Only one in five SMEs involved in exports - survey



Only 19% of Hungarian small- and medium-sized enterprises (SMEs) export their products, according to a survey published yesterday, commissioned by Budapest Bank and carried out by market researcher GfK, according to state news wire MTI.

There are few newcomers among exporters: the survey found that exporting SMEs have been selling their products abroad for an average of 14 years, with two-thirds having already entered foreign markets more than a decade ago.

MTI notes that there is little sign of the group of exporters growing as only 4% of SMEs in the survey were open to the idea, while 77% said they would stick to the domestic market.

Around 57% of companies said their products are not suitable for export, while 27% said their company is too small to get involved.

Most SMEs involved in exports do so to neighboring or nearby countries including Austria, Romania, Slovakia and Germany. Just 10% of exporters sell their products outside of the European Union, according to the survey.

Among larger companies with more than HUF 700 million annual revenues, the proportion of exporters is higher than the average 19%, standing at 42%. Among companies with annual revenues below HUF 200 mln, on the other hand, the proportion is just 17%.

For SMEs with higher revenues, exports accounted for 44% of sales, above the 26% average share among all exporting companies, the survey found.

The telephone-based, computer-assisted survey was conducted in May-June 2017, involving 500 Hungarian-owned companies with annual revenues not exceeding HUF 10 billion.


Hungarians Want to Live to 96 Analysis

Hungarians Want to Live to 96

Parl't approves 2023 budget Parliament

Parl't approves 2023 budget

Wizz Air Malta Names Managing Director Appointments

Wizz Air Malta Names Managing Director

Muni Council Organizing Meeting to Improve Air Quality City

Muni Council Organizing Meeting to Improve Air Quality


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.