Since the establishment of diplomatic relations between Nepal and Hungary in 1961, the trade relations between two countries have been strong and developing. With the accession of Hungary to the European Union in 2004, the prospects of cooperative relations between Nepal and the EU is expected to receive added impetus through economic and trade relations with Hungary.
Hungary imports handicrafts, paper, readymade garments and commodities from Nepal. While Nepal has been importing medicaments, office articles, electronics, and sports items, among others.
Nepal-Hungary trade data
|Year||Exports to Hungary||Imports from Hungary||Balance|
|2009||US$ 325,000||US$ 200,000||US$ 125,000|
|2010||US$ 210,000||US$ 355,000||– US$ 145,000|
|2011||US$ 555,000||US$ 620,000||– US$ 65,000|
|2012||US$ 210,000||US$ 950,000||– US$ 740,000|
(Source: TECP, Nepal)