Germany remains Hungaryʼs main trading partner

History

Germany continued to account for more than one-quarter of Hungaryʼs exports as well as imports last year, in euro terms, fresh data from the Central Statistical Office (KSH) showa. Imports from China were two times higher than exports.

Deliveries to Germany made up 27.3% of Hungaryʼs total exports last year. Deliveries from Germany accounted for 26.5% of Hungaryʼs overall imports, KSH reported, as cited by national news agency MTI.

Among other big trading partners in Western Europe, Italy accounted for 5.1% of Hungarian exports last year, Austria for 4.8% and France for 4.4%. Hungaryʼs Visegrád Group allies, the Czech Republic, Poland and Slovakia, also made up a sizable chunk of the countryʼs trade, accounting for 13.1% of its exports and 15.9% of imports.

Romania accounted for 5.2% of Hungaryʼs exports and for 2.9% of imports. Hungaryʼs biggest deficit with a trading partner, EUR 2.344 billion, was with China. The Asian country accounted for 5.1% of Hungaryʼs imports and just 2.4% of its exports.

ADVERTISEMENT

European e-commerce soars during pandemic - study Analysis

European e-commerce soars during pandemic - study

Lawmakers approve 2022 budget Parliament

Lawmakers approve 2022 budget

Duncan Graham reelected as BCCH president Appointments

Duncan Graham reelected as BCCH president

Budapest launches revamped coupon card for visitors City

Budapest launches revamped coupon card for visitors

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.