The economy is rebounding but structural weaknesses persist

B3

SENSITIVE RISK for entreprise

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

Updated in August 2021.

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GDP USD155.01bn (World ranking 55, World Bank 2020)
Population 9.75mn (World ranking 93, World Bank 2020)
Form of state Parliamentary Republic
Head of government Viktor ORBAN (Prime Minister)
Next elections 2022 (Presidential) and  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
  • Vulnerable banking sector

Trade structure by destination/origin

(% of total, 2020)

Exports Rank Imports
Germany 27.5%
1
24.8% Germany
Romania 5.5%
2
7.7% China
Italy 5.0%
3
5.8% Austria
Slovakia 4.8%
4
5.8% Poland
Austria 4.2%
5
5.1% Czech Republic

Trade structure by product

(% of total, 2020)

Exports Rank Imports
Road vehicles 16.4%
1
14.9% Electrical machinery, apparatus and appliances, n.e.s.
Electrical machinery, apparatus and appliances, n.e.s. 13.6%
2
9.4% Road vehicles
Telecommunication and sound recording apparatus 7.7%
3
6.2% Office machines and automatic data processing machines
Power generating machinery and equipment 6.8%
4
5.5% Medicinal and pharmaceutical products
Medicinal and pharmaceutical products 6.0%
5
5.5% Other industrial machinery and parts
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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