Reference rates22.10.2019 / 1.1130 / 7.8795
Hungary is situated in the Carpathian Basin and is bordered by Slovakia to the north, Romania to the east, Serbia to the south, Croatia to the southwest, Slovenia to the west, Austria to the northwest, and Ukraine to the northeast. The country's capital and largest city is Budapest. Hungary is a member of the European Union, the OECD, the Visegrád Group, and the Schengen Area.
Hungary is a democratic and developed country with an advanced high-income economy, a high quality of life and a very high standard of living.
The economy of Hungary is a medium-sized, high-income, structurally, politically and institutionally open economy, which is part of the European Union's (EU) single market. Hungary is a member of the Organisation for Economic Co-operation and Development (OECD) since 1995, a member of the World Trade Organization (WTO) since 1996, and a member of the European Union since 2004. Hungary hosts the first foreign office of the China Investment Promotion Agency (CIPA).
The private sector accounts for more than 80% of the Hungarian gross domestic product (GDP). Hungary's main industries are mining, metallurgy, construction materials, processed foods, textiles, chemicals (especially pharmaceuticals), and motor vehicles. Hungary's main agricultural products are wheat, corn, sunflower seed, potatoes, sugar beets; pigs, cattle, poultry, and dairy products.