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2022
Flag → Flag
Exports $415MRnk 27 / 208
2022
Flag → Flag
Top Product $54.7MRadio Receivers
2022
Flag → Flag
Exports $730MRnk 30 / 205
2022
Flag → Flag
Top Product $133MSpark-Ignition Engines
2022
Flag
Economic Complexity (ECI) ECI 0.57Rnk 42 / 133
2022
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Economic Complexity (ECI) ECI 1.38Rnk 14 / 133
2022
Flag  
GDP$252BCURRENT US$
Rnk 49 / 186
2012-2022
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GDP GROWTH16.5%CURRENT US$
Rnk 132 / 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 $24,275CURRENT US$
Rnk 46 / 186
2012-2022
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GDP PC GROWTH18%CURRENT US$
Rnk 94 / 186
2022
Flag
GDP PC$18,463CURRENT US$
Rnk 55 / 186
2012-2022
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GDP PC GROWTH42.2%CURRENT US$
Rnk 44 / 186

About

Portugal-Hungary Trade: In 2022, Portugal exported $415M to Hungary. The main products that Portugal exported to Hungary were Radio Receivers ($54.7M), Cars ($43M), and Revolution Counters ($28.8M). Over the past 5 years the exports of Portugal to Hungary have increased at an annualized rate of 10.5%, from $252M in 2017 to $415M in 2022.

In 2020, Portugal exported services to Hungary worth $11.4M, with Travel ($11.4M) being the largest in terms of value.

Hungary-Portugal Trade: In 2022, Hungary exported $730M to Portugal. The main products that Hungary exported to Portugal were Spark-Ignition Engines ($133M), Cars ($87.8M), and Motor vehicles; parts and accessories (8701 to 8705) ($44.1M). Over the past 5 years the exports of Hungary to Portugal have increased at an annualized rate of 8.96%,  from $475M in 2017 to $730M in 2022.

In 2020, Hungary exported services to Portugal worth $23.5M, with Royalties and license fees ($7.88M), Transportation ($6.4M), and Other business services ($6.05M) being the largest in terms of value.

Comparison: In 2022,  Portugal ranked 42 in the Economic Complexity Index (ECI 0.57), and 48 in total exports ($81.7B). That same year, Hungary ranked 14 in the Economic Complexity Index (ECI 1.38), and 35 in total exports ($145B).

Latest Trends

September, 2024

About

Overview In September 2024, Portugal exported €69.3M and imported €89.3M from Hungary, resulting in a negative trade balance of €20M. Between September 2023 and September 2024 the exports of Portugal have increased by €37.7M (119%) from €31.6M to €69.3M, while imports increased by €46.5M (108%) from €42.9M to €89.3M.

Trade In September 2024, the top exports of Portugal to Hungary were Electrical machinery and electronics (€11.2M), Cars, tractors, trucks & parts thereof. (€3.4M), Optical, photo, & film equipment; medical... (€2.71M), Rubber & articles thereof (€1.42M), and Plastics & articles thereof (€1.41M). In September 2024 the top imports of Portugal from Hungary were Cars, tractors, trucks & parts thereof. (€12.7M), Machinery, mechanical appliances, & parts (€9.71M), Electrical machinery and electronics (€5.77M), Organic chemicals (€5.53M), and Pharmaceutical products (€3.86M).

Growth In September 2024, the increase in Portugal's year-by-year exports to Hungary was explained primarily by an increase in product exports in Electrical machinery and electronics (€1.54M or 15.9%), Optical, photo, & film equipment; medical... (€949k or 53.8%), and Pharmaceutical products (€538k or 110%). In September 2024, the increase in Portugal's year-by-year imports  from Hungary was explained primarily by an increase in product imports  in Cars, tractors, trucks & parts thereof. (€3.7M or 41.3%), Organic chemicals (€2.67M or 93.6%), and Machinery, mechanical appliances, & parts (€2.34M or 31.9%).

Latest Trade

Time Scale
Flow
Value
EXPORT GROWTH (September 2023 - September 2024)€37.7M(119%)
IMPORT GROWTH (September 2023 - September 2024)€46.5M(108%)

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

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

For full datasets download visit Bulk Download page.

Explore Hungary and Portugal Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Portugal exported $415M to Hungary. The main products exported from Portugal to Hungary were Radio Receivers ($54.7M), Cars ($43M), and Revolution Counters ($28.8M). During the last 5 years the exports of Portugal to Hungary have increased at an annualized rate of 10.5%, from $252M in 2017 to $415M in 2022.

In 2017, Hungary exported $730M to Portugal. The main products exported from Hungary to Portugal were Spark-Ignition Engines ($133M), Cars ($87.8M), and Motor vehicles; parts and accessories (8701 to 8705) ($44.1M). During the last 5 years the exports of Hungary to Portugal have increased at an annualized rate of 8.96%, from $475M in 2022 to $730M in 2017.

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

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

Market Competitiveness

Color
Portugal
Top DestinationSpain$20.5B
Hungary
Top DestinationGermany$35.5B

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

In 2022, countries that imported more from Portugal than Hungary included Spain ($20.5B), France ($9.49B), and Angola ($1.59B).

In 2022, countries that imported more from Hungary than Portugal included Germany ($35.5B), Romania ($7.94B), and Slovakia ($6.78B).

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

Comparative Advantage Portugal - Hungary

Flow
Scale

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

During 2022, Portugal had a large net trade with Hungary in the exports of Machines ($184M), Transportation ($79.7M), and Instruments ($30.6M).

During 2017, Hungary had a large net trade with Portugal in the exports of Machines ($316M), Transportation ($134M), and Chemical Products ($122M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Portugal Hungary+$24.2MMotor vehicles; parts and accessories (8701 to 8705)
Top Product Potential Hungary Portugal+$51.5MCars

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 2020, Portugal exported services to Hungary worth $11.4M, with Travel ($11.4M) being the largest in terms of value.

In 2020, Hungary exported services to Portugal worth $23.5M, with Royalties and license fees ($7.88M), Transportation ($6.4M), and Other business services ($6.05M) being the largest in terms of value.

Service trade data is presented based on availability.

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

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

Service Trade

Economic Complexity

Competitive Landscape

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

Product Space of Portugal (Flag) and Hungary (Flag) (2022)

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