Hungary-Italy Bilateral Trade Analysis 2023
Complete trade statistics: $14.98B total volume •Hungary surplus: $2.99B
Hungary → Italy
$8.99B
Exports (2023)
Italy → Hungary
$5.99B
Imports (2023)
Trade Balance
$2.99B
Surplus for Hungary
Total Trade
$14.98B
Combined Volume
Trade Flow Visualization
Direct trade relationship between Hungary and Italy. 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-Italy commercial relationship and competitive positioning in global markets.
Hungary → Italy Exports
Export Market Intelligence
🎯 Strategic Export Focus
Hungary's export portfolio to Italy demonstrates strong diversification across multiple sectors, with electric accumulators: lithium-ion, including separators, whether or not rectangular (including square) representing a key competitive advantage in this bilateral market.
Italy → Hungary Imports
Import Dependency Profile
📦 Import Strategy Analysis
Hungary's import pattern from Italy reveals strategic sourcingin aluminium: unwrought, (not alloyed), highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Hungary demonstrates competitive strength in exportingelectric accumulators: lithium-ion, including separators, whether or not rectangular (including square) to Italy, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsstrongcomplementarity, with each country specializing in different sectors.
Growth Potential
The $14.98B trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Hungary-Italy Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $14.98 billionrepresenting a significant bilateral economic relationship
- Trade Balance: Hungary maintains a surplus of $2.99 billion
- Export Focus: Hungary's primary exports include electric accumulators: lithium-ion, including separators, whether or not rectangular (including square), vehicles: with only compression-ignition internal combustion piston engine (diesel or semi-diesel), cylinder capacity over 1500 but not over 2500cc, vehicles: with both spark-ignition internal combustion reciprocating piston engine and electric motor for propulsion, incapable of being charged by plugging to external source of electric power
- Import Dependencies: Key imports from Italy include aluminium: unwrought, (not alloyed), copper: wire, of refined copper, of which the maximum cross-sectional dimension exceeds 6mm, medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale
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 $14.98B 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 electric accumulators: lithium-ion, including separators, whether or not rectangular (including square).
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 electric accumulators: lithium-ion, including separators, whether or not rectangular (including square)complements Italy's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in aluminium: unwrought, (not alloyed).
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $14.98B bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $14.98B 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 $14.98 billion bilateral trade volume represents a significant economic factorfor both economies.
Industrial Integration
Trade flows in electric accumulators: lithium-ion, including separators, whether or not rectangular (including square) and aluminium: unwrought, (not alloyed) demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Hungary's trade surplus of $2.99 billion strengthens 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 Italy represents a total trade volume of $14.98 billion in 2023. This partnership demonstrates a favorable trade balance for Hungary, with exports exceeding importsby $2.99 billion.
Export Strengths
Hungary's exports to Italy total $8.99 billion, with competitive advantages in electric accumulators: lithium-ion, including separators, whether or not rectangular (including square), representing $935.81M or10.4% of bilateral exports.
Import Dependencies
Imports from Italy amount to $5.99 billion, highlighting economic interdependence in aluminium: unwrought, (not alloyed), with Aluminium: unwrought, (not alloyed) comprising2.6% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade surplus indicates Hungary's competitive position in this bilateral relationship. 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 Italy in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023