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2023
Flag → Flag
Exports $197MRnk 50 / 205
2023
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Top Product $87.1MRaw Aluminium
2023
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Exports $510MRnk 38 / 201
2023
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Top Product $66.2MVideo Displays
2023
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Economic Complexity (ECI) ECI 0.47Rnk 44 / 132
2023
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Economic Complexity (ECI) ECI 1.41Rnk 14 / 132
2023
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GDP$485BCURRENT US$
Rnk 31 / 195
2013-2023
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GDP GROWTH-7.74%CURRENT US$
Rnk 180 / 195
2023
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 GDP$212BCURRENT US$
Rnk 56 / 195
2013-2023
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GDP GROWTH56.5%CURRENT US$
Rnk 60 / 195
2023
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GDP PC $87,925CURRENT US$
Rnk 7 / 195
2013-2023
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GDP PC GROWTH-15.1%CURRENT US$
Rnk 171 / 195
2023
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GDP PC$22,142CURRENT US$
Rnk 58 / 196
2013-2023
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GDP PC GROWTH61.4%CURRENT US$
Rnk 29 / 195

About

Norway-Hungary Trade: In 2023, Norway exported $197M to Hungary. The main products that Norway exported to Hungary were Raw Aluminium ($87.1M), Military Weapons ($46M), and Calculators ($11.5M). Over the past 5 years the exports of Norway to Hungary have increased at an annualized rate of 16.2%, from $92.8M in 2018 to $197M in 2023.

In 2009, Norway exported services to Hungary worth $19.3M, with Travel ($8.15M), Communications services ($5.59M), and Other business services ($2.88M) being the largest in terms of value.

Hungary-Norway Trade: In 2023, Hungary exported $510M to Norway. The main products that Hungary exported to Norway were Video Displays ($66.2M), Computers ($53.6M), and Eyewear ($24.6M). Over the past 5 years the exports of Hungary to Norway have increased at an annualized rate of 7.32%,  from $358M in 2018 to $510M in 2023.

In 2020, Hungary exported services to Norway worth $107M, with Computer and information services ($44.7M), Transportation ($24.3M), and Travel ($19.3M) being the largest in terms of value.

Comparison: In 2023,  Norway ranked 44 in the Economic Complexity Index (ECI 0.47), and 33 in total exports ($187B). That same year, Hungary ranked 14 in the Economic Complexity Index (ECI 1.41), and 35 in total exports ($150B).

Latest Trends

December, 2024

About

Overview In December 2024, Norway exported NOK96.6M and imported NOK882M from Hungary, resulting in a negative trade balance of NOK785M. Between December 2023 and December 2024 the exports of Norway have decreased by NOK-12.2M (-11.2%) from NOK109M to NOK96.6M, while imports increased by NOK404M (84.5%) from NOK478M to NOK882M.

Trade In December 2024, the top exports of Norway to Hungary were Non-ferrous metals (NOK84.8M), Office machines and automatic data-processing machines (NOK21.6M), Telecommunications and sound-recording and reproducing apparatus... (NOK10.3M), Inorganic chemicals (NOK9.27M), and Textile yarn, fabrics, made-up articles, n.e.s.,... (NOK7.96M). In December 2024 the top imports of Norway from Hungary were Telecommunications and sound-recording and reproducing apparatus... (NOK75.2M), Electrical machinery, apparatus and appliances, n.e.s.,... (NOK35.8M), Feeding stuff for animals (not including... (NOK34.5M), Miscellaneous manufactured articles, n.e.s. (NOK25.7M), and Medicinal and pharmaceutical products (NOK25.5M).

Growth In December 2024, the decrease in Norway's year-by-year exports to Hungary was explained primarily by an decrease in product exports in Non-ferrous metals (NOK-16.9M or -16.6%), Professional, scientific and controlling instruments and... (NOK-4.42M or -97.4%), and Power-generating machinery and equipment (NOK-2.21M or -81.5%). In December 2024, the increase in Norway's year-by-year imports  from Hungary was explained primarily by an increase in product imports  in Prefabricated buildings; sanitary, plumbing, heating and... (NOK12.6M or 212%), Telecommunications and sound-recording and reproducing apparatus... (NOK11.9M or 18.8%), and Medicinal and pharmaceutical products (NOK10.7M or 72.6%).

Latest Trade

Time Scale
Flow
Value
EXPORT GROWTH (December 2023 - December 2024)NOK-12.2M(-11.2%)
IMPORT GROWTH (December 2023 - December 2024)NOK404M(84.5%)

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

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

For full datasets download visit Bulk Download page.

Explore Hungary and Norway Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Norway exported $197M to Hungary. The main products exported from Norway to Hungary were Raw Aluminium ($87.1M), Military Weapons ($46M), and Calculators ($11.5M). During the last 5 years the exports of Norway to Hungary have increased at an annualized rate of 16.2%, from $92.8M in 2018 to $197M in 2023.

In 2018, Hungary exported $510M to Norway. The main products exported from Hungary to Norway were Video Displays ($66.2M), Computers ($53.6M), and Eyewear ($24.6M). During the last 5 years the exports of Hungary to Norway have increased at an annualized rate of 7.32%, from $358M in 2023 to $510M in 2018.

Exports from Norway (Flag) to Hungary (Flag) (2023)

Exports from Hungary (Flag) to Norway (Flag) (2023)

Market Competitiveness

Color
Norway
Top DestinationGermany$33.8B
Hungary
Top DestinationGermany$37.4B

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

In 2023, countries that imported more from Norway than Hungary included United Kingdom ($32.6B), Sweden ($15.9B), and Denmark ($12.7B).

In 2023, countries that imported more from Hungary than Norway included Romania ($8.43B), Slovakia ($6.54B), and Austria ($5.53B).

Difference in imports from Hungary (Flag) and Norway (Flag) (2023)

Comparative Advantage Norway - Hungary

Flow
Scale

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

During 2023, Norway had a large net trade with Hungary in the exports of Metals ($90M), Weapons ($47.4M), and Machines ($43.2M).

During 2018, Hungary had a large net trade with Norway in the exports of Machines ($232M), Foodstuffs ($68.8M), and Instruments ($44M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Norway Hungary+$8.07MPetroleum Gas
Top Product Potential Hungary Norway+$45.1MCars

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

In 2009, Norway exported services to Hungary worth $19.3M, with Travel ($8.15M), Communications services ($5.59M), and Other business services ($2.88M) being the largest in terms of value.

In 2020, Hungary exported services to Norway worth $107M, with Computer and information services ($44.7M), Transportation ($24.3M), and Travel ($19.3M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Norway (Flag) to Hungary (Flag) (2009)

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

Service Trade

Economic Complexity

Competitive Landscape

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

Product Space of Norway (Flag) and Hungary (Flag) (2023)

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