Foreign-Owned Firms In Hungary Create More Than 50% Of Value Added

  • 11 Apr 2019 11:53 AM
  • Budapest Business Journal
Foreign-Owned Firms In Hungary Create More Than 50% Of Value Added
In 2016, foreign-controlled companies accounted for 51.4% of value added in the non-financial business economy in Hungary, the highest value in the entire European Union, according to Eurostat, the EUʼs official statistical office.

Hungary is followed by Slovakia (48.1%), with Luxembourg (44.6%) in third place. There are four EU Member States with shares of foreign firms providing under 20% of value added: Cyprus (13.4%), Italy (15.8%), Greece (16.3%), and France (16.4%).

Rates in the region were generally higher than the EU average: foreign companies in Poland accounted for 36.8% of value added, while the share was 43.3% in the Czech Republic, and 44% in Romania.

In 2016, some 1.2% of enterprises in the EU were foreign-controlled, accounting for 15.3% of employment and 25% of the value added in the non-financial business economy. From 2010 until 2016, the share of value added by foreign-controlled firms in the entire EU rose by 2.3 percentage points.

Gross value added per employee at foreign-owned companies in Hungary came to EUR 42,300 in 2016, Hungarian state news wire MTI reported.

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Hungary's largest and oldest source of business and financial news in English. Since 1992 it has presented essential information on Hungarian business life, including international analyses about the country. These days the BBJ newspaper is published every other week, while it releases daily business news online including premium paid content.

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