Hungary's total trade in 2024 reached $319.3B, comprising $167.7B in exports and $151.6B in imports.
The country achieved a trade surplus of $16.1B in 2024.
Globally, Hungary was ranked 30th for total trade, 31st for exports, and 29th for imports.
The top export destination for Hungarian goods was Germany, which received $41.7B (24.9% of total exports).
Germany was also the largest source of imports, accounting for $34.8B (23.0% of total imports).
Electrical machinery and equipment (HS2 85) was the most significant category for both exports ($39.4B) and imports ($30.7B).
Hungary's Trade Performance in 2024
In 2024, Hungary's international trade activity positioned it as the 30th largest trading nation globally. The country's exports amounted to $167.7B, while imports stood at $151.6B, leading to a significant trade surplus of $16.1B. This performance underscores Hungary's robust integration into the global economy. The nation's trade is heavily influenced by its relationships with key European partners and its role in various industrial supply chains.
Key Export and Import Partners
Hungary's trade is concentrated with European nations. Germany is by far its most important trade partner, accounting for $41.7B (24.9%) of exports and $34.8B (23.0%) of imports. Other major export destinations include Romania with a 5.6% share and Poland with a 5.3% share. On the import side, after Germany, China is a significant partner, providing 6.4% of total imports, followed by Poland at 6.3%.
Hungary's trade profile is dominated by high-value manufactured goods. The leading product category is Electrical machinery and equipment (HS2 85), which constitutes 23.5% of exports ($39.4B) and 20.2% of imports ($30.7B). The automotive industry also plays a crucial role, with Vehicles (HS2 87) being the second-largest export category at $28.3B (16.9% of the total). Machinery and mechanical appliances (HS2 84) and Pharmaceutical products (HS2 30) are also major contributors to both exports and imports.