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Hungary
Chambre de Commerce - Fiche d'information pays Dernière mise à jour: 07.02.2017

Indicateurs clés

Région
93,028 km2
Population
9,897,541 (July 2015 est.)
Type de gouvernement
parliamentary democracy
Langues
Hungarian 93.6%, other or unspecified 6.4% (2001 census)
PIB
$258.4 billion (2015 est.)
Taux de croissance
2.9% (2015 est.)
IHD
44
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

Growth is projected to moderate in 2016 due to a temporary contraction in public investment as a new cycle of EU structural funds commences, but should pick up again in 2017. Private demand should remain solid and employment should continue to expand, supported in part by the still large public work schemes. The disappearance of economic slack and the one-off effects of lower energy prices will push up inflation during 2017.

The fiscal stance will be broadly neutral in 2016, but is set to become expansionary in 2017 even though economic slack will largely be eliminated. The public work schemes (which cost ½ per cent of GDP) should be gradually scaled down as employment opportunities in the private labour market expand. With rising inflation, the central bank may need to consider moving towards a more neutral policy stance by end-2017.

Productivity growth has been low since the global financial crisis. Broad structural reforms are needed to secure more competitive firms and an adequately skilled labour force. In particular, red tape should be cut and regulatory impact assessments should be better used to improve transparency, stability and formulation of regulatory policies. The effectiveness of labour market training programmes should be enhanced together with measures to improve vocational training, work-family balance and lifelong learning. A comprehensive SME strategy could increase economic dynamism and inclusiveness.

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

Non double taxation agreement 

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, p. 648)
  • Effective as of 21.04.1991 (Memorial 1991, A, p. 372)

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 Rome: Janine FINCK

90, Via di Sante Croce in Gerusalemme
I-00185 ROME

Tel: (+39) 06 77 20 11 77/78
Fax:(+39 -06) 77 20 10 55
Email: rome.amb(at)mae.etat.lu
Site Internet: http://rome.mae.lu 

Economic and Commercial Attaché (AWEX): 

Ms.Edit RANKY 

Bajcsy-Zsilinszky út 12. # 608.
1051 Budapest Hungary

Tel: +36 1 266 8621
Fax: +36 1 266 8622
E-mail: budapest(at)awex-wallonia.com 
www.awexbudapest.hu 

Honorary Consuls

Honorary Consul with jurisdiction in the Republic of Hungary: Dr.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: http://www.mae.lu/
Source: www.awex.be 

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

 

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