Türkiye-Hungary Bilateral Trade Analysis 2023
Complete trade statistics: $4.26B total volume •Türkiye deficit: $797.43M
Türkiye → Hungary
$1.73B
Exports (2023)
Hungary → Türkiye
$2.53B
Imports (2023)
Trade Balance
$797.43M
Deficit for Türkiye
Total Trade
$4.26B
Combined Volume
Trade Flow Visualization
Direct trade relationship between Türkiye and Hungary. Green line shows exports from Türkiye, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the Türkiye-Hungary commercial relationship and competitive positioning in global markets.
Türkiye → Hungary Exports
Export Market Intelligence
🎯 Strategic Export Focus
Türkiye's export portfolio to Hungary demonstrates strategic specialization, with blood, human or animal, antisera, other blood fractions and immunological products: immunological products, unmixed, not put up in measured doses or in forms or packings for retail sale representing a key competitive advantage in this bilateral market.
Hungary → Türkiye Imports
Import Dependency Profile
📦 Import Strategy Analysis
Türkiye's import pattern from Hungary reveals strategic sourcingin vehicles: with only spark-ignition internal combustion reciprocating piston engine, cylinder capacity over 1000 but not over 1500cc, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Türkiye demonstrates competitive strength in exportingblood, human or animal, antisera, other blood fractions and immunological products: immunological products, unmixed, not put up in measured doses or in forms or packings for retail sale to Hungary, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsstrongcomplementarity, with each country specializing in different sectors.
Growth Potential
The $4.26B trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Türkiye-Hungary Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $4.26 billionrepresenting a significant bilateral economic relationship
- Trade Balance: Türkiye maintains a deficit of $797.43 million
- Export Focus: Türkiye's primary exports include blood, human or animal, antisera, other blood fractions and immunological products: immunological products, unmixed, not put up in measured doses or in forms or packings for retail sale, iron or steel: structures and parts thereof, n.e.c. in heading 7308, seat: parts
- Import Dependencies: Key imports from Hungary include vehicles: with only spark-ignition internal combustion reciprocating piston engine, cylinder capacity over 1000 but not over 1500cc, vehicle parts: steering wheels, steering columns and steering boxes: parts thereof, vehicles: with only electric motor for propulsion
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 $4.26B 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 Türkiye leveraging its comparative advantages in blood, human or animal, antisera, other blood fractions and immunological products: immunological products, unmixed, not put up in measured doses or in forms or packings for retail sale.
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
Türkiye's specialization in blood, human or animal, antisera, other blood fractions and immunological products: immunological products, unmixed, not put up in measured doses or in forms or packings for retail salecomplements Hungary's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in vehicles: with only spark-ignition internal combustion reciprocating piston engine, cylinder capacity over 1000 but not over 1500cc.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $4.26B bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $4.26B 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 $4.26 billion bilateral trade volume represents a important trade relationshipfor both economies.
Industrial Integration
Trade flows in blood, human or animal, antisera, other blood fractions and immunological products: immunological products, unmixed, not put up in measured doses or in forms or packings for retail sale and vehicles: with only spark-ignition internal combustion reciprocating piston engine, cylinder capacity over 1000 but not over 1500cc demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Türkiye's trade deficit of $797.43 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 Türkiye and Hungary represents a total trade volume of $4.26 billion in 2023. This partnership demonstrates an unfavorable trade balance for Türkiye, with imports exceeding exportsby $797.43 million.
Export Strengths
Türkiye's exports to Hungary total $1.73 billion, with competitive advantages in blood, human or animal, antisera, other blood fractions and immunological products: immunological products, unmixed, not put up in measured doses or in forms or packings for retail sale, representing $166.13M or9.6% of bilateral exports.
Import Dependencies
Imports from Hungary amount to $2.53 billion, highlighting economic interdependence in vehicles: with only spark-ignition internal combustion reciprocating piston engine, cylinder capacity over 1000 but not over 1500cc, with Vehicles: with only spark-ignition internal combustion reciprocating piston engine, cylinder capacity over 1000 but not over 1500cc comprising11.9% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade deficit indicates Türkiye's strategic sourcing from Hungary. 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 Türkiye and Hungary in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023