ECONOMIC INFORMATION

Population: 10.1m

Advertisement

 

Population growth: -0.38%

Population density (people per sq. km): 110

UN Human Development Index ranking: 38/177

Gross national income (current US$): $64.0bn (2003)

Gross national income per capita: $6,330

PPP Gross national income: $139.4bn

PPP Gross national income per capita: $13,780

GDP growth: 0.7% (2003)

GDP breakdown Agriculture: 4.3%, Industry: 31.2%, Services: 64.5%

Inflation (12-month average): 7.8 (2003)

Gross capital formation as % of GDP: 24.4%

Final consumption expenditure as % of GDP (growth): 77.9% (7.1%)

Exports of goods & services as % of GDP: 65.4%

Top 3 export markets: Germany, Austria, Italy

Local industries: Mining, metallurgy, construction materials, processed foods, textiles, chemicals (especially pharmaceuticals), motor vehicles

WEF Growth Competitiveness ranking * : 39/104

WEF Business Competitiveness ranking **: 42/103

WEF Quality of the Business Environment ranking: 38/103

Transparency International Corruption Perceptions ranking: 42/145

Languages : Hungarian (official)

 

 

1097.photo.jpg

 

 

FDI INFORMATION

 

Region: Eastern Europe

No. of projects (Jan-Sep 2004): 382

Market-share of projects in the region: 19.1%

Value of projects relative to GDP: 46.0%

Top 3 destination sectors: Food & drink, auto components, textiles

Top 3 business functions: Manufacturing, retail, business services

Top 3 source countries: Germany, US, Austria

Top 3 investors: Robert Bosch, General Electric, Samsung

 

 

IPA

 

Name: The Hungarian Investment and Trade Development Agency

Web address www.itd.hu

* World Economic Forum Growth Competitiveness Ranking assesses an economy’s ability to grow consistently

** World Economic Forum Business Competitiveness Ranking assesses the microeconomic factors that contribute to economic growth

*** The difficulty of hiring workers and the difficulty and expense of firing workers is reflected as an index where the higher the value the more rigid the regulations