United States (USA) and Hungary (HUN) Trade

2022

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Exports $2.79BRnk 62 / 219

2022

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About

United States-Hungary In 2022, United States exported $2.79B to Hungary. The main products that United States exported to Hungary are Office Machine Parts ($454M), Gas Turbines ($391M), and Broadcasting Equipment ($224M). During the last 27 years the exports of United States to Hungary have increased at an annualized rate of 7.14%, from $433M in 1995 to $2.79B in 2022.

In 2017, United States exported services to Hungary worth $1.16B, with Royalties and license fees ($368M), Travel ($299M), and Other business services ($195M) being the largest in terms of value.

Hungary-United States In 2022, Hungary exported $5.7B to United States. The main products that Hungary exported to United States were Cars ($1.03B), Electric Batteries ($419M), and Computers ($283M). During the last 27 years the exports of Hungary to United States have increased at an annualized rate of 9.34%, from $512M in 1995 to $5.7B in 2022.

In 2020, Hungary exported services to United States worth $1.72B, with Computer and information services ($427M), Royalties and license fees ($411M), and Other business services ($387M) being the largest in terms of value.

Comparison In 2022, United States ranked 10 in the Economic Complexity Index (ECI 1.41), and 2 in total exports ($1.95T). That same year, Hungary ranked 13 in the Economic Complexity Index (ECI 1.36), and 35 in total exports ($145B).

COMPANIES In 2023, leading companies such as ROBERT BOSCH LLC (43.2k), ROBERT BOSCH TOOL CORPORATION (7.04k), and HANKOOK TIRE AMERICA CORP. (3.2k) were at the forefront of exporting goods from Hungary to the United States. Conversely, ROBERT BOSCH ELEKTRONIKA KFT 10124 (21.8k), ROBERT BOSCH AUTOMOTIVE STEERING KF (18.2k), and ROBERT BOSCH ENERGY AND BODY SYSTEM (3.62k) were notable for importing Hungary products to the United States.

Latest Trends

January, 2024

About

Overview In January 2024, United States exported $266M and imported $841M from Hungary, resulting in a negative trade balance of $575M. Between January 2023 and January 2024 the exports of United States have increased by $63.9M (31.6%) from $202M to $266M, while imports increased by $186M (28.5%) from $655M to $841M.

Trade In January 2024, the top exports of United States to Hungary were Gas Turbines ($38.5M), Telephones ($13.9M), Vaccines, blood, antisera, toxins and cultures ($11.2M), Integrated Circuits ($10.9M), and Motor vehicles; parts and accessories (8701... ($8.47M). In January 2024 the top imports of United States from Hungary were Cars ($104M), Electric Batteries ($59.1M), Packaged Medicaments ($46.4M), Computers ($40.4M), and Motor vehicles; parts and accessories (8701... ($34M).

Origins In January 2024 the exports of United States were mainly from Texas ($27.7M), California ($22.4M), Indiana ($21.3M), Nevada ($20.3M), and Arizona ($18.9M), while imports destinations were mainly Illinois ($330M), Michigan ($89.2M), Texas ($51.2M), South Carolina ($50.6M), and California ($40.6M).

Growth In January 2024, the increase in United States's year-by-year exports to Hungary was explained primarily by an increase in product exports in Gas Turbines ($11.4M or 42%), Vaccines, blood, antisera, toxins and cultures ($10M or 862%), and Tractors ($5.21M or 2.37k%). In January 2024, the increase in United States's year-by-year imports from Hungary was explained primarily by an increase in product imports in Cars ($53.3M or 105%), Electric Batteries ($50.6M or 598%), and Motor vehicles; parts and accessories (8701... ($15.9M or 88.2%).

Latest Trade

Flow

Exports

Imports

Time Scale

Year

Quarter

Month

Depth

HS2

HS4

HS6

Value

Trade Value

Growth

Growth (%)

EXPORT GROWTH (January 2023 - January 2024)$63.9M(31.6%)

IMPORT GROWTH (January 2023 - January 2024)$186M(28.5%)

MAIN EXPORTER (January 2024)Texas$27.7M

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

To check Hungary and United States 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, United States exported $2.79B to Hungary. The main products exported from United States to Hungary were Office Machine Parts ($454M), Gas Turbines ($391M), and Broadcasting Equipment ($224M). During the last 27 years the exports of United States to Hungary have increased at an annualized rate of 7.14%, from $433M in 1995 to $2.79B in 2022.

In 2022, Hungary exported $5.7B to United States. The main products exported from Hungary to United States were Cars ($1.03B), Electric Batteries ($419M), and Computers ($283M). During the last 27 years the exports of Hungary to United States have increased at an annualized rate of 9.34%, from $512M in 1995 to $5.7B in 2022.

Exports from United States () to Hungary () (2022)

Exports from Hungary () to United States () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

United States
Top DestinationCanada$308B

Hungary
Top DestinationGermany$35.5B

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

In 2021, countries that imported more from United States than Hungary were Canada ($308B), Mexico ($294B), and China ($151B).

In 2021, countries that imported more from Hungary than United States were Romania ($7.94B), Slovakia ($6.78B), and Serbia ($3.42B).

Difference in imports from Hungary () and United States () (2022)

Comparative Advantage United States - Hungary

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, United States had a large net trade with Hungary in the exports of Machines ($1.81B), Chemical Products ($219M), and Transportation ($168M).

During 2022, Hungary had a large net trade with United States in the exports of Machines ($2.71B), Transportation ($1.32B), and Plastics and Rubbers ($339M).

Service Trade

Bilateral Service Trade

Hun Year

Usa Year

In 2017, United States exported services to Hungary worth $1.16B, with Royalties and license fees ($368M), Travel ($299M), and Other business services ($195M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from United States () to Hungary () (2017)

Services Exports from Hungary () to United States () (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 United States has comparative advantage over Hungary. Similarly, the more yellow a dot/product is, the more Hungary has comparative advantage over United States.

Product Space of United States () and Hungary () (2022)

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