United States (USA) and Hungary (HUN) Trade

2023

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Exports $2.92BRnk 58 / 220

2023

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About

United States-Hungary Trade: In 2023, United States exported $2.92B to Hungary. The main products that United States exported to Hungary were Office Machine Parts ($467M), Gas Turbines ($414M), and Broadcasting Equipment ($219M). Over the past 5 years the exports of United States to Hungary have increased at an annualized rate of 7.23%, from $2.06B in 2018 to $2.92B in 2023.

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 2023, Hungary exported $7.66B to United States. The main products that Hungary exported to United States were Cars ($1.75B), Electric Batteries ($822M), and Computers ($334M). Over the past 5 years the exports of Hungary to United States have increased at an annualized rate of 9.98%, from $4.76B in 2018 to $7.66B in 2023.

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 2023, United States ranked 10 in the Economic Complexity Index (ECI 1.5), and 2 in total exports ($1.86T). That same year, Hungary ranked 14 in the Economic Complexity Index (ECI 1.41), and 35 in total exports ($150B).

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 (365), and Other (356) were notable for importing products to Hungary from the United States.

Latest Trends

November, 2024

About

Overview In November 2024, United States exported $263M and imported $1.03B from Hungary, resulting in a negative trade balance of $771M. Between November 2023 and November 2024 the exports of United States have increased by $26.3M (11.1%) from $236M to $263M, while imports decreased by $-94.2M (-8.35%) from $1.13B to $1.03B.

Trade In November 2024, the top exports of United States to Hungary were Gas Turbines ($38.5M), Telephones ($13.9M), Vaccines, blood, antisera, toxins and cultures ($11.2M), Integrated Circuits ($10.9M), and Motor vehicles; parts and accessories (8701... ($8.47M). In November 2024 the top imports of United States from Hungary were Cars ($104M), Electric Batteries ($59.1M), Packaged Medicaments ($46.4M), Computers ($40.4M), and Motor vehicles; parts and accessories (8701... ($34M).

Origins In November 2024 the exports of United States were mainly from Texas ($56.6M), Arizona ($34.5M), Ohio ($20.7M), Indiana ($17.9M), and Florida ($16.4M), while imports destinations were mainly Illinois ($344M), Michigan ($99.9M), California ($74.9M), Georgia ($72M), and Texas ($65M).

Growth In November 2024, the increase in United States's year-by-year exports to Hungary was explained primarily by an increase in product exports in Gas Turbines ($11.4M or 42%), Vaccines, blood, antisera, toxins and cultures ($10M or 862%), and Tractors ($5.21M or 2.37k%). In November 2024, the decrease in United States's year-by-year imports from Hungary was explained primarily by an decrease in product imports in Electric Filament ($-3.89M or -61.8%), Engine Parts ($-3.25M or -69%), and Electrical Control Boards ($-3.02M or -22.7%).

Latest Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Value

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

EXPORT GROWTH (November 2023 - November 2024)$26.3M(11.1%)

IMPORT GROWTH (November 2023 - November 2024)$-94.2M(-8.35%)

MAIN EXPORTER (November 2024)Texas$56.6M

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

To check Hungary and United States trade dynamics, check the bilateral page.

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Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, United States exported $2.92B to Hungary. The main products exported from United States to Hungary were Office Machine Parts ($467M), Gas Turbines ($414M), and Broadcasting Equipment ($219M). During the last 5 years the exports of United States to Hungary have increased at an annualized rate of 7.23%, from $2.06B in 2018 to $2.92B in 2023.

In 2018, Hungary exported $7.66B to United States. The main products exported from Hungary to United States were Cars ($1.75B), Electric Batteries ($822M), and Computers ($334M). During the last 5 years the exports of Hungary to United States have increased at an annualized rate of 9.98%, from $4.76B in 2023 to $7.66B in 2018.

Exports from United States () to Hungary () (2023)

Exports from Hungary () to United States () (2023)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

United States
Top DestinationCanada$269B

Hungary
Top DestinationGermany$37.4B

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 2023, countries that imported more from United States than Hungary included Canada ($269B), Mexico ($243B), and China ($154B).

In 2023, countries that imported more from Hungary than United States included Romania ($8.43B), Slovakia ($6.54B), and Croatia ($2.72B).

Difference in imports from Hungary () and United States () (2023)

Comparative Advantage United States - Hungary

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, United States had a large net trade with Hungary in the exports of N/A.

During 2018, Hungary had a large net trade with United States in the exports of Machines ($4.05B), Transportation ($2.1B), and Instruments ($359M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

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

Hun Year

Usa Year

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.

Service trade data is presented based on availability.

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

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

Service Trade

Economic Complexity

Competitive Landscape

Year

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 () and Hungary () (2023)

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