Editing Hungary (section)

== Economy ==
{{Main|Economy of Hungary}}
{{multiple image|perrow=2|align=left|total_width=320
|image=Stock Exchange Palace by Ignác Alpár, detail, 2011 Budapešť 0799.jpg|footer=Hungarian Stock Exchange Palace on [[Liberty Square (Budapest)|Liberty Square]]
}}

Hungary is an OECD high-income [[mixed economy]] with a [[List of countries by Human Development Index|very high human development index]] and skilled labour force with the [[List of countries by income equality|16th lowest income inequality]] in the world.<ref>{{cite web|title=World Bank Country Classification|url=http://web.worldbank.org/WBSITE/EXTERNAL/DATASTATISTICS/0,,contentMDK:20421402~pagePK:64133150~piPK:64133175~theSitePK:239419,00.html#High_income|url-status=dead|archive-url=https://web.archive.org/web/20080524215837/http://web.worldbank.org/WBSITE/EXTERNAL/DATASTATISTICS/0%2C%2CcontentMDK%3A20421402~pagePK%3A64133150~piPK%3A64133175~theSitePK%3A239419%2C00.html|archive-date=24 May 2008|access-date=30 September 2014}}</ref> Furthermore, it is the [[List of countries by economic complexity|9th most complex economy]] according to the Economic Complexity Index.<ref>{{Cite web|date=2018|title=The Atlas of Economic Complexity by @HarvardGrwthLab|url=https://atlas.cid.harvard.edu/rankings/|website=atlas.cid.harvard.edu}}</ref> The economy is the [[List of countries by GDP (PPP)|57th-largest in the world]] (out of 188 countries measured by [[IMF]]) with $265.037&nbsp;billion output<ref name=imf2>{{cite web|url=http://www.imf.org/external/pubs/ft/weo/2017/02/weodata/weorept.aspx?pr.x=43&pr.y=13&sy=2017&ey=2022&scsm=1&ssd=1&sort=country&ds=.&br=1&c=944&s=NGDPD%2CNGDPDPC%2CPPPGDP%2CPPPPC&grp=0&a=|title=Hungary|publisher=International Monetary Fund|access-date=29 April 2017}}</ref> and ranks [[List of countries by GDP (PPP) per capita|49th in the world in terms of GDP per capita]] by [[purchasing power parity]]. The [[Employment-to-population ratio|employment rate]] was 68.3% in 2017;<ref>{{cite web|url=https://www.ksh.hu/docs/eng/xftp/gyor/fog/efog1707.html|title=The employment rate of people aged 15–64 increased to 68.3%|publisher=KSH|access-date=30 August 2017}}</ref> the employment structure shows the characteristics of [[Post-industrial society|post-industrial economies]], 63.2% of employed workforce work in service sector, the industry contributed by 29.7%, while agriculture with 7.1%. Unemployment rate was 4.1% in 2017,<ref>{{cite web|url=http://www.ksh.hu/gyorstajekoztatok/#/en/document/mun1709|title=Unemployment rate decreased to 4.1%|publisher=[[Hungarian Central Statistical Office]]|access-date=26 October 2017}}</ref> down from 11% during the [[2008 financial crisis]].

Hungary is part of the [[European single market]] which represents more than 508&nbsp;million consumers. Several domestic commercial policies are determined by agreements among European Union members and by EU legislation. Hungary is an export-oriented [[market economy]] with a heavy emphasis on foreign trade, thus the country is the [[List of countries by exports|36th largest export economy]] in the world. The country has more than $100&nbsp;billion export in 2015 with high, $9.003&nbsp;billion [[Balance of trade|trade surplus]], of which 79% went to the EU and 21% was extra-EU trade.<ref>{{cite web|url=http://www.ksh.hu/gyorstajekoztatok/#/en/document/kul1512|title=External trade surplus was EUR 604 million in December|work=[[Hungarian Central Statistical Office]]|date=10 March 2016|access-date=10 March 2016}}</ref> Hungary has a more than 80% [[Private sector|privately owned]] economy with [[List of countries by tax revenue to GDP ratio|39.1% overall taxation]], which provides the basis for the country's [[Welfare state|welfare economy]]. On the expenditure side, household consumption is the main component of [[Gross domestic product|GDP]] and accounts for 50% of its total use, followed by gross fixed [[capital formation]] with 22% and government expenditure with 20%.<ref>{{cite web|url=https://www.cia.gov/library/publications/the-world-factbook/fields/2050.html#hu|title=GDP – composition, by end use|publisher=[[CIA World Factbook]]|year=2016|access-date=11 March 2016|archive-date=12 February 2018|archive-url=https://web.archive.org/web/20180212083454/https://www.cia.gov/library/publications/the-world-factbook/fields/2050.html#hu|url-status=dead}}</ref>

Hungary continues to be one of the leading nations for attracting [[foreign direct investment]] (FDI) in [[Central and Eastern Europe]]; the inward FDI in the country was $119.8&nbsp;billion in 2015, while investing more than $50&nbsp;billion abroad.<ref name=factbook/> {{As of|2015}}, the key trading partners were Germany, Austria, Romania, Slovakia, France, Italy, Poland and Czech Republic.<ref>{{cite web|url=https://www.cia.gov/library/publications/the-world-factbook/fields/2050.html#hu|title=Export Partners of Hungary|publisher=[[CIA World Factbook]]|year=2016|access-date=11 March 2016|archive-date=12 February 2018|archive-url=https://web.archive.org/web/20180212083454/https://www.cia.gov/library/publications/the-world-factbook/fields/2050.html#hu|url-status=dead}}</ref> Major industries include food processing, pharmaceuticals, motor vehicles, information technology, chemicals, metallurgy, machinery, electrical goods, and tourism (with 12.1&nbsp;million international tourists in 2014).<ref>{{cite book|date=10 March 2016|doi=10.18111/9789284416899|isbn=9789284416899|title=UNWTO Tourism Highlights, 2015 Edition}}</ref> Hungary is the largest electronics producer in Central and Eastern Europe. Electronics manufacturing and research are among the main drivers of innovation and economic growth in the country. In the past 20 years Hungary has also grown into a major centre for [[mobile technology]], [[information security]], and related hardware research.<ref>{{cite web|url=https://hipa.hu/en/key-sectors/electronics/|archive-url=https://web.archive.org/web/20151023011250/http://hipa.hu/en/key-sectors/electronics/|url-status=dead|archive-date=23 October 2015|title=Electronics|publisher=HIPA|access-date=11 March 2016}}</ref>

Large [[List of companies of Hungary|Hungarian companies]] are included in the [[BUX]], the stock market index listed on [[Budapest Stock Exchange]]. Well-known companies include the [[Fortune Global 500]] firm [[MOL Group]], the [[OTP Bank]], [[Gedeon Richter Plc.]], [[Magyar Telekom]], [[CIG Pannonia]], [[FHB Mortgage Bank|FHB Bank]], [[Zwack liqueur|Zwack Unicum]] and more.<ref>{{cite web|url=https://money.cnn.com/magazines/fortune/global500/2012/countries/Hungary.html?iid=smlrr|title=Global 500 – Countries: Hungary – Fortune|work=[[Money (magazine)|Money]]|date=23 July 2012|access-date=10 June 2013}}</ref> Besides this Hungary has a large portion of specialised [[Small and medium-sized enterprises|small and medium enterprise]], for example a significant number of automotive suppliers and technology [[Startup company|start ups]] among others.<ref>{{cite web|url=http://www.startupranking.com/top/hungary|title=Top – Hungary|publisher=startupRANKING|access-date=10 March 2016}}</ref>

Budapest is the financial and business capital, classified as an Alpha [[Global city|world city]] in the study by the [[Globalization and World Cities Research Network]].<ref>{{cite web|url=http://www.lboro.ac.uk/gawc/world2008t.html|title=The World According to GaWC 2010|date=13 April 2010|work=lboro.ac.uk|access-date=12 May 2014|archive-date=11 August 2016|archive-url=https://web.archive.org/web/20160811203314/http://www.lboro.ac.uk/gawc/world2008t.html|url-status=dead}}</ref> Budapest is the [[primate city]] of Hungary regarding business and economy, accounting for 39% of the national income, the city has a [[gross metropolitan product]] more than $100&nbsp;billion in 2015, making it one of the largest regional economies in the European Union.<ref>{{cite web|last=Istrate|first=Emilia|url=http://www.brookings.edu/research/interactives/global-metro-monitor-3|title=Global MetroMonitor &#124; Brookings Institution|work=Brookings.edu|access-date=10 June 2013|url-status=dead|archive-url=https://web.archive.org/web/20130605135349/http://www.brookings.edu/research/interactives/global-metro-monitor-3|archive-date=5 June 2013}}</ref><ref>{{cite web|url=http://www.portfolio.hu/users/elofizetes_info.php?t=cikk&i=167708|title=Hungary's GDP (IMF, 2016 est.) is $265.037 billion x 39% = $103,36 billion|work=Portfolio online financial journal|access-date=10 June 2013|archive-date=3 March 2016|archive-url=https://web.archive.org/web/20160303190038/http://www.portfolio.hu/users/elofizetes_info.php?t=cikk&i=167708|url-status=dead}}</ref> Budapest is also among the Top 100 GDP performing cities in the world, measured by [[PricewaterhouseCoopers]].<ref>{{cite web|url=http://www.economistinsights.com/sites/default/files/downloads/Hot%20Spots.pdf|title=Benchmarking global city competitiveness|year=2012|publisher=Economist Intelligence Unit|access-date=12 May 2014|url-status=dead|archive-url=https://web.archive.org/web/20140709133545/http://www.economistinsights.com/sites/default/files/downloads/Hot%20Spots.pdf|archive-date=9 July 2014}}</ref>

Hungary maintains its own currency, the [[Hungarian forint]] (HUF), although the economy fulfills the [[Euro convergence criteria|Maastricht criteria]] with the exception of public debt, [[List of countries by public debt|but it is also significantly below the EU average]] with the level of 75.3% in 2015. The [[Hungarian National Bank]] is currently focusing on price stability with an inflation target of 3%.<ref>{{cite web|url=http://www.mnb.hu/en/monetary-policy|title=Monetary Policy|publisher=[[Hungarian National Bank]]|access-date=10 March 2016}}</ref> Hungary's corporate tax rate is only 9%, which is relatively low for EU states.<ref>{{cite web|url=https://hngary.com/tips-doing-business-in-hungary/|title=Tips for doing business in Hungary|work=[[hngary.com]]|year=2017|access-date=28 August 2018}}</ref>

===Science and technology===
{{Main|Science and technology in Hungary|List of Hungarian Nobel laureates}}
[[File:Szentgyorgyi Albert es a c vitamin keplete 1937 okt 31 Pesti Naplo.jpg|thumb|right|[[Albert Szent-Györgyi]] won the [[Nobel Prize in Physiology or Medicine]] for his discovery of [[Vitamin C]]. The [[Nobel Prize]] has been awarded to [[List of Hungarian Nobel laureates|15 Hungarians]]]]
[[File:Hungary-02046 - Budapest University of Technology and Economics (31670993764).jpg|thumb|right|Founded in 1782, the [[Budapest University of Technology and Economics]] is the oldest [[institute of technology]] in the world]]

Hungary's achievements in science and technology have been significant, and research and development efforts form an integral part of the country's economy. Hungary spent 1.61% of its gross domestic product (GDP) on civil research and development in 2020, which is the [[List of countries by research and development spending|25th highest ratio in the world]].<ref name="oecd">{{Cite web|last=Hungarian Central Statistical Office|title=R&D expenditure as a percentage of GDP 2020|url=https://www.ksh.hu/science-and-technology#:~:text=In%202017%2C%20HUF%20517%20billion,level%20of%20the%20national%20economy.|access-date=21 April 2022|website=ksh.hu}}</ref> Hungary ranks 32nd among the most innovative countries in the [[Bloomberg L.P.|Bloomberg Innovation Index]].<ref>{{cite news|title=The Bloomberg Innovation Index|url=https://www.bloomberg.com/graphics/2015-innovative-countries/|work=[[Bloomberg L.P.|Bloomberg]]|access-date=2 April 2022}}</ref> Hungary was ranked 36th in the [[Global Innovation Index]] in 2024.<ref>{{Cite book |author=[[World Intellectual Property Organization]] |year=2024 |title=Global Innovation Index 2024: Unlocking the Promise of Social Entrepreneurship |url=https://www.wipo.int/web-publications/global-innovation-index-2024/en/ |access-date=2024-10-06 |website=www.wipo.int |page=18 |publisher=World Intellectual Property Organization |language=en |doi=10.34667/tind.50062 |isbn=978-92-805-3681-2}}</ref> In 2014, Hungary counted 2,651 full-time equivalent researchers per million inhabitants, steadily increasing from 2,131 in 2010 and compares with 3,984 in the U.S. or 4,380 in Germany.<ref>{{cite news|url=http://data.worldbank.org/indicator/SP.POP.SCIE.RD.P6?locations=HU|work=[[World Bank]]|title=Researchers in R&D (per million people)}}</ref> Hungary's high technology industry has benefited from both the country's skilled workforce and the strong presence of foreign high-tech firms and research centres. Hungary also has one of the highest rates of filed patents, the sixth highest ratio of high-tech and medium high-tech output in the total industrial output, the 12th highest research FDI inflow, placed 14th in research talent in business enterprise and has the 17th best overall innovation efficiency ratio in the world.<ref>{{cite news|url=https://www.globalinnovationindex.org/analysis-economy|work=[[Cornell University]], [[INSEAD]], and the [[World Intellectual Property Organization]]|title=Global Innovation Index – ANALYSIS – Hungary|access-date=17 June 2017|archive-date=24 February 2022|archive-url=https://web.archive.org/web/20220224054436/https://www.globalinnovationindex.org/analysis-economy|url-status=dead}}</ref>

The key actor of research and development in Hungary is the National Research, Development and Innovation (NRDI) Office, which is a national strategic and [[Funding of science|funding agency for scientific research, development and innovation]], the primary source of advice on RDI policy for the Hungarian government and the primary RDI funding agency. Its role is to develop RDI policy and ensure that Hungary adequately invest in RDI by funding excellent research and supporting innovation to increase competitiveness and to prepare the RDI strategy of the government, to handle the NRDI Fund and represents the government and RDI community in international organisations.<ref>{{cite news|url=http://nkfih.gov.hu/the-office|work=NRDI Office|title=The National Research, Development and Innovation Office}}</ref>

Scientific research is supported partly by industry and partly by the state, through universities and by scientific state-institutions such as [[Hungarian Academy of Sciences]].<ref>{{cite news|url=http://mta.hu/english/mta-and-science-106125|work=[[Hungarian Academy of Sciences]]|title=MTA and Science (Infograpihcs)}}</ref><ref>{{cite news|url=http://mta.hu/english/mtas-research-centres-and-institutes-106085|work=[[Hungarian Academy of Sciences]]|title=MTA's Research Centres and Institutes}}</ref> Hungary has been the home of some of the most prominent researchers in various scientific disciplines, notably physics, mathematics, chemistry and engineering. As of 2018, [[List of Hungarian Nobel laureates|thirteen Hungarian scientists]] have been recipients of a [[Nobel Prize]].<ref>{{cite news|url=http://mta.hu/english/hungarys-nobel-prize-winners-106018|work=[[Hungarian Academy of Sciences]]|title=Hungary's Nobel Prize Winners}}</ref> Until 2012 three individuals—Csoma, [[János Bolyai]] and Tihanyi—were included in the UNESCO [[Memory of the World Programme|Memory of the World]] register as well as the collective contributions [[Tabula Hungariae]] and [[Bibliotheca Corviniana]]. Contemporary scientists include mathematician [[László Lovász]], physicist [[Albert-László Barabási]], physicist [[Ferenc Krausz]], and biochemist [[Árpád Pusztai]]. Hungary has excellent [[mathematics education]] which has trained numerous outstanding scientists. Famous Hungarian mathematicians include father [[Farkas Bolyai]] and son [[János Bolyai]], who was one of the founders of [[non-Euclidean geometry]]; [[Paul Erdős]], famed for publishing in over forty languages and whose [[Erdős number]]s are still tracked, and [[John von Neumann]], a key contributor in the fields of [[quantum mechanics]] and [[game theory]], a pioneer of digital computing, and the chief mathematician in the [[Manhattan Project]]. Notable Hungarian inventions include the [[lead dioxide]] [[match]] ([[János Irinyi]]), a type of [[carburetor]] ([[Donát Bánki]], [[János Csonka]]), the electric (AC) train engine and generator ([[Kálmán Kandó]]), [[holography]] ([[Dennis Gabor]]), the [[Kalman filter]] ([[Rudolf E. Kálmán]]), and [[Rubik's Cube]] ([[Ernő Rubik]]).

=== Transport ===
{{Main|Transport in Hungary}}
[[File:Esztergom.desiro.JPG|thumb|[[Siemens Desiro]] passenger trains on the [[Hungarian State Railways]] network, which is one of the [[List of countries by rail transport network size|densest in the world]]]]
Hungary has a highly developed road, railway, air, and water transport system. Budapest serves as an important hub for the [[Hungarian State Railways|Hungarian railway system]] (''MÁV''). The capital is served by three large train stations called ''[[Budapest Keleti station|Keleti]]'' (Eastern), ''[[Budapest Nyugati station|Nyugati]]'' (Western), and ''[[Budapest Déli station|Déli]]'' (Southern) ''pályaudvar''s (termii). [[Szolnok]] is the most important railway hub outside Budapest, while [[Miskolc Tiszai railway station|Tiszai Railway Station]] in Miskolc and the main stations of [[Szombathely]], [[Győr]], [[Szeged]], and [[Székesfehérvár]] are also key to the network.

From March 2024, transport on the Hungarian railway ''MÁV'' will be free for people aged 65 and over and under 14 years of age.<ref>{{cite web|url=https://dailynewshungary.com/key-changes-in-hungarian-public-transport-summarised-in-10-points/|title=Key changes in Hungarian public transport summarised in 10 points – Daily News Hungary|date=10 January 2024}}</ref>

Budapest, [[Debrecen]], Miskolc, and [[Szeged]] have tram networks. The [[Budapest Metro]] is the second-oldest underground [[rapid transit|metro]] system in the world; its [[Metro Line M1 (Budapest Metro)|Line 1]] dates from 1896. The system consists of four lines. A [[regional rail|commuter rail]] system, ''[[BHÉV|HÉV]]'', operates in the Budapest metropolitan area.
Hungary has a total length of approximately {{convert|1314|km|2|abbr=on}} motorways ({{langx|hu|autópálya}}). Motorway sections are being added to the existing network, which already connects many major economically important cities to the capital. Ports are located at Budapest, [[Dunaújváros]] and [[Baja, Hungary|Baja]].

There are five international airports: [[Budapest Ferenc Liszt International Airport|Budapest Ferenc Liszt]] (informally called "Ferihegy"), [[Debrecen International Airport|Debrecen]], [[Hévíz–Balaton Airport|Hévíz–Balaton]] (also called Sármellék Airport), [[Győr-Pér International Airport|Győr-Pér]], and [[Pécs-Pogány International Airport|Pécs-Pogány]], but only two of these (Budapest and Debrecen) receive scheduled flights. Low-budget airline [[Wizz Air]] is based at Ferihegy.

=== Energy ===
{{Main|Energy in Hungary|Renewable energy in Hungary}}
[[File:Mol Campus.jpg|thumb|right|Headquarters of the [[MOL (company)|MOL Group]] ]]
Hungary's total energy supply is dominated by [[fossil fuel]]s, with [[natural gas]] occupying the largest share, followed by [[Petroleum|oil]] and [[coal]].<ref name=":0">{{Cite web|last=International Energy Agency|author-link=International Energy Agency|date=16 December 2021|title=Hungary – Countries & Regions|url=https://www.iea.org/countries/hungary|access-date=2022-05-24|publisher=IEA|location=Paris}}</ref> In June 2020, Hungary passed a law binding itself to a target of [[Carbon neutrality|net-zero emissions]] by 2050. As part of a broader restructuring of the nation's energy and climate policies, Hungary also extended its National Energy Strategy 2030 to look even further, adding an outlook until 2040 that prioritises carbon-neutral and cost-effective energy while focusing on reinforcing [[energy security]] and [[energy independence]].<ref name=":0" /> Key forces in the country's 2050 target include [[Renewable energy|renewables]], [[Nuclear power|nuclear]] electricity, and [[electrification]] of end-use sectors. Significant investments in the power sector are expected, including for the construction of two new nuclear energy generating units. Renewable energy capacity has increased significantly, but in recent years growth in the renewables sector has stagnated. What is more, certain policies that limit development of [[wind power]] are expected to negatively impact the renewables sector.<ref name=":0" />

Hungary's emission of greenhouse gases has dropped alongside the economy's decreasing use of carbon-based fuels. However, independent analysis has identified space for Hungary to set more ambitious emissions reduction targets.<ref name=":0" />