MNB: SME productivity up 30% since 2010

MNB

Image by Pixabay

As a result of the rapid development of small- and medium-sized companies in the last two years, the lag compared to large firms has eased, but the difference in terms of both productivity and wages is still significant, according to a Competitiveness Report published by the National Bank of Hungary (MNB) on its website.

The real productivity of Hungarian SMEs has increased by about 30% since 2010. Since then, with the exception of 2013, labor productivity growth among SMEs has exceeded the average for both the EU and its Visegrád Four (V4) peers.

In 2017 and 2018, Hungarian SMEs achieved one of the fastest growth rates. About half of the productivity growth in 2018 was accounted for by the construction industry, which was able to grow to such an extent as a result of largely cyclical factors and government measures.

Within the SME segment, productivity gains were greatest for micro-enterprises, followed by small- and finally medium-sized enterprises.

Hungary Account Deficit at EUR 561 mln in Q4 Debt

Hungary Account Deficit at EUR 561 mln in Q4

Moldovan Pensions to be Increased as of April 1 World

Moldovan Pensions to be Increased as of April 1

Schoenherr Names Miklós Klenanc as Head of Local M&A Practic... Appointments

Schoenherr Names Miklós Klenanc as Head of Local M&A Practic...

Hungarian Wine Marketing Agency to Host Summit Drinks

Hungarian Wine Marketing Agency to Host Summit

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.