Hungary

Hungary is a democratic parliamentary republic, located in Central Europe. The unicameral parliament has 199 members: 106 from single-member constituencies and 93 from a national list. The president, who is elected by parliament for a five-year term, is largely a figurehead. Executive power is exercised by the prime minister. Hungary ranks as 61st largest economy in the world (by GDP PPP). Hungarian economy is highly integrated with the European Union, which buys around 80% of Hungarian merchandise exports. Total external trade volume is around 86% of GDP, which makes Hungary one of the most open economies in the world. The central bank, Magyar Nemzeti Bank (MNB), pursues an inflation-targeting approach to monetary policy and maintains a floating exchange rate regime. Economic weaknesses include: high public debt and large total external debt burden, vulnerable banking sector and declining FX reserves (low import cover).     

Names and Codes
Country Name Hungary
Country code HUN
Currency Name Hungarian forint
Currency Code HUF
Currency Symbol Ft
Subunit Ft1 = 100 filler
Key Pair USD/HUF
Forex Quote direct
Central Bank Name Magyar Nemzeti Bank
Central Bank Abb. MNB
Economy and Trade
GDP (USD billion, 2017) 139
GDP per capita (USD, PPP, 2017) 28500
Real GDP growth (2013-17) 3.2
Inflation (2013-17) 0.8
FDI inflows (% GDP, 2013-17) 9.8
Current account balance (% GDP, 2013-17) 3.5
Trade (% GDP, 2014-16) 85.8
Share in world total exports (%, 2016) 0.64
Monetary Policy and Currency
Exchange rate regime Floating
Monetary policy Inflation targeting
Price stability 3.00%
Real Interest Rate -1.60
Currency - global turnover (USD billion, 2016) 15
Currency - global share (%, 2016) 0.30
Key Pair - global turnover (USD billion, 2016) n/a
Key Pair - global share (%, 2016) N/A
Ranking - Economy
GDP per capita (USD, PPP, 2017)
Real GDP growth (2013-17)
Current account balance (% GDP, 2013-17)
Trade (% GDP, 2014-16)
Ranking - Currency and Monetary Policy
Currency - global turnover (USD billion, 2016)
Key Pair - global turnover (USD billion, 2016)
Real Interest Rate
Inflation (2013-17)
International Trade
Main Export (%, 2015)
Main Import (%, 2015)