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2023
Flag → Flag
Exports $393MRnk 31 / 211
2023
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Top Product $55.8MRadio Receivers
2023
Flag → Flag
Exports $795MRnk 30 / 201
2023
Flag → Flag
Top Product $130MCars
2023
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Economic Complexity (ECI) ECI 0.57Rnk 42 / 132
2023
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Economic Complexity (ECI) ECI 1.41Rnk 14 / 132
2023
Flag  
GDP$289BCURRENT US$
Rnk 48 / 195
2013-2023
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GDP GROWTH27.5%CURRENT US$
Rnk 119 / 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 $27,331CURRENT US$
Rnk 50 / 195
2013-2023
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GDP PC GROWTH26.1%CURRENT US$
Rnk 84 / 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

Portugal-Hungary Trade: In 2023, Portugal exported $393M to Hungary. The main products that Portugal exported to Hungary were Radio Receivers ($55.8M), Cars ($46.5M), and Revolution Counters ($25.6M). Over the past 5 years the exports of Portugal to Hungary have increased at an annualized rate of 5.83%, from $296M in 2018 to $393M in 2023.

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 2023, Hungary exported $795M to Portugal. The main products that Hungary exported to Portugal were Cars ($130M), Integrated Circuits ($75.4M), and Spark-Ignition Engines ($73.5M). Over the past 5 years the exports of Hungary to Portugal have increased at an annualized rate of 5.46%,  from $609M in 2018 to $795M in 2023.

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 2023,  Portugal ranked 42 in the Economic Complexity Index (ECI 0.57), and 46 in total exports ($83B). That same year, Hungary ranked 14 in the Economic Complexity Index (ECI 1.41), and 35 in total exports ($150B).

Latest Trends

November, 2024

About

Overview In November 2024, Portugal exported €35.2M and imported €60.3M from Hungary, resulting in a negative trade balance of €25.1M. Between November 2023 and November 2024 the exports of Portugal have decreased by €-806k (-2.24%) from €36M to €35.2M, while imports increased by €7.58M (14.4%) from €52.7M to €60.3M.

Trade In November 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 November 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 November 2024, the decrease in Portugal's year-by-year exports to Hungary was explained primarily by an decrease in product exports in Cars, tractors, trucks & parts thereof. (€-1.91M or -35.9%), Machinery, mechanical appliances, & parts (€-1.22M or -46.9%), and Miscellaneous edible preparations (€-568k or -79.2%). In November 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 (November 2023 - November 2024)€-806k(-2.24%)
IMPORT GROWTH (November 2023 - November 2024)€7.58M(14.4%)

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

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Portugal exported $393M to Hungary. The main products exported from Portugal to Hungary were Radio Receivers ($55.8M), Cars ($46.5M), and Revolution Counters ($25.6M). During the last 5 years the exports of Portugal to Hungary have increased at an annualized rate of 5.83%, from $296M in 2018 to $393M in 2023.

In 2018, Hungary exported $795M to Portugal. The main products exported from Hungary to Portugal were Cars ($130M), Integrated Circuits ($75.4M), and Spark-Ignition Engines ($73.5M). During the last 5 years the exports of Hungary to Portugal have increased at an annualized rate of 5.46%, from $609M in 2023 to $795M in 2018.

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

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

Market Competitiveness

Color
Portugal
Top DestinationSpain$17.7B
Hungary
Top DestinationGermany$37.4B

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 2023, countries that imported more from Portugal than Hungary included Spain ($17.7B), France ($9.19B), and Canada ($2.39B).

In 2023, countries that imported more from Hungary than Portugal included Germany ($37.4B), Romania ($8.43B), and Slovakia ($6.54B).

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

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 2023, Portugal had a large net trade with Hungary in the exports of Machines ($168M), Transportation ($81.7M), and Instruments ($27.9M).

During 2018, Hungary had a large net trade with Portugal in the exports of Machines ($293M), Transportation ($181M), and Chemical Products ($131M).

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) (2023)

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