Modest growth and gradual unwinding of imbalances

B2

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 July 2024.

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GDP USD178.8bn (World ranking 58, World Bank 2022)
Population 9.7mn (World ranking 94, World Bank 2022)
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
  • Exchange rate vulnerability
  • Weak public finances, with a high public debt burden
  • Large total external debt burden 
  • Moderate level of FX reserves

Trade structure by destination/origin

(% of total, 2022)

Exports Rank Imports
Germany 24.3%
1
21.2% Germany
Italy 5.6%
2
7.2% Austria
Romania 5.6%
3
6.8% China
Slovakia 4.7%
4
6.7% Slovakia
Austria 4.2%
5
6.1% Russian Federation

Trade structure by product

(% of total, 2022)

Exports Rank Imports
Road vehicles 15.1%
1
11.4% Electrical machinery, apparatus and appliances, n.e.s.
Electrical machinery, apparatus and appliances, n.e.s. 14.8%
2
7.8% Road vehicles
Telecommunication and sound recording apparatus 6.7%
3
6.2% Gas, natural and manufactured
Power generating machinery and equipment 6.2%
4
5.5% Telecommunication and sound recording apparatus
Medicinal and pharmaceutical products 4.8%
5
4.8% Electric current
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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