Page 100 - Azerbaijan State University of Economics

Yang Zhifang, Zhang Jieqian, Rudnák Ildikó: China-Hungary Trade Relations
Under The Belt And Road Initiative

Figure 1: Commodities exported between two countries in 2017

2017 China's export to Hungary 2017 Hungary's export to China
SITC0
3% SITC0
6% SITC1 5% SITC1
22%
SITC2 11% 4% SITC2
SITC3 SITC3
SITC4
SITC5 SITC4
SITC6 SITC5
SITC7 SITC6
SITC8 76%
SITC9 SITC7
69% SITC8
SITC9

Source: developed by the authors based on statistical data. (Hungarian Central
Statistical Office). (Ministry of Commerce of the People's Republic of China).

For case of analysis, I drew a pie chart based on the value of exports between China
and Hungary in 2017. According to Figure 4, it can be seen that the largest
proportion of goods traded between the two countries is SITC7, Machinery and
transport equipment. China's SITC 7 exports accounted for 69%, Hungary's exports
accounted for 76%. The smaller proportions are SITC1,2,3,4, which are dominated
by the primary industry. Only 1% of total exports in 2017. Neither China nor
Hungary has an export advantage in these commodity trade. Relatively speaking, the
types of export commodities between the two countries are on the single side. It can
be seen that most of the leading industries that account for the trade between China
and Hungary today are capital-intensive industries and technology-intensive
industries. Through the comparison of the data in the past ten years, it can be seen
that the growth rate is faster and the proportion is increasing obviously. The
situation of technology-intensive industries reflects the level of national science and
technology development, which provides advanced labor and a variety of new
materials for various sectors of the national economy. The development of
technology-intensive industries is conducive to giving full play to the role of
scientific and technological talents, to the application and popularization of the latest
scientific and technological achievements at mainland and abroad, to the
introduction of foreign advanced technology and the production of high-precision
products, and to the improvement of the economic benefits of enterprises. It can
promote the development of productive forces and high-precision products.

100