Hungary: Facts & Stats

ECONOMY

Industry:

Hungary is poor in the natural resources essential for heavy industry and relies strongly on imported raw materials.

Industry has expanded rapidly since 1948 and provides the bulk of exports. Industrial plants were nationalized by 1949, and the socialized sector accounted for about 98.5% of gross production in 1985.

Hungary has concentrated on developing steel, machine tools, buses, diesel engines and locomotives, television sets, radios, electric light bulbs and fluorescent lamps, telecommunications equipment, refrigerators, washing machines, medical apparatus and other precision engineering equipment, pharmaceuticals, and petrochemical products. Chemicals grew to become the leading industry in the early 1990s.

In 1997, industrial output increased in the manufacture of road vehicles, consumer electronics, insulated cables, office equipment and computers, steel products, aluminum metallurgy, household chemical products and cosmetics, rubber and plastic products, and paper and pulp production.

In 1992, Suzuki and Opel began producing automobiles in Hungary. Suzuki increased annual output at the Magyar Suzuki Corporation. Since 1990, Hungary has developed industrial strength in the automotive field as well as an expanding automotive sourcing industry in plastics and electronics. In 2001, Hungary produced 144,313 automobiles, a 5% increase over 2000. In 2000, it produced 1,621 heavy trucks, a 24% increase over 1999.

In 2000, close to 14% of total Hungarian industrial output was accounted for by the vehicle manufacturing industry. The growth in manufacturing output and productivity in the early 2000s has been supported by a considerable amount of foreign investment. Successive Hungarian governments have pursued privatization policies and policies to restructure industry, so that by 2002, 80% of the economy was privately owned.

High-tech equipment (computers, telecommunication equipment, and household appliances) showed the strongest industrial growth in 2001. Industries targeted for growth in 2003 were the automotive industry, the general industrial and machine tool industry, and the information technology industry. Housing construction was another growth sector in 2002.

Agriculture:

Agricultural production is important to Hungary's economy. In 1999 agriculture provided 5 percent of the GDP and 8 percent of employment. As a share of exports, agricultural and food products constituted 10.5 percent of Hungary's exports in 1998. Hungary has 93,000 square kilometers of cultivated land, covering 52 percent of Hungary's total area.

During the communist period about 90 percent of all farmland was organized into collective and state-owned farms. Following the transition to a free market economy in 1990, the new government began returning farms to private hands. The result is that currently about 90 percent of cultivated land in Hungary is privately owned. State subsidies for agriculture in Hungary tend to be comparatively low, an average of 5 to 7 times less per capita in Hungary than in the average European Union country.

Hungary's leading agricultural products are a combination of staple crops, famous specialty items such as wine and livestock products, and basic livestock. Hungary's most important crops include corn, wheat, sugar beets, barley, potatoes, and sunflower seeds. It also produces grapes and wine, including several famous wines such as those from the Tokaj region.

Other well-known specialty items include salami, goose liver, and paprika. Livestock production is also important in Hungary, including cattle, pigs, sheep, horses, and poultry. Important livestock products include milk, meat, butter, eggs, and wool. Finally, Hungary has some important freshwater fisheries, mostly located on the Danube and Tisza rivers, and on Lake Balaton. The commercial fish catch consists mainly of carp, pike, perch, sheatfish, and shad.

Research & Development:

In order to speed up economic growth in Hungary, the government is committed to the development and operation of a new, efficient innovation system. State government established the Science and Technology Policy Council (TTPK). The mission of TTPK is the evaluation of conceptual issues related to scientific research, technology development, innovation and the preparation of decisions for the Government concerning science and technology policy.

To create a predictable environment for the exploitation of R&D findings, the Research and Technology Innovation Fund was established in 2003 providing stable and reliable financing for competitiveness-oriented research, development and innovation activities. Apart from the micro- and small enterprises, every enterprise is obliged to pay at least 0.3% of its turnover into the Fund. The Hungarian government contributes to the Fund with an equivalent amount.

Hungarian R&D organizations have an increasing opportunity to participate in multilateral and bilateral scientific programmes. Over the past decades a large number of international science and technology co-operation links has been developed. Hungary has become full member in most European and Euro-Atlantic research organizations and programmes (e.g. EU R&D Framework Programme, COST, EUREKA, CERN, EMBL, ESA/PRODEX and the NATO Science Programme).

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