Hungary's Top Exports & Imports

Hungarian Passion for Profits Bridges to Russia, China and the West

© Daniel Workman

Mar 18, 2008

Since 1989 when Communist rule in Central and Eastern Europe crumbled, foreign direct investment totalling more than US$60 billion has enabled Hungary to grow its exports faster than imports.

Hungary eliminated its international trade deficit in 2007.

That same year, Hungary exported some US$86 billion worth of mostly machinery, equipment and other manufactured products. Topping the list of customers for Hungarian exports were Germany (30% of total exports), Italy (5.6%), France (5%), Austria (5%), the United Kingdom (4.5%), Romania (4.2%) and Poland (4.1%).

The total amount of Hungarian imports last year was roughly equal to the value of Hungarian exports. Leading suppliers of Hungarian imports included Germany, Russia, China, Austria, France, Italy, Netherlands and Poland.

Hungary – U.S. Trade

A closer look at Hungary’s trade statistics with the United States reveal that Hungary has maintained an average annual trade surplus of around $1.5 billion with its American trade partner over the past four years.

In terms of the merchandise flow between the two countries, Hungary’s trade surplus with America was $1.5 billion in 2007, down 14.4% from 2003. The Hungarian trade surplus with the U.S. increased 8.8% in 2007 – an improvement from the 9.2% decrease in 2006 from the year earlier.

Hungarian Exports to U.S.

With a population of some 10 million, Hungary exported US$2.8 billion worth of merchandise to the United States in 2007, up 8.5% from 2006 and up 3.8% in four years.

1. Computer accessories …US$649 million (23.1% of Hungary to U.S. exports, down 2.3% from 2006)
2. Telecommunications equipment … $239.8 million (8.6%, up 102.4%)
3. Automobile parts and accessories … $178.2 million (6.4%, down 12.6%)
4. New and used passenger cars … $177.4 million (6.3%, up 740%)
5. Electrical apparatus and parts … $173.5 million (6.2%, up 1.6%)
6. Medicinal, dental and pharmaceutical preparations … $168.6 million (6%, down 38.3%)
7. Measuring, testing and control instruments … $106.8 million (3.8%, up 20%)
8. Industrial engines, compressors and generators … $94.3 million (3.4%, down 1.3%)
9. Computers … $84.1 million (3%, up 326.4%)
10. Goods returned then re-exported to America … $78.3 million (2.8%, up 44.5%)

Fastest-Growing Hungarian Exports to U.S.

Below are selected American imports from Hungary in 2007 with the highest percentage sales increases from 2006.

1. Marine engine and parts … US$22.6 million (up 1,500% from 2006)
2. Railway transportation equipment … $5.9 million (up 896%)
3. New and used passenger cars … $177.4 million (up 740%)
4. Computers … $84.1 million (up 326.4%)
5. Telecommunications equipment … $239.8 million (up 102.4%)

Hungarian Imports from U.S.

Hungarian imports from the U.S. rose 8.7% to $1.3 billion in 2007, up 38.4% since 2003.

Of American exports to Hungary in 2007, the following product categories had the highest values.

1. Computer accessories … US$149.1 million (11.5% of Hungary from U.S. imports, down 13.2% from 2006)
2. Semiconductors … $129.3 million (10%, down 5.7%)
3. Industrial engines … $102.1 million (7.9%, down 14.5%)
4. Electric apparatus … $81.1 million (6.3%, up 38.1%)
5. Other vehicle parts and accessories … $64.2 million (5%, down 2.8%)
6. Measuring, testing and control instruments … $61.5 million (4.8%, up 71.2%)
7. Agricultural machinery and equipment … $49 million (3.8%, up 43.5%)
8. Telecommunications equipment … $45.1 million (3.5%, up 6.1%)
9. Finished metal shapes … $36.1 million (2.8%, up 28.6%)
10. Computers … $29.8 million (2.3%, up 35.1%)

Fastest-Growing Hungarian Imports from U.S.

Below are selected American exports to Hungary in 2007 with the highest percentage sales increases from 2006.

1. Aluminum … US$18.1 million (up 169% from 2006)
2. Printed materials, books … $22.4 million (up 162%)
3. Measuring, testing and control instruments … $61.5 million (up 71.2%)
4. Medicinal equipment … $25.4 million (up 56.1%)
5. Business machines and equipment … $20.4 million (up 55.1%)

Sources

This analysis is based on latest statistics from the US Census Bureau - Foreign Trade Statistics and CIA World Factbook as of the date of article publication.

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