery and parts, n.e.s. (€-167k or -16.7%). In January 2024, the increase in Ireland's year-by-year imports  from Hungary was explained primarily by an increase in product imports  in Office machines and automatic data processing... (€20.1M or 233%), Power generating machinery and equipment (€4.17M or 13.5k%), and Machinery specialised for particular industries (€2.18M or 178%).

Latest Trade

Flow
Time Scale
Value
EXPORT GROWTH (January 2023 - January 2024)€-19.7M(-31.8%)
IMPORT GROWTH (January 2023 - January 2024)€10.6M(19.6%)

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

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

For full datasets download visit Bulk Download page.

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Ireland exported $767M to Hungary. The main products exported from Ireland to Hungary were Packaged Medicaments ($122M), Broadcasting Equipment ($96.4M), and Integrated Circuits ($80.8M). During the last 27 years the exports of Ireland to Hungary have increased at an annualized rate of 9.14%, from $72.4M in 1995 to $767M in 2022.

In 2022, Hungary exported $611M to Ireland. The main products exported from Hungary to Ireland were Computers ($312M), Cars ($43.6M), and Packaged Medicaments ($19.3M). During the last 27 years the exports of Hungary to Ireland have increased at an annualized rate of 13.1%, from $22.1M in 1995 to $611M in 2022.

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

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

Market Competitiveness

Color
Ireland
Top DestinationUnited States$70.7B
Hungary
Top DestinationGermany$35.5B

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

In 2021, countries that imported more from Ireland than Hungary were United States ($70.7B), United Kingdom ($19B), and China ($16.7B).

In 2021, countries that imported more from Hungary than Ireland were Romania ($7.94B), Germany ($35.5B), and Slovakia ($6.78B).

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

Comparative Advantage Ireland - Hungary

Flow
Scale

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

During 2022, Ireland had a large net trade with Hungary in the exports of Machines ($335M), Chemical Products ($322M), and Plastics and Rubbers ($36M).

During 2022, Hungary had a large net trade with Ireland in the exports of Machines ($431M), Chemical Products ($52.5M), and Transportation ($47.4M).

Service Trade

Bilateral Service Trade

In 2020, Ireland exported services to Hungary worth $210M, with Other business services ($180M), Insurance services ($17.1M), and Transportation ($8M) being the largest in terms of value.

In 2020, Hungary exported services to Ireland worth $513M, with Computer and information services ($216M), Other business services ($194M), and Transportation ($66.8M) being the largest in terms of value.

Service trade data is presented based on availability.

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

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

Economic Complexity

Competitive Landscape

This visualization show the product space at the HS4 level colored from blue to yellow.  This mean that the more blue a dot/product is, the more Ireland has comparative advantage over Hungary. Similarly, the more yellow a dot/product is, the more Hungary has comparative advantage over Ireland.

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

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