Exporting to Hungary
Ease of doing business
Hungary’s economy has been extensively liberalised through privatisation, foreign direct investment and the introduction of comprehensive commercial laws. Hungary’s business culture is similar to the UK’s and English is widely spoken, so UK companies find it easy to work with local partners.
Hungary is the perfect place for British companies seeking to expand their operations in Central Europe and Eastern Europe. Many companies have selected the country to be their regional centre or global back office.
Hungary’s well-educated and professionally trained workforce is one of the country’s main economic advantages for UK exporters who need to staff locally.
Opportunities for exporters
There are a opportunities for UK companies across a broad range of industries. Our trade advisers in Hungary have identified particular opportunities for UK businesses in the following sectors.
Hungary aims to significantly increase its renewable energy output by 2020. This offers supply-chain opportunities for UK companies with expertise in geothermal, wind, biomass and solar energy. There is also demand for renewable electricity generation, energy storage, and smart grid and metering solutions for Hungary’s ‘smart cities’ project.
The Mátra power plant, the second largest producer of electricity in Hungary, needs to be developed and refurbished to meet environmental requirements. This offers opportunities for UK companies with the relevant expertise.
Demand for British products
British healthcare and medical equipment products have a good reputation in Hungary. The country imports the majority of the products needed for the everyday running of its healthcare service. There are opportunities for UK companies offering high-quality and competitively priced products.
The Hungarian life sciences sector has one of the most developed pharmaceutical and biotechnology sectors in Central and Eastern Europe. It is home to fast-developing research institutions.
Growing number of SMEs
The number of small and medium enterprise (SME) biotechnology companies in Hungary is growing. There are significant opportunities for UK biotechnology companies to collaborate with Hungarian counterparts.