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Economy
Economy - overview: Hungary continues to demonstrate strong economic growth and to work toward accession to the European Union. The private sector accounts for over 80% of GDP. Foreign ownership of and investment in Hungarian firms is widespread, with cumulative foreign direct investment totaling $23 billion by 2000. Hungarian sovereign debt was upgraded in 2000 to the second-highest rating among all the Central European transition economies. Inflation - a top economic concern in 2000 - is still high at almost 10%, pushed upward by higher world oil and gas and domestic food prices. Economic reform measures such as health care reform, tax reform, and local government financing have not yet been addressed by the ORBAN government.
GDP: purchasing power parity - $113.9 billion (2000 est.)
GDP - real growth rate: 5.5% (2000 est.)
GDP - per capita: purchasing power parity - $11,200 (2000 est.)
GDP - composition by sector: agriculture: 5%
Industry: 35%
Services: 60% (2000 est.)
Population below poverty line: 8.6% (1993 est.)
Household income or consumption by percentage share: lowest 10%: 3.9%
Highest: 24.8% (1996)
Inflation rate (consumer prices): 9.8% (1999 est.)
Labor force: 4.2 million (1997)
Labor force - by occupation: services 65%, industry 27%, agriculture 8% (1996)
Unemployment rate: 9.4% (2000 est.)
Budget: revenues: $13 billion
Expenditures: $14.4 billion, including capital expenditures of $NA (2000 est.)
Industries: mining, metallurgy, construction materials, processed foods, textiles, chemicals (especially pharmaceuticals), motor vehicles
Industrial production growth rate: 18% (2000 est.)
Electricity - production: 36.75 billion kWh (1999)
Electricity - production by source: fossil fuel: 61.09%
Hydro: 0.51%
Nuclear: 38.4%
Other: 0% (1999)
Electricity - consumption: 35.234 billion kWh (1999)
Electricity - exports: 2.35 billion kWh (1999)
Electricity - imports: 3.406 billion kWh (1999)
Agriculture - products: wheat, corn, sunflower seed, potatoes, sugar beets; pigs, cattle, poultry, dairy products
Exports: $25.2 billion (f.o.b., 2000)
Exports - commodities: machinery and equipment 59.5%, other manufactures 29.4%, food products 6.9%, raw materials 2.4%, fuels and electricity 1.8% (2000)
Exports - partners: Germany 37%, Austria 9%, Italy 6%, Netherlands 5% (2000)
Imports: $27.6 billion (f.o.b., 2000)
Imports - commodities: machinery and equipment 51.1%, other manufactures 35.9%, fuels and electricity 8.1%, food products 2.8%, raw materials 2.1% (2000)
Imports - partners: Germany 25%, Russia 8%, Austria 7%, Italy 7% (2000)
Debt - external: $29.6 billion (2000)
Economic aid - recipient: $122.7 million (1995)
Currency: forint (HUF)
Currency code: HUF
Exchange rates: forints per US dollar - 282.240 (January 2001), 282.179 (2000), 237.146 (1999), 214.402 (1998), 186.789 (1997), 152.647 (1996)
Fiscal year: calendar year
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International organization participation:
ABEDA, Australia Group, BIS, CCC, CE, CEI, CERN, EAPC, EBRD, ECE, EU (applicant), FAO, G- 9, IAEA, IBRD, ICAO, ICC, ICFTU, ICRM, IDA, IEA, IFC, IFRCS, ILO, IMF, IMO, Inmarsat, Intelsat, Interpol, IOC, IOM, ISO, ITU, MINURSO, NAM (guest), NATO, NEA, NSG, OAS (observer), OECD, OPCW, OSCE, PCA, PFP, UN, UNCTAD, UNESCO, UNFICYP, UNHCR, UNIDO, UNIKOM, UNMIBH, UNMIK, UNMOGIP, UNOMIG, UNU, UPU, WCL, WEU (associate), WFTU, WHO, WIPO, WMO, WToO, WTrO, ZC
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Transportation
Railways: total: 7,606 km
Broad gauge: 36 km 1.524-m gauge
Standard gauge: 7,394 km 1.435-m gauge (2,270 km electrified; 1,236 km double track)
Narrow gauge: 176 km 0.760-m gauge (1998)
Note: Hungary and Austria jointly manage the cross-border standard-gauge railway connecting Gyor, Sopron, and Ebenfurt (Gysev railroad) a distance of about 101 km in Hungary and 65 km in Austria
Highways: total: 188,203 km
Paved: 81,680 km (including 448 km of expressways)
Unpaved: 106,523 km (1998 est.)
Waterways: 1,373 km (permanently navigable) (1997)
Pipelines: crude oil 1,204 km; natural gas 4,387 km (1991)
Ports and harbors: Budapest, Dunaujvaros
Merchant marine: total: 1 ship (1,000 GRT or over) totaling 1,199 GRT/1,050 DWT
Ships by type: cargo 1 (2000 est.)
Airports: 43 (2000 est.)
Airports - with paved runways: total: 16
Over 3,047 m: 2
2,438 to 3,047 m: 8
1,524 to 2,437 m: 4
914 to 1,523 m: 1
Under 914 m: 1 (2000 est.)
Airports - with unpaved runways: total: 27
2,438 to 3,047 m: 3
1,524 to 2,437 m: 4
914 to 1,523 m: 12
Under 914 m: 8 (2000 est.)
Heliports: 5 (2000 est.)
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| Region |
Type |
Price |
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| USA |
Calrose #1 |
$1100 |
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| USA |
Calrose #1 Paddy |
$ N/A |
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| Egypt |
101 #2 |
$ N/A |
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| EU Prices |
Baldo |
€1000 |
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