Country Profile

Christian kingdom, hungary is one of the most popular tourist destination in the world. One of the most beautiful country of the world, hungary is located in the central europe, northwest of romania. The country is the home of world heritage sites, second largest lake of the world and europe's largest natural grassland. Hungary is a proactive member of nato and european union since 1999 and 2004 respectively. The country is under the regime of parliamentary democracy political framework. Hungary has witnessed a tremendous transition to a centrally planned economy with a GDP of $194.2 billion. The nation drawn its major GDP part from service and industry sectors, which constitutes 64.2% and 32.4% respectively. Hungary has generated total export of $85.73 billion from its major export partners.

Snapshot

Economic Overview

• Per capita income is one-half of that of the Big Four European nations.
• Strong economic growth.
• Private sector accounts for more than 80% of GDP.
• Foreign ownership of and investment in Hungarian firms are widespread.

International Trade
Major Export Items
Machinery and Equipment, Other Manufactures, Food Products, Raw Materials, Fuels and Electricity.

Main Destinations of Exports
Germany, Austria, France, Italy, UK

Major Import Items
Machinery and Equipment, Other Manufactures, Fuels and Electricity, Food Products, Raw Materials.

Main Origins of Imports
Germany, Austria, Russia, Italy, Netherlands, China, France

Contacts of Trade Ministries/ Associations

Business Visa Rules
The basic requirements for obtaining business visa in Hungary are as follows:

• The passport must be valid for at least 6 months, from the time of return from the Hungary.
• Visa application should be filled in and signed. · When asking for the form, the applicant has to identify the length and purpose of the stay.
• Original (not downloaded copy) entry-exit form has to be filled. The stamped entry-exit form is the part of visa, so it should be kept in the passport.
• 3 recent passport size photos is to be submitted.
• Proof of means of transportation, lodging arrangement and financial means is to be submitted.
• The application form is bilingual, Hungarian and either English, French, German or Russian.

Business Hours
Throughout the year, apart from Festivals, businesses are open at the following hours:
Shops :     Mondays - Fridays - 10:00 - 18:00
                   Saturdays - 09:00 - 13:00
Banks :     Mondays - Thursdays - 8:00 - 14:00
                   Fridays - 08:00 - 13:00
Offices :    Mondays - Thursday - 08:00 - 17:00 (continuously)
                   Fridays - 08:00 - 13:00

All businesses are closed on Sundays apart from restaurants, coffee bars, cinemas and some shopping centers.

Public Holidays