Country @rating: A2
Speculative GRADE
An unsteady political and economic environment is likely to affect further an already poor payment record. |
Form of government |
Republic |
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Administrative organisation |
7 regions |
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Area |
93,030 km2 |
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Population |
10.159,000, density: 109 inhabitants / km2 |
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Official language |
Hungarian |
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Local currency |
1 Hungarian Forinth (HUF) = 100 Fillers |
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Capital |
||
Major cities / population |
Debrecen |
207,000 |
Miskolc |
182,000 |
|
Szeged |
164,000 |
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Pécs |
160,000 |
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Ethnic groups |
96.6% Hungarians, minorities of Sinti and Roma, Germans, Croatians, Romanians, ... |
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Religion |
61% Roman Catholic, 20.0% Calvinist, 4% Lutheran, 15% other (minority religions) |
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Natural resources |
Bauxite, manganese, coal, natural gas/oil, hot springs |
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|
Membership in international organisations |
UNO,
WTO, IWF, World Bank, Council of |
|
MAJOR MACRO ECONomic indicators
Key Data (in million EUR) | 2002 | 2003 | 2004 | 2005 | 2006* | 2007* |
GDP (real in %) | 3.5 | 2.9 | 4.2 | 3.7 | 4.0 | 3.9 |
Consumer price (%) | 5.3 | 4.7 | 6.8 | 3.7 | 2.7 | 2.7 |
Gross fixed capital formation | 9.3 | 2.5 | 8.4 | 9.4 | 6.7 | 6.5 |
Unemployment (%) | 5.8 | 5.9 | 6.1 | 7.1 | 7.0 | 6.8 |
Budget deficit (in % of GDP) | -8.5 | -6.5 | -5.4 | -6.1 | -5.2 | -4.1 |
Merchandise exports (million €) | 36,800 | 38,400 | 44,500 | 49,800 | 55,200 | 61,000 |
Merchandise imports (million €) | 39,000 | 41,300 | 46,900 | 50,900 | 56,600 | 62,200 |
Current account (million €) | -4,900 | -6,400 | -7,100 | -6,700 | -7,200 | -7,000 |
FDI (net inflow in million €) | 2,700 | -10 | 3,300 | 3,000 | 3,500 | 3,500 |
Gross foreign debt (in % of GDP) | 62.0 | 67.8 | 68.8 | 67.4 | 69.0 | 77.0 |
* forecast | ||||||
MARKET SIZE
Indicators | Hungary | regional average | emerging countries average |
GNP per capita (PPP dollars) | 13,840 | 7,530 | 4,300 |
GNP per capita | 6,350 | 2,580 | 1,280 |
Human development index | 0.862 | 0.806 | 0.697 |
Wealthiest 10% | 22.2 | 30 | 33 |
Urban population percentage | 65 | 64 | 43 |
Percentage under 15 years old | 16.3 | 20 | 31 |
Number of telephones | 349 | 228 | 112 |
Number of computers | 108.4 | 73.4 | 28.4 |
Source: Coface, www.trading-safely.com | |||
Development of the Hungarian Forinth vs. the Euro and US Dollar
Average Exchange Rate | 2002 | 2003 | 2004 | 2005 | 2006* | 2007* |
HUF/EUR | 243.0 | 253.5 | 251.7 | 248.1 | 255.1 | 265.0 |
HUF/USD | 258.0 | 224.4 | 202.6 | 199.4 | 210.4 | 212.0 |
* forecast | ||||||
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