Economy Of Hungary
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Economy Of Hungary
The economy of Hungary is a developing, high-income mixed economy that is the 53rd-largest economy in the world (out of 188 countries measured by IMF) with $265.037 billion annual output, and ranks 41st in the world in terms of GDP per capita measured by purchasing power parity. Hungary has a very high human development index and a skilled labour force, with the 22nd lowest income inequality by Gini index in the world. Hungary has an export-oriented market economy with a heavy emphasis on foreign trade; thus the country is the 35th largest export economy in the world. The country had more than $100 billion of exports in 2015, with a high trade surplus of $9.003 billion, of which 79% went to the European Union (EU) and 21% was extra-EU trade. Hungary's productive capacity is more than 80% privately owned, with 39.1% overall taxation, which funds the country's welfare economy. On the expenditure side, household consumption is the main component of GDP and accounts for 50% o ...
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Budapest
Budapest is the Capital city, capital and List of cities and towns of Hungary, most populous city of Hungary. It is the List of cities in the European Union by population within city limits, tenth-largest city in the European Union by population within city limits and the List of cities and towns on the river Danube, second-largest city on the river Danube. The estimated population of the city in 2025 is 1,782,240. This includes the city's population and surrounding suburban areas, over a land area of about . Budapest, which is both a List of cities and towns of Hungary, city and Counties of Hungary, municipality, forms the centre of the Budapest metropolitan area, which has an area of and a population of 3,019,479. It is a primate city, constituting 33% of the population of Hungary. The history of Budapest began when an early Celts, Celtic settlement transformed into the Ancient Rome, Roman town of Aquincum, the capital of Pannonia Inferior, Lower Pannonia. The Hungarian p ...
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Primary Sector Of The Economy
The primary sector of the economy includes any industry involved in the extraction and production of raw materials, such as farming, logging, fishing, forestry and mining. The primary sector tends to make up a larger portion of the economy in developing countries than it does in developed countries. For example, in 2018, agriculture, forestry, and fishing comprised more than 15% of GDP in sub-Saharan Africa but less than 1% of GDP in North America. In developed countries the primary sector has become more technologically advanced, enabling for example the mechanization of farming, as compared with lower-tech methods in poorer countries. More developed economies may invest additional capital in primary means of production: for example, in the United States corn belt, combine harvesters pick the corn, and sprayers spray large amounts of insecticides, herbicides and fungicide Fungicides are pesticides used to kill parasitic fungi or their spores. Fungi can cause serious d ...
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Food Processing
Food processing is the transformation of agricultural products into food, or of one form of food into other forms. Food processing takes many forms, from grinding grain into raw flour, home cooking, and complex industrial methods used in the making of convenience foods. Some food processing methods play important roles in reducing food waste and improving food preservation, thus reducing the total environmental impact of agriculture and improving food security. The Nova classification groups food according to different food processing techniques. Primary food processing is necessary to make most foods edible while secondary food processing turns ingredients into familiar foods, such as bread. Tertiary food processing results in ultra-processed foods and has been widely criticized for promoting overnutrition and obesity, containing too much sugar and salt, too little fiber, and otherwise being unhealthful in respect to dietary needs of humans and farm animals. Processin ...
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Construction Materials
This is a list of building materials. Many types of building materials are used in the construction industry to create buildings and structures. These categories of materials and products are used by architects and construction project managers to specify the materials and methods used for building projects. Some building materials like cold rolled steel framing are considered modern methods of construction, over the traditionally slower methods like blockwork and timber. Catalogs Catalogs distributed by architectural product suppliers are typically organized into these groups. Industry standards The Construction Specifications Institute maintains the following industry standards: *MasterFormat 50 standard divisions of building materials - 2004 edition (current in 2009) * 16 Divisions Original 16 divisions of building materials See also * Building materials * Alternative natural materials * Glass in green buildings * Green building and wood * List of commercially availabl ...
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Metallurgy
Metallurgy is a domain of materials science and engineering that studies the physical and chemical behavior of metallic elements, their inter-metallic compounds, and their mixtures, which are known as alloys. Metallurgy encompasses both the science and the technology of metals, including the production of metals and the engineering of metal components used in products for both consumers and manufacturers. Metallurgy is distinct from the craft of metalworking. Metalworking relies on metallurgy in a similar manner to how medicine relies on medical science for technical advancement. A specialist practitioner of metallurgy is known as a metallurgist. The science of metallurgy is further subdivided into two broad categories: chemical metallurgy and physical metallurgy. Chemical metallurgy is chiefly concerned with the reduction and oxidation of metals, and the chemical performance of metals. Subjects of study in chemical metallurgy include mineral processing, the extraction ...
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Mining
Mining is the Resource extraction, extraction of valuable geological materials and minerals from the surface of the Earth. Mining is required to obtain most materials that cannot be grown through agriculture, agricultural processes, or feasibly created Chemical synthesis, artificially in a laboratory or factory. Ores recovered by mining include Metal#Extraction, metals, coal, oil shale, gemstones, limestone, chalk mining, chalk, dimension stone, rock salt, potash, gravel, and clay. The ore must be a rock or mineral that contains valuable constituent, can be extracted or mined and sold for profit. Mining in a wider sense includes extraction of any non-renewable resource such as petroleum, natural gas, or even fossil water, water. Modern mining processes involve prospecting for ore bodies, analysis of the profit potential of a proposed mine, extraction of the desired materials, and final mine reclamation, reclamation or restoration of the land after the mine is closed. Mining ma ...
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List Of European Countries By Average Wage
This is the map and list of European countries by monthly average wage (annual divided by 12 months), gross income, gross and net income (after taxes) for full-time employees in their local currency and in euros. The chart below reflects the average (mean) wage as reported by various data providers, like Eurostat. → The salary distribution is skewness, right-skewed, therefore more than 50% of people earn less than the average gross salary. Thus, median figures might be more representative than averages. → These figures will shrink after income tax is applied. In some countries, social security, contributions for pensions, public schools, and health are included in these taxes. In certain countries, actual incomes may exceed those listed in the table due to the existence of grey economy, grey economies. Maps Gross average monthly earnings The countries and territories on the map have gross average monthly earnings (taxable income) for full-time employees of: ...
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List Of Countries By Inequality-adjusted HDI
This is a list of countries by inequality-adjusted Human Development Index (IHDI), as published by the UNDP in its 2025 Human Development Report. According to the 2016 Report, "The IHDI can be interpreted as the level of human development when inequality is accounted for", whereas the Human Development Index itself, from which the IHDI is derived, is "an index of potential human development (or the maximum IHDI that could be achieved if there were no inequality)". Methodology The index captures the HDI of the average (calculated using not arithmetic, but geometric mean) person in society, which is less than the aggregate HDI when there is inequality in the distribution of health, education and income. Under perfect equality, the HDI and IHDI are equal; the greater the difference between the two, the greater the inequality. The IHDI, estimated for the world and specific countries, captures the losses in human development due to inequality in health, education and inco ...
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List Of Countries By Human Development Index
The United Nations Development Programme (UNDP) compiles the Human Development Index (HDI) of 193 nations in the annual Human Development Report. The index considers the health, education, income and living conditions in a given country to provide a measure of human development which is comparable between countries and over time. The HDI is the most widely used indicator of human development and has changed how people view the concept. However, several aspects of the index have received criticism. Some scholars have criticized how the factors are weighed, in particular how an additional year of life expectancy is valued differently between countries; and the limited factors it considers, noting the omission of factors such as the levels of distributional and gender inequality. In response to the former, the UNDP introduced the inequality-adjusted Human Development Index (IHDI) in its 2010 report, and in response to the latter the Gender Development Index (GDI) was introduced ...
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United Nations Development Programme
The United Nations Development Programme (UNDP) is a United Nations agency tasked with helping countries eliminate poverty and achieve sustainable economic growth and human development. The UNDP emphasizes on developing local capacity towards long-term self-sufficiency and prosperity. Based at the headquarters of the United Nations in New York City, it is the largest UN development aid agency, with offices in 177 countries. The UNDP is funded entirely by voluntary contributions from UN member states. Founding The UNDP was founded on 22 November 1965 through the merger of the Expanded Programme of Technical Assistance (EPTA) and the Special Fund in 1958. The rationale was to "avoid duplication of heiractivities". The EPTA was set up in 1949 to support the economic and political aspects of underdeveloped countries while the Special Fund was to enlarge the scope of UN technical assistance. The Special Fund arose from the idea of a Special United Nations Fund for Economic D ...
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Eurostat
Eurostat ("European Statistical Office"; also DG ESTAT) is a department of the European Commission ( Directorate-General), located in the Kirchberg quarter of Luxembourg City, Luxembourg. Eurostat's main responsibilities are to provide statistical information to the institutions of the European Union (EU) and to promote the harmonisation of statistical methods across its member states and candidates for accession as well as EFTA countries. The organisations in the different countries that cooperate with Eurostat are summarised under the concept of the European Statistical System. Organisation Eurostat operates pursuant to Regulation (EC) No 223/2009. Since the swearing in of the von der Leyen Commission in December 2019, Eurostat is allocated to the portfolio of the European Commissioner for the Economy, Paolo Gentiloni. The Director-General of Eurostat is Mariana Kotzeva, former Deputy Director-General of Eurostat and President of the National Statistical Institute ...
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European Commission
The European Commission (EC) is the primary Executive (government), executive arm of the European Union (EU). It operates as a cabinet government, with a number of European Commissioner, members of the Commission (directorial system, informally known as "commissioners") corresponding to two thirds of the number of Member state of the European Union, member states, unless the European Council, acting unanimously, decides to alter this number. The current number of commissioners is 27, including the president. It includes an administrative body of about 32,000 European civil servants. The commission is divided into departments known as Directorate-General, Directorates-General (DGs) that can be likened to departments or Ministry (government department), ministries each headed by a director-general who is responsible to a commissioner. Currently, there is one member per European Union member state, member state, but members are bound by their oath of office to represent the genera ...
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