Hungary's trade relations with cefta countries

Abstract

This paper studies the foreign trade relations among CEFTA countries particularly the cooperation between Hungary and the CEFTA countries following the change of the system based on international statistics. The recent decades have resulted in profound changes both regarding the direction of foreign trade turnover (the former eastern direction has benn replaced by the dominance of EU relations) and the foreign trade structure according to principal groups of goods (the exports ratio of machine industry and highly processed goods have incrased significantly). Hungary is one of the investigated countries which set a clear example of positive economic changes. The economic development of the CEFTA countries, the modernisation of their industrial structures provides a firm basis for the more dynamic foreign economic relations.