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2022
Flag → Flag
Exports $8.02BRnk 2 / 205
2022
Flag → Flag
Top Product $726MCars
2022
Flag → Flag
Exports $6.58BRnk 20 / 221
2022
Flag → Flag
Top Product $273MMotor vehicles; parts and accessories (8701 to 8705)
2022
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Economic Complexity (ECI) ECI 1.38Rnk 14 / 133
2022
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Economic Complexity (ECI) ECI 1.29Rnk 17 / 133
2022
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GDP$179BCURRENT US$
Rnk 57 / 186
2012-2022
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GDP GROWTH38.8%CURRENT US$
Rnk 86 / 186
2022
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 GDP$2.01TCURRENT US$
Rnk 10 / 186
2012-2022
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GDP GROWTH-3.67%CURRENT US$
Rnk 169 / 186
2022
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GDP PC $18,463CURRENT US$
Rnk 55 / 186
2012-2022
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GDP PC GROWTH42.2%CURRENT US$
Rnk 44 / 186
2022
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GDP PC$34,158CURRENT US$
Rnk 30 / 186
2012-2022
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GDP PC GROWTH-2.55%CURRENT US$
Rnk 148 / 186

About

Hungary-Italy Trade: In 2022, Hungary exported $8.02B to Italy. The main products that Hungary exported to Italy were Cars ($726M), Electric Batteries ($595M), and Corn ($333M). Over the past 5 years the exports of Hungary to Italy have increased at an annualized rate of 6.53%, from $5.85B in 2017 to $8.02B in 2022.

In 2020, Hungary exported services to Italy worth $470M, with Transportation ($152M), Other business services ($108M), and Travel ($98.2M) being the largest in terms of value.

Italy-Hungary Trade: In 2022, Italy exported $6.58B to Hungary. The main products that Italy exported to Hungary were Motor vehicles; parts and accessories (8701 to 8705) ($273M), Raw Aluminium ($182M), and Packaged Medicaments ($158M). Over the past 5 years the exports of Italy to Hungary have increased at an annualized rate of 4.9%,  from $5.18B in 2017 to $6.58B in 2022.

In 2020, Italy exported services to Hungary worth $330M, with Transportation ($106M), Travel ($79.6M), and Computer and information services ($49.1M) being the largest in terms of value.

Comparison: In 2022,  Hungary ranked 14 in the Economic Complexity Index (ECI 1.38), and 35 in total exports ($145B). That same year, Italy ranked 17 in the Economic Complexity Index (ECI 1.29), and 7 in total exports ($634B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Hungary exported $8.02B to Italy. The main products exported from Hungary to Italy were Cars ($726M), Electric Batteries ($595M), and Corn ($333M). During the last 5 years the exports of Hungary to Italy have increased at an annualized rate of 6.53%, from $5.85B in 2017 to $8.02B in 2022.

In 2017, Italy exported $6.58B to Hungary. The main products exported from Italy to Hungary were Motor vehicles; parts and accessories (8701 to 8705) ($273M), Raw Aluminium ($182M), and Packaged Medicaments ($158M). During the last 5 years the exports of Italy to Hungary have increased at an annualized rate of 4.9%, from $5.18B in 2022 to $6.58B in 2017.

Exports from Hungary (Flag) to Italy (Flag) (2022)

Exports from Italy (Flag) to Hungary (Flag) (2022)

Latest Data

Trade between Hungary (Flag) and Italy (Flag)

Hungary Exports

Italy Exports

Market Competitiveness

Color
Hungary
Top DestinationGermany$35.5B
Italy
Top DestinationGermany$78.5B

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

In 2022, countries that imported more from Hungary than Italy included Slovakia ($6.78B), Serbia ($3.42B), and Ukraine ($2.08B).

In 2022, countries that imported more from Italy than Hungary included United States ($68.2B), France ($63.8B), and Germany ($78.5B).

Difference in imports from Italy (Flag) and Hungary (Flag) (2022)

Comparative Advantage Hungary - Italy

Flow
Scale

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

During 2022, Hungary had a large net trade with Italy in the exports of Machines ($2.61B), Transportation ($975M), and Vegetable Products ($819M).

During 2017, Italy had a large net trade with Hungary in the exports of Machines ($1.74B), Metals ($1.46B), and Chemical Products ($699M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Hungary Italy+$280MCars
Top Product Potential Italy Hungary+$107MMotor vehicles; parts and accessories (8701 to 8705)

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 Italy worth $470M, with Transportation ($152M), Other business services ($108M), and Travel ($98.2M) being the largest in terms of value.

In 2020, Italy exported services to Hungary worth $330M, with Transportation ($106M), Travel ($79.6M), and Computer and information services ($49.1M) being the largest in terms of value.

Service trade data is presented based on availability.

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

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

Service Trade

Economic Complexity

Competitive Landscape

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

Product Space of Hungary (Flag) and Italy (Flag) (2022)

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