2023
Exports
$1.16BWorld Rnk 62 / 214
Flag Rnk 25 / 1203
2023
PRODUCT COMPLEXITY IN Refined Petroleum
-0.94Rnk 813 / 1025
2023
Imports
$2.62BWorld Rnk 71 / 226
Flag Rnk 10 / 1211
2023
ECONOMIC COMPLEXITY of Hungary
1.41Rnk 14 / 132

About

Exports In 2023, Hungary exported $1.16B in Refined Petroleum, making it the 62nd largest exporter of Refined Petroleum in the world. At the same year, Refined Petroleum was the 25th most exported product in Hungary. The main destination of Refined Petroleum exports from Hungary are: Romania ($249M), Serbia ($166M), Ukraine ($155M), Slovakia ($98.7M), and Slovenia ($91M).

The fastest growing export markets for Refined Petroleum of Hungary between 2022 and 2023 were Ukraine ($121M), Romania ($77.8M), and China ($29.5M).

Imports In 2023, Hungary imported $2.62B in Refined Petroleum, becoming the 71st largest importer of Refined Petroleum in the world. At the same year, Refined Petroleum was the 10th most imported product in Hungary. Hungary imports Refined Petroleum primarily from: Austria ($1.06B), Slovakia ($563M), Germany ($265M), Slovenia ($220M), and Czechia ($130M).

The fastest growing import markets in Refined Petroleum for Hungary between 2022 and 2023 were Germany ($62.5M), Slovakia ($57.3M), and Slovenia ($50.8M).

Latest Trends

Dec 2024

Subnational Monthly Trade

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Flow
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 Refined Petroleum. 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 (2023)$1.16B
IMPORTS (2023)$2.62B
NET TRADE (2023)-$1.46B

In 2023, Hungary exported $1.16B in Refined Petroleum. The main destinations of Hungary exports on Refined Petroleum were Romania ($249M), Serbia ($166M), Ukraine ($155M), Slovakia ($98.7M), and Slovenia ($91M).

In 2023, Hungary imported $2.62B in Refined Petroleum, mainly from Austria ($1.06B), Slovakia ($563M), Germany ($265M), Slovenia ($220M), and Czechia ($130M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Refined Petroleum EXPORT MARKETS FOR Hungary WERE (2022 - 2023):
Ukraine$121M (365%)
Romania$77.8M (45.5%)
China$29.5M (271%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Refined Petroleum BY Hungary WERE (2022 - 2023):
Slovakia-$37.9M (-27.7%)
Austria-$26.7M (-31%)
Croatia-$17.5M (-39.3%)

Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, Hungary's main exporting competitors in Refined Petroleum were:
In 2023, Hungary's main importing competitors in Refined Petroleum were:

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Trade Value of Refined Petroleum by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALGermany+ $59.8M
TOP IMPORT POTENTIALNetherlands+ $67M

Refined Petroleum’s highest export potential is Germany. With an export gap of $59.8M.   Refined Petroleum’s highest import potential is Netherlands with an import gap of $67M.

See methodology.

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