Hungary exports to Asia add 1.5-2% to GDP

Pharma

Exports to Asian countries are adding 1.5-2% to Hungary's GDP every year, prime minister's commissioner for foreign trade and investment Zsolt Becsey said in Thursday's issue of daily Magyar Nemzet.

Becsey said growing exports to Asia were a big reason for Hungary's economic growth last year.

Hungary's exports to Asia rose 30.6% to €6.024 billion in 2011, data from the Central Statistics Office (KSH) show. Hungary's trade deficit with the region narrowed 39.3% to €4.579 billion during the period.

The KSH data show Hungary's exports to the EU-15 rose 17.3% to €43.757 billion in 2011, while exports to the EU-12 were up 17.5% at 17.063 billion.

ADVERTISEMENT

Purchasing Managers' Index rises Analysis

Purchasing Managers' Index rises

Lawmakers approve residency permit for digital nomads Parliament

Lawmakers approve residency permit for digital nomads

The strongest move - Morgan Stanley Hungary head and Chess F... Podcasts

The strongest move - Morgan Stanley Hungary head and Chess F...

New Jewish cultural hub opens in Budapest City

New Jewish cultural hub opens in Budapest

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.