The automotive segmentis a top industry of the nation even as it produces nearly 21% of its total exports.
Over 600 firms, hiring a combined total of 100,000 persons, are currently in the business, in the field. And four leading automotive Original Equipment Manufacturers, namely, Audi, Suzuki, Daimler, and Opel have manufacturing facilities in the nation.
The electronics business is yet another major industrial sector in the nation, even as it is responsible for 22% of the country’s whole manufacturing production. Hungary is – by far – the biggest electronics maker in the CEE region, and is behind 26% of the entire regional manufacture.
Close-to 112,000 persons are presently working in the segment.
In the field of Pharmaceuticals & Medical Technology also Hungary has a fairly good presence. Actually, its pharmaceutical business is a top and highly well-organized and flourishing division of the country’s economy.
Courtesy the most developed pharmaceutical &biotechnology segments in the entire Eastern & Central Europe, the nation proffers a perfect launch pad for the life science firms keen to grow in the area, or expand towards the states of the Balkan region, and also the more far-away Asian & Eastern European markets.
Even in the food industry, Hungary’s presence is rather remarkable. Despite the fact its share in the output of national industry has somewhat nose-dived, through the decade gone by, the business of food processing continues to be a key sub-division of the Hungarian economy.
The food industry’s export revenues are crucial to the nation’s general trade balance.
The country is the sole net exporter of agricultural & food goods in the entire CEE area. And, the business
produces 6% of the nation’s total exports.
The ICT segment–comprising telecommunications, IT services, IT outsourcing, and software and hardware manufacturing–is another vital cog, and one of the main businesses of the Hungarian economy.
The ICT segment is responsible for 10%,or one–tenth, of the whole Hungarian GDP even as it hires 100,000-pluspersons.
During the past some years, the Hungarian ICT market has developed speedily, and heads the field in communications tools manufacturing &computer assembly.
The automotive division is a leading industry of the country even while it is behind close-to 21% of its entire exports.