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After communism had collapsed in Hungary, the extent of German-Hungarian economic relations showed a dynamically increasing tendency. Moreover, Germany has become the most important economic partner of Hungary (with 26% of the external commercial volumen). The incoming German capital is also of great importance: almost 4000 German affiliated companies are functioning here in several sectors of production and services.


However, the economic crises - that shocked the economic world last year - has had a huge impact on the German affiliated companies in Hungary and it has been badly affecting the foreign trade as well. Nevertheless, if the economic world recovers, the renewed German-Hungarian economic relations will affect the whole Hungarian economy.


We cannot disregard the Austrian-Hungarian foreign trade either, because Austria has also a big role in the Hungarian export structure. According to KSH (Hungarian Central Statistical Office), 4,9% of our export goods were sold to Austrian companies in 2008 – in the same year Hungarian units purchased 6,2% of their import goods from Austria.


The good relationship between German-speaking countries and Hungary has been originating partly from the colorful common history, but the so called „svabish” people has played a big role in it as well as Germany’s East-directed economic strategy in foreign trade and politics.

 

 
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