As a Central European nation, Hungary heavily relies on imports to meet its domestic needs and support its key industries. The major imports of Hungary include machinery and mechanical appliances, vehicles and automotive parts, electrical machinery and equipment, mineral fuels and oils, plastics and plastic articles, pharmaceuticals, iron and steel, optical and medical instruments, organic chemicals, and articles of clothing and accessories. The closest trading partners for each category vary, with Germany, Austria, and China emerging as prominent trading partners across multiple sectors. Understanding these import trends and trading partnerships is essential for analyzing Hungary's economic landscape, identifying areas of collaboration, and formulating effective trade policies.
Machinery and Mechanical Appliances:
Imported machinery and mechanical appliances hold the top position in Hungary's imports by volume. With a total import value of approximately $17 billion, Hungary heavily relies on these imports to support its industries and infrastructure. The primary trading partners for machinery and mechanical appliances are Germany, Austria, and China.
Vehicles and Automotive Parts:
Imported vehicles and automotive parts play a significant role in Hungary's transportation sector. The import volume for this category is valued at $11 billion. The primary trading partners for vehicle and automotive parts imports are Germany, Poland, and the Czech Republic.
Electrical Machinery and Equipment:
Imported electrical machinery and equipment are essential for meeting Hungary's technological needs. The import volume for this category stands at $9 billion. The primary trading partners for electrical machinery and equipment are Germany, China, and Austria.
Mineral Fuels and Oils:
Mineral fuels and oils are crucial imports for Hungary's energy needs. The import volume for this category is valued at $8 billion. The primary trading partners for mineral fuels and oils are Russia, Romania, and Kazakhstan.
Plastics and Plastic Articles:
Hungary imports a significant amount of plastics and plastic articles for various industries. This category accounts for an import volume of $7 billion. The primary trading partners for plastics and plastic articles are Germany, Austria, and Italy.
Pharmaceuticals:
Pharmaceutical products are essential for Hungary's healthcare sector. The import volume for this category stands at $6 billion. The primary trading partners for pharmaceutical imports are Germany, Switzerland, and the United States.
Iron and Steel:
Imported iron and steel are vital for Hungary's construction and manufacturing industries. This category's import volume is valued at $5 billion. The primary trading partners for iron and steel imports are Germany, Austria, and Italy.
Optical and Medical Instruments:
Hungary imports a significant volume of optical and medical instruments for various applications. The import value for this category is approximately $4 billion. The primary trading partners for optical and medical instrument imports are Germany, the United States, and Switzerland.
Organic Chemicals:
Hungary imports organic chemicals for various industrial applications. The import volume for this category stands at $3 billion. The primary trading partners for organic chemical imports are Germany, Belgium, and China.
Articles of Clothing and Accessories:
Hungary imports a considerable volume of clothing and accessories to meet its domestic market demands. The import value for this category is approximately $2 billion. The primary trading partners for clothing and apparel imports are China, Germany, and Italy.
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