2022
Exports
$6.44BWorld Rnk 60 / 216
Flag Rnk 4 / 96
2022
PRODUCT COMPLEXITY IN Mineral fuels, mineral oils and products of their distillation
0.48Rnk 371 / 1025
2022
Imports
$22.2BWorld Rnk 32 / 225
Flag Rnk 2 / 96
2022
ECONOMIC COMPLEXITY of Hungary
1.38Rnk 14 / 133

About

Exports In 2022, Hungary exported $6.44B in Mineral fuels, mineral oils and products of their distillation, making it the 60th largest exporter of Mineral fuels, mineral oils and products of their distillation in the world. At the same year, Mineral fuels, mineral oils and products of their distillation was the 4th most exported product in Hungary. The main destination of Mineral fuels, mineral oils and products of their distillation exports from Hungary are: Serbia ($1.54B), Croatia ($1.27B), Romania ($1.15B), Ukraine ($527M), and Austria ($513M).

The fastest growing export markets for Mineral fuels, mineral oils and products of their distillation of Hungary between 2021 and 2022 were Serbia ($830M), Croatia ($567M), and Romania ($492M).

Imports In 2022, Hungary imported $22.2B in Mineral fuels, mineral oils and products of their distillation, becoming the 32nd largest importer of Mineral fuels, mineral oils and products of their distillation in the world. At the same year, Mineral fuels, mineral oils and products of their distillation was the 2nd most imported product in Hungary. Hungary imports Mineral fuels, mineral oils and products of their distillation primarily from: Russia ($8.01B), Austria ($4.02B), Slovakia ($3.55B), Romania ($2.57B), and Croatia ($1.92B).

The fastest growing import markets in Mineral fuels, mineral oils and products of their distillation for Hungary between 2021 and 2022 were Russia ($4.68B), Austria ($2.13B), and Romania ($2.03B).

Latest Trends

Jul 2024

Subnational Monthly Trade

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Y-AXIS SCALE

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

The following visualization shows the latest trends on Mineral fuels, mineral oils and products of their distillation. Countries are shown based on data availability.

* Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$6.44B
IMPORTS (2022)$22.2B
NET TRADE (2022)-$15.7B

In 2022, Hungary exported $6.44B in Mineral fuels, mineral oils and products of their distillation. The main destinations of Hungary exports on Mineral fuels, mineral oils and products of their distillation were Serbia ($1.54B), Croatia ($1.27B), Romania ($1.15B), Ukraine ($527M), and Austria ($513M).

In 2022, Hungary imported $22.2B in Mineral fuels, mineral oils and products of their distillation, mainly from Russia ($8.01B), Austria ($4.02B), Slovakia ($3.55B), Romania ($2.57B), and Croatia ($1.92B).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Mineral fuels, mineral oils and products of their distillation EXPORT MARKETS FOR Hungary WERE (2021 - 2022):
Serbia$830M (118%)
Croatia$567M (80.6%)
Romania$492M (75.2%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Mineral fuels, mineral oils and products of their distillation BY Hungary WERE (2021 - 2022):
Ukraine-$310M (-37%)
Bosnia and Herzegovina-$20.6M (-63.4%)
Czechia-$16M (-26.2%)

Change in Exports by Market (2021 - 2022)

Market Concentration

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Type
In 2022, Hungary's main exporting competitors in Mineral fuels, mineral oils and products of their distillation were:
In 2022, Hungary's main importing competitors in Mineral fuels, mineral oils and products of their distillation were:

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Trade Value of Mineral fuels, mineral oils and products of their distillation by Exporters

Potential Exports

Potential Exports

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TOP EXPORT POTENTIALAustria+ $175M
TOP IMPORT POTENTIALGermany+ $110M

Mineral fuels, mineral oils and products of their distillation’s highest export potential is Austria. With an export gap of $175M.   Mineral fuels, mineral oils and products of their distillation’s highest import potential is Germany with an import gap of $110M.

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