Indonesia Exported US$65.09 Million Worth of Machinery to Hungary in 2023
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Indonesia recorded exports to Hungary worth US$88.65 million as of December 2023. This figure shows a 2.86% decrease compared to the previous year's exports, which were recorded at US$91.25 million.
Indonesia's trade record with Hungary shows an upward trend in exports over the past 10 years. The lowest export value was US$58.32 million, while the highest reached US$92.73 million.
Of the 97 products (two-digit HS codes) exported to Hungary, 39 products were worth more than one billion dollars. Furthermore, according to Trademap data, there are 58 main Indonesian products exported to this country annually. In other words, these products are Indonesia's mainstay exports to Hungary. The rest are mostly products also widely exported to other countries.
The following is a list of the top five main products exported by Indonesia to Hungary. This list is arranged in descending order of transaction value.
- Electrical machinery, equipment, and parts
- Plastics
- Impregnated, coated, covered or laminated textile fabrics
- Rubber
- Paper and Paperboard
Falling under HS code 85, Electrical machinery, equipment, and parts is a product group categorized together with sound recording and reproducing apparatus, television receivers. Exports of this product to Hungary rank first. Indonesia exported US$65.09 million worth of these products to Hungary. Exports of Electrical machinery, equipment, and parts; sound recording and reproducing apparatus, television receivers increased compared to the previous period, which was recorded at US$63,147 thousand.
In second place, Indonesia's largest exports are Plastics. The export value from Hungary in 2023 was recorded at US$3.02 million. This figure is up compared to the previous period, which was recorded at US$1,999 thousand.
Exports of Impregnated, coated, covered or laminated textile fabrics to Hungary are currently the largest. Indonesia exported US$2.85 million worth of these products to Hungary. Other major export destinations for Impregnated, coated, covered or laminated textile fabrics include the United States, Vietnam, Germany, China, and Mexico.
Indonesia also recorded significant exports of Rubber to Hungary. The export value of this product in 2023 was US$2.79 million. This is lower than the previous period, which reached US$6,660 thousand. Indonesia exports this product to only one country. Rubber exports to Hungary are recorded as the largest. Other top five export destinations include the United States, Germany, China, Mexico, and France.
Falling under HS code 48, Paper and Paperboard is a product group categorized together with articles of pulp, paper or paperboard. Indonesia exported US$1.92 million worth of these products, up from US$1,046 thousand in the previous period. Besides Hungary, Indonesia also relies on exports of Paper and Paperboard to the United States, Germany, France, the United Kingdom, and Italy. In addition to these main countries, Indonesia is recorded to have exported this product to 4 other countries.
"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."
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