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Hungary

Hungary has made the transition from a centrally planned to a market economy, with a per capita income nearly two-thirds that of the EU-25 average. The private sector accounts for more than 80% of GDP. Foreign ownership of and investment in Hungarian firms is widespread, with cumulative foreign direct investment totaling more than $200 billion since 1989. The government's austerity measures, imposed since late 2006, have reduced the budget deficit from over 9% of GDP in 2006 to 3.3% in 2008. Hungary's impending inability to service its short-term debt - brought on by the global financial crisis in late 2008 - led...  More..

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Economy of Hungary
SOURCE: CIA - The World Factbook
Currency Forint
Fiscal Year 01 January - 31 December
GDP (PPP) $184.9 billion (2009 est.)
GDP (per capita) $18,600 (2009 est.)
Exports $83.34 billion (2009 est.)
Imports $76.89 billion (2009 est.)
Main Industries Mining, Metallurgy, Construction Materials, Processed Foods, Textiles, Chemicals (Especially Pharmaceuticals), Motor Vehicles
Exports - Commodities Machinery and Equipment 61.1%, Other Manufactures 28.7%, Food Products 6.5%, Raw Materials 2%, Fuels and Electricity 1.6% (2009 Est.)
Imports - Commodities Machinery and Equipment 49.6%, Other Manufactures 32.6%, Fuels and Electricity 10.7%, Food Products 5.6%, Raw Materials 1.7%
Exports Partners Germany 25.4%, Italy 5.2%, Romania 5.1%, Austria 4.7%, Taiwan 4.5%, Slovakia 4.5%, France 4.5%, UK 4.4% (2008)
Imports Partners Germany 24.6%, Russia 8.7%, China 7.2%, Austria 6%, Taiwan 4.9%, Netherlands 4.4%, France 4.2%, Italy 4.1% (2008)

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