Mexico (MEX) and Hungary (HUN) Trade | The Observatory of Economic Complexity

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Mexico-Hungary Trade: In 2023, Mexico exported $393M to Hungary. The main products that Mexico exported to Hungary were Office Machine Parts ($59M), Centrifuges ($53.4M), and Integrated Circuits ($34.4M). Over the past 5 years the exports of Mexico to Hungary have increased at an annualized rate of 12.4%, from $219M in 2018 to $393M in 2023.

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

Hungary-Mexico Trade: In 2023, Hungary exported $1.35B to Mexico. The main products that Hungary exported to Mexico were Combustion Engines ($145M), Motor vehicles; parts and accessories (8701 to 8705) ($133M), and Cars ($122M). Over the past 5 years the exports of Hungary to Mexico have increased at an annualized rate of 1.24%, from $1.18B in 2018 to $1.35B in 2023.

In 2020, Hungary exported services to Mexico worth $25.8M, with Travel ($8.91M), Transportation ($6.05M), and Computer and information services ($4.11M) being the largest in terms of value.

Comparison: In 2023, Mexico ranked 25 in the Economic Complexity Index (ECI 1.09), and 8 in total exports ($603B). 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, Mexico exported $393M to Hungary. The main products exported from Mexico to Hungary were Office Machine Parts ($59M), Centrifuges ($53.4M), and Integrated Circuits ($34.4M). During the last 5 years the exports of Mexico to Hungary have increased at an annualized rate of 12.4%, from $219M in 2018 to $393M in 2023.

In 2018, Hungary exported $1.35B to Mexico. The main products exported from Hungary to Mexico were Combustion Engines ($145M), Motor vehicles; parts and accessories (8701 to 8705) ($133M), and Cars ($122M). During the last 5 years the exports of Hungary to Mexico have increased at an annualized rate of 1.24%, from $1.18B in 2023 to $1.35B in 2018.

Exports from Mexico () to Hungary () (2023)

Exports from Hungary () to Mexico () (2023)

Latest Data

Trade between Mexico () and Hungary ()

Mexico Exports

Date

Hungary Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Mexico
Top DestinationUnited States$456B

Hungary
Top DestinationGermany$37.4B

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

In 2023, countries that imported more from Mexico than Hungary included United States ($456B), Canada ($33B), and China ($15B).

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

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

Comparative Advantage Mexico - Hungary

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Mexico had a large net trade with Hungary in the exports of Machines ($270M), Textiles ($22.7M), and Transportation ($20.1M).

During 2018, Hungary had a large net trade with Mexico in the exports of Machines ($920M), Transportation ($257M), and Instruments ($48.3M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Mexico Hungary+$47.1MComputers

Top Product Potential Hungary Mexico+$96.3MCars

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

Hun Year

In 2020, Hungary exported services to Mexico worth $25.8M, with Travel ($8.91M), Transportation ($6.05M), and Computer and information services ($4.11M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Hungary () to Mexico () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Year

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

About

Historical Data

Bilateral Trade by Products

Exports from Mexico () to Hungary () (2023)

Exports from Hungary () to Mexico () (2023)

Latest Data

Trade between Mexico () and Hungary ()

Mexico Exports

Hungary Exports

Market Competitiveness

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

Comparative Advantage Mexico - Hungary

Potential Exports

Potential Exports

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Bilateral Service Trade

Services Exports from Hungary () to Mexico () (2020)

Service Trade

Economic Complexity

Competitive Landscape

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

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