Trade Policy and Regulations in Hungary
Foreign Trade in Figures
The Hungarian economy is very open, trade representing roughly 160% of the GDP.
The trade balance is traditionally a deficit. However, as an effect of the global recession, the volume of trade has decreased and due to the fall in imports being quicker than the increase in exports, the trade balance became positive.
The European Union is by far Hungary's biggest economic partner (Germany and Russia in the lead), followed by China.
|Foreign Trade Indicators||2006||2007||2008||2009||2010|
|Imports of Goods (million USD)||78,262||95,565||108,940||77,761||88,125|
|Exports of Goods (million USD)||75,255||95,400||108,504||83,008||95,484|
|Imports of Services (million USD)||11,910||15,544||18,541||16,331||15,529|
|Exports of Services (million USD)||13,567||17,091||20,018||18,285||18,386|
|Imports of Goods and Services (Annual % Change)||15||13||5||-||-|
|Exports of Goods and Services (Annual % Change)||19||16||5||-||-|
|Trade Balance (million USD)||-2,572||277||-53||5,678||-|
|Current Account (million USD)||-8,119||-9,081||-10,808||441||-|
|Foreign Trade (in % of GDP)||155||159||162||-||-|
|Imports of Goods and Services (in % of GDP)||78||79||80||-||-|
|Exports of Goods and Services (in % of GDP)||77||80||81||-||-|
Source: WTO - World Trade Organization ; World Bank
Main Partner Countries
(% of Exports)
|Other partnersClose extended list||53.3%|
(% of Imports)
|Other partnersClose extended list||49.0%|
- Main International Economic Cooperation
- Member of
World Trade Organisation
- Assessment of Commercial Policy
The WTO pages dedicated to Hungary
Barriers to exchanges
- Average Customs Duty (Excluding Agricultural Products)
- Useful Resources
Hungarian Customs and Finance Guard
- National Organization of Intellectual Property
- Magyar Szabadalmi Hivatal (Hungarian Patent Office).
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Although the European Union is a customs union with a Community Customs Code and a harmonized tariff system for product classification, customs administration is a Member State activity.
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2012 Country Commercial Guide for U.S. Companies doing business in Hungary.
U.S. Commercial Service on 14 Mar 2012 related to Trade Policy and Regulations in Hungary
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