Business, Management and Accounting
8 years ago

Hungary's EU membership boosts agricultural trade, leading to record profits.

Studies in Agricultural Economics
The impact of ten years of European Union membership on Hungarian agricultural trade
Zsuzsanna Hegedüs, Judit Kiss

Paper Summary

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The impact of Hungary joining the European Union on its agricultural trade was studied from 2003 to 2013. Hungarian agricultural trade with EU countries increased significantly during this time, with exports and imports both growing three times in value. The EU-27 became Hungary's main market for exports and imports. While Hungary mainly exported raw materials and semi-processed goods, its imports were more diverse and focused on processed goods. The balance of Hungary's agricultural trade with the EU improved to EUR 2.7 billion by 2012.