Concept

Economy of Hungary

Summary
The economy of Hungary is a high-income mixed economy, ranked as the 9th most complex economy according to the Economic Complexity Index. Hungary is a member of the Organisation for Economic Co-operation and Development (OECD) with a very high human development index and a skilled labour force, with the 13th lowest income inequality in the world. The Hungarian economy is the 53rd-largest economy in the world (out of 188 countries measured by IMF) with 265.037billionannualoutput,andranks41stintheworldintermsofGDPpercapitameasuredbypurchasingpowerparity.Hungaryhasanexportorientedmarketeconomywithaheavyemphasisonforeigntrade;thusthecountryisthe35thlargestexporteconomyintheworld.Thecountryhadmorethan265.037 billion annual output, and ranks 41st in the world in terms of GDP per capita measured by purchasing power parity. Hungary has an export-oriented market economy with a heavy emphasis on foreign trade; thus the country is the 35th largest export economy in the world. The country had more than 100 billion of exports in 2015, with a high trade surplus of $9.003 billion, of which 79% went to the European Union (EU) and 21% was extra-EU trade. Hungary's productive capacity is more than 80% privately owned, with 39.1% overall taxati
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