Hungary-Austria Bilateral Trade Analysis 2023
Complete trade statistics: $14.32B total volume •Hungary deficit: $2.63B
Hungary → Austria
$5.84B
Exports (2023)
Austria → Hungary
$8.47B
Imports (2023)
Trade Balance
$2.63B
Deficit for Hungary
Total Trade
$14.32B
Combined Volume
Trade Flow Visualization
Direct trade relationship between Hungary and Austria. Green line shows exports from Hungary, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the Hungary-Austria commercial relationship and competitive positioning in global markets.
Hungary → Austria Exports
Export Market Intelligence
🎯 Strategic Export Focus
Hungary's export portfolio to Austria demonstrates strong diversification across multiple sectors, with electrical energy representing a key competitive advantage in this bilateral market.
Austria → Hungary Imports
Import Dependency Profile
📦 Import Strategy Analysis
Hungary's import pattern from Austria reveals strategic sourcingin petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Hungary demonstrates competitive strength in exportingelectrical energy to Austria, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsstrongcomplementarity, with each country specializing in different sectors.
Growth Potential
The $14.32B trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Hungary-Austria Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $14.32 billionrepresenting a significant bilateral economic relationship
- Trade Balance: Hungary maintains a deficit of $2.63 billion
- Export Focus: Hungary's primary exports include electrical energy, cereals: wheat and meslin, other than durum wheat, other than seed, electric accumulators: lithium-ion, including separators, whether or not rectangular (including square)
- Import Dependencies: Key imports from Austria include petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils, petroleum gases and other gaseous hydrocarbons: in gaseous state, natural gas, electrical energy
Strategic Trade Indicators
📈 Market Position: This bilateral trade relationship represents a significant global trade partnerships, with complementary economic strengths driving sustained commercial exchange.
Historical Trade Analysis & Economic Context
Trade Evolution Timeline
2019-2023: Recent Trends
Current trade volume of $14.32B represents the culmination of evolving bilateral commercial relationships, influenced by global supply chain shifts and changing economic priorities.
2015-2019: Growth Period
Sustained expansion in bilateral trade driven by complementary economic structures, with Hungary leveraging its comparative advantages in electrical energy.
2010-2015: Foundation Building
Establishment of modern trade frameworks and reduction of barriers, facilitating increased commercial exchange and investment flows between the two economies.
Pre-2010: Early Development
Initial stages of bilateral trade relationship development, with focus on traditional export-import patterns and gradual market integration.
Key Economic Drivers
Comparative Advantage
Hungary's specialization in electrical energycomplements Austria's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $14.32B bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $14.32B bilateral trade volume positions this relationship for continued growth, supported by technological advancement, evolving consumer preferences, and strengthening economic ties. Key opportunities lie in expanding cooperation in emerging sectors while managing potential supply chain vulnerabilities.
Economic Impact & Strategic Outlook
Economic Impact Assessment
Trade Volume Impact
The $14.32 billion bilateral trade volume represents a significant economic factorfor both economies.
Industrial Integration
Trade flows in electrical energy and petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Hungary's trade deficit of $2.63 billion impacts its overall economic position in this bilateral relationship.
Strategic Future Outlook
🚀Growth Opportunities
⚠️Risk Factors
🎯Strategic Recommendations
- Strengthen cooperation in high-value sectors beyond current trade patterns
- Develop alternative supply chains to reduce dependency risks
- Explore joint ventures in emerging technology sectors
- Enhance trade facilitation and reduce transaction costs
Market Position & Competitive Summary
The bilateral trade relationship between Hungary and Austria represents a total trade volume of $14.32 billion in 2023. This partnership demonstrates an unfavorable trade balance for Hungary, with imports exceeding exportsby $2.63 billion.
Export Strengths
Hungary's exports to Austria total $5.84 billion, with competitive advantages in electrical energy, representing $158.41M or2.7% of bilateral exports.
Import Dependencies
Imports from Austria amount to $8.47 billion, highlighting economic interdependence in petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils, with Petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils comprising11.5% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade deficit indicates Hungary's strategic sourcing from Austria. This partnership is characterized by complementary trade flows, with each country specializing in different product categories based on their respective economic strengths, industrial capabilities, and position in global value chains.
Download Bilateral Trade Data
Access detailed trade data between Hungary and Austria in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023