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27 September 2024
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Key Indicators
- 11,866,067
- 64,002
- Export Trading Partners219
- 10,502,661
- 35,818
- Import Trading Partners230
Overview
Hungary: Navigating Trade Prospects Amidst Geography and Infrastructure
Nestled in Central Europe, Hungary boasts a blend of historical charm and modern economic potential. As of 2024, it holds the 54th position in global GDP rankings. Positioned as a crossroads between Eastern and Western Europe, Hungary enjoys a strategic location that fuels its trade dynamics.
Introduction:
Hungary, a dynamic market in Central Europe, primarily imports machinery, electronic equipment, and vehicles. These sectors are vital for supporting its robust automotive industry and various manufacturing activities, creating substantial opportunities for global exporters.
Economic Overview:
Hungary's economy, notable for its strong industrial sector, ranks as a significant player within the European Union in terms of GDP. Imports are crucial to its economic structure, especially in high-tech and capital goods, which are essential for its manufacturing base. Ongoing efforts towards economic diversification, particularly in the renewable energy and tech sectors, are reshaping its import needs.
Political and Regulatory Environment:
The political landscape in Hungary is stable but often scrutinized for governance practices. As a member of the EU, Hungary's import policies are influenced by EU regulations, which facilitates a streamlined trade process across member states. Recent legislative changes and trade agreements within the EU continue to impact the import dynamics.
Opportunities and Challenges for Exporters:
Exporters can leverage gaps in the Hungarian market, particularly in advanced technology and renewable energy equipment. However, challenges include navigating regulatory complexities and economic policies that may favor domestic over foreign enterprises.
Positives:
1. Strategic Crossroads: Hungary's central European location positions it as a gateway for trade between Eastern and Western Europe. This advantageous geography facilitates efficient transit and accessibility to major markets.
2. Robust Infrastructure: Well-developed transportation networks, including road and rail systems, enhance Hungary's connectivity. The Danube River further contributes to efficient trade routes and supports the nation's economic activities.
3. Membership in the European Union: Hungary's EU membership provides access to a vast single market, fostering trade relationships and economic integration.
Negatives:
1. Landlocked Challenge: Despite strategic positioning, Hungary faces challenges as a landlocked country, relying heavily on neighboring nations for sea access. This limitation can impact maritime trade and increase dependency on transport infrastructure.
2. Currency Volatility: The Hungarian Forint's susceptibility to fluctuations introduces risks for businesses engaged in international trade.
3. Trade Imbalances: Hungary has experienced trade deficits in the past, reflecting challenges in maintaining a balance between imports and exports.
Hungary import export data, including buyer and supplier names, is available on the Volza Platform.
Hungary import export data, including buyer and supplier names, is available on the Volza Platform.
Imports:
In September 2023, Hungary ranked 19th in global imports, with imports valued at 114.04 billion, representing a -14% growth from September 2022.From September 2023 to September 2024, the country's imports amounted to US$269.1 billion, showing a 23% growth from the preceding year.
In 2024, imports totaled 114.04 billion, marking a -28% YOY growth from 2023. Sources of these imports were Germany, China, Austria, Poland, Rep. of Korea, Czechia, Slovakia, Netherlands, Italy, Russian Feder. Imported products were Electrical machinery and equipment, Machinery and equipment, Vehicles and Parts other than railway or tramway. Suppliers were NOKIA SOLUTIONS AND NETWORKS INDONESIA, MAGYAR SUZUKI CORPORATION LTD, and LORENZ SHOE GROUP. Importers in Hungary were Germany: 22.8%, China: 6.7%, and Austria: 6.1%.
Top 10 Import Products:
- Crude Petroleum (HS code: 2709) - Energy sector support.
- Cars (HS code: 8703) - Automotive industry replenishment.
- Packaged Medicaments (HS code: 3004) - Healthcare sector demand.
- Refined Petroleum (HS code: 2710) - Fuel supply for various industries.
- Broadcasting Equipment (HS code: 8525) - Media and communication expansion.
- Computers (HS code: 8471) - IT infrastructure development.
- Vehicle Parts (HS code: 8708) - Automotive manufacturing needs.
- Insulated Wire (HS code: 8544) - Electrical and electronic industries.
- Integrated Circuits (HS code: 8542) - Tech sector inputs.
- Office Machine Parts (HS code: 8473) - Business operational tools.
Top Buyers from Hungary:
VEONEER FRANCE SAFETY SYSTEMS SAS, VEND HUNGARIA KFT, VEGA IMPEX KFT
Solution for Global Exporters:
To effectively tap into Hungary's import market, global exporters are encouraged to utilize Volza’s online import data. This tool provides in-depth analysis and actionable insights, enabling exporters to quickly understand market trends, identify opportunities, and strategically position their products. Volza simplifies market entry, aiding in efficient and effective decision-making processes.
Import Database - Factsheet
Data Source- Detailed Mirror data
- Data Available From
- 01, Jan, 2019
Data Coverage- 40%
Last Shipment- 01, Mar, 2024
Source : Volza Import Data
Hungary
Import Data
Import Data
10,502,661 Bill of Ladings, 35,818 Buyers & 64,002 Suppliers
Import
vs
Export
Jan-Dec 2023
Shipments
Data Source: VolzaImport Data
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Search Import Export Data
Reach out to the Hungary Import market Identify verified and active business partners in Hungary
Hungary Import Data
Product | Importers | Suppliers | Arrival Date |
|---|---|---|---|
ELMEX SWITCHES : Buyer code:ST435-530-00 | 30-04-2024 | ||
HEAT EXCHANGER LC-10O/11O-AGCO-FERT / 88 | 30-04-2024 | ||
SIMVASTATIN TAB 20MG EU ST-C PACKS: |   India | 30-04-2024 | |
TELECOM SPARE PARTS / ACCESSORIES / COMPONENT S/N. QD1246UE037 3CM03508E | 30-04-2024 | ||
TELECOM SPARE PARTS / ACCESSORIES / COMPONENT S/N. NS2138T0077 3HE11597A | 30-04-2024 | ||
TELECOM SPARE PARTS / ACCESSORIES / COMPONENT S/N. EZ054733549 3AL94212A | 30-04-2024 |
Top 10 Importers
Hungary Top 10 Importers
Within our Volza database, we possess comprehensive information about over 10 active importers in Hungary. To assist you in identifying the leading importers in Hungary, Volza offers an advanced feature that analyzes billions of shipping invoices using more than 20 parameters. Noteworthy among the top 10 importers in Hungary are companies like NOKIA SOLUTIONS AND NETWORKS INDONESIA, MAGYAR SUZUKI CORPORATION LTD , and LORENZ SHOE GROUP. These key players are featured prominently within our extensive database. For a more comprehensive overview, please refer to our table, which outlines the top 10 importers, and explore the additional resources provided below.
Hungary Top 10 Importers
| Rank | Importers | Shipments |
|---|---|---|
1 | 84,430 | |
2 | 32,181 | |
3 | 22,453 | |
4 | 21,619 | |
5 | 21,317 | |
6 | 17,373 | |
7 | 15,692 | |
8 | 14,272 | |
9 | 13,889 | |
10 | 13,563 |
Data Source : Volza Import Data
Top 10 Import Products
Hungary Top 10 Import Products
As the Hungary import data reveals, the nation's top import products for 2024 were prominently characterized by:- Lady Shoe: 70.94%
- Automobile Component: 17.02%
- Automotive Door: 6.22%
- Valve Seat: 2.68%
- Mobile Antenna: 0.93%
- Sfp Module: 0.81%
- Desktop Computers: 0.72%
- Analog Input Module: 0.31%
- Stainless Steel Plug: 0.25%
- Banknote Sorting: 0.12%
Hungary Top 10 Import Products
| Rank | Import Products | Shipments |
|---|---|---|
1 | LADY SHOE | 17,126,638 |
2 | Automobile Component | 4,108,511 |
3 | Automotive Door | 1,502,115 |
4 | Valve Seat | 647,441 |
5 | Mobile Antenna | 225,072 |
6 | SFP Module | 195,495 |
7 | Desktop Computers | 174,011 |
8 | ANALOG INPUT MODULE | 75,766 |
9 | STAINLESS STEEL PLUG | 59,751 |
10 | Banknote Sorting | 28,664 |
Data Source : Volza Import Data
Trading Partners
Top Trading Partners of Hungary
Import Trading Partners
Export Trading Partners
Top 1 Import Trading Partners
Hungary Top 1 Import Trading Partners
Hungary trade data from 2024 highlights the nation's top 1 import partners as follows: INDIA (USD 731,106).
The growth rates for the leading three importers were as follows: India at 100.00% .
Trade balance analysis reveals that Hungary had a trade deficit with both Iran and China. Specifically, the deficit amounted to USD 300 million with Iran and USD 150 million with China in that year. Hungary import statistics show that the country's top 1 import partners in 2024 collectively contributed 87.2% to the overall value of import shipments. Furthermore, Hungary’s major imports from India include Automobile Component, Valve Seat, SFP Module, Automotive Door, Mobile Antenna, Desktop Computers, LADY SHOE, Banknote Sorting, ANALOG INPUT MODULE, STAINLESS STEEL PLUG, products. The provided chart below breaks down the values in percentile of Hungary’s top 1 import partners for 2024.
Hungary Top 1 Import Trading Partners
| Rank | Import Trading Partners | Shipments |
|---|
Data Source : Volza Import Data
Import Data Sample record
Hungary Import Data Sample record
Hungary import data covers all important shipping details that are essential for businesses to find importers in Hungary, analyze market trends and identify potential industries. Hungary trade data contains customs-based details including Date, Importer Name, HS Code, HS Code Description, Commercial Description, Gross Weight, Net Weight, Total Value USD and Origin Country. View Hungary import data sample with complete number of fields available in data.
Hungary Import Data Sample record
Wine of fresh grapes, including fortified wines; grape must other than that of heading 2009
- Date:
- 30 Apr 2024
- HS Code:
- 85389000
- Quantity:
- 400
- Quantity Unit:
- NOS
- Value FC:
- 684
- Value:
- HS Descirption:
- Parts suitable for use solely or principally with the apparatus of headings 8535, 8536 or 8237
- Exporter:
- ELMEX CONTROLS PVT LTD
- Importer:
- SE-CEE Schneider Electric
Data Source : Volza Import Data
Hungary Import Fields
S.No | Data Fields |
|---|---|
1 | |
2 | |
3 | |
4 | |
5 | |
6 | |
7 | |
8 | |
9 |
Total 72 Fields
Data Source : Volza Import Data
Top 10 Import Ports
Hungary Top 10 Import Ports
Hungary's global import trade operates through over 10 ports. Budapest stands as the predominant port, handling 516,995 import shipments, which constitutes a 72.21% market share. Hamburg follows with an 12.23% share, accounting for 87,572 shipments, while Koper contributes a 12.15% market share with its 86,954 shipments. For detailed import trade statistics of each port in Hungary, refer to the provided links below. Collectively, these ports underscore the integrated nature of Hungary's trade infrastructure. As the trade data indicates, these crucial import ports facilitate the consistent delivery of essential goods across Hungary.
Hungary Top 10 Import Ports
| Rank | Importers | Count |
|---|
Data Source : Volza Import Data
Import Bill of Lading
- Import Shipments of Hungary
- 10,502,661
- Date
- 30-04-2024
- Shipper Name
- SE-CEE Schneider Electric
- Consignee Name
- ELMEX CONTROLS PVT LTD
- Weight Unit
- NOS
- Quantity
- 400
- Shipment Origin
- India
- Port of origin
- Ahmedabad Air