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Hungary

Welcome to the price transmission page for Hungary. This page enables you to look into the country and its crops more specifically to gain an understanding of the level of risk and also, to view its historic warning periods per commodity. Select a time range or a specific date to view the data in more detail.

Hungary

Historic Warnings per Commodity

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Background information

Hungary transformed successfully to a market economy with per capita income levels increasingly converging to the EU-28 average. Main industries are food processing, pharmaceuticals, motor vehicles, IT and electrical goods. Tourism is one of the main sectors in services. Overall, the country continues to attract high shares of FDI. Natural resources include bauxite, coal and natural gas. Public debt levels are high but global demand for yield during the Global Food Crisis 2010-11 helped to lower this level.

One-fifth of the landlocked country is covered with forests. Thanks to the fertile soil, approximately half of the total land area is used as arable land. Agriculture contributes to 4.4% of GDP and 7.1% of labor force. The main products are wheat, corn, sunflower seed, potatoes, sugar beets and livestock in form of pigs, cattle, and poultry. Hungary is a major net cereals exporter.

According to the HDI (2014), the country ranks in the category of high human development with a value of 0.828. Approximately 7% of the population is unemployed with an even higher share among people aged 15-24. Roughly 15% of the Hungarians are at risk of poverty. In terms of inequality, Hungary has one of the lowest income inequalities worldwide.