Share Of 'Value-Added' Created By Foreign Firms In Hungary 2nd Highest In EU

  • 16 Apr 2020 12:44 PM
  • Budapest Business Journal
Share Of 'Value-Added' Created By Foreign Firms In Hungary 2nd Highest In EU
According to a recent release of data by statistical agency Eurostat, the share of value-added generated by foreign-controlled companies in Hungary stood at 50% in 2017, the second-highest rate in the EU, only behind Ireland (62.8%).

The third highest share was recorded in Slovakia (48.1%), followed by Romania (44.2%), Luxemburg (43.7%), and the Czech Republic (42.9%).

On the other end of the spectrum, only 13.2% of value-added was generated by foreign-controlled businesses in Cyprus. The rate was also low in Italy (15.9%), Greece (16.5%, and France (17.2%).

In 2017, foreign-controlled enterprises accounted for 1.3% of the enterprises in the EU, generating 26% of value-added. The share of value-added from foreign-controlled firms in the EU rose by 4.5 pp. The share was 1.6 pp higher than in 2016.

The largest decline of the share compared to 2016 was recorded in Hungary (-1.4 pp). On the other hand, the largest year-on-year increase was registered in Ireland (19.8 pp).

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Budapest Business Journal

Hungary's largest and oldest source of business and financial news in English. Since 1992 it has presented essential information on Hungarian business life, including international analyses about the country. These days the BBJ newspaper is published every other week, while it releases daily business news online including premium paid content.

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