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Hungary
Chambre de Commerce - Fiche d'information pays Dernière mise à jour: 13.07.2018

Vos conseillers à la Chambre de Commerce

  • Steven Koener
    +352423939379
  • Violaine Mathurin
    +352423939481
Contactez-nous: europe@cc.lu

Indicateurs clés

Région
93,028 km2
Population
9,850,845 (July 2017 est.)
Type de gouvernement
parliamentary democracy
Langues
Hungarian (official) 99.6%, English 16%, German 11.2%, Russian 1.6%, Romanian 1.3%, French 1.2%, other 4.2%
PIB
$283.6 billion (2017 est.)
Taux de croissance
3.2% (2017 est.)
IHD
43
Capitale
Budapest

 

Introduction

Hungary became a Christian kingdom in A.D. 1000 and for many centuries served as a bulwark against Ottoman Turkish expansion in Europe. The kingdom eventually became part of the polyglot Austro-Hungarian Empire, which collapsed during World War I. The country fell under communist rule following World War II. In 1956, a revolt and an announced withdrawal from the Warsaw Pact were met with a massive military intervention by Moscow. Under the leadership of Janos KADAR in 1968, Hungary began liberalizing its economy, introducing so-called "Goulash Communism." Hungary held its first multiparty elections in 1990 and initiated a free market economy. It joined NATO in 1999 and the EU five years later.

Source: The CIA World Factbook - Hungary

 

Indicateurs macroéconomiques

Economic growth is projected to remain strong but to slow somewhat in 2019 as capacity constraints bite. Real wage gains and employment increases will support private consumption, while investment will be stimulated by private firms and the disbursement of EU structural funds. Exports will benefit from robust external demand and new capacity expansion, although gains in market share will slow. Wage increases resulting from tighter labour market conditions will raise inflation, which is projected to exceed the central bank's 3% target in early 2019.

Fiscal and monetary policies are expansionary. In 2018, there have been tax reductions alongside widespread spending increases. Statutory minimum wages have also been raised sharply, with further increases scheduled. Prudent policies are needed to prevent overheating. Furthermore, with strong economic growth, a faster reduction of the budget deficit would allow the government to finance higher future age-related spending.

Source: OECD - Economic Forecast

IMF Statistics:

Subject descriptor20142015201620172018
Gross domestic product, constant prices
Percent change
3.6722.9392.0002.4502.400
Gross domestic product, current prices
U.S. dollars (Billions)
138.347120.636117.065117.993123.502
Gross domestic product per capita, current prices
U.S. dollars (Units)
14,006.95312,239.89411,902.79312,022.78712,610.905
Inflation, average consumer prices
Percent change
-0.222-0.0700.4001.9002.600
Volume of imports of goods and services
Percent change
8.5077.7536.8196.9496.849
Volume of exports of goods and services
Percent change
7.5748.4446.4006.3396.301
Unemployment rate
Percent of total labor force
7.7656.8486.0235.8205.617
Current account balance
U.S. dollars (Billions)
2.8245.2915.7205.4334.954
Current account balance
Percent of GDP
2.0414.3864.8864.6054.011
Colored cells are estimates

Source: IMF Statistics - Hungary

 

Le Luxembourg et le pays

Existing conventions and agreements

In order to promote international economic and financial relations in the interest of the Grand Duchy of Luxembourg, the Luxembourg government negotiates bilateral agreements for the avoidance of double taxation and prevent fiscal evasion with respect to Taxes on Income and on fortune with third countries.

  • Convention from 15.01.1990 (Memorial 1990, A No.45, p.648)
  • Effective as of 01.01.1990 (Memorial 1990, A No.45, p.648)
  • Amendment of the Convention from 10.03.2015 (Memorial 2016, A No.210, p.4838)
  • Effective as of 01.01.2018 (Memorial 2016, A No.210, p.4838)

Air Services agreement

  • Agreement from 03.11.1964 (Memorial 1969, A, p. 778)
  • Effective as of 12.3.1970 (Memorial 1970, A, p. 485)

Source: Administration des Contributions Directes

 

Plus d'informations

Foreign Trade

The Statec Foreign Trade statistics provide information on the trade of goods - by product and by country. This information is collected respectively through the INTRASTAT declaration and on the basis of customs documents.

You can see the statistics on the website of the Statec.

Contact points in Hungary

Embassy of the Grand Duchy of Luxembourg in Hungary

Ambassador with residence in Vienna: Mr Marc UNGEHEUER

Sternwartestrasse 81
A-1180 Vienne
Tel: (+43 1) 478 2142
Fax:(+43 1) 478 2144
Email: vienne.amb(at)mae.etat.lu
Website: http://vienne.mae.lu

 

Honorary Consuls

Honorary Consul with jurisdiction in the Republic of Hungary: 

Docteur István HORVÁTH
Szeréna út 60 / A
H-1025 Budapest
Tel: +36 1 325 55 78 / +36 1 325 55 79
Fax: +36 1 325 55 80
Email: luxhonorar(at)kiralyka.axelero.net 

Source: Ministry of Foreign Affairs of Luxembourg 

 

Economic and Commercial Attaché (AWEX) in charge of Hungary

Economic and Commercial AttachéMrs Edit RANKY

Wallonia Foreign Trade and Investment Agency (AWEX)
E.C.E. City Center
Bajcsy-Zsilinszky ùt 12. #608.
1051 Budapest
HONGRIE
Tel: (+36) 1 266 86 21
Fax: (+36) 1 266 86 22
E-mail: budapest(at)awex-wallonia.com

Source: AWEX

 

Country risk as defined by Office du Ducroire for Hungary

Ducroire is the only credit insurer covering open account deals in over 200 countries. A rating on a scale from 1 to 7 shows the intensity of the political risk. Category 1 comprises countries with the lowest political risk and category 7 countries with the highest. Macroeconomics experts also assess the repayment climate for all buyers in a country.

Link: Office du Ducroire - Hongrie

Other useful links