Due to its geographical proximity, low inflation, stable economic growth and advanced infrastructure, Austria is a popular target market for Hungarian enterprises, which also impacts economic indicators.
Hungary's exports to Austria amounted to more than EUR 4.9 billion in 2018, an increase of nearly EUR 90 million compared to foreign trade figures a year earlier. The most important Hungarian export articles for the Austrian market include various machinery and electrical products, vehicles and transport equipment, and plant products.
Moreover, there are more than two thousand Austrian companies in Hungary employing nearly 70 thousand people, which also demonstrates the exemplary cooperation between the two countries. The most important Austrian companies in Hungary include Spar, Henkel, Schwarzmüller and ÖBB (Austrian Federal Railways). The most significant Hungarian-owned companies operating in Austria are affiliated enterprises of MOL Group and Szamos Marcipán Kft.
On the basis of preliminary surveys and market feedback Hungarian companies can establish successful cooperation in the field of export of sports equipment, medical aids, processed meat products, food supplements, metallurgical technologies, lighting equipment, among others.