Hongria: Visió econòmica i política
Hungary's economy is very open, with trade accounting for about 157% of GDP (World Bank, latest data available). Cars and the spare parts industry account for the highest share of exports and imports. In the period Jan-Nov 2024, the main exported products were road vehicles (16.7%), electrical machinery, apparatus and appliances (16%), power generating machinery and equipment (6.7%), medical and pharmaceutical products (6.6%), telecommunications and sound recording and reproducing apparatus and equipment (6.5%), and office machines and automatic data processing machines (4.6%); while imports were led by electrical machinery, apparatus and appliances (14.4%), road vehicles (9.9%), medical and pharmaceutical products (5.3%), general industrial machinery and equipment (5.2% - data Hungarian Central Statistical Office).
According to data from the Hungarian Central Statistical Office, Germany was the main export destination in Jan-Nov 2024 (25.2% of the total), followed by Romania (5.4%), Poland (5.3%), Italy (5.2%), and Slovakia (5%); whereas imports came chiefly from Germany (23%), China (6.7%), Poland (6.2%), Austria (6%), Slovakia (5.9%), and Czech Republic (5.4%). Overall, Europe accounted for 88.3% of total exports and 80.5% of imports.
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 2023, however, the country’s trade balance was estimated to be negative by 5.1% of GDP by the World Bank. In the same year, exports of goods stood at USD 160.9 billion against USD 155.9 billion in imports (+6.1% and -5.5% year-on-year, respectively). As per services, exports reached USD 34.7 billion (+12.9%) vis-à-vis USD 24.1 billion in imports (+8%). The latest data published by the Central Statistical Office (KSH) shows that from January to November 2024, Hungary's trade surplus amounted to EUR 11.1 billion. Exports during this period declined by 3.8% to EUR 133.9 billion, while imports fell by 5.6% to EUR 122.8 billion. Hungary’s terms of trade improved by 0.8%, with the forint weakening by 3.2% against the euro and 2.8% against the U.S. dollar.
| Foreign Trade Values | 2019 | 2020 | 2021 | 2022 | 2023 |
| Imports of Goods (million USD) | 120,590 | 116,020 | 142,917 | 165,136 | 155,966 |
| Exports of Goods (million USD) | 123,796 | 120,654 | 141,830 | 151,672 | 160,955 |
| Imports of Services (million USD) | 22,219 | 18,117 | 21,287 | 22,322 | 24,119 |
| Exports of Services (million USD) | 30,155 | 22,689 | 26,906 | 30,744 | 34,707 |
Source: World Trade Organisation (WTO) ; Latest available data
| Foreign Trade Indicators | 2019 | 2020 | 2021 | 2022 | 2023 |
| Foreign Trade (in % of GDP) | 160.8 | 155.4 | 159.7 | 185.3 | 157.3 |
| Trade Balance (million USD) | -4,259 | -1,565 | -5,287 | -15,965 | 78 |
| Trade Balance (Including Service) (million USD) | 3,688 | 3,029 | 332 | -8,282 | 10,642 |
| Imports of Goods and Services (Annual % Change) | 8.2 | -3.9 | 7.3 | 10.8 | -4.3 |
| Exports of Goods and Services (Annual % Change) | 5.4 | -6.1 | 8.3 | 11.4 | 0.9 |
| Imports of Goods and Services (in % of GDP) | 79.2 | 76.7 | 79.7 | 94.9 | 76.1 |
| Exports of Goods and Services (in % of GDP) | 81.5 | 78.7 | 79.9 | 90.4 | 81.2 |
Source: World Bank ; Latest available data
| Foreign Trade Forecasts | 2024 | 2025 (e) | 2026 (e) | 2027 (e) | 2028 (e) |
|---|---|---|---|---|---|
| Volume of exports of goods and services (Annual % change) | 0.0 | 4.6 | 5.6 | 5.8 | 5.9 |
| Volume of imports of goods and services (Annual % change) | -1.9 | 6.7 | 5.9 | 5.7 | 5.9 |
Source: IMF, World Economic Outlook ; Latest available data
Note: (e) Estimated Data
| Main Customers (% of Exports) |
2023 |
| Germany | 26.1% |
| Italy | 5.8% |
| Romania | 5.3% |
| Slovakia | 5.0% |
| Poland | 4.6% |
| Czech Republic | 4.5% |
| France | 4.2% |
| Austria | 4.0% |
| United States | 3.8% |
| United Kingdom | 3.5% |
| Netherlands | 3.2% |
| Spain | 3.0% |
| Belgium | 2.6% |
| Serbia | 1.9% |
| Ukraine | 1.8% |
| Türkiye | 1.6% |
| Croatia | 1.6% |
| Slovenia | 1.5% |
| Sweden | 1.3% |
| China | 1.2% |
| See More Countries | 53.2% |
| Main Suppliers (% of Imports) |
2023 |
| Germany | 22.6% |
| China | 6.6% |
| Austria | 6.1% |
| Poland | 5.8% |
| Slovakia | 5.4% |
| South Korea | 5.4% |
| Czech Republic | 5.4% |
| Netherlands | 5.0% |
| Russia | 4.2% |
| Italy | 4.1% |
| France | 3.2% |
| Romania | 2.9% |
| Belgium | 2.2% |
| United States | 2.0% |
| Serbia | 1.5% |
| Spain | 1.5% |
| Slovenia | 1.4% |
| Japan | 1.2% |
| Türkiye | 1.1% |
| Hong Kong SAR, China | 1.0% |
| See More Countries | 53.5% |
Source: Comtrade, 2024. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
Source: Comtrade, 2024. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
To go further, check out our service Import-Export Flows.
| 32.6 bn USD of services exported in 2023 | |
| 28.54% | |
| 25.39% | |
| Miscellaneous business,...Miscellaneous business, professional, and technical services | 22.25% |
| Research and developmentResearch and development | 3.15% |
| 24.42% | |
| 10.89% | |
| 4.26% | |
| 3.02% | |
| 1.54% | |
| 1.14% | |
| 0.61% | |
| 0.18% | |
| 24.1 bn USD of services imported in 2023 | |
| 30.24% | |
| 29.76% | |
| Miscellaneous business,...Miscellaneous business, professional, and technical services | 26.59% |
| Research and developmentResearch and development | 3.18% |
| 15.36% | |
| 11.27% | |
| 5.74% | |
| 2.56% | |
| 1.59% | |
| 1.27% | |
| 1.20% | |
| 1.00% | |
Source: United Nations Statistics Division, 2024. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
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Actualitzacions: March 2025
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