Country profile
Hungary
An EU manufacturing base for cars, EV batteries, electronics and pharmaceuticals, with large Asian investments.
Updated 11 November 2026. Sources at the bottom of the page.
- Capital
- Budapest
- Population
- 9.54 million (2026)
- Currency
- Hungarian forint (HUF)
- GDP, 2026
- US$266 billion
- Exports, 2025
- US$163.7 billion
- Exchange rate
- 1 USD = 328.1 HUF (11 Nov 2026)
Economy
IMF World Economic Outlook, October 2026. 2026 and 2027 are IMF projections.
1.9%Real GDP growth, 2026
2.1%Real GDP growth, 2027
1.9%Inflation, 2026
4.5%Unemployment, 2026
78.7% of GDPGovernment debt, 2026
-0.5% of GDPCurrent account, 2026
Compare Hungary with other countries →
Trade
Top export markets
Share of the country’s exports, 2025
- Germany (25%)
- Romania (5.6%)
- Poland (5%)
- Italy (4.9%)
- Slovakia (4.7%)
Main exports
Product groups, share of exports
- Electrical machinery and equipment, including batteries (24.1%)
- Machinery, including computers (17.7%)
- Vehicles and parts (15.6%)
- Pharmaceuticals (6.5%)
- Mineral fuels (4.2%)
Main trade agreements
- EU single market
- EU agreements including CETA (Canada), EUโJapan, EUโKorea, EUโMexico and EUโVietnam
- EUโUK Trade and Cooperation Agreement
Trade policy to watch
- EU Carbon Border Adjustment Mechanism (CBAM): in its definitive phase since 1 January 2026 for imports into the EU of iron and steel, aluminium, cement, fertilisers, electricity and hydrogen.
- EU trade policy: no tariffs inside the EU; trade with non-EU countries is set at EU level.
- EV and battery investment: Chinese and Korean battery makers and Chinese and German carmakers are building or running large plants in Hungary.
Energy
The Paks nuclear plant produces almost half of Hungary's electricity, and solar is growing fast. Hungary imports most of its gas and oil, still partly from Russia by pipeline.
What it means for your supply chain
- Hungary is becoming a major EU source of EV batteries, cathode materials and car parts.
- Many plants are Chinese-owned, so EUโChina trade tensions can affect them.
- Importers of steel, aluminium and other CBAM goods into Hungary need emissions data from their non-EU suppliers.
Hungary in the Supplier Hub
2 companies in the Supplier Hub are listed under Hungary.
Sources
- IMF, World Economic Outlook, October 2026: GDP, growth, inflation, unemployment, government debt, current account (2026 and 2027 are projections; updated automatically).
- IMF, World Economic Outlook database: population (2026 estimate).
- Trading Economics, based on UN Comtrade data: export markets and main exports; shares calculated from the listed values.
- European Central Bank, euro foreign exchange reference rates (cross rate via USD; updated daily).
- Energy Institute, Statistical Review of World Energy 2026: energy profile.
- European Commission, Carbon Border Adjustment Mechanism.
Figures are the latest published at the time of the update and may since have been revised. This page is for general information, not investment or legal advice.