Foreign Companies Made HUF 47,000 Billion In Hungary Last Year

  • 31 Dec 2018 8:27 AM
  • Hungary Matters
Foreign Companies Made HUF 47,000 Billion In Hungary Last Year
Foreign-owned non-financial companies had 47,000 billion forint (EUR 146bn) sales revenue in Hungary in 2017, 6.95% more in current prices than in 2016.

This is according to research findings based on preliminary data just released by the Central Statistical Office (KSH).

Foreign owned companies and the subsidiaries of foreign companies employed 26.4% of all corporate employees, but they accounted for 50.2% of all revenues.

Foreign companies provided 56.2% of all production value, 50% of all added value and 43.9% of all gross investment in the corporate sector.

Foreign owned companies derived 84% of their revenue from the three sectors of manufacturing, commerce and logistics in 2017.

Foreign companies accounted for 56% of all revenues in the IT sector and 72% in the manufacturing sector. In current prices added value from foreign owned companies’ production reached 9,900 billion forints in 2017, up 8.7% compared to 2016 while in the whole business sector it was up 12% on average.

Foreign companies employed 715,000 workers last year, 4.1% more than in the year before that.

Employment growth throughout the entire business sector was 1.5%.

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