Budapest

Trade

Estonian-Hungarian trade in goods amounted to €162.4 million in 2023.

Exports to Hungary amounted to €72.1 million in 2023, which made Estonia the 32th largest export partner. A year earlier, exports amounted to € 62,4 million (annual increase of +15.4%). The main export items in 2023 were electrical equipment (21.7%), animal and vegetable fats and oils (10,5%), various base metal products (9,5%) and wood products (9,5%).

In 2023, Estonia imported goods worth €90.3 million from Hungary, which made Hungary its 26th import partner. A year earlier, imports totalled €88.9 million (+0,8% annual growth). The most imported goods were electrical equipment (23,5%), mechanical machines (20,6%) and plastic products (12,6%).

Estonian-Hungarian trade in 2020–2023:

(source: Statistics Estonia)

Foreign direct investment

Hungary’s foreign direct investments in Estonia (as of 31.12.2022) amounts to EUR 43 million, which represents 0.1% of total foreign investment in Estonia. The largest investments were in manufacturing with EUR 18 million and in finance and insurance with EUR 15 million.
Estonian foreign direct investments in Hungary amounts to EUR 7 million, which represents 0.1% of total FDI abroad. Investments are made in seven sectors.

Tourism

Hungarian tourists made 8 415 visits to Estonia in 2022, of which 6 332 were overnight stays. A year earlier, the number of visits was 5 646, an annual increase of +12.2%.
Estonians made 14 644 visits to Hungary in 2022, of which 13 369 were overnight stays. In the previous year, the number of visits to Hungary was 4 252 (+244.4% year-on-year).

E-residents

As of 1 April 2024, there were 1 232 Hungarian citizens who were e-residents, of whom 406 had registered their company in Estonia.