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Trade between Hungary and South Korea

In 2024, Hungary exported $727 million to South Korea and imported $5.8 billion. Hungary ran a deficit of $5.1 billion with South Korea, compared with a deficit of $2.6 billion in 2019. South Korea was Hungary’s 14th largest trading partner (2% of its trade), and Hungary was South Korea’s 31st (0.5%).

Summary

Hungary → South Korea
$727million
South Korea → Hungary
$5.8billion
Hungary’s balance
-$5.1billion

Balance

Hungary’s trade balance with South Korea

Trade between Hungary and South Korea grew 33.8-fold since 1995

USD billions (current). Hungary’s exports and imports; bars: its balance (green surplus, red deficit).

  • Exports 0.7
  • Imports 5.8
  • Balance -5.1

Source: CEPII BACI

Show the numbers
YearExportsImportsTrade balance
1995$23 million$171 million-$148 million
1996$29 million$199 million-$170 million
1997$71 million$193 million-$122 million
1998$35 million$338 million-$303 million
1999$67 million$401 million-$334 million
2000$106 million$580 million-$474 million
2001$96 million$394 million-$298 million
2002$106 million$611 million-$506 million
2003$91 million$878 million-$787 million
2004$134 million$913 million-$778 million
2005$157 million$1.2 billion-$1 billion
2006$235 million$1.8 billion-$1.5 billion
2007$275 million$2.4 billion-$2.1 billion
2008$378 million$2.1 billion-$1.7 billion
2009$300 million$2.3 billion-$2 billion
2010$416 million$3.3 billion-$2.9 billion
2011$474 million$2.2 billion-$1.7 billion
2012$446 million$1.6 billion-$1.1 billion
2013$451 million$2.4 billion-$1.9 billion
2014$457 million$2.1 billion-$1.7 billion
2015$723 million$1.7 billion-$937 million
2016$634 million$1.1 billion-$434 million
2017$676 million$1.4 billion-$733 million
2018$670 million$2.4 billion-$1.7 billion
2019$493 million$3.1 billion-$2.6 billion
2020$678 million$3.6 billion-$3 billion
2021$730 million$4.4 billion-$3.7 billion
2022$804 million$6 billion-$5.2 billion
2023$815 million$4.4 billion-$3.6 billion
2024$727 million$5.8 billion-$5.1 billion

What they sell each other

What Hungary sells to South Korea

The top 10 headings in 2024, with their share of the total.

  1. Cars$81 million · 11.2%
    4 thousand tonnes · Hungary’s destinations
  2. Electric motors and generators$66 million · 9.1%
    2 thousand tonnes
  3. Auto parts$58 million · 7.9%
    1 thousand tonnes · Hungary’s destinations
  4. Computers$28 million · 3.8%
    77 tonnes · Hungary’s destinations
  5. Turbojets and gas turbines$23 million · 3.2%
    20 tonnes · Hungary’s destinations
  6. Transformers and power supplies$22 million · 3%
    139 tonnes
  7. Cameras and broadcast equipment$21 million · 2.9%
    110 tonnes
  8. Industrial fatty acids and oils$20 million · 2.8%
    5 thousand tonnes
  9. Other engines and motors$20 million · 2.7%
    948 tonnes
  10. Batteries$20 million · 2.7%
    406 tonnes · Hungary’s destinations

What South Korea sells to Hungary

The top 10 headings in 2024, with their share of the total.

  1. Industrial fatty acids and oils$1.7 billion · 29.7%
    45 thousand tonnes
  2. Vaccines, blood and antisera$1.4 billion · 23.7%
    469 tonnes · South Korea’s destinations
  3. Cars$334 million · 5.8%
    24 thousand tonnes · South Korea’s destinations
  4. Chromates, permanganates and other metal salts$282 million · 4.9%
    8 thousand tonnes
  5. Batteries$242 million · 4.2%
    9 thousand tonnes · South Korea’s destinations
  6. Other plastic sheets$241 million · 4.2%
    7 thousand tonnes
  7. Cameras and broadcast equipment$183 million · 3.2%
    625 tonnes
  8. Other industrial machines$128 million · 2.2%
    2 thousand tonnes
  9. Polystyrene$76 million · 1.3%
    36 thousand tonnes
  10. Copper foil$75 million · 1.3%
    5 thousand tonnes

How it travels

Estimated sea route from Rijeka (Croatia) to Busan.

The estimated sea route between Rijeka (Croatia) and Busan is 15,061 nautical miles (27,892 km) long: ≈ 35–45 days at sea (at 18 and 14 knots).

Because of the 2024 disruptions, traffic is split: 85% via the Strait of Gibraltar, the Cape of Good Hope and the Strait of Malacca and Singapore (15,061 nautical miles); and 15% via the Suez Canal, the Bab-el-Mandeb Strait and the Strait of Malacca and Singapore (8,937 nautical miles).

Hungary is landlocked: it ships through Rijeka (Croatia).

Sailing estimate without port calls, waiting or transshipment; not a schedule. One main reference port per country: in large countries it does not represent all of its ports.

Split by transport mode

  1. Sea$4.1 billion · 63.1%
  2. Air$2.4 billion · 36.9%

Mode estimated from value per kilo and geography; both directions together.

How much each matters to the other

South Korea was Hungary’s 14th largest trading partner (2% of its trade), and Hungary was South Korea’s 31st (0.5%).

South Korea in Hungary’s trade
2.2%
South Korea’s rank among Hungary’s partners
14th
Hungary in South Korea’s trade
0.5%
Hungary’s rank among South Korea’s partners
31st

Compare with

Other partners of Hungary

Other partners of South Korea

Sources and methodology

Sources and licenses

Methodology

Goods trade from CEPII BACI (BACI_HS92_V202601), in current US dollars, with exports and imports reconciled between countries. The transport mode is our own estimate based on value per kilo and geography. The sea route comes from our own network derived from World Bank shipping density (not from nautical charts), between one main reference port per country (World Port Index); days are the distance at 14 and 18 knots, without port calls or waiting. Data up to 2024.