Kuwait (KWT) and Hungary (HUN) Trade | The Observatory of Economic Complexity

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Kuwait-Hungary Trade: In 2023, Kuwait exported $3.85M to Hungary. The main products that Kuwait exported to Hungary were Broadcasting Equipment ($2.62M), Other Heating Machinery ($338k), and Telephones ($289k). Over the past 5 years the exports of Kuwait to Hungary have increased at an annualized rate of 63.8%, from $326k in 2018 to $3.85M in 2023.

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

Hungary-Kuwait Trade: In 2023, Hungary exported $96.9M to Kuwait. The main products that Hungary exported to Kuwait were Cars ($26.9M), Gas Turbines ($24.5M), and Rubber Pipes ($3.39M). Over the past 5 years the exports of Hungary to Kuwait have increased at an annualized rate of 0.33%, from $95.3M in 2018 to $96.9M in 2023.

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

Comparison: In 2023, Kuwait ranked 53 in the Economic Complexity Index (ECI 0.21), and 47 in total exports ($71B). That same year, Hungary ranked 14 in the Economic Complexity Index (ECI 1.41), and 35 in total exports ($150B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Kuwait exported $3.85M to Hungary. The main products exported from Kuwait to Hungary were Broadcasting Equipment ($2.62M), Other Heating Machinery ($338k), and Telephones ($289k). During the last 5 years the exports of Kuwait to Hungary have increased at an annualized rate of 63.8%, from $326k in 2018 to $3.85M in 2023.

In 2018, Hungary exported $96.9M to Kuwait. The main products exported from Hungary to Kuwait were Cars ($26.9M), Gas Turbines ($24.5M), and Rubber Pipes ($3.39M). During the last 5 years the exports of Hungary to Kuwait have increased at an annualized rate of 0.33%, from $95.3M in 2023 to $96.9M in 2018.

Exports from Kuwait () to Hungary () (2023)

Exports from Hungary () to Kuwait () (2023)

Latest Data

Trade between Kuwait () and Hungary ()

Kuwait Exports

Date

Hungary Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Kuwait
Top DestinationChina$17.4B

Hungary
Top DestinationGermany$37.4B

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

In 2023, countries that imported more from Kuwait than Hungary included China ($17.4B), India ($9.51B), and Japan ($9.13B).

In 2023, countries that imported more from Hungary than Kuwait included Germany ($37.4B), Italy ($9.08B), and Romania ($8.43B).

Difference in imports from Hungary () and Kuwait () (2023)

Comparative Advantage Kuwait - Hungary

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Kuwait had a large net trade with Hungary in the exports of Machines ($3.7M), Transportation ($48.9k), and Metals ($36k).

During 2018, Hungary had a large net trade with Kuwait in the exports of Machines ($38.4M), Transportation ($29.5M), and Plastics and Rubbers ($5.39M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Kuwait Hungary+$988kTelephones

Top Product Potential Hungary Kuwait+$21.2MCars

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

Year

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

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Historical Data

Bilateral Trade by Products

Exports from Kuwait () to Hungary () (2023)

Exports from Hungary () to Kuwait () (2023)

Latest Data

Trade between Kuwait () and Hungary ()

Kuwait Exports

Hungary Exports

Market Competitiveness

Difference in imports from Hungary () and Kuwait () (2023)

Comparative Advantage Kuwait - Hungary

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Kuwait () and Hungary () (2023)

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