Hungary

Hungary ranked No. 50 in total trade value through April with a total of $2.39 billion. Exports totaled $739.04 million and Imports totaled $1.65 billion, a deficit of $908.65 million.

U.S. trade with Hungary rose to $1.84 billion through March

Hungary’s trade with the United States rose to $1.84 billion through the first three months of 2020, according to a WorldCity analysis of latest U.S. Census Bureau data. That’s 10.59 percent above its total trade during the same time period last year. U.S. exports to Hungary increased 13.26 percent while U.S. imports from Hungary rose 9.53 percent. The U.S. deficit with Hungary was $762.89 million.

Through March, 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 Port of New Orleans; and No. 5 Port of Houston. 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 Hartsfield-Jackson Atlanta International Airport and No. 5 Port of Charleston. In the current time period, the top five accounted for 32.6 percent of Hungary’s U.S. trade.

Among those top five:

  • Trade with No. 1 Port of Newark rose 41.07 percent to $181.8 million.
    Exports rose 107.54 percent to $19.77 million. Imports rose 35.77 percent to $162.03 million.
  • Trade with No. 2 Chicago O’Hare International Airport fell 4.08 percent to $109.14 million.
    Exports fell 28.96 percent to $21.9 million. Imports rose 5.17 percent to $87.24 million.
  • Trade with No. 3 Port of Charleston rose 13.08 percent to $103.94 million.
    Exports fell 15.64 percent to $7.21 million. Imports rose 16.02 percent to $96.73 million.
  • Trade with No. 4 Port of New Orleans rose 16.62 percent to $102.52 million.
    Exports rose 5.63 percent to $32.57 million. Imports rose 22.55 percent to $69.95 million.
  • Trade with No. 5 Port of Houston rose 70.56 percent to $101.48 million.
    Exports rose 18.62 percent to $15.35 million. Imports rose 85 percent to $86.13 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. 58.

Meanwhile, total U.S. trade with the world increased to $964.77 billion, down 4.16 percent compared to the same period last year. The nation’s exports dropped 3.07 percent to $395.69 billion; imports dropped 4.91 percent to $569.09 billion. The nation’s top five countries so far this year, by value, are Mexico; Canada; China; Japan and Germany. The overall trade deficit was $173.4 billion, down compared to the same period of last year when the deficit was $190.25 billion.

The top five U.S. exports to Hungary by value through March were the categories of Aircraft engines, engine parts; Cell phones, related equipment; Plasma, vaccines, blood; Computer parts; and Civilian aircraft, parts, respectively. They accounted for 35.88 percent of total exports to Hungary.

The value of the top five categories of U.S. imports from Hungary –– Passenger vehicles; Value added to a returned import; Computers; Electric storage batteries; and Aircraft engines, engine parts –– accounted for 39.86 percent of all inbound shipments.

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

  • Aircraft engines, engine parts fell 15.66 percent compared to last year to $48.65 million.
  • Cell phones, related equipment rose 38.94 percent compared to last year to $41.19 million.
  • Plasma, vaccines, blood rose 136.44 percent compared to last year to $37.47 million.
  • Computer parts rose 266.97 percent compared to last year to $35.22 million.
  • Civilian aircraft, parts rose 16.66 percent compared to last year to $30.17 million.

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

  • Passenger vehicles rose 37.13 percent compared to last year to $264.47 million.
  • Value added to a returned import rose 74.22 percent compared to last year to $68.76 million.
  • Computers rose 37.12 percent compared to last year to $67.26 million.
  • Electric storage batteries rose 3705 percent compared to last year to $59.56 million.
  • Aircraft engines, engine parts fell 6.6 percent compared to last year to $58.02 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.