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 22nd lowest income inequality by Gini index in the world. The Hungarian economy is the 53rd-largest economy in the world with $265.037 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 taxation, which funds the country's welfare economy. On the expenditure side, household consumption is the main component of GDP and accounts for 50% of its total, followed by gross fixed capital formation with 22% and government expenditure with 20%.
Budapest is the capital and most populous city of Hungary. It is the ninth-largest city in the European Union by population within city limits and the largest city on the Danube river; the city has an estimated population of 1,752,286 over a land area of about 525 square kilometres. Budapest, which is both a city and county, forms the centre of the Budapest metropolitan area, which has an area of 7,626 square kilometres and a population of 3,303,786. It is a primate city, constituting 33% of the population of Hungary.
Wizz Air, legally incorporated as Wizz Air Hungary Ltd., is a Hungarian ultra low-cost carrier with its head office in Budapest, Hungary. The airline serves many cities across Europe, as well as some destinations in North Africa, the Middle East, and South Asia. It has the largest fleet of any Hungarian airline, although it is not a flag carrier, and serves 54 countries. As of 2023, the airline has its largest bases at Bucharest Henri Coandă International Airport, Budapest Ferenc Liszt International Airport and London Luton Airport and flies to 194 airports.
OTP Bank Group is the largest commercial bank of Hungary and one of the largest independent financial service providers in Central and Eastern Europe and with banking services for private individuals and corporate clients. The OTP Group comprises subsidiaries in the field of insurance, real estate, factoring, leasing and asset management, investment and pension funds. Besides Hungary, OTP Group operates in 10 countries of the region via its subsidiaries: in Albania, in Bulgaria, in Croatia, in Romania, in Serbia, in Slovenia, in Ukraine, in Moldova, in Montenegro and in Russia.
BUX is a blue chip stock market index consisting up to 25 major Hungarian companies trading on the Budapest Stock Exchange. Prices are taken from the electronic Xetra trading system. According to the operator Budapest Stock Exchange, the BUX measures the performance of the Equities Prime Market's 12 to 25 largest Hungarian companies in terms of order book volume and market capitalization. It is the equivalent of the Dow Jones Industrial Average and DAX, the index shows the average price changing of the shares with the biggest market value and turnover in the equity section. Hereby this is the most important index number of the exchange trends.
Gedeon Richter Plc. is a European multinational pharmaceutical and biotechnology company headquartered in Budapest. It is the largest pharmaceutical company in Central and Eastern Europe, with an expanding direct presence in Western Europe, China, Northern America and Latin America. Richter has the largest R&D unit in Central and Eastern Europe and operations in over 100 countries.
Budapest Stock Exchange(BSE) (Hungarian: Budapesti Értéktőzsde (BÉT)) is the 2nd largest stock exchange in Central and Eastern Europe by market capitalization and liquidity. It is located at 55 Krisztina Boulevard, Budapest, Hungary, in the Buda Centre of the Hungarian National Bank Previously, from 1864, during the Austro-Hungarian Empire it was located in the Budapest Stock Exchange Palace building, until a large trading floor was necessary. The exchange is controlled by listed issuers, by Hungarian private investors and by the central bank. The BSE is member of the World Federation of Exchanges and the Federation of European Securities Exchanges.
MOL Plc., also known as MOL Group, is a Hungarian multinational oil and gas company headquartered in Budapest, Hungary. Members of MOL Group include among others the Croatian and Slovak formerly state-owned oil and gas companies, INA and Slovnaft. MOL is Hungary's most profitable enterprise, with net profits of $770 million in 2019. The company is also the third most valuable company in Central and Eastern Europe and placed 402 on the Fortune Global 500 list of the world's largest companies in 2013.
Cinema City International N.V. is the largest cinema operator in Central and Eastern Europe as well as in Israel and the third largest cinema operator in all of Europe. The Company operates 99 multiplexes with a total of 966 screens.
The Tehran Stock Exchange (TSE) is Iran's largest stock exchange, which first opened in 1967. The TSE is based in Tehran. As of May 2012, 339 companies with a combined market capitalization of US$104.21 billion were listed on TSE. TSE, which is a founding member of the Federation of Euro-Asian Stock Exchanges, has been one of the world's best performing stock exchanges in the years 2002 through 2013. TSE is an emerging or "frontier" market.
The Dar es Salaam Stock Exchange (DSE) is a stock exchange located on Ohio Street, west of Kivukoni, south east of Dar es Salaam, the commercial capital and largest city in Tanzania. It was incorporated in September 1996 and trading started in April 1998. It is a member of the African Stock Exchanges Association and the World Federation of Exchanges. The exchange is open five days a week, from Monday through Friday. The trading days are weekly from Monday to Friday, starting from 10.00 am to 14.00 pm.
According to the Fourth Five-Year Economic Development Plan (2005–2010), the Privatization Organization of Iran affiliated with the Ministry of Economic Affairs and Finance is in charge of setting prices and ceding shares to the general public and on the Tehran Stock Exchange. The privatization effort is primarily backed by reformist members of the Iranian government and society who hope that privatization can bring about economic and social change.
Thomas Peterffy is a Hungarian-born American billionaire businessman. He is the founder, chairman, and the largest shareholder of Interactive Brokers. Peterffy worked as an architectural draftsman after emigrating to the United States, and later became a computer programmer. In 1977, he purchased a seat on the American Stock Exchange and played a role in developing the first electronic trading platform for securities. Forbes's 2023 list of The World's Billionaires estimated his net worth at US$25.3 billion, making him the 57th richest man in the world.
Elbit Imaging Ltd., formerly Elbit Medical Imaging Ltd., is an Israeli holding company with activities in real estate, medical imaging, hotels, shopping malls, and retail.
Attila Szalay-Berzeviczy is a Hungarian economist and global head of Global Securities Services at UniCredit Group in Milan. He is the president of the Budapest Olympic Movement civil association and co-chairman of the Hungarian Fencing Federation.
The economy of Austria-Hungary changed slowly during the existence of the Dual Monarchy, 1867-1918. The capitalist way of production spread throughout the Empire during its 50-year existence replacing medieval institutions. In 1873, the old capital Buda and Óbuda merged with the third city, Pest, thus creating the new metropolis of Budapest. The dynamic Pest grew into Hungary's administrative, political, economic, trade and cultural hub. Many of the state institutions and the modern administrative system of Hungary were established during this period.
András Simor is a Hungarian economist, who served as governor of the Hungarian National Bank (MNB) from 2007 to 2013. He was replaced by György Matolcsy.
The Central European Blue Chip Index (CETOP) is a stock market index which reflects the performance of the companies with the biggest market value and turnover in the Central European region.
CIG Pannonia Life Insurance Plc. is a Hungarian multinational financial services company headquartered in Budapest. Its core business and focus is life and non-life insurance. At present, CIG Pannonia is engaged in the life insurance business in Hungary, Romania and Slovakia.
Opus Global is a Hungarian industrial conglomerate and asset management company, headquartered in Budapest, Hungary. Opus Global's subsidiaries play a significant role in Hungary's strategically important industries.
