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2022
Flag → Flag
Exports $676MRnk 41 / 215
2022
Flag → Flag
Top Product $250MGlands and Other Organs
2022
Flag → Flag
Exports $319MRnk 45 / 205
2022
Flag → Flag
Top Product $27MVaccines, blood, antisera, toxins and cultures
2022
Flag
Economic Complexity (ECI) ECI 1.68Rnk 6 / 133
2022
Flag
Economic Complexity (ECI) ECI 1.38Rnk 14 / 133
2022
Flag  
GDP$467BCURRENT US$
Rnk 33 / 186
2012-2022
Flag
GDP GROWTH58.2%CURRENT US$
Rnk 42 / 186
2022
Flag
 GDP$179BCURRENT US$
Rnk 57 / 186
2012-2022
Flag
GDP GROWTH38.8%CURRENT US$
Rnk 86 / 186
2022
Flag
GDP PC $82,808CURRENT US$
Rnk 7 / 186
2012-2022
Flag
GDP PC GROWTH49.1%CURRENT US$
Rnk 37 / 186
2022
Flag
GDP PC$18,463CURRENT US$
Rnk 55 / 186
2012-2022
Flag
GDP PC GROWTH42.2%CURRENT US$
Rnk 44 / 186

About

Singapore-Hungary Trade: In 2022, Singapore exported $676M to Hungary. The main products that Singapore exported to Hungary were Glands and Other Organs ($250M), Integrated Circuits ($117M), and Office Machine Parts ($74.1M). Over the past 5 years the exports of Singapore to Hungary have increased at an annualized rate of 7.88%, from $463M in 2017 to $676M in 2022.

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

Hungary-Singapore Trade: In 2022, Hungary exported $319M to Singapore. The main products that Hungary exported to Singapore were Vaccines, blood, antisera, toxins and cultures ($27M), Electrical Transformers ($25.9M), and Medical Instruments ($22M). Over the past 5 years the exports of Hungary to Singapore have increased at an annualized rate of 2.46%,  from $283M in 2017 to $319M in 2022.

In 2020, Hungary exported services to Singapore worth $101M, with Other business services ($46.8M), Computer and information services ($41.1M), and Transportation ($8.57M) being the largest in terms of value.

Comparison: In 2022,  Singapore ranked 6 in the Economic Complexity Index (ECI 1.68), and 21 in total exports ($379B). 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
Value

In 2022, Singapore exported $676M to Hungary. The main products exported from Singapore to Hungary were Glands and Other Organs ($250M), Integrated Circuits ($117M), and Office Machine Parts ($74.1M). During the last 5 years the exports of Singapore to Hungary have increased at an annualized rate of 7.88%, from $463M in 2017 to $676M in 2022.

In 2017, Hungary exported $319M to Singapore. The main products exported from Hungary to Singapore were Vaccines, blood, antisera, toxins and cultures ($27M), Electrical Transformers ($25.9M), and Medical Instruments ($22M). During the last 5 years the exports of Hungary to Singapore have increased at an annualized rate of 2.46%, from $283M in 2022 to $319M in 2017.

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

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

Latest Data

Trade between Singapore (Flag) and Hungary (Flag)

Singapore Exports

Hungary Exports

Market Competitiveness

Color
Singapore
Top DestinationHong Kong$51.6B
Hungary
Top DestinationGermany$35.5B

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

In 2022, countries that imported more from Singapore than Hungary included Hong Kong ($51.6B), China ($51.2B), and Malaysia ($35.9B).

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

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

Comparative Advantage Singapore - Hungary

Flow
Scale

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

During 2022, Singapore had a large net trade with Hungary in the exports of Machines ($318M), Chemical Products ($250M), and Plastics and Rubbers ($47.3M).

During 2017, Hungary had a large net trade with Singapore in the exports of Machines ($189M), Instruments ($37.6M), and Chemical Products ($34.7M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Singapore Hungary+$72.1MIntegrated Circuits
Top Product Potential Hungary Singapore+$28MComputers

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 Singapore worth $101M, with Other business services ($46.8M), Computer and information services ($41.1M), and Transportation ($8.57M) being the largest in terms of value.

Service trade data is presented based on availability.

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

Service Trade

Economic Complexity

Competitive Landscape

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

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

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