Montenegro (MNE) and Hungary (HUN) Trade | The Observatory of Economic Complexity

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Montenegro-Hungary Trade: In 2022, Montenegro exported $10.9M to Hungary. The main products that Montenegro exported to Hungary were Electricity ($5.36M), Raw Aluminium ($4.27M), and Fireworks ($228k). Over the past 5 years the exports of Montenegro to Hungary have decreased at an annualized rate of 21.2%, from $36M in 2017 to $10.9M in 2022.

In 2022, Montenegro did not export any services to Hungary.

Hungary-Montenegro Trade: In 2022, Hungary exported $63.5M to Montenegro. The main products that Hungary exported to Montenegro were Broadcasting Equipment ($11.7M), Vaccines, blood, antisera, toxins and cultures ($5.37M), and Electricity ($4.63M). Over the past 5 years the exports of Hungary to Montenegro have increased at an annualized rate of 8.05%, from $43.1M in 2017 to $63.5M in 2022.

In 2022, Hungary did not export any services to Montenegro.

Comparison In 2022, Montenegro ranked 154 in total exports ($1.32B), and does not have data regarding Economic Complexity Index. That same year, Hungary ranked 14 in the Economic Complexity Index (ECI 1.38), and 35 in total exports ($145B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Montenegro exported $10.9M to Hungary. The main products exported from Montenegro to Hungary were Electricity ($5.36M), Raw Aluminium ($4.27M), and Fireworks ($228k). During the last 5 years the exports of Montenegro to Hungary have decreased at an annualized rate of 21.2%, from $36M in 2017 to $10.9M in 2022.

In 2017, Hungary exported $63.5M to Montenegro. The main products exported from Hungary to Montenegro were Broadcasting Equipment ($11.7M), Vaccines, blood, antisera, toxins and cultures ($5.37M), and Electricity ($4.63M). During the last 5 years the exports of Hungary to Montenegro have increased at an annualized rate of 8.05%, from $43.1M in 2022 to $63.5M in 2017.

Exports from Montenegro () to Hungary () (2022)

Exports from Hungary () to Montenegro () (2022)

Latest Data

Trade between Montenegro () and Hungary ()

Montenegro Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Montenegro
Top DestinationSouth Korea$321M

Hungary
Top DestinationGermany$35.5B

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

In 2022, countries that imported more from Montenegro than Hungary included Cayman Islands ($1.66M), San Marino ($2.1M), and Eswatini ($16.9k).

In 2022, countries that imported more from Hungary than Montenegro included Germany ($35.5B), Romania ($7.94B), and Italy ($8.02B).

Difference in imports from Hungary () and Montenegro () (2022)

Comparative Advantage Montenegro - Hungary

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Montenegro had a large net trade with Hungary in the exports of Mineral Products ($5.37M), Metals ($4.48M), and Instruments ($261k).

During 2017, Hungary had a large net trade with Montenegro in the exports of Machines ($24.1M), Chemical Products ($12.7M), and Foodstuffs ($6.66M).

Potential Exports

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Economic Complexity

Competitive Landscape

Year

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

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Historical Data

Bilateral Trade by Products

Exports from Montenegro () to Hungary () (2022)

Exports from Hungary () to Montenegro () (2022)

Latest Data

Trade between Montenegro () and Hungary ()

Montenegro Exports

Market Competitiveness

Difference in imports from Hungary () and Montenegro () (2022)

Comparative Advantage Montenegro - Hungary

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Montenegro () and Hungary () (2022)

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