Speaking at a press conference in Budapest following the release of 2016’s foreign trade data, Minister of Foreign Affairs and Trade Péter Szijjártó highlighted Hungary’s record-breaking trade volume and unprecedented trade surplus.
Hungarian Foreign Minister Peter Szijjártó emphasized the important role foreign trade plays in the strengthening of the national economy and praised the release of economic data indicating exports were up 2.7% in 2016 compared to 2015. Szijjártó added that foreign investment accounted for the creation over 17,646 new domestic jobs underlining the positive performance and long-term health of the Hungarian economy.
The Foreign Minister also highlighted that Hungary’s foreign trade surplus also broke a record in 2016, up almost $1.5 billion from 2015. Speaking from Budapest, Szijjártó said, “The more exports we are able to realize in Hungary, the more Hungarian people will have jobs, and the more Hungarian small and medium-sized enterprises will be able to join the supply chains of these large international corporations.”
News of record-breaking foreign trade volume comes on the heels of November 2016 news that the Hungarian corporate tax rate will be lowered to 9% in 2017.
Currently, over 1,600 US companies and forty of the fifty largest US multinationals operate in Hungary providing jobs for over 100,000 Hungarians.