Figures from the first eight months of this year show that Hungary’s exports have grown by 3% this year, with the machine industry and pharmaceuticals being the areas that mostly drive exports.

In the first eight months of this year, Hungary exported more to 34 countries than in the whole of last year, he added. Hungary’s exports accounted for 89% of the GDP in the first half of this year, he noted.

He noted that Hungary helps its small and medium sized companies find market opportunities abroad, with representatives of the Hungarian National Trading House operating in 47 countries, adding that the network is set to be expanded by another 9 locations next year.

Some 79.1% of Hungary’s exports are to the European Union but thanks to the opening to the east and south policies announced by the government, exports to countries involved in these schemes grew by 7% and 9%, respectively, between 2010 and 2015.

Szijjártó noted that Hungary won the right to host the World Export Development Forum in 2017.

Republished with permission of Hungary Matters, MTI’s daily newsletter.

MTI photo: Soós Lajos