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2022
Flag → Flag
Exports $866MRnk 35 / 217
2022
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Top Product $76.4MPackaged Medicaments
2022
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Exports $1.74BRnk 21 / 205
2022
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Top Product $254MVideo Displays
2022
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Economic Complexity (ECI) ECI 1.49Rnk 9 / 133
2022
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Economic Complexity (ECI) ECI 1.38Rnk 14 / 133
2022
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GDP$586BCURRENT US$
Rnk 23 / 186
2012-2022
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GDP GROWTH6.06%CURRENT US$
Rnk 151 / 186
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 PC $55,873CURRENT US$
Rnk 13 / 186
2012-2022
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GDP PC GROWTH-3.73%CURRENT US$
Rnk 149 / 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

About

Sweden-Hungary Trade: In 2022, Sweden exported $866M to Hungary. The main products that Sweden exported to Hungary were Packaged Medicaments ($76.4M), Cars ($57.6M), and Kaolin Coated Paper ($44.1M). Over the past 5 years the exports of Sweden to Hungary have increased at an annualized rate of 1.76%, from $794M in 2017 to $866M in 2022.

In 2020, Sweden exported services to Hungary worth $162M, with Other business services ($49.5M), Transportation ($29.1M), and Computer and information services ($28.2M) being the largest in terms of value.

Hungary-Sweden Trade: In 2022, Hungary exported $1.74B to Sweden. The main products that Hungary exported to Sweden were Video Displays ($254M), Motor vehicles; parts and accessories (8701 to 8705) ($218M), and Insulated Wire ($79.1M). Over the past 5 years the exports of Hungary to Sweden have increased at an annualized rate of 1.74%,  from $1.6B in 2017 to $1.74B in 2022.

In 2020, Hungary exported services to Sweden worth $359M, with Other business services ($187M), Computer and information services ($67.7M), and Transportation ($62.2M) being the largest in terms of value.

Comparison: In 2022,  Sweden ranked 9 in the Economic Complexity Index (ECI 1.49), and 33 in total exports ($194B). That same year, Hungary ranked 14 in the Economic Complexity Index (ECI 1.38), and 35 in total exports ($145B).

Latest Trends

May, 2024

About

Overview In May 2024, Sweden exported SEK763M and imported SEK1.58B from Hungary, resulting in a negative trade balance of SEK818M. Between May 2023 and May 2024 the exports of Sweden have increased by SEK126M (19.9%) from SEK637M to SEK763M, while imports decreased by SEK-57.5M (-3.51%) from SEK1.64B to SEK1.58B.

Trade In May 2024, the top exports of Sweden to Hungary were Packaged Medicaments (SEK102M), Cars (SEK49M), Soil Preparation Machinery (SEK44.5M), Kaolin Coated Paper (SEK37.5M), and Insulated Wire (SEK29.2M). In May 2024 the top imports of Sweden from Hungary were Motor vehicles; parts and accessories (8701... (SEK270M), Computers (SEK144M), Video Displays (SEK123M), Refrigerators (SEK86.7M), and Air Pumps (SEK71.7M).

Growth In May 2024, the increase in Sweden's year-by-year exports to Hungary was explained primarily by an increase in product exports in Soil Preparation Machinery (SEK30.8M or 224%), Packaged Medicaments (SEK30.6M or 42.9%), and Washing and Bottling Machines (SEK19.8M or 2.15k%). In May 2024, the decrease in Sweden's year-by-year imports  from Hungary was explained primarily by an decrease in product imports  in Video Displays (SEK-185M or -59.9%), Telephones (SEK-65.8M or -77.1%), and Insulated Wire (SEK-12.3M or -17%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (May 2023 - May 2024)SEK126M(19.9%)
IMPORT GROWTH (May 2023 - May 2024)SEK-57.5M(-3.51%)

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

To check Hungary and Sweden trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Hungary and Sweden Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Sweden exported $866M to Hungary. The main products exported from Sweden to Hungary were Packaged Medicaments ($76.4M), Cars ($57.6M), and Kaolin Coated Paper ($44.1M). During the last 5 years the exports of Sweden to Hungary have increased at an annualized rate of 1.76%, from $794M in 2017 to $866M in 2022.

In 2017, Hungary exported $1.74B to Sweden. The main products exported from Hungary to Sweden were Video Displays ($254M), Motor vehicles; parts and accessories (8701 to 8705) ($218M), and Insulated Wire ($79.1M). During the last 5 years the exports of Hungary to Sweden have increased at an annualized rate of 1.74%, from $1.6B in 2022 to $1.74B in 2017.

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

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

Market Competitiveness

Color
Sweden
Top DestinationGermany$19.2B
Hungary
Top DestinationGermany$35.5B

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

In 2022, countries that imported more from Sweden than Hungary included Norway ($18.7B), Denmark ($14.6B), and Finland ($13.4B).

In 2022, countries that imported more from Hungary than Sweden included Germany ($35.5B), Romania ($7.94B), and Slovakia ($6.78B).

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

Comparative Advantage Sweden - Hungary

Flow
Scale

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

During 2022, Sweden had a large net trade with Hungary in the exports of Machines ($239M), Paper Goods ($128M), and Chemical Products ($116M).

During 2017, Hungary had a large net trade with Sweden in the exports of Machines ($1.09B), Transportation ($271M), and Foodstuffs ($69.8M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Sweden Hungary+$43.3MCars
Top Product Potential Hungary Sweden+$61.7MCars

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, Sweden exported services to Hungary worth $162M, with Other business services ($49.5M), Transportation ($29.1M), and Computer and information services ($28.2M) being the largest in terms of value.

In 2020, Hungary exported services to Sweden worth $359M, with Other business services ($187M), Computer and information services ($67.7M), and Transportation ($62.2M) being the largest in terms of value.

Service trade data is presented based on availability.

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

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

Service Trade

Economic Complexity

Competitive Landscape

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

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

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