The Economy of Hungary
Hungary at a Glance
Hungary is a small, open, export-oriented economy in Central Europe, tied to German car makers and known for its unorthodox economic policies.
Hungary has about 9.6 million people and joined the EU in 2004. Exports are around 80 per cent of GDP, making it very open to trade.
Structure
Manufacturing of cars and electronics, plus services and agriculture.
Currency
It uses its own currency, the forint.
Politics
Viktor Orbán’s Fidesz party has governed since 2010, with distinctive economic policies.
A car hub
Audi, Mercedes and BMW run large plants in Hungary.
Assuming Hungary's economy is closed
It is one of the EU's most open.
Key takeaways
- Hungary is small and open.
- It is an EU member.
- It keeps the forint.
- Fidesz has led since 2010.
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