Mother Earth Travel > Country Index > Hungary > Map Economy History |
| Economy - overview: Hungary continues to demonstrate strong
economic growth and to work toward accession to the European Union. The
private sector accounts for over 80% of GDP. Foreign ownership of and
investment in Hungarian firms is widespread, with cumulative foreign
direct investment totaling $23 billion by 2000. Hungarian sovereign debt
was upgraded in 2000 to the second-highest rating among all the Central
European transition economies. Inflation - a top economic concern in 2000
- is still high at almost 10%, pushed upward by higher world oil and gas
and domestic food prices. Economic reform measures such as health care
reform, tax reform, and local government financing have not yet been
addressed by the ORBAN government. GDP: purchasing power parity - $113.9 billion (2000 est.) GDP - real growth rate: 4% (1999 est.), 5.5% (2000 est.) GDP - per capita: purchasing power parity - $11,200 (2000 est.) GDP - composition by sector: agriculture: 5% industry: 35% services: 60% (2000 est.) Population below poverty line: 25.3% (1993 est.) Household income or consumption by percentage share: lowest 10%: 3.9% highest 10%: 24.8% (1996) Inflation rate (consumer prices): 10% (1999 est.) Labor force: 4.2 million (1997) Labor force - by occupation: services 65%, industry 27%, agriculture 8% (1996) Unemployment rate: 10% (1999 est.), 9.4% (2000 est.) Budget: revenues: $13 billion expenditures: $14.4 billion (2000 est.) Industries: mining, metallurgy, construction materials, processed foods, textiles, chemicals (especially pharmaceuticals), motor vehicles Industrial production growth rate: 6% (1999 est.), 18% (2000 est.) Electricity - production: 36.75 billion kWh (1999) Electricity - production by source: fossil fuel: 61% hydro: 1% nuclear: 38% other: 0% (1999 est.) Electricity - consumption: 35.234 billion kWh (1999) Electricity - exports: 2.35 billion kWh (1999) Electricity - imports: 3.406 billion kWh (1999) Agriculture - products: wheat, corn, sunflower seed, potatoes, sugar beets; pigs, cattle, poultry, dairy products Exports: $22.6 billion (f.o.b., 1999), $25.2 billion (f.o.b., 2000) Exports - commodities: machinery and equipment 59.5%, other manufactures 29.4%, food products 6.9%, raw materials 2.4%, fuels and electricity 1.8% (2000) Exports - partners: Germany 37%, Austria 9%, Italy 6%, Netherlands 5% (2000) Imports: $25.1 billion (f.o.b., 1999), $27.6 billion (f.o.b., 2000) Imports - commodities: machinery and equipment 51.1%, other manufactures 35.9%, fuels and electricity 8.1%, food products 2.8%, raw materials 2.1% (2000) Imports - partners: Germany 25%, Russia 8%, Austria 7%, Italy 7% (2000) Debt - external: $27 billion (1999), $29.6 billion (2000) Economic aid - recipient: $122.7 million (1995) Currency: forint (HUF) SOURCE: The World Factbook |
Mother Earth Travel > Country Index > Hungary > Map Economy History