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THE HUNGARIAN MARKET
Hungary in figures
• Population (2011): 9 938 000
• EU-membership: since 2004
• Currency: HUF (forint)
• GDP growth (Q4 2014): +3.4%
• Export value growth (2013/2014): +7.1%
• Industrial production growth (2013/2014): +7.6%
• Unemployment rate (2014): 7.8%
• Inflation rate (2014): 3.3%
Source: HIPA database
Interesting sectors in focus
• Automotive sector
• Electronics sector
• Food sector
• IT Services
• Biotechnology and Pharmaceutical sector
• Medical technology
• Shared service centers
• Logistics
Automotive sector
• The fastest growing sector of the Hungarianeconomy
• Central location - at the cross roads of4 main European transportation corridors
• Access to a talented, creative, flexible andqualified labor pool - competitive laborcost/value ratio in the CEE region
• Excellent local supplier network
• Tradition of innovation - successfulcooperation between universities and theproducers in R&D
Established car manufacturers:
Source: HIPA database
Electronic sector
• Hungary is the largest electronics producer in the CEE region -25% of the regional output
• The second largest industrial sector in Hungary - 22% of total manufacturing production for total value of 26 billion USD
Source: HIPA database
Source: HIPA database
Source: HIPA database
Food industry
• The 2nd largest employer andthe 3rd largest producer of theprocessing industry inHungary
• Hungary is the only netexporter of agricultural andfood products in the region -5.31% of the country’sexports
• Strong market - per capitaconsumption levels are amongthe highest in the region
ICT: a booming sector in Hungary
• 10-12% of the HungarianGDP comes from the ICTsector
• 18% of total Hungarian exportis presented by software andICT services
• Education system offershighly skilled ICT specialists
• Outstanding cooperationbetween educationalinstitutions and companies
• More than 10 Science Parks
Biotechnology and Pharmaceuticalsectors
• The highest number ofbiotechnology companies inthe region
• 85 biotechnology companiesof various sizes focusing theiractivities on biotech R&D ormanufacturing
• Strong presence of largepharmaceutical companies
• 5th largest drug producer inEurope
Shared service sector
• Positive feedback from companiespresent in the country
• Hungary had the highest number ofShared Service Investments inEurope between 2002 and 2006
• SSCs throughout the country:Debrecen, Miskolc, Pecs,Szekesfehervar, etc.
Thank you for the attention
Giorgio Dovigi General Secretary
Italian-Slovak Chamber of Commerce Michalská 7, 811 01 Bratislava
Tel: +421 2 54131290
www.husk-cbc.eu