These are the best-selling Hungarian products

Have you ever wondered which Hungarian products rocked foreign markets? Here are the best-selling products from 2017, based on Napi.hu’s report.

On a yearly level, export has grown to HUF 31,000 billion (~EUR 95 billion) in 2017, which means a 7.4 pc increase compared to the year before. Import has also grown in the last year: its total amount was HUF 28,000 billion (~EUR 86 billion), leading up to a 10 pc increase.

Altogether, the balance of trade – the calculated difference between export and import of a country – and trade surplus has declined in comparison to the total amount of surplus in 2016.

Hungarian cars, motors and car components were the most popular Hungarian products to export besides medicine and TVs. These were the most circulated products in 2017. With regards to the other side of the balance, cars, phones, medicine and car components were the goods that were imported to Hungary in the highest amounts.

In overall, the total value of exported goods in the category of means of transportation and machines added up to HUF 17,000 billion (~EUR 52 billion), some 56 pc of the total exported value.

Automobiles were imported for HUF 3000 billion (~EUR 9 billion), while for HUF 930 billion (~EUR 3 billion) in 2017 – thus, the balance is positive, showing a HUF 2,000 billion (~EUR 6 billion) surplus.

The export value of both processed goods (such as medicine) and food increased by 7.2 pc, the former worth HUF 10,000 billion (~EUR 30 billion), the latter approximately HUF 2,000 billion (~EUR 6 billion).

Hungary’s largest trading partner is the EU – and inside the EU, Germany in specifics -, while its largest non-EU trading partner is the US. That is the reason the Hungarian Foreign Minister Péter Szijjártó urges EU-US trade cooperation to resolve any potential trade conflicts.

Photo: erdely.ma

Source: Napi.hu