Hungary - Foreign trade



Hungary imports raw materials and semi-finished products and exports finished products. Within that general framework, however, the structure, volume, and direction of Hungarian foreign trade have changed perceptibly in recent years. The total trade volume expanded from HUF 18.344 million (foreign exchange) in 1959 to HUF 2.657 billion in 1994. In 2000, exports were estimated at $28.1 billion (up from $12.9 billion in 1995), while imports were estimated to be $32.1 billion (up from $15.4 billion in 1995).

The majority of Hungary's export market is concentrated in the manufacturing industry, including electrical machinery, motor vehicle parts, polymers, petroleum refining, telecommunications equipment, and aluminum. Manufactured goods make up 82% of all exports. Other important exports include apparel (4.4%), polymers (2.2%), and meat (2.1%).

In 2000 Hungary's imports were distributed among the following categories:

Hungary

Consumer goods 12.4%
Food 2.0%
Fuels 4.8%
Industrial supplies 28.6%
Machinery 35.1%
Transportation 12.9%
Other 4.2%

Principal trading partners in 2000 (in millions of US dollars) were as follows:

Hungary

COUNTRY EXPORTS IMPORTS BALANCE
Germany 10,471 8,213 2,258
Austria 2,443 2,366 77
Italy 1,654 2,407 -753
Netherlands 1,522 708 814
United States 1,475 1,224 251
France 1,470 1,401 69
United Kingdom 1,156 1,017 139
Belgium 878 721 157
Russian Federation 455 2,589 -2,134
Japan 159 1,701 -1,542
Also read article about Hungary from Wikipedia

User Contributions:

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Kyra
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May 3, 2013 @ 7:07 am
yay this helps my geography project finally, thank you!

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