As of 2024, Hungary’s export economy is robust and diversified, with a strong emphasis on high-tech manufacturing and pharmaceuticals. The top ten export categories, which collectively account for approximately 79% of the country’s total exports, are as follows:
- Electrical Machinery and Equipment – Approximately $42.4 billion (26.4% of total exports)
This category includes electric accumulators (batteries), insulated wires and cables, and electronic circuits. - Vehicles and Parts – Around $25.1 billion (15.6%)
Encompasses motor cars, automotive parts, and accessories. - Machinery Including Computers – Approximately $23.2 billion (14.4%)
Covers industrial machinery, computers, and related equipment. - Pharmaceutical Products – About $9.3 billion (5.8%)
Includes packaged medicaments and other pharmaceutical preparations. - Plastics and Plastic Products – Roughly $5.43 billion (3.4%)
Comprises various plastic materials and manufactured plastic goods. - Mineral Fuels and Oils – Approximately $5.36 billion (3.3%)
Includes refined petroleum products and other mineral fuels. - Optical, Technical, and Medical Apparatus – Around $4.4 billion (2.8%)
Encompasses instruments used in medical and technical fields. - Rubber and Rubber Products – Approximately $3.2 billion (2%)
Covers various rubber materials and manufactured rubber goods. - Iron and Steel Products – About $2.02 billion (1.3%)
Includes articles made from iron or steel. - Furniture and Lighting – Roughly $1.99 billion (1.2%)
Comprises furniture, lighting fixtures, and prefabricated buildings.
Hungary’s main export destinations in 2024 include Germany (25.2% of total exports), followed by Romania, Poland, Italy, and Slovakia. Tendata+1CO-INVESTIN+1CO-INVESTIN+1Tendata+1Lloyds Bank Trade
Electrical Machinery and Equipment
In 2023, Hungary’s exports of electrical machinery and equipment amounted to approximately $40.7 billion, representing about 25% of the country’s total exports. This sector encompasses a diverse range of products, including electric motors, generators, transformers, and various electrical apparatus.(Trading Economics)
Key Export Products
- Electric Motors and Generators: Hungary exported around 4,493 shipments of electric motors between March 2023 and February 2024, marking a 30% increase compared to the previous year. (Volza)
- Electrical Apparatus for Switching or Protecting Electrical Circuits: This category includes switches, relays, fuses, surge suppressors, plugs, sockets, and junction boxes. In 2023, exports in this category were significant, with Germany being the primary destination. (TrendEconomy)
- Electrical Machines and Apparatus with Individual Functions: Hungary exported electrical machines and apparatus with individual functions worth approximately $181 million in 2023. (World Integrated Trade Solution)
Top Export Destinations
Hungary’s primary export partners for electrical machinery and equipment in 2023 included:Statista
- Germany: The largest market, receiving a substantial portion of Hungary’s electrical machinery exports.
- Poland: A significant recipient of Hungary’s electrical apparatus exports.TrendEconomy
- Turkey: An important destination for various electrical machinery products.
- Netherlands: A key market for Hungary’s electrical equipment exports.
- United States: An important non-European partner in this sector. (World Integrated Trade Solution)
These figures underscore Hungary’s strong position in the global electrical machinery and equipment market, with a diverse range of products and a broad international customer base.
Vehicles and Parts
In 2023, Hungary’s automotive sector demonstrated significant strength, with exports of vehicles and parts totaling approximately €25.5 billion, marking a 20.7% increase from the previous year . This category accounted for about 17.4% of the country’s total exports .(StatistaTrendEconomy)
🚗 Key Export Products
- Passenger Cars: Exports reached €13.9 billion, making them Hungary’s top export product .(The Observatory of Economic Complexity)
- Motor Vehicle Parts and Accessories: Exports amounted to $9.78 billion, positioning Hungary as the 13th largest exporter globally in this category .(The Observatory of Economic Complexity)
🌍 Top Export Destinations
Hungary’s primary markets for vehicles and parts in 2023 included:
- Germany: €7.3 billion (Statista+1Focus2Move+1)
- Slovakia: $1.36 billion(TrendEconomy+5The Observatory of Economic Complexity+5Volza+5)
- United Kingdom: $528 million(The Observatory of Economic Complexity+2The Observatory of Economic Complexity+2Volza+2)
- Czechia: $455 million(The Observatory of Economic Complexity)
- France: $421 million (Focus2Move+2The Observatory of Economic Complexity+2Volza+2)
Notably, exports to Germany increased by $577 million (21.1%) between 2022 and 2023, while exports to Slovakia grew by $498 million (57.8%) .(The Observatory of Economic Complexity)
⚙️ Industry Insights
Hungary’s automotive industry benefits from the presence of major manufacturers such as Audi, Mercedes-Benz, and Suzuki, which operate significant production facilities within the country. The sector’s growth is further supported by a robust supply chain and strategic location within Europe.
Machinery Including Computers
In 2024, Hungary’s exports of machinery, including computers, reached approximately $26.05 billion, accounting for a significant portion of the country’s total exports. (Trading Economics)
🏭 Key Export Products
- Industrial Machinery: This category includes machinery for manufacturing, construction, and energy sectors.
- Computers and Related Equipment: In 2023, Hungary exported $4.07 billion worth of computers, making it the 11th largest exporter globally.( The Observatory of Economic Complexity)
🌍 Top Export Destinations
Hungary’s primary markets for machinery and computers include:
- Germany
- Netherlands
- United States
- Ireland
- United Kingdom
For instance, in 2023, computer exports to Ireland amounted to $577 million, while exports to the United States were $334 million. (The Observatory of Economic Complexity)
📈 Industry Insights
Hungary’s machinery and computer export sector benefits from a robust manufacturing base and strategic location within Europe. The presence of multinational companies and a skilled workforce contribute to the sector’s competitiveness.
Pharmaceutical Products
In 2024, Hungary’s pharmaceutical export sector experienced significant growth, with exports totaling approximately $10.97 billion, up from $8.46 billion in 2023. This increase reflects Hungary’s expanding role in the global pharmaceutical market. (Trading Economics)
💊 Key Export Products
Hungary’s pharmaceutical exports are primarily composed of the following categories:
- Packaged Medicaments (HS Code 3004): These accounted for 54% of pharmaceutical exports in 2023, valued at approximately $4.64 billion.
- Biotechnological Products (HS Code 3002): Including vaccines and blood products, this category made up 29% of exports, totaling around $2.46 billion.
- Other Pharmaceutical Goods (HS Code 3006): Comprising 11.8% of exports, valued at about $1 billion.(TrendEconomy)
🌍 Top Export Destinations
In 2023, Hungary’s pharmaceutical products were primarily exported to:
- Poland: $931 million (11% of exports)
- Romania: $821 million (9.7%)
- Germany: $685 million (8.1%)(Trading Economics+3TrendEconomy+3TrendEconomy+3
- Czech Republic: $636 million (7.5%)(TrendEconomy)
- France: $604 million (7.1%)
🏭 Industry Overview
Hungary’s pharmaceutical industry is supported by a combination of domestic companies and multinational corporations. The sector benefits from a skilled workforce and a strategic location within Europe, facilitating export activities. In 2023, the industry comprised 76 businesses, with a market size of approximately €4.6 billion. (IBISWorld)
Plastics and Plastic Products
In 2024, Hungary’s exports of plastics and plastic products reached approximately $5.98 billion, reflecting a steady growth trajectory in this sector. (Trading Economics)
🧰 Key Export Categories
Hungary’s plastic exports encompass a diverse range of products, including:
- Plastic Building Materials: In 2023, exports in this category totaled $89.1 million, with primary destinations being Germany ($13.6M), Romania ($12.3M), and Austria ($9.26M). (The Observatory of Economic Complexity)
- Other Plastic Products: This broad category includes various plastic items, with significant export growth observed between 2022 and 2023 to countries such as Italy ($22.1M), the United States ($18.9M), and Czechia ($16.6M). (The Observatory of Economic Complexity)
🌍 Top Export Destinations
Hungary’s primary markets for plastic products include:
- Germany
- Italy
- Romania
- Austria
- Czech Republic
These countries have consistently been among the top importers of Hungarian plastic products, reflecting strong trade relationships within Europe.
🏭 Industry Overview
- Number of Businesses: As of 2024, there are approximately 3,138 businesses operating in Hungary’s plastic product manufacturing industry. (IBISWorld+1IBISWorld+1)
- Market Size: The industry has seen consistent growth, with projections indicating a market size of €4.9 billion by 2028, up from €4.4 billion in 2023. (ReportLinker)
Plastics and Plastic Products
In 2024, Hungary’s exports of plastics and plastic products reached approximately $5.98 billion, reflecting a steady growth trajectory in this sector. (Trading Economics)
🧰 Key Export Categories
Hungary’s plastic exports encompass a diverse range of products, including:
- Plastic Building Materials: In 2023, exports in this category totaled $89.1 million, with primary destinations being Germany ($13.6M), Romania ($12.3M), and Austria ($9.26M).( The Observatory of Economic Complexity)
- Other Plastic Products: This broad category includes various plastic items, with significant export growth observed between 2022 and 2023 to countries such as Italy ($22.1M), the United States ($18.9M), and Czechia ($16.6M).
🌍 Top Export Destinations
Hungary’s primary markets for plastic products include:
- Germany
- Italy
- Romania
- Austria
- Czech Republic
These countries have consistently been among the top importers of Hungarian plastic products, reflecting strong trade relationships within Europe.
🏭 Industry Overview
- Number of Businesses: As of 2024, there are approximately 3,138 businesses operating in Hungary’s plastic product manufacturing industry.
- Market Size: The industry has seen consistent growth, with projections indicating a market size of €4.8 billion by 2025. (IBISWorld)
Mineral Fuels and Oils
In 2024, Hungary’s exports of mineral fuels, oils, and distillation products were valued at approximately $5.56 billion, according to the United Nations COMTRADE database .Trading Economics+1Trading Economics+1
🔍 Key Export Categories
Hungary’s exports in this sector include:
- Crude Petroleum: Hungary imports crude oil primarily via pipeline from Russia and Kazakhstan, which is then refined domestically.
- Refined Petroleum Products: These products are manufactured in Hungary’s refineries and exported to various countries.
- Natural Gas: Hungary imports natural gas from Russia and other countries, which is used domestically and also exported to neighboring nations.
🌍 Top Export Destinations
While specific export destinations for mineral fuels and oils are not detailed in the provided data, Hungary’s primary trade partners include:
- Germany
- Austria
- Slovakia
- Romania
- Italy
These countries are significant importers of Hungarian goods, including energy products.
⚙️ Industry Insights
Hungary’s energy sector is characterized by:
- Refining Capacity: The country has several refineries that process crude oil into various products for domestic use and export.
- Strategic Location: Hungary’s position in Central Europe makes it a key transit country for energy supplies, including natural gas pipelines.
- Energy Imports: Hungary imports a significant portion of its energy needs, particularly natural gas and crude oil, from neighboring countries.
Optical, Technical, and Medical Apparatus
In 2024, Hungary’s exports of optical, technical, and medical apparatus reached approximately $4.68 billion, marking a notable increase from $4.28 billion in 2023 . This sector comprises about 5% of Hungary’s total exports .(Trading EconomicsReportLinker+3Blue Europe+3Trade.gov+3)
🏭 Key Export Categories
Hungary’s exports in this category include:
- Medical Devices: In 2023, Hungary’s medical product expenditure was approximately €1.61 billion, projected to rise to €1.82 billion by 2028 .(ReportLinker+1ReportLinker+1)
- Optical Instruments: Hungary exported $124 million worth of X-ray equipment in 2023, ranking 24th globally .(The Observatory of Economic Complexity)
🌍 Top Export Destinations
The primary markets for Hungary’s optical, technical, and medical apparatus in 2024 were:
- Germany: $1.5 billion(Trading Economics)
- Spain: $145.8 million
🏢 Industry Overview
Hungary’s medical technology industry is export-driven, with nearly 180 enterprises engaged in manufacturing. The sector employs approximately 53,000 people .
Rubber and Rubber Products
In 2024, Hungary’s exports of rubber and rubber products were valued at approximately $3.53 billion, according to the United Nations COMTRADE database .Trading Economics
🧰 Key Export Categories
Hungary’s rubber exports encompass various products, including:The Business Research Company
- Natural Rubber: In 2024, Hungary’s natural rubber exports were projected to reach $695,000, up from $643,000 in 2021, reflecting an average growth rate of 1.3% year-on-year .ReportLinker
- Rubber Products Manufacturing: The rubber product manufacturing industry in Hungary is ranked 10th in Europe, with a 2024 revenue of €3.3 billion .IBISWorld
🌍 Top Export Destinations
While specific data for 2024 is not available, Hungary’s primary markets for rubber products in recent years have included:
- Germany
- United States
- Italy
- France
- United Kingdom
These countries are significant importers of Hungarian rubber products, reflecting strong trade relationships within Europe and beyond.
🏭 Industry Overview
Hungary’s rubber product manufacturing industry is characterized by:
- Number of Businesses: Approximately 174 businesses operating in the sector .IBISWorld
- Market Size: The industry is ranked 10th in Europe with a revenue of €3.3 billion in 2024 .IBISWorld
- Key Companies: Major players in the industry include Continental AG and Apollo Tyres Ltd .IBISWorld
Iron and Steel Products
In 2024, Hungary’s exports of iron and steel products were valued at approximately $1.34 billion, according to the United Nations COMTRADE database .Trading Economics
🏭 Industry Overview
- Market Size: The Iron & Steel Manufacturing industry in Hungary is projected to reach a market size of €1.9 billion in 2025 .IBISWorld
- Number of Businesses: As of 2024, there are 69 businesses operating in Hungary’s iron and steel manufacturing sector .IBISWorld
- Key Players: Notable companies in the industry include Voestalpine AG and Tata Steel Ltd, both of which hold significant market shares in Hungary .IBISWorld
🌍 Top Export Destinations
In 2024, Hungary’s primary export markets for iron and steel products included:
- Austria: $264.15 million Trading Economics
- Germany: Specific export value not detailed in the provided data, but Germany is a significant trading partner for Hungary.
These countries are major importers of Hungarian iron and steel products, reflecting strong trade relationships within Europe.
Furniture and Lighting
In 2024, Hungary’s exports of furniture, lighting, signs, and prefabricated buildings were valued at approximately $1.9 billion, according to the United Nations COMTRADE database .Trading Economics+1Trading Economics+1
🪑 Furniture Exports
Hungary’s furniture exports encompass various categories, including:
- Kitchen Furniture: The export of kitchen furniture from Hungary is projected to reach €10.3 million by 2026, with an annual growth rate of 2.5% .ReportLinker
- General Furniture: The Hungarian furniture and parts thereof market declined to $377 million in 2023, reflecting a decrease of 37.3% compared to the previous year .IndexBox
💡 Lighting Exports
Hungary’s lighting exports include various products, such as:
- Sealed Beam Lamp Units: In 2023, Hungary exported $1.83 million worth of sealed beam lamp units, ranking as the 31st largest exporter globally .The Observatory of Economic Complexity
- Electric Lighting Equipment: The electric lighting equipment manufacturing industry in Hungary has experienced a decline at a compound annual growth rate (CAGR) of 6.9% between 2019 and 2024 .IBISWorld
🌍 Key Export Destinations
While specific data for 2024 is not available, Hungary’s primary export markets for furniture and lighting products in recent years have included:
- Germany
- United States
- Italy
- France
- United Kingdom
These countries are significant importers of Hungarian furniture and lighting products, reflecting strong trade relationships within Europe and beyond.
