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Hungary Business

Hungary's business prospects are very much dependent on the state of the world's economy, particularly on the health of Germany and other major trade partners within the EU. Strategically located in the heart of Central Europe, Hungary's automobile, machinery, food processing, renewable energy, chemical and pharmaceutical industries, as well as its IT, telecommunications, and the overall service sector, all benefit from a proximity to major European markets. The nation's most significant natural resource is arable land. The most important crops are wheat, corn, sunflower, potato, sugar beet, canola and a wide variety of fruits. Amongst its well developed food processing industry, Hungary produces several recognized dessert wines and a traditional fruit brandy known as pálinka. Hungary lacks extensive domestic sources of energy and natural resources, therefore it is forced to import many raw materials in order to satisfy industrial demands. Another important sector is tourism. Hungary is a favorite destination for millions of international tourists annually. While historical Budapest remains the most visited city, other popular attractions include Lake Balaton (the largest freshwater lake in Central Europe), as well as the Hungary's world-famous health spas, where visitors can indulge in a variety of quality medical and beauty treatments.

Hungary flag
  • population (2011): 9,976,062
  • population growth rate: -0.17%
  • median age: 40.2 years
  • official language: Hungarian
  • area: 93,028 km² (35,918 miles²)
  • GDP (PPP) per capita (2010): $18,800
  • Doing Business 2017 rank: 41
  • one of world's largest paprika producers
  • favored local for car & auto parts producers
  • local currency - Hungarian forint
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Hungary Info


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