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The withdrawal of the United Kingdom from the European Union (i.e. Brexit) raises numerous trade and economic questions that affect all the member states. The United Kingdom is not a significant trade partner of Hungary; however, the Hungarian foreign trade is strongly bounded to Germany whose main trade partner is the United Kingdom. This study estimates the direct and indirect effects of Brexit (the shock's spillover from the German economy) on Hungarian foreign trade, using a VECM (vector error correction model) with several macroeconomic and foreign trade variables. The results suggest that the indirect effect will be greater: the Brexit-induced changes in the performance of the German economy (in particular the dominant automotive industry) may have a major impact on the Hungarian export activity. Still, the future trade relationship between the United Kingdom and the European Union is uncertain, so the scale of the effects is unpredictable. [ABSTRACT FROM AUTHOR]