2022
Flag  
GDP
$25.5TCURRENT US$
Rnk 1 / 186
2012-2022
Flag
GDP GROWTH
56.7%CURRENT US$
Rnk 45 / 186
2022
Flag
 GDP
$179BCURRENT US$
Rnk 57 / 186
2012-2022
Flag
GDP GROWTH
38.8%CURRENT US$
Rnk 86 / 186
2022
Flag
GDP PC 
$76,399CURRENT US$
Rnk 8 / 186
2012-2022
Flag
GDP PC GROWTH
47.5%CURRENT US$
Rnk 39 / 186
2022
Flag
GDP PC
$18,463CURRENT US$
Rnk 55 / 186
2012-2022
Flag
GDP PC GROWTH
42.2%CURRENT US$
Rnk 44 / 186

About

United States-Hungary Trade: In 2022, United States exported $2.79B to Hungary. The main products that United States exported to Hungary were Office Machine Parts ($454M), Gas Turbines ($391M), and Broadcasting Equipment ($224M). Over the past 5 years the exports of United States to Hungary have increased at an annualized rate of 7%, from $1.99B in 2017 to $2.79B in 2022.

In 2017, United States exported services to Hungary worth $1.16B, with Royalties and license fees ($368M), Travel ($299M), and Other business services ($195M) being the largest in terms of value.

Hungary-United States Trade: In 2022, Hungary exported $5.7B to United States. The main products that Hungary exported to United States were Cars ($1.03B), Electric Batteries ($419M), and Computers ($283M). Over the past 5 years the exports of Hungary to United States have increased at an annualized rate of 9.58%,  from $3.61B in 2017 to $5.7B in 2022.

In 2020, Hungary exported services to United States worth $1.72B, with Computer and information services ($427M), Royalties and license fees ($411M), and Other business services ($387M) being the largest in terms of value.

Comparison: In 2022,  United States ranked 10 in the Economic Complexity Index (ECI 1.47), and 2 in total exports ($1.95T). That same year, Hungary ranked 14 in the Economic Complexity Index (ECI 1.38), and 35 in total exports ($145B).

Company data: In 2023, leading companies such as Robert Bosch (1.07k), Hankook Tires (188), and ZF Friedrichshafen (47) were at the forefront of exporting goods from Hungary to the United States. Conversely, Robert Bosch Elektronika Kft 10124 (471), Robert Bosch Automotive Steering Kf (363), and Other (353) were notable for importing products to Hungary from the United States.

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, United States exported $2.79B to Hungary. The main products exported from United States to Hungary were Office Machine Parts ($454M), Gas Turbines ($391M), and Broadcasting Equipment ($224M). During the last 5 years the exports of United States to Hungary have increased at an annualized rate of 7%, from $1.99B in 2017 to $2.79B in 2022.

In 2017, Hungary exported $5.7B to United States. The main products exported from Hungary to United States were Cars ($1.03B), Electric Batteries ($419M), and Computers ($283M). During the last 5 years the exports of Hungary to United States have increased at an annualized rate of 9.58%, from $3.61B in 2022 to $5.7B in 2017.

Exports from United States (Flag) to Hungary (Flag) (2022)

Exports from Hungary (Flag) to United States (Flag) (2022)

Market Competitiveness

Color
United States
Top Destination
Canada$308B
Hungary
Top Destination
Germany$35.5B

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

In 2022, countries that imported more from United States than Hungary included Canada ($308B), Mexico ($294B), and China ($151B).

In 2022, countries that imported more from Hungary than United States included Romania ($7.94B), Slovakia ($6.78B), and Serbia ($3.42B).

Difference in imports from Hungary (Flag) and United States (Flag) (2022)

Comparative Advantage United States - Hungary

Flow
Scale

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

During 2022, United States had a large net trade with Hungary in the exports of Machines ($1.81B), Chemical Products ($219M), and Transportation ($168M).

During 2017, Hungary had a large net trade with United States in the exports of Machines ($2.71B), Transportation ($1.32B), and Plastics and Rubbers ($339M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential United States Hungary+$96.8MIntegrated Circuits
Top Product Potential Hungary United States+$771MCars

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 2017, United States exported services to Hungary worth $1.16B, with Royalties and license fees ($368M), Travel ($299M), and Other business services ($195M) being the largest in terms of value.

In 2020, Hungary exported services to United States worth $1.72B, with Computer and information services ($427M), Royalties and license fees ($411M), and Other business services ($387M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from United States (Flag) to Hungary (Flag) (2017)

Services Exports from Hungary (Flag) to United States (Flag) (2020)

Service Trade

Economic Complexity

Competitive Landscape

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

Product Space of United States (Flag) and Hungary (Flag) (2022)

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