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2023
Flag → Flag
Exports $562MRnk 48 / 216
2023
Flag → Flag
Top Product $85MElectrical Transformers
2023
Flag → Flag
Exports $247MRnk 50 / 201
2023
Flag → Flag
Top Product $20.8MBroadcasting Equipment
2023
Flag
Economic Complexity (ECI) ECI 0.96Rnk 29 / 132
2023
Flag
Economic Complexity (ECI) ECI 1.41Rnk 14 / 132
2023
Flag  
GDP$515BCURRENT US$
Rnk 26 / 195
2013-2023
Flag
GDP GROWTH22.5%CURRENT US$
Rnk 133 / 195
2023
Flag
 GDP$212BCURRENT US$
Rnk 56 / 195
2013-2023
Flag
GDP GROWTH56.5%CURRENT US$
Rnk 60 / 195
2023
Flag
GDP PC $7,182CURRENT US$
Rnk 102 / 195
2013-2023
Flag
GDP PC GROWTH19.3%CURRENT US$
Rnk 103 / 195
2023
Flag
GDP PC$22,142CURRENT US$
Rnk 58 / 196
2013-2023
Flag
GDP PC GROWTH61.4%CURRENT US$
Rnk 29 / 195

About

Thailand-Hungary Trade: In 2023, Thailand exported $562M to Hungary. The main products that Thailand exported to Hungary were Electrical Transformers ($85M), Valves ($61.1M), and Integrated Circuits ($42.8M). Over the past 5 years the exports of Thailand to Hungary have decreased at an annualized rate of 0.86%, from $587M in 2018 to $562M in 2023.

In 2023, Thailand did not export any services to Hungary.

Hungary-Thailand Trade: In 2023, Hungary exported $247M to Thailand. The main products that Hungary exported to Thailand were Broadcasting Equipment ($20.8M), Cars ($20M), and Motor vehicles; parts and accessories (8701 to 8705) ($16M). Over the past 5 years the exports of Hungary to Thailand have increased at an annualized rate of 1.48%,  from $195M in 2018 to $247M in 2023.

In 2020, Hungary exported services to Thailand worth $2.86M, with Transportation ($1.6M), Other business services ($800k), and Royalties and license fees ($228k) being the largest in terms of value.

Comparison: In 2023,  Thailand ranked 29 in the Economic Complexity Index (ECI 0.96), and 25 in total exports ($332B). 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
Value

In 2023, Thailand exported $562M to Hungary. The main products exported from Thailand to Hungary were Electrical Transformers ($85M), Valves ($61.1M), and Integrated Circuits ($42.8M). During the last 5 years the exports of Thailand to Hungary have decreased at an annualized rate of 0.86%, from $587M in 2018 to $562M in 2023.

In 2018, Hungary exported $247M to Thailand. The main products exported from Hungary to Thailand were Broadcasting Equipment ($20.8M), Cars ($20M), and Motor vehicles; parts and accessories (8701 to 8705) ($16M). During the last 5 years the exports of Hungary to Thailand have increased at an annualized rate of 1.48%, from $195M in 2023 to $247M in 2018.

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

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

Latest Data

Trade between Thailand (Flag) and Hungary (Flag)

Thailand Exports

Hungary Exports

Market Competitiveness

Color
Thailand
Top DestinationUnited States$58.5B
Hungary
Top DestinationGermany$37.4B

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

In 2023, countries that imported more from Thailand than Hungary included United States ($58.5B), China ($44.1B), and Japan ($24.9B).

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

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

Comparative Advantage Thailand - Hungary

Flow
Scale

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

During 2023, Thailand had a large net trade with Hungary in the exports of Machines ($457M), Plastics and Rubbers ($27M), and Transportation ($26.4M).

During 2018, Hungary had a large net trade with Thailand in the exports of Machines ($135M), Transportation ($36.8M), and Instruments ($17.9M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Thailand Hungary+$36.1MIntegrated Circuits
Top Product Potential Hungary Thailand+$29.3MTelephones

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, Hungary exported services to Thailand worth $2.86M, with Transportation ($1.6M), Other business services ($800k), and Royalties and license fees ($228k) being the largest in terms of value.

Service trade data is presented based on availability.

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

Service Trade

Economic Complexity

Competitive Landscape

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

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

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