Hungary

Hungary ranked No. 51 in total trade value through June with a total of $3.29 billion. Exports totaled $1.04 billion and Imports totaled $2.24 billion, a deficit of $1.2 billion.

U.S. trade with Hungary rose to $3.29 billion through June

Hungary’s trade with the United States rose to $3.29 billion through the first six months of 2020, according to a WorldCity analysis of latest U.S. Census Bureau data. That’s 1.49 percent below its total trade during the same time period last year. U.S. exports to Hungary increased 7.36 percent while U.S. imports from Hungary fell 5.13 percent. The U.S. deficit with Hungary was $1.2 billion.

Through June, the top five among the nation’s airports, seaports and border crossings were No. 1 Port of Newark; No. 2 Chicago O’Hare International Airport; No. 3 Port of Charleston; No. 4 Hartsfield-Jackson Atlanta International Airport; and No. 5 Port of New Orleans. During the same period the previous year, the top five were No. 1 Port of Virginia; No. 2 Port of Newark; No. 3 Chicago O’Hare International Airport; No. 4 Port of Houston and No. 5 Port of Charleston. In the current time period, the top five accounted for 34.74 percent of Hungary’s U.S. trade.

Among those top five:

  • Trade with No. 1 Port of Newark rose 19.31 percent to $322.76 million.
    Exports rose 33.18 percent to $23.06 million. Imports rose 18.36 percent to $299.7 million.
  • Trade with No. 2 Chicago O’Hare International Airport rose 9.07 percent to $238.03 million.
    Exports fell 6.45 percent to $56.02 million. Imports rose 14.94 percent to $182.01 million.
  • Trade with No. 3 Port of Charleston rose 12.62 percent to $216.5 million.
    Exports fell 9.35 percent to $12.16 million. Imports rose 14.26 percent to $204.34 million.
  • Trade with No. 4 Hartsfield-Jackson Atlanta International Airport rose 13.33 percent to $183.75 million.
    Exports rose 48.71 percent to $59.14 million. Imports rose 1.83 percent to $124.61 million.
  • Trade with No. 5 Port of New Orleans rose 3.89 percent to $180.4 million.
    Exports fell 1.08 percent to $54.63 million. Imports rose 6.21 percent to $125.76 million.

Hungary ranked No. 51 among the United States’ top trade partners through the current period. In the same period one year ago, it ranked No. 55.

Meanwhile, total U.S. trade with the world increased to $1.77 trillion, down 57.4 percent compared to the same period last year. The nation’s exports dropped 58.23 percent to $687.16 billion; imports dropped 56.85 percent to $1.08 trillion. The nation’s top five countries so far this year, by value, are Canada; Mexico; China; Japan and Germany. The overall trade deficit was $391.01 billion, down compared to the same period of last year when the deficit was $853.23 billion.

The top five U.S. exports to Hungary by value through June were the categories of Misc. aircraft parts; Plasma, vaccines, blood; Computer chips; Cell phones, related equipment; and Computer parts, respectively. They accounted for 42.9 percent of total exports to Hungary.

The value of the top five categories of U.S. imports from Hungary –– Passenger vehicles; Computers; Electric storage batteries; Misc. aircraft parts; and Returned exports, without change –– accounted for 36.08 percent of all inbound shipments.

Looking more closely at U.S. exports to Hungary:

  • Misc. aircraft parts fell 17.16 percent compared to last year to $120.11 million.
  • Plasma, vaccines, blood rose 293.54 percent compared to last year to $93.55 million.
  • Computer chips rose 516.74 percent compared to last year to $89.94 million.
  • Cell phones, related equipment fell 6.53 percent compared to last year to $73.36 million.
  • Computer parts rose 354.34 percent compared to last year to $70.69 million.

Looking more closely at U.S. imports from Hungary:

  • Passenger vehicles rose 33.32 percent compared to last year to $350.39 million.
  • Computers rose 57.74 percent compared to last year to $154.01 million.
  • Electric storage batteries rose 2473.54 percent compared to last year to $102.03 million.
  • Misc. aircraft parts fell 8.99 percent compared to last year to $101.39 million.
  • Returned exports, without change rose 28.79 percent compared to last year to $101.04 million.

In the latest annual figures available, Hungary recorded $7.23 billion in trade with the United States. Total U.S. exports to Hungary were $ 1.92 billion and imports from Hungary were $5.31 billion. The U.S. deficit with Hungary was $3.4 billion.