The Vehicles Export of Hungary: A Comprehensive Trade Overview

Vehicles are a category of machines that are basically designed for the mobility of persons and equipment from one place to another. It has facilitated communication across different regions. Vehicles are at present the topmost globally traded commodity because of the increasing use in personal transportation, public transport systems, and agriculture. The uneven global production rate, economic growth, and industrialization, accompanied by technological specialization, have maintained continuity in global trade. Hungary Import Data says, the country in Central Europe, bordered by Austria and Slovakia in the west and north direction, has solidified its position as a substantial holder and contributor towards the globally evolving vehicles trade market due to the high export integration and the growth in the production of electric vehicles.

The increased production of automotive components and proximity of the country to Germany and other largest automotive markets of the European Union have resulted in a total valuation of vehicle exports worth 36 billion US dollars in 2024. The trade agreements within the EU, reducing tariffs and the skilled technical workforce with automotive production, have benefited the overall trade rate. Subscribe to Import Globals, the leading Hungary import export trade provider, to stay updated with the latest information regarding the export of vehicles from the nation via the Hungary trade data.

GOVERNMENT INITIATIVES SUPPORTING THE VEHICLE EXPORT OF HUNGARY IN 2024

The automotive supplier development program has increased the competitiveness of the domestic suppliers of the country. It has promoted the capacity of local firms and has encouraged higher domestic value addition in vehicles. The investment incentives and subsidies for EV and automotive projects have reduced the investment risk and cost for worldwide investors. It has led to an increased vehicle production.

The HIPAA automotive R&D and investment support schemes have strengthened the country’s location for innovation-driven automotive production. It has even encouraged the R&D activities. The government-inserted domestic EV subsidy has expanded the infrastructure, while the long-term commitment to electrification has attracted export markets.

THE LEADING VARIANTS OF VEHICLES EXPORTED FROM THE NATION IN 2024

The skilled technical workforce in the automotive production sectors and the strong vocational training have influenced and facilitated the introduction of diversity in the global trade output. According to the Hungary Export Data, the topmost variants of vehicles exported from the nation in 2024 are,

Passenger cars — The annual valuation of Passenger cars exported from Hungary in 2024–12 billion US dollars
Automotive parts and accessories- The annual valuation of Automotive parts and accessories exported from Hungary in 2024–10 billion US dollars
Electric vehicle batteries- The annual valuation of Electric vehicle batteries exported from Hungary in 2024–8.7 billion US dollars
Goods transport vehicles (trucks and vans)- The annual valuation of Goods transport vehicles (trucks and vans) exported from Hungary in 2024–7.65 billion US dollars
Tractors and road tractors- The annual valuation of Tractors and road tractors exported from Hungary in 2024–6.42 billion US dollars
Special purpose motor vehicles- The annual valuation of special-purpose motor vehicles exported from Hungary in 2024–5.31 billion US dollars
Chassis fitted with engines- The annual valuation of Chassis fitted with engines exported from Hungary in 2024–4.21 billion US dollars
Vehicle bodies (including cabs)- The annual valuation of Vehicle bodies (including cabs) exported from Hungary in 2024–3.98 billion US dollars
Motorcycles and mopeds- The annual valuation of Motorcycles and mopeds exported from Hungary in 2024–2.75 billion US dollars
Trailers and semi-trailers- The annual valuation of Trailers and semi-trailers exported from Hungary in 2024–1.97 billion US dollars

TOP TRADE PARTNERS OF HUNGARY IN 2024

The integration of electronic vehicle technologies and the partnerships with universities and research institutions have promoted strengthened bilateral relationship with the nearby and foreign investing regions. As per the Hungary Customs Data, the topmost trade partners that have been shipping the vehicles exported from the nation in 2024 are,

Germany — The total valuation of vehicles exported from Hungary to Germany in 2024–19 billion US dollars