Hungary-Slovakia Bilateral Trade Analysis 2023
Complete trade statistics: $14.77B total volume •Hungary deficit: $564.45M
Hungary → Slovakia
$7.10B
Exports (2023)
Slovakia → Hungary
$7.67B
Imports (2023)
Trade Balance
$564.45M
Deficit for Hungary
Total Trade
$14.77B
Combined Volume
Trade Flow Visualization
Direct trade relationship between Hungary and Slovakia. 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-Slovakia commercial relationship and competitive positioning in global markets.
Hungary → Slovakia Exports
Export Market Intelligence
🎯 Strategic Export Focus
Hungary's export portfolio to Slovakia demonstrates strong diversification across multiple sectors, with engines: reciprocating piston engines, of a kind used for the propulsion of vehicles of chapter 87, of a cylinder capacity exceeding 1000cc representing a key competitive advantage in this bilateral market.
Slovakia → Hungary Imports
Import Dependency Profile
📦 Import Strategy Analysis
Hungary's import pattern from Slovakia reveals strategic sourcingin electrical energy, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Hungary demonstrates competitive strength in exportingengines: reciprocating piston engines, of a kind used for the propulsion of vehicles of chapter 87, of a cylinder capacity exceeding 1000cc to Slovakia, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsstrongcomplementarity, with each country specializing in different sectors.
Growth Potential
The $14.77B trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Hungary-Slovakia Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $14.77 billionrepresenting a significant bilateral economic relationship
- Trade Balance: Hungary maintains a deficit of $564.45 million
- Export Focus: Hungary's primary exports include engines: reciprocating piston engines, of a kind used for the propulsion of vehicles of chapter 87, of a cylinder capacity exceeding 1000cc, vehicle parts: gear boxes and parts thereof, vehicles: parts and accessories, of bodies, other than safety seat belts
- Import Dependencies: Key imports from Slovakia include electrical energy, 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, telephones for cellular networks or for other wireless networks
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 $14.77B 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 engines: reciprocating piston engines, of a kind used for the propulsion of vehicles of chapter 87, of a cylinder capacity exceeding 1000cc.
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 engines: reciprocating piston engines, of a kind used for the propulsion of vehicles of chapter 87, of a cylinder capacity exceeding 1000cccomplements Slovakia's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in electrical energy.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $14.77B bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $14.77B 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 $14.77 billion bilateral trade volume represents a significant economic factorfor both economies.
Industrial Integration
Trade flows in engines: reciprocating piston engines, of a kind used for the propulsion of vehicles of chapter 87, of a cylinder capacity exceeding 1000cc and electrical energy demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Hungary's trade deficit of $564.45 million 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 Slovakia represents a total trade volume of $14.77 billion in 2023. This partnership demonstrates an unfavorable trade balance for Hungary, with imports exceeding exportsby $564.45 million.
Export Strengths
Hungary's exports to Slovakia total $7.10 billion, with competitive advantages in engines: reciprocating piston engines, of a kind used for the propulsion of vehicles of chapter 87, of a cylinder capacity exceeding 1000cc, representing $583.21M or8.2% of bilateral exports.
Import Dependencies
Imports from Slovakia amount to $7.67 billion, highlighting economic interdependence in electrical energy, with Electrical energy comprising15.8% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade deficit indicates Hungary's strategic sourcing from Slovakia. 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 Slovakia in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023