Libya (LBY) and Hungary (HUN) Trade | The Observatory of Economic Complexity

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Libya-Hungary Trade: In 2023, Libya exported $155k to Hungary. The main products that Libya exported to Hungary were Broadcasting Equipment ($70.3k), Hot-Rolled Iron ($33.3k), and Office Machine Parts ($18.4k). Over the past 5 years the exports of Libya to Hungary have decreased at an annualized rate of 71.5%, from $81.6M in 2018 to $155k in 2023.

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

Hungary-Libya Trade: In 2023, Hungary exported $17.2M to Libya. The main products that Hungary exported to Libya were Gas Turbines ($5.46M), Other Edible Preparations ($4.33M), and Cheese ($2.2M). Over the past 5 years the exports of Hungary to Libya have increased at an annualized rate of 14.9%, from $8.59M in 2018 to $17.2M in 2023.

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

Comparison: In 2023, Libya ranked 102 in the Economic Complexity Index (ECI -0.84), and 67 in total exports ($35.4B). 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, Libya exported $155k to Hungary. The main products exported from Libya to Hungary were Broadcasting Equipment ($70.3k), Hot-Rolled Iron ($33.3k), and Office Machine Parts ($18.4k). During the last 5 years the exports of Libya to Hungary have decreased at an annualized rate of 71.5%, from $81.6M in 2018 to $155k in 2023.

In 2018, Hungary exported $17.2M to Libya. The main products exported from Hungary to Libya were Gas Turbines ($5.46M), Other Edible Preparations ($4.33M), and Cheese ($2.2M). During the last 5 years the exports of Hungary to Libya have increased at an annualized rate of 14.9%, from $8.59M in 2023 to $17.2M in 2018.

Exports from Libya () to Hungary () (2023)

Exports from Hungary () to Libya () (2023)

Latest Data

Trade between Libya () and Hungary ()

Hungary Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Libya
Top DestinationItaly$7.96B

Hungary
Top DestinationGermany$37.4B

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

In 2023, countries that imported more from Libya than Hungary included Greece ($2.2B), Thailand ($1.26B), and United Arab Emirates ($1.85B).

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

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

Comparative Advantage Libya - Hungary

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Libya had a large net trade with Hungary in the exports of Machines ($121k), Metals ($33.3k), and Instruments ($5).

During 2018, Hungary had a large net trade with Libya in the exports of Machines ($5.88M), Foodstuffs ($4.48M), and Animal Products ($2.43M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Libya Hungary+$229kTelephones

Top Product Potential Hungary Libya+$1.37MRefined 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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Economic Complexity

Competitive Landscape

Year

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

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Historical Data

Bilateral Trade by Products

Exports from Libya () to Hungary () (2023)

Exports from Hungary () to Libya () (2023)

Latest Data

Trade between Libya () and Hungary ()

Hungary Exports

Market Competitiveness

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

Comparative Advantage Libya - Hungary

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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