Worrisome macroeconomic imbalances
B3
SENSITIVE RISK for entreprise
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
Updated in January 2023.
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GDP | USD182bn (World ranking 55, World Bank 2021) |
Population | 9.7mn (World ranking 94, World Bank 2021) |
Form of state | Parliamentary Republic |
Head of government | Viktor ORBAN (Prime Minister) |
Next elections | 2026 (Legislative) |

- Generally stable parliamentary democracy
- EU membership
- Strong, competitive manufacturing base

- Deteriorated investment climate, as a consequence of unconventional economic policy measures since 2010
- At times, difficult relations with the IMF and the EU
- High public debt and large total external debt burden
- Exchange rate vulnerability
- Low level of FX reserves – import cover below three months
- Worrisome double deficit of the fiscal and current accounts
Trade structure by destination/origin
(% of total, 2021)
Exports | Rank | Imports |
---|---|---|
Germany
26.3%
![]() |
1 |
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Italy
5.6%
![]() |
2 |
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Romania
5.6%
![]() |
3 |
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Austria
4.4%
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4 |
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United States
4.1%
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5 |
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Trade structure by product
(% of total, 2021)
Exports | Rank | Imports |
---|---|---|
Road vehicles
15.7%
|
1 |
14.5%
Electrical machinery, apparatus and appliances, n.e.s.
|
Electrical machinery, apparatus and appliances, n.e.s.
14.3%
|
2 |
8.8%
Road vehicles
|
Telecommunication and sound recording apparatus
6.9%
|
3 |
5.7%
Office machines and automatic data processing machines
|
Power generating machinery and equipment
6.1%
|
4 |
5.2%
Other industrial machinery and parts
|
Medicinal and pharmaceutical products
5.4%
|
5 |
4.2%
Medicinal and pharmaceutical products
|
Collection Complexity
The Allianz Trade Collection Complexity Score provides a simple assessment of how easy it is to collect debt around the world. The 2022 edition covers 49 countries that represent nearly 90% of global GDP and 85% of global trade.
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