Russia (RUS) and Hungary (HUN) Trade | The Observatory of Economic Complexity

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Russia (RUS) and Hungary (HUN) Trade

2022

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Exports $8.46BRnk 16 / 138

2022

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About

Russia-Hungary In 2022, Russia exported $8.46B to Hungary. The main products that Russia exported to Hungary are Petroleum Gas ($5.58B), Crude Petroleum ($2.39B), and Nuclear Reactors ($94.5M). During the last 27 years the exports of Russia to Hungary have increased at an annualized rate of 6.44%, from $1.57B in 1995 to $8.46B in 2022.

In 2020, Russia exported services to Hungary worth $163M, with Other business services ($83M), Construction services ($37.7M), and Transportation ($19.1M) being the largest in terms of value.

Hungary-Russia In 2022, Hungary exported $1.35B to Russia. The main products that Hungary exported to Russia were Packaged Medicaments ($253M), Toilet Paper ($139M), and Special Pharmaceuticals ($122M). During the last 27 years the exports of Hungary to Russia have increased at an annualized rate of 1.94%, from $803M in 1995 to $1.35B in 2022.

In 2020, Hungary exported services to Russia worth $111M, with Transportation ($46.1M), Travel ($34.8M), and Other business services ($11.9M) being the largest in terms of value.

Comparison In 2022, Russia ranked 45 in the Economic Complexity Index (ECI 0.42), and 12 in total exports ($486B). That same year, Hungary ranked 13 in the Economic Complexity Index (ECI 1.36), and 35 in total exports ($145B).

Latest Trends

January, 2022

About

Overview In January 2022, Russia exported $786M and imported $157M from Hungary, resulting in a positive trade balance of $629M. Between January 2021 and January 2022 the exports of Russia have increased by $489M (165%) from $297M to $786M, while imports increased by $3M (1.95%) from $154M to $157M.

Trade In January 2022, the top exports of Russia to Hungary were Commodities not elsewhere specified ($142M), Crude Petroleum ($80.5M), Nuclear Reactors ($29.1M), Synthetic Rubber ($8.49M), and Refined Petroleum ($8.31M). In January 2022 the top imports of Russia from Hungary were Packaged Medicaments ($22.6M), Computers ($12.5M), Cars ($11.5M), Special Pharmaceuticals ($8.01M), and Pesticides ($6.28M).

Origins In January 2022 the exports of Russia were mainly from MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION ($726M), REPUBLIC OF TATARSTAN ($10.9M), PERM TERRITORY ($6.7M), ORENBURG REGION ($5.27M), and MOSCOW REGION ($4.54M), while imports destinations were mainly MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION ($76.8M), MOSCOW REGION ($22.5M), KALUGA REGION ($19.1M), ST. PETERSBURG ($7.29M), and ROSTOV REGION ($6.42M).

Growth In January 2022, the increase in Russia's year-by-year exports to Hungary was explained primarily by an increase in product exports in Nuclear Reactors ($13.7M or 89.1%), Synthetic Rubber ($6.36M or 299%), and Coal Briquettes ($1.2M or 89%). In January 2022, the increase in Russia's year-by-year imports from Hungary was explained primarily by an increase in product imports in Packaged Medicaments ($20.3M or 881%), Cars ($6.46M or 127%), and Pesticides ($2.98M or 90.4%).

Latest Trade

Flow

Exports

Imports

Time Scale

Year

Quarter

Month

Depth

HS2

HS4

HS6

Value

Trade Value

Growth

Growth (%)

EXPORT GROWTH (January 2021 - January 2022)$489M(165%)

IMPORT GROWTH (January 2021 - January 2022)$3M(1.95%)

MAIN EXPORTER (January 2022)MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION$726M

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

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

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Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Russia exported $8.46B to Hungary. The main products exported from Russia to Hungary were Petroleum Gas ($5.58B), Crude Petroleum ($2.39B), and Nuclear Reactors ($94.5M). During the last 27 years the exports of Russia to Hungary have increased at an annualized rate of 6.44%, from $1.57B in 1995 to $8.46B in 2022.

In 2022, Hungary exported $1.35B to Russia. The main products exported from Hungary to Russia were Packaged Medicaments ($253M), Toilet Paper ($139M), and Special Pharmaceuticals ($122M). During the last 27 years the exports of Hungary to Russia have increased at an annualized rate of 1.94%, from $803M in 1995 to $1.35B in 2022.

Exports from Russia () to Hungary () (2022)

Exports from Hungary () to Russia () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Russia
Top DestinationChina$101B

Hungary
Top DestinationGermany$35.5B

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

In 2021, countries that imported more from Russia than Hungary were China ($101B), India ($40.4B), and Turkey ($25.3B).

In 2021, countries that imported more from Hungary than Russia were Germany ($35.5B), Austria ($6.32B), and Romania ($7.94B).

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

Comparative Advantage Russia - Hungary

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Russia had a large net trade with Hungary in the exports of Mineral Products ($8.02B), Chemical Products ($134M), and Machines ($114M).

During 2022, Hungary had a large net trade with Russia in the exports of Chemical Products ($583M), Machines ($196M), and Paper Goods ($143M).

Service Trade

Bilateral Service Trade

Hun Year

Rus Year

In 2020, Russia exported services to Hungary worth $163M, with Other business services ($83M), Construction services ($37.7M), and Transportation ($19.1M) being the largest in terms of value.

In 2020, Hungary exported services to Russia worth $111M, with Transportation ($46.1M), Travel ($34.8M), and Other business services ($11.9M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Russia () to Hungary () (2020)

Services Exports from Hungary () to Russia () (2020)

Economic Complexity

Competitive Landscape

Year

This visualization show the product space at the HS4 level colored from blue to yellow. This mean that the more blue a dot/product is, the more Russia has comparative advantage over Hungary. Similarly, the more yellow a dot/product is, the more Hungary has comparative advantage over Russia.

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

Keep Exploring

Russia
Croatia
Russia
Ireland
Romania
Hungary
Norway
Hungary

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