North Macedonia (MKD) and Hungary (HUN) Trade | The Observatory of Economic Complexity

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North Macedonia-Hungary Trade: In 2023, North Macedonia exported $324M to Hungary. The main products that North Macedonia exported to Hungary were Motor vehicles; parts and accessories (8701 to 8705) ($81.3M), Insulated Wire ($64.2M), and Electric Heaters ($44.1M). Over the past 5 years the exports of North Macedonia to Hungary have increased at an annualized rate of 14.3%, from $166M in 2018 to $324M in 2023.

In 2023, North Macedonia did not export any services to Hungary.

Hungary-North Macedonia Trade: In 2023, Hungary exported $314M to North Macedonia. The main products that Hungary exported to North Macedonia were Other Leather Articles ($49.4M), Laboratory Ceramic Ware ($36.2M), and Electricity ($35.3M). Over the past 5 years the exports of Hungary to North Macedonia have increased at an annualized rate of 2.06%, from $284M in 2018 to $314M in 2023.

In 2023, Hungary did not export any services to North Macedonia.

Comparison In 2023, North Macedonia ranked 104 in total exports ($10.1B), and does not have data regarding Economic Complexity Index. 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, North Macedonia exported $324M to Hungary. The main products exported from North Macedonia to Hungary were Motor vehicles; parts and accessories (8701 to 8705) ($81.3M), Insulated Wire ($64.2M), and Electric Heaters ($44.1M). During the last 5 years the exports of North Macedonia to Hungary have increased at an annualized rate of 14.3%, from $166M in 2018 to $324M in 2023.

In 2018, Hungary exported $314M to North Macedonia. The main products exported from Hungary to North Macedonia were Other Leather Articles ($49.4M), Laboratory Ceramic Ware ($36.2M), and Electricity ($35.3M). During the last 5 years the exports of Hungary to North Macedonia have increased at an annualized rate of 2.06%, from $284M in 2023 to $314M in 2018.

Exports from North Macedonia () to Hungary () (2023)

Exports from Hungary () to North Macedonia () (2023)

Latest Data

Trade between North Macedonia () and Hungary ()

North Macedonia Exports

Date

Hungary Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

North Macedonia
Top DestinationGermany$4B

Hungary
Top DestinationGermany$37.4B

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

In 2023, countries that imported more from North Macedonia than Hungary included Albania ($150M), Belize ($322k), and Saint Pierre and Miquelon ($31.3k).

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

Difference in imports from Hungary () and North Macedonia () (2023)

Comparative Advantage North Macedonia - Hungary

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, North Macedonia had a large net trade with Hungary in the exports of Machines ($165M), Transportation ($81.5M), and Miscellaneous ($32.6M).

During 2018, Hungary had a large net trade with North Macedonia in the exports of Machines ($60.8M), Animal Hides ($50M), and Mineral Products ($38M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential North Macedonia Hungary+$8.43MInsulated Wire

Top Product Potential Hungary North Macedonia+$6.52MCars

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 North Macedonia and Hungary. This means that a dot/product with the flag of North Macedonia indicates it has a comparative advantage over Hungary. Similarly, a dot/product with the flag of Hungary indicates it has a comparative advantage over North Macedonia.

About

Historical Data

Bilateral Trade by Products

Exports from North Macedonia () to Hungary () (2023)

Exports from Hungary () to North Macedonia () (2023)

Latest Data

Trade between North Macedonia () and Hungary ()

North Macedonia Exports

Hungary Exports

Market Competitiveness

Difference in imports from Hungary () and North Macedonia () (2023)

Comparative Advantage North Macedonia - Hungary

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of North Macedonia () and Hungary () (2023)

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