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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SOURCE: CIA - The World Factbook | |
Currency | Forint |
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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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