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2022
Flag → Flag
Exports $128MRnk 52 / 209
2022
Flag → Flag
Top Product $78.1MRaw Aluminium
2022
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Exports $417MRnk 41 / 205
2022
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Top Product $40.1MCars
2022
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Economic Complexity (ECI) ECI 0.54Rnk 43 / 133
2022
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Economic Complexity (ECI) ECI 1.38Rnk 14 / 133
2022
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GDP$579BCURRENT US$
Rnk 24 / 186
2012-2022
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GDP GROWTH13%CURRENT US$
Rnk 141 / 186
2022
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 GDP$179BCURRENT US$
Rnk 57 / 186
2012-2022
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GDP GROWTH38.8%CURRENT US$
Rnk 86 / 186
2022
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GDP PC $106,149CURRENT US$
Rnk 3 / 186
2012-2022
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GDP PC GROWTH3.89%CURRENT US$
Rnk 131 / 186
2022
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GDP PC$18,463CURRENT US$
Rnk 55 / 186
2012-2022
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GDP PC GROWTH42.2%CURRENT US$
Rnk 44 / 186

About

Norway-Hungary Trade: In 2022, Norway exported $128M to Hungary. The main products that Norway exported to Hungary were Raw Aluminium ($78.1M), Broadcasting Equipment ($9.91M), and Aluminium Plating ($2.51M). Over the past 5 years the exports of Norway to Hungary have increased at an annualized rate of 13.4%, from $68M in 2017 to $128M in 2022.

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 2022, Hungary exported $417M to Norway. The main products that Hungary exported to Norway were Cars ($40.1M), Computers ($39.3M), and Video Displays ($35M). Over the past 5 years the exports of Hungary to Norway have increased at an annualized rate of 10.1%,  from $259M in 2017 to $417M in 2022.

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 2022,  Norway ranked 43 in the Economic Complexity Index (ECI 0.54), and 28 in total exports ($285B). That same year, Hungary ranked 14 in the Economic Complexity Index (ECI 1.38), and 35 in total exports ($145B).

Latest Trends

October, 2024

About

Overview In October 2024, Norway exported NOK106M and imported NOK1.81B from Hungary, resulting in a negative trade balance of NOK1.71B. Between October 2023 and October 2024 the exports of Norway have decreased by NOK-71.7M (-40.3%) from NOK178M to NOK106M, while imports increased by NOK1.3B (255%) from NOK511M to NOK1.81B.

Trade In October 2024, the top exports of Norway to Hungary were Non-ferrous metals (NOK102M), Inorganic chemicals (NOK7.97M), Telecommunications and sound-recording and reproducing apparatus... (NOK5.07M), Professional, scientific and controlling instruments and... (NOK4.54M), and Road vehicles (including air-cushion vehicles) (NOK3.17M). In October 2024 the top imports of Norway from Hungary were Telecommunications and sound-recording and reproducing apparatus... (NOK63.3M), Electrical machinery, apparatus and appliances, n.e.s.,... (NOK35.8M), Feeding stuff for animals (not including... (NOK34.3M), General industrial machinery and equipment, n.e.s.,... (NOK28.3M), and Road vehicles (including air-cushion vehicles) (NOK22.5M).

Growth In October 2024, the decrease in Norway's year-by-year exports to Hungary was explained primarily by an decrease in product exports in Inorganic chemicals (NOK-9.78M or -55.1%), Telecommunications and sound-recording and reproducing apparatus... (NOK-6.87M or -57.5%), and Plastics in primary forms (NOK-4.81M or -96.3%). In October 2024, the increase in Norway's year-by-year imports  from Hungary was explained primarily by an increase in product imports  in Feeding stuff for animals (not including... (NOK14M or 68.5%), General industrial machinery and equipment, n.e.s.,... (NOK12M or 73.6%), and Office machines and automatic data-processing machines (NOK8.17M or 80.6%).

Latest Trade

Time Scale
Flow
Value
EXPORT GROWTH (October 2023 - October 2024)NOK-71.7M(-40.3%)
IMPORT GROWTH (October 2023 - October 2024)NOK1.3B(255%)

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

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Norway exported $128M to Hungary. The main products exported from Norway to Hungary were Raw Aluminium ($78.1M), Broadcasting Equipment ($9.91M), and Aluminium Plating ($2.51M). During the last 5 years the exports of Norway to Hungary have increased at an annualized rate of 13.4%, from $68M in 2017 to $128M in 2022.

In 2017, Hungary exported $417M to Norway. The main products exported from Hungary to Norway were Cars ($40.1M), Computers ($39.3M), and Video Displays ($35M). During the last 5 years the exports of Hungary to Norway have increased at an annualized rate of 10.1%, from $259M in 2022 to $417M in 2017.

Exports from Norway (Flag) to Hungary (Flag) (2022)

Exports from Hungary (Flag) to Norway (Flag) (2022)

Market Competitiveness

Color
Norway
Top DestinationGermany$78.1B
Hungary
Top DestinationGermany$35.5B

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 2022, countries that imported more from Norway than Hungary included United Kingdom ($59.1B), Germany ($78.1B), and France ($25.9B).

In 2022, countries that imported more from Hungary than Norway included Romania ($7.94B), Slovakia ($6.78B), and Austria ($6.32B).

Difference in imports from Hungary (Flag) and Norway (Flag) (2022)

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 2022, Norway had a large net trade with Hungary in the exports of Metals ($84M), Machines ($22.9M), and Transportation ($3.45M).

During 2017, Hungary had a large net trade with Norway in the exports of Machines ($170M), Transportation ($54.5M), and Foodstuffs ($51.7M).

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) (2022)

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