Hungary Export, Import and Trade

By: EconomyWatch   Date: 29 June 2010

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Hungary trade

A number of business establishments in Hungary have been experiencing good times in various markets as confirmed by news on Hungary export, import and trade. Egis, a major name in Hungary pharmaceutical scenario has reported a 68 percent profit in sales achieved in second quarter of 2009 fiscal.

Much of this has happened owing to persistent weaknesses in various currencies of Central European region. Fact that volume of Hungary export has been dropping in recent times does not seem to be a deterrent as far as profit making abilities of these business establishments are concerned.


Recent condition of Hungary export

Latest reports on Hungary export, import and trade have confirmed that there has been an increase of 11.4 percent in exports. However, when these exports are computed in terms of US dollars there is a loss of 16 percent.


Hungary import and export and Russia

Russia has normally been major export partners of Hungary along with Germany and Italy. Recent Hungary export, import and trade news has confirmed that business establishments of this country have done well in Russia. However, their performance has not been equally impressive in central Europe as well as other erstwhile members of Soviet Union.


Hungary export potential

A number of economists in Hungary have had to up their predictions regarding contraction of national economy in coming fiscal. Much of this is owing to fact that there has been a sharp decline in export potential of Hungary. This is especially true of significant export markets such as Germany.


A number of pharmaceutical companies in Hungary are also preparing to make losses as far as their major export markets are concerned. Companies such as Gedeon Richter Nyrt have said that they are expecting to incur losses in principal markets such as Russia and Ukraine.


Hungary import

Indian automobile establishment Maruti has said demand for diesel engines exported by it to Hungary has come down. In 2008 fiscal Maruti had sent 20,000 diesel engines to Hungary. Recently Hungary has revealed that its trade statistics for March 2009 have been far from impressive. However, it has served as a reliable ally of goods and services exported by India in this time of financial crisis.

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