The year 2024 was balanced and successful for Hungary's investment promotion efforts, with partners arriving from 19 countries across three continents, record-breaking number of Hungarian projects, and a significant share of investments in the field of the highest added value activities, Government Commissioner and CEO of the Hungarian Investment Promotion Agency (HIPA), Mr. István Joó […]
The volume of industrial production lagged behind by 4.2% in November 2024, production, based on working-day adjusted data lessened by 2.9%, year-on-year, the Central Statistical Office reports. Production has been attenuated in the great majority of the manufacturing subsections, most of all in the manufacture of transport equipment. According to seasonally and working-day adjusted data, […]
Industrial producer prices were 7.9% higher on average in November 2024 than one year earlier. Domestic output prices were 3.2% and non-domestic output prices 10.2% higher than in November 2023. The price rise was primarily caused by the weakening of the Hungarian currency, the forint against the euro and the world market price of energy […]
The value of export lessened by 3.5%, while that of import surpassed by 2.3% in EUR terms the same period of the previous year’s values in November 2024. The balance of the external trade in goods deteriorated by EUR 716 million, the Central Statistical Office reports. Compared to the previous month, the level of trade […]
According to the empirical survey conducted by GKI Economic Research Co. with the support of the EU, the outlook for the business sector deteriorated further in December, but consumers became slightly more optimistic. GKI’s business climate index has been falling in small steps but essentially flat in the second half of this year, slipping to […]
The surplus of the external trade in goods was EUR 1.0 billion, compared to the previous month, the adjusted volume of export lessened by 1.3%, that of import by 1.4%, the Hungarian Central Statistical Office (KSH) reports. The volume of export lessened by 0.3% and that of import surpassed the same period of the previous […]
The volume of Hungarian export decreased by 3.5% and that of import by 0.3% compared to the same period of the previous year. The surplus was EUR 949 million, the balance deteriorated by EUR 470 million year-on-year. Compared to August, the adjusted volume of export increased by 0.9% and that of import by 0.8%, the […]
In the third quarter of 2024, Hungarian service exports calculated in EUR were 4.2% and their imports 1.9% higher than in the same period of the previous year. The surplus was EUR 3.5 billion, EUR 280 million more than in the third quarter of 2023, higher even than the record in the corresponding period of […]
At its meeting on 19 November 2024, the Monetary Council of the National Bank of Hungary (MNB) reviewed the latest economic and financial developments and decided on leaving unchanged the central bank interest rate at 6.50% with effect from November 20, 2024. According to a statement by the Monetary Council, the primary objective of the […]
There is a high degree of uncertainty in the target markets of the Hungarian economy, and the expected economic policy of the next US President also poses a number of risks for Germany and thus Hungary. Due to the weak economic situation, the German economy is not able to stimulate the Hungarian economy, said András […]
Compared to the previous month, the level of export of goods increased by 15%, and that import grew by 7.8% in Hungary's external trade balance in September 2024, the country's Central Statistical Office (KSH) reports. However, the value of export was 5.0% lower, that of import decreased by 4.0% in EUR terms in September 2024 […]
Domestic small and medium-sized enterprises (SMEs) are expecting rising profits, but are holding back, as their willingness to invest has declined, according to the third quarterly data of the K&H SME Confidence Index, which shows the expectations of domestic micro, small and medium-sized enterprises (SMEs) for the next 12 months. According to a statement sent […]
As expected, the Monetary Council of the National Bank of Hungary (MNB) left its policy rate unchanged at its meeting this Tuesday. In the explanatory statement, the central bank stresses the importance of caution in view of deteriorating external developments. The press statement released after the meeting points out that MNB’s primary objective is to […]
Hungary's external trade balance and its impact on the economy are regularly discussed by analysts, but it is mostly the trade balance in goods that is discussed. However, the other important component of the domestic external trade balance, the external trade balance in services, is also important to address in the shadow of the reindustrialization […]
Hungary's gold reserves have increased from 94.5 tons to a record 110 tons, taking into account long-term national and economic strategic goals, the National Bank of Hungary (MNB) told MTI on Monday. The increase in the gold reserve was justified by the fact that the precious metal has appreciated due to global economic, geopolitical and […]
