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Country Report Hungary

 

 

Summary of Country Report

Hungary - March 2012

 Map of Hungary


Looming uncertainty despite readiness to accept a second IMF bailout package

  • The economy is forecast to contract 0.8% in 2012, as a result of eurozone slowdown and ongoing domestic financing problems.
  • Budget deficit: EU funding is at stake.
  • Industries: Construction remains under severe pressure.
  • Insolvencies: Another increase in 2012, with construction, consumer durables, IT and retail suffering most.

Foreign Debt
(Total foreign debt, percentage of GDP)

Chart: Hungary - Foreign Debt

Source: HIS Global Insight, National Bank of Hungary

 

 

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report on Hungary

 
General Information

Capital: Budapest
Government type: Parliamentary Democracy
Currency: Forint (HUF)
Population: 9.9 million
Status: Upper middle income country
(GDP/capita: US$13,112 in 2011)
 
Main import sources (2010)

  • Germany: 26.1%
  • Russia: 7.7%
  • China: 6.8%
  • Austria: 5.9%
  • Netherlands: 4.4%

Main export markets (2010)

  • Germany: 25.5%
  • Italy: 5.5%
  • UK: 5.4%
  • Romania: 5.3%
  • Slovakia: 5.1%

 _________________
Date: March 2012

 

 

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