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Hungary Contracts

Hungary has made the transition from a centrally planned to a market economy, with a per capita income one-half that of the Big Four European nations. About half of Hungary's land is arable. With highly diversified crop and livestock production, the country is self-sufficient in food. Machinery, equipment, and food products are the most important exports; machinery and equipment, manufactured goods, fuels, and electricity are imported. The country gains its revenue mainly from the private sector, and the rest from the foreign owners, financial organization, industry, telecommunication and trading regions. Germany is the country's largest trading partner by far, followed by Austria, Italy, and France. The tourism industry is also an important source of foreign capital.

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