Xifres de comerç exterior d'Hongria

Foreign Trade in Figures

Hungary's economy is very open, with trade accounting for about 163% of GDP (World Bank, latest data available). Cars and the spare parts industry account for the highest share of exports and imports, followed by electric accumulators, telephones and monitors. Among the main imports, there are automotive parts, telephones, electrical energy and petroleum gas (Comtrade).

The European Union is by far the largest economic partner of Hungary, with Germany being the main trading partner for both imports and exports ( 23.8% of imports, 26.7% of exports). Italy is the second top destination for Hungarian goods (5.9%), followed by Romania (5.3%), Slovakia (5.1%), and Austria (4.5%). China is the second supplier of goods to Hungary (7.1%), followed by Austria (6.1%), Slovakia (5.9%), and Poland (5.7% - data by Comtrade).
 
Hungary's trade balance, which was traditionally in deficit, started posting surpluses in the last decade owing in particular to the good performance of the German economy. In 2021, the country’s trade balance was estimated at 0.3% of GDP by the World Bank (from 1.9% one year earlier). In the same year, exports of goods stood at USD 141.9 billion, roughly at the same level as imports (+17.9% and +23% year-on-year, respectively). As per services, exports reached USD 26 billion (+17.3%) against USD 20.2 billion in imports (+14.6%). The latest data published by the Central Statistical Office (KSH) shows that in January-September 2022, the value of exports amounted to EUR 20.5 billion and that of imports to EUR 14.2 billion. Compared to the same period in 2021, the value of exports increased by 27% and that of imports by 21%.