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Hungary food industry expands for first time in years

Food

Hungary's food industry expanded for the first time in many years last year thanks to a rise in exports, Tamás Éder, who heads food industry association ÉFOSz, said on Wednesday.

Éder said the sector expanded about 2% last year as a more than 6% rise in exports offset a 3% decline in domestic sales.

ÉFOSz chief secretary put the sector's value last year at HUF 2,500 billion, including HUF 1,900 billion in domestic sales and HUF 500 billion-600 billion in export sales.

The sector's profit fell last year from HUF 50 billion in 2010.

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