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Country Commercial Guides
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CHAPTER X. APPENDICES A -- D: Country Data; Domestic Economy; Trade; and Investment Statistics
APPENDIX A: COUNTRY DATA
(SOURCE: CENTRAL STATISTICAL OFFICE)
POPULATION (MILLION) .............................10.092 POPULATION GROWTH RATE(%) ............................0 RELIGION(S) .........CATHOLIC/REFORMIST/JEWISH/LUTHERAN GOVERNMENT SYSTEM .................REPUBLIC/MULTI-PARTY LANGUAGE(S) ...................HUNGARIAN/GERMAN/ENGLISH WORK WEEK .............................MONDAY TO FRIDAY APPENDIX B: DOMESTIC ECONOMY (SOURCE: HUNGARIAN NATIONAL BANK) 1997 1998 1999 2000 NOMINAL GDP 45000 47040 49000 50960 (USD MILLION) REAL GDP GROWTH (%) 4.4 5.1 4 CA 4 GDP PER CAPITA 4158 4704 4870 5050 (USD) GOV. SPENDING AS A percent OF GDP 50-51 45.08 Ca 50-51 -- CONSUMER PRICE INFLATION (%) 18.3 14.3 CA. 9 CA. 7 UNEMPLOYMENT RATE 10.4 9.1 9.5 CA. 9 (%)*/ EXCHANGE RATE (annual average) FOR USD 186.8 214.5 240.0 CA. 260 DEBT SERVICE PAYMENTS/ EXPORT**(%) 25.3 15.57 CA 15.81 CA 15.0 CUM. CAPITAL 937 1.286 CA 2.0 CA 2.0 OUTFLOW APPENDIX C: TRADE (IN MILLIONS OF U.S. DOLLARS) (SOURCE: HUNGARIAN GLOBAL TRADE STATICS: HUNGARIAN MINISTRY OF FINANCE U.S.-HUNGARIAN TRADE FIGURES: U.S. DEPARTMENT OF COMMERCE) 1997 1998 1999* 2000 HUNGARIAN EXPORTS** 19100 23005 22858 CA 23000 EXPORTS TO USA*** 1078 1567 1595 -- HUNGARIAN IMPORTS** 21234 25706 25393 CA 27000 IMPORTS FROM USA*** 486 482 524 -- FX RESERVES BILLIONS OF U.S. DOLLARS 8.45 9.37 CCA. 9.0 -- ----------------------------------------------------------------- NOTES TO APPENDICES B&C: */ EXTRAPOLATED FROM JANUARY-MAY 1999 TRADE STATISTICS **/ HUNGARIAN CUSTOMS STATISTICS INCLUDES CUSTOMS FREE ZONES ***/ STAT USA - U.S. DEPARTMENT OF COMMERCE TRADE STATISTICSAPPENDIX D: INVESTMENT STATISTICS
Foreign Direct Investment Statistics
Based on information from the Ministry of Industry and Trade, foreign direct investment totaled $19.7 billion at the end of 1998. Hungary has received annual foreign direct investment (FDI) inflows equal to $2 billion in each of the past three years and expects to receive similar amounts annually through 2002. At the end of 1998, some 35,000 joint ventures were registered in Hungary and forty of the world's 50 largest multinational companies now have a Hungarian subsidiary.
Foreign Direct Investment in Hungary (does not include in-kind contributions)
($ million)
Year Value ---- ----- 1989 350 1990 850 1991 1,651 1992 1,487 1993 2,294 1994 1,684 1995 4,949 1996 2,828 1997 1,214 1998 2,384 Total 19,691Of all investments made up to the end of 1998, 50 percent of foreign capital was channeled to industry, 15 percent to the telecommunication sector, 13 percent in energy production/supply, 6 percent in bank and finance, and another 6 percent in commerce and 10 percent in other branches.
The United States is the leading investor in Hungary with approx. USD 7 billion of FDI (or 29 percent of investments above USD 10 million). Other major investing countries are Germany, France, Austria, and the Netherlands, followed by Italy, Sweden, Great Britain, Switzerland, Japan, and Canada.
Most Hungarian investment abroad is located in neighboring countries. Hungarian investment of various forms in the United States currently totals about $113 million.
Major Foreign Investments in Hungary
Listed below are major foreign direct investments in Hungary, primarily privatization and greenfield projects. This list is not exhaustive, but indicative only. Investment totals reflect cumulative foreign capital invested, at historical cost. In some cases, reinvested local revenues and subsequent company growth mean that the current market value of the foreign investor's stake substantially exceeds the original capital invested.
FOREIGN INVESTORS: MagyarCom (Ameritech and Deutsche Telekom) COUNTRY OF ORIGIN: United States/Germany FOREIGN CAPITAL INVESTED: USD 1.727 billion SECTOR: Telecommunications LOCAL SUBSIDIARY: MATÁV FOREIGN INVESTOR: General Electric (GE Lighting) COUNTRY OF ORIGIN: United States FOREIGN CAPITAL INVESTED: USD 736 million SECTOR: Lighting LOCAL SUBSIDIARY: GE Lighting Tungsram FOREIGN INVESTORS: RWE Energie AG / Energie Baden-Würtenberg AG COUNTRY OF ORIGIN: Germany FOREIGN CAPITAL INVESTED: DM 1 billion SECTOR: Electricity LOCAL SUBSIDIARY: Elmu / Émász / Mátra Power Plant / RWE Hungary FOREIGN INVESTOR: Eridania Beghin-Say SA COUNTRY OF ORIGIN: France FOREIGN CAPITAL INVESTED: USD 540 million SECTOR: Production and marketing of sugar LOCAL SUBSIDIARY: Eridania Beghin-Say / Szolnok Sugar Factory / Szerencse Sugar Factory / Mátra Regional Sugar Factory / Cereol / Agrokomplex FOREIGN INVESTOR: Aegon Insurance COUNTRY OF ORIGIN: The Netherlands FOREIGN CAPITAL INVESTED: HUF 108.8 billion SECTOR: Insurance LOCAL SUBSIDIARY: Aegon Insurance Group (AB-Aegon General Insurance / AB-Moneta / AB Novinvest / Aegon Pension Fund) FOREIGN INVESTOR: General Motors COUNTRY OF ORIGIN: United States FOREIGN CAPITAL INVESTED: USD 450 million SECTOR: Finished autos/auto parts LOCAL SUBSIDIARY: Opel Hungary FOREIGN INVESTORS: Scandinavian PTTs (PTT Telecom / Telenor / Teledenmark / Telecom) COUNTRY OF ORIGIN: The Netherlands / Norway / Denmark / Finland FOREIGN CAPITAL INVESTED: USD 400 million SECTOR: Telecommunications (Mobile) LOCAL SUBSIDIARY: Pannon GSM FOREIGN INVESTORS: Volkswagen/Audi COUNTRY OF ORIGIN: Germany FOREIGN CAPITAL INVESTED: DM 700 million SECTOR: Finished autos/auto parts LOCAL SUBSIDIARY: Audi Hungaria FOREIGN INVESTORS: Banca Commerciale Italiana COUNTRY OF ORIGIN: Italy FOREIGN CAPITAL INVESTED: USD 370 million SECTOR: Banking LOCAL SUBSIDIARY: CIB Bank FOREIGN INVESTOR: Bayernwerk AG COUNTRY OF ORIGIN: Germany FOREIGN CAPITAL INVESTED: USD 370 million SECTOR: Electricity distribution LOCAL SUBSIDIARY: Dédász / Édász / Titász / Kogáz / Bayernwerk Hungaria FOREIGN INVESTOR: Ericsson COUNTRY OF ORIGIN: Sweden FOREIGN CAPITAL INVESTED: USD 350 million SECTOR: Telecommunication LOCAL SUBSIDIARY: Ericsson FOREIGN INVESTOR: US West COUNTRY OF ORIGIN: United States FOREIGN CAPITAL INVESTED: USD 330 million SECTOR: Telecommunications (Mobile) LOCAL SUBSIDIARY: Westel 900 Telecommunications FOREIGN INVESTOR: Coca-Cola COUNTRY OF ORIGIN: U.S. and other FOREIGN CAPITAL INVESTED: USD 280 million SECTOR: Beverages LOCAL SUBSIDIARY: Coca-Cola Hungary FOREIGN INVESTOR: Electricite de France (EdF) COUNTRY OF ORIGIN: France FOREIGN CAPITAL INVESTED: USD 253.5 million SECTOR: Electricity LOCAL SUBSIDIARY: Édász/Démász/EdF FOREIGN INVESTOR: Vivendy CG Sat Hungary COUNTRY OF ORIGIN: Netherlands FOREIGN CAPITAL INVESTED: USD 250 million SECTOR: Telephone operator LOCAL SUBSIDIARY: Deltav / Digitel 2002 / Jásztel FOREIGN INVESTOR: Hungarian Telephone and Cable Corporation COUNTRY OF ORIGIN: United States FOREIGN CAPITAL INVESTED: USD 250 million SECTOR: Telephone operator LOCAL SUBSIDIARY: HTCC Consulting Rt. /Pápatel/ Rábacom/ Kelet-Nógrádcom/Hungarotel Rt. FOREIGN INVESTOR: Suzuki Motor Corporation COUNTRY OF ORIGIN: Japan FOREIGN CAPITAL INVESTED: USD 250 million SECTOR: Finished autos LOCAL SUBSIDIARY: Magyar Suzuki FOREIGN INVESTOR: ABN AMRO COUNTRY OF ORIGIN: Netherlands FOREIGN CAPITAL INVESTED: USD 237 million SECTOR: Banking LOCAL SUBSIDIARY: ABN AMRO FOREIGN INVESTORS: VEW/Ruhrgas COUNTRY OF ORIGIN: Germany FOREIGN CAPITAL INVESTED: USD 227 million SECTOR: Gas Distribution LOCAL SUBSIDIARY: Budapest Gas Works / Ddgaz FOREIGN INVESTOR: Allianz COUNTRY OF ORIGIN: Germany FOREIGN CAPITAL INVESTED: USD 220 million SECTOR: Insurance LOCAL SUBSIDIARY: Hungaria Biztosító FOREIGN INVESTOR: UTI COUNTRY OF ORIGIN: The Netherlands FOREIGN CAPITAL INVESTED: USD 216 million SECTOR: Telecommunications LOCAL SUBSIDIARY: UTI FOREIGN INVESTOR: VodafoneAirtouch COUNTRY OF ORIGIN: United States FOREIGN CAPITAL INVESTED: USD 206 million (as of June 1998) SECTOR: Telecommunications LOCAL SUBSIDIARY: Primatel FOREIGN INVESTOR: Gaz de France COUNTRY OF ORIGIN: France FOREIGN CAPITAL INVESTED: USD 202 million SECTOR: Natural gas distribution LOCAL SUBSIDIARY: Égáz/Dégáz/GdF Representation, Pannon Energia FOREIGN INVESTOR: Sanofi SA COUNTRY OF ORIGIN: France FOREIGN CAPITAL INVESTED: approx. USD 200 million SECTOR: Pharmaceuticals LOCAL SUBSIDIARY: Chinoin FOREIGN INVESTOR: Tractebel SA COUNTRY OF ORIGIN: Belgium FOREIGN CAPITAL INVESTED: USD 180 million SECTOR: Electricity LOCAL SUBSIDIARY: Dunamenti Power Co. FOREIGN INVESTOR: Ford Motors COUNTRY OF ORIGIN: United States FOREIGN CAPITAL INVESTED: USD 165 million SECTOR: Automotive parts LOCAL SUBSIDIARY: Ford Hungaria FOREIGN INVESTOR: Prinzhorn Groupe COUNTRY OF ORIGIN: Austria FOREIGN CAPITAL INVESTED: USD 160 million SECTOR: Paper and packaging LOCAL SUBSIDIARY: Dunapack/Halaspack FOREIGN INVESTOR: Aluminum Company of America (Alcoa) COUNTRY OF ORIGIN: United States FOREIGN CAPITAL INVESTED: USD 150 million SECTOR: Aluminum LOCAL SUBSIDIARY: Alcoa-Kofém FOREIGN INVESTOR: IBM COUNTRY OF ORIGIN: United States FOREIGN CAPITAL INVESTED: USD 150 million SECTOR: Fixed disk drives LOCAL SUBSIDIARY: IBM Storage Products Hungary FOREIGN INVESTOR: PepsiCo COUNTRY OF ORIGIN: United States FOREIGN CAPITAL INVESTED: USD 150 million SECTOR: Beverages LOCAL SUBSIDIARY: Fovárosi Ásványvíz (Budapest Mineral water and Soft Drinks) FOREIGN INVESTOR: Feruzzi COUNTRY OF ORIGIN: Italy FOREIGN CAPITAL INVESTED: USD 160 million SECTOR: Food, detergents LOCAL SUBSIDIARY: NMV FOREIGN INVESTOR: Philip Morris COUNTRY OF ORIGIN: United States FOREIGN CAPITAL INVESTED: USD 150 million SECTOR: Consumer Goods LOCAL SUBSIDIARY: Egri Dohánygyár FOREIGN INVESTOR: AES COUNTRY OF ORIGIN: United States FOREIGN CAPITAL INVESTED: USD 130 million SECTOR: Electricity generation, coal LOCAL SUBSIDIARY: Dunaújváros FOREIGN INVESTOR: Siemens COUNTRY OF ORIGIN: Germany FOREIGN CAPITAL INVESTED: USD 129 million SECTOR: Electronics and electrical engineering LOCAL SUBSIDIARY: Siemens Hungary FOREIGN INVESTOR: Guardian Glass COUNTRY OF ORIGIN: United States FOREIGN CAPITAL INVESTED: USD 110 million SECTOR: Glass LOCAL SUBSIDIARY: Hunguard FOREIGN INVESTOR: Bristol Myers COUNTRY OF ORIGIN: United States FOREIGN CAPITAL INVESTED: USD 110 million SECTOR: Pharmaceuticals LOCAL SUBSIDIARY: Pharmavit Squibb FOREIGN INVESTOR: Sara Lee/Douwe Egbert COUNTRY OF ORIGIN: United States FOREIGN CAPITAL INVESTED: USD 100 million SECTOR: Food processing LOCAL SUBSIDIARY: Compack FOREIGN INVESTOR: Baruse BV./Pennecom BV. COUNTRY OF ORIGIN: the Netherlands FOREIGN CAPITAL INVESTED: USD 100 million SECTOR: Telecommunications LOCAL SUBSIDIARY: Monortel FOREIGN INVESTOR: Servier COUNTRY OF ORIGIN: France FOREIGN CAPITAL INVESTED: USD 100 million SECTOR: Pharmaceuticals LOCAL SUBSIDIARY: Egis FOREIGN INVESTOR: Metro COUNTRY OF ORIGIN: Germany FOREIGN CAPITAL INVESTED: USD 100 million SECTOR: Food retailing LOCAL SUBSIDIARY: Metro FOREIGN INVESTOR: Unilever COUNTRY OF ORIGIN: Holland/UK FOREIGN CAPITAL INVESTED: USD 100 million SECTOR: Food, detergents LOCAL SUBSIDIARY: Unilever FOREIGN INVESTOR: Hungarian Investment COUNTRY OF ORIGIN: UK FOREIGN CAPITAL INVESTED: USD 100 million SECTOR: Investment fund LOCAL SUBSIDIARY: Nikex FOREIGN INVESTOR: Philips Car Systems COUNTRY OF ORIGIN: Germany FOREIGN CAPITAL INVESTED: USD 100 million SECTOR: Car stereos, CD/cassette players LOCAL SUBSIDIARY: Euroton Technica FOREIGN INVESTOR: Denso Corporation COUNTRY OF ORIGIN: Japan FOREIGN CAPITAL INVESTED: USD 100 million SECTOR: Car components LOCAL SUBSIDIARY: Denso Manufacturing Hungary Ltd. FOREIGN INVESTORS: Various COUNTRY OF ORIGIN: France/Austria FOREIGN CAPITAL INVESTED: USD 220 million SECTOR: Construction LOCAL SUBSIDIARY: Hungarian Euro-Expressway FOREIGN INVESTOR: GE Capital Corporation COUNTRY OF ORIGIN: United States FOREIGN CAPITAL INVESTED: USD 87 million SECTOR: Financing LOCAL SUBSIDIARY: Budapest Bank FOREIGN INVESTORS: First Hungary Fund COUNTRY OF ORIGIN: United Kingdom FOREIGN CAPITAL INVESTED: USD 80 million SECTOR: Portfolio LOCAL SUBSIDIARY: Rónai és Társai Rt. FOREIGN INVESTORS: Host Marriott Corp./Erste Bank COUNTRY OF ORIGIN: USA/Austria FOREIGN CAPITAL INVESTED: USD 75 million SECTOR: Hotel LOCAL SUBSIDIARY: Marriott SOURCE: Company statistics and Hungarian Investment and Trade Development (ITD) Agency.
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[end of document] Note* International Copyright, United States Government, 1998 (or other year of first publication). All rights under foreign copyright laws are reserved. All portions of this publication are protected against any type or form of reproduction, communications to the public and the preparation of adaptations, arrangement and alterations outside the United States. U. S. copyright is not asserted under the U.S. Copyright Law, Title 17, United States Code.
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