The News
Vietnam is the leading exporter in Southeast Asia to Hungary
With a turnover of over 1 billion USD in 2020, Vietnam has risen to the top of Southeast Asian countries in exporting to Hungary. In 2021, Vietnam still maintains this position.
According to data from the Hungarian Statistical Office, Vietnam's export turnover to Hungary in 2020 reached US$1,008 billion, up 86.4% over the same period in 2019. Meanwhile, Malaysia's export turnover to Hungary reached US$1.008 billion. 872.8 million USD, Thailand reached 516.9 million USD, Singapore reached 363 million USD, the Philippines reached 136 million USD, Indonesia reached 115.3 million USD, the remaining countries achieved very low turnover.
Particularly in the first 10 months of 2021, compared to the same period last year, Vietnam's exports to Hungary reached $842.7 million, up 5%; Malaysia reached 586.7 million USD, down 12.2%; Singapore reached 494.4 million USD, up 56.5%; Thailand reached 426.6 million USD, up 10.1%; Philippines reached 141.7 million USD, up 28.2%; Indonesia reached 119.5 million USD, up 26.2%...
The main Vietnamese commodities exported to Hungary are electronic components, accounting for the highest export turnover and at the same time the main factor promoting Vietnam's exports to Hungary in recent years. Hungary's statistics show that Vietnam's electronic components group exported to Hungary in 2020 reached 747 million USD, accounting for 74.1% of Hungary's total import turnover from Vietnam. Particularly in the first 10 months of 2021, it reached 574.8 million USD, accounting for 77% of Hungary's total import turnover from Vietnam.
Thus, in Southeast Asia, Vietnam is the first country to reach the threshold of 1 billion USD in export turnover to Hungary, and has been leading since 2020 until now.