Hungary’s largest trading partners include Germany, Russia, UK and France. Trade relations with Japan have been growing as Hungary sought Japanese capital and technology and hoped to gain a share of the Japanese market as that country opened its doors to foreign trade. Trade with China has also been increasing with the share of exports from China increasing to over 8% of total exports into Hungary. The share of UK exports to Hungary is expected to decline as the rest of Asia continues to increase its prominence within Hungary.
Opportunities for UK businesses
With a population of just over 10 million, Hungary is a strong location for foreign direct investment, and home to a strong domestic corporate sector. With an extensive road and railway network and skilled workforce the country is an ideal place for British companies to set up a branch serving as a gateway to the East. UK businesses can seek opportunity in the following sectors: electronics, engineering, software and life sciences. Opportunities exist also in tourism, transport, retail, food, environment and construction.
Visit Export Britain for more information and to find support in this market.