dor Geza
JESZENSZKY chancery: 3910 Shoemaker Street NW, Washington, DC 20008
consulate(s) general: Los Angeles and New York FAX: [1] (202) 966-8135
telephone: [1] (202) 362-6730

Diplomatic representation from the US: chief of mission: Ambassador
Nancy Goodman BRINKER embassy: Szabadsag ter 12, H-1054 Budapest
mailing address: pouch: American Embassy Budapest, 5270 Budapest Place,
Department of State, Washington, DC 20521-5270 telephone: [36] (1)
475-4336, 475-4156 FAX: [36] (1) 475-4520

Flag description: three equal horizontal bands of red (top), white,
and green

Economy Hungary

Economy - overview: Hungary continues to demonstrate strong economic
growth and to work toward accession to the European Union. The
private sector accounts for over 80% of GDP. Foreign ownership of and
investment in Hungarian firms is widespread, with cumulative foreign
direct investment totaling more than $23 billion since 1989. Hungarian
sovereign debt was upgraded in 2000 to the second-highest rating among all
the Central European transition economies. Inflation and unemployment -
both priority concerns in 2001 - have declined substantially. Economic
reform measures such as health care reform, tax reform, and local
government financing have not yet been addressed by the ORBAN government.

GDP: purchasing power parity - $120.9 billion (2001 est.)

GDP - real growth rate: 3.9% (2001 est.)

GDP - per capita: purchasing power parity - $12,000 (2001 est.)

GDP - composition by sector: agriculture: 6% industry: 34% services: 60%
(2000 est.)

Population below poverty line: 8.6% (1993 est.)

Household income or consumption by percentage share: lowest 10%: 4.1%
highest 10%: 20.5% (1998)

Distribution of family income - Gini index: 25.3 (1998)

Inflation rate (consumer prices): 9.2% (2001 est.)

Labor force: 4.2 million (1997)

Labor force - by occupation: services 65%, industry 27%, agriculture 8%
(1996)

Unemployment rate: 6.5% (2001 est.)

Budget: revenues: $13 billion expenditures: $14.4 billion, including
capital expenditures of $NA (2000 est.)

Industries: mining, metallurgy, construction materials, processed foods,
textiles, chemicals (especially pharmaceuticals), motor vehicles

Industrial production growth rate: 4.7% (2001 est.)

Electricity - production: 33.436 billion kWh (2000)

Electricity - production by source: fossil fuel: 58.83% hydro: 0.53%
other: 0.35% (2000) nuclear: 40.29%

Electri