International Trade in Hungary

International Trade in Hungary

Hit by the financial crisis head-on, the country was saved from banckruptcy by the International Monetary Fund. After experiencing a deep recession in 2009, the country returned to a timid growth in 2010, estimated at 0.6% of the GDP and driven essentially by exports. The newly-formed... Read more

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Market Analyses About Hungary (53)

Import and Export Services in Hungary (373)

  • BALAZS&HOLLO Ugyvedi Iroda

    BALAZS&HOLLO Ugyvedi Iroda

    Corporate Law, Hungary

    BALÁZS & HOLLÓ Law Firm was established in 1995 and counts seven lawyers  at the moment. Our clients are medium...
  • MARS EXIM PVT LTD

    MARS EXIM PVT LTD

    Direct Marketing, Hungary

    Our company is Govt. of India Recognized Export House .Our main line of products are Light engineering goods which includes : •...

Business Tips About Hungary (17)

Agents and Distributors in Hungary (21)

  • MARKETiN CEE s.r.o.

    MARKETiN CEE s.r.o.

    Business Intelligence, Hungary

    MARKETiN CEE is a strategy and marketing consultancy providing market research, business intelligence and local support for business...
  • Vintaris Trade Ltd.

    Vintaris Trade Ltd.

    Food/Agricultural Sales and Distribution, Hungary

    Vintaris Trade Limited was established off the private sector with the goal to supply the European markets from our Eastern European...

Overview About International Trade in Hungary

Main Industry Sectors

The agricultural sector, which was predominant in the country's economy for many years, now only represents slightly less than 4.5% of the GDP and employs about 4% of the active population. The main crops are cereals, fruits, vegetables and wine.

The industrial sector contributes to one-third of the country's GDP and is very open to foreign investors. Automobile and electronics sectors are the two main sectors given that they account for 30% of the country's exports and generate 15% of the GDP.

The services sector contributes nearly to two-thirds of the GDP.The global financial crisis had detrimantal effects on Hungarian industries that work on the external market but also on the national market where demand was reduced.

 

Economic Overview

Hit by the financial crisis head-on, the country was saved from banckruptcy by the International Monetary Fund. After experiencing a deep recession in 2009, the country returned to a timid growth in 2010, estimated at 0.6% of the GDP and driven essentially by exports.

The newly-formed Orban government announced a 29-point stimulus plan, which aimed to stimulate the economy and reduce the budget deficit, especially through taxing

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