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Hungary - Market Overview

Table of content

Source: Statistics Canada
Note: Data on Canada-Hungary bilateral service trade is not available.

Why Hungary Matters

How to export to Hungary

Read the guide Export Guide to the EU.

Sectoral Opportunities in Hungary:

Automotive

Continued growth in Hungary’s automotive sector will present investment opportunities for Canadian companies with automotive expertise and for Canadian suppliers and Canadian Research and Development (R&D) enterprises.

Clean Technologies

New clean technology initiatives on behalf of the Hungarian government include water, waste water, waste management-remediation, and clean transportation. Mandated targets for greener industries, combined with significant governmental and EU funding for clean technologies, present opportunities for Canadian investment.

Information and Communications Technology (ICT)

Hungary’s ICT sector has seen continual growth over the past decade and is currently the sixth-largest in the European Union (EU) by percentage of GDP (2013). There are substantial investment opportunities especially in shared services, following the massive “Digital Hungary” initiative to stimulate ICT competitiveness and improve economic growth across the country.

Infrastructure

New EU funding for power grid development in Central and Eastern European markets are expected to have a positive impact on Hungary’s domestic infrastructure development projects. This could create opportunities for Canadian service providers and for Canadian infrastructure development businesses.

Oil and Gas

Hungary’s long-term energy strategy (2012-2030) aims to balance the country’s energy supply. Opportunities exist for Canadian energy expertise and potential joint venture activities.

Mining

Hungary has significant volumes of uranium, copper, coal, and bauxite. Given Canada’s world-leading expertise in mining, there stands to be ample opportunities for Canadian investment.

Contact

To learn more about trade and investment opportunities in Hungary, contact your Trade Commissioner in Budapest, Hungary.

The Trade Commissioner Office in Budapest also covers Slovenia.

Footnotes

Footnote 1

Statistics Canada

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Footnote 2

Eurostat

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Footnote 3

IMF

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Footnote 4

Eurostat

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Footnote 5

Statistics Canada

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Footnote 6

Statistics Canada

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