According to Europa Hungary is a non-Eurozone member of the EU. Hungary’s economy was driven mainly by industry, 26.4%; retail spending and consumer services, 18.5% and public spending at 17.5%. By far, Hungary’s largest import and export partner is Germany, accounting for 24.95% of all exports and 49% of the top 6 export destinations and 23.17% of all imports; 43% of the top 6 import originations.
In general, nearly 75% of all Hungarian exports and nearly 70% of all imports are exchanged within Europe and Russia. Lastly, Hungary’s sovereign debt is rated BB+, Ba1 and BB+ by the three ratings agencies; Fitch recently upgraded Hungary’s outlook to positive.
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