Hungary-North Macedonia Bilateral Trade Analysis 2023
Complete trade statistics: $692.50M total volume •Hungary surplus: $32.05M
Hungary → North Macedonia
$362.28M
Exports (2023)
North Macedonia → Hungary
$330.23M
Imports (2023)
Trade Balance
$32.05M
Surplus for Hungary
Total Trade
$692.50M
Combined Volume
Trade Flow Visualization
Direct trade relationship between Hungary and North Macedonia. 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-North Macedonia commercial relationship and competitive positioning in global markets.
Hungary → North Macedonia Exports
Export Market Intelligence
Product-level data is available for major trade relationships.
For detailed Hungary-North Macedonia product breakdown, please refer to each country's overall trade statistics.
🎯 Strategic Export Focus
Hungary's export portfolio to North Macedonia demonstrates strategic specialization, with leading products representing a key competitive advantage in this bilateral market.
North Macedonia → Hungary Imports
Import Dependency Profile
Product-level data is available for major trade relationships.
For detailed Hungary-North Macedonia product breakdown, please refer to each country's overall trade statistics.
📦 Import Strategy Analysis
Hungary's import pattern from North Macedonia reveals strategic sourcingin key sectors, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Hungary demonstrates competitive strength in exportingkey products to North Macedonia, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsstrongcomplementarity, with each country specializing in different sectors.
Growth Potential
The $692.50M trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Hungary-North Macedonia Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $692.50 millionrepresenting a significant bilateral economic relationship
- Trade Balance: Hungary maintains a surplus of $32.05 million
- Export Focus: Hungary's primary exports include various products
- Import Dependencies: Key imports from North Macedonia include various products
Strategic Trade Indicators
📈 Market Position: This bilateral trade relationship represents an important regional 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 $692.50M 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 key sectors.
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 key industriescomplements North Macedonia's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in manufacturing sectors.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $692.50M bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $692.50M 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 $692.50 million bilateral trade volume represents a important trade relationshipfor both economies.
Industrial Integration
Trade flows in key sectors and manufacturing demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Hungary's trade surplus of $32.05 million 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 North Macedonia represents a total trade volume of $692.50 million in 2023. This partnership demonstrates a favorable trade balance for Hungary, with exports exceeding importsby $32.05 million.
Export Strengths
Hungary's exports to North Macedonia total $362.28 million, with competitive advantages in key sectors.
Import Dependencies
Imports from North Macedonia amount to $330.23 million, highlighting economic interdependence in manufacturing sectors.
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 North Macedonia in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023