Márton Nagy: in the structure of the Hungarian economy, high-tech represents a high proportion

By: Trademagazin Date: 2023. 06. 28. 11:00

In the structure of the Hungarian economy, high-tech represents a high proportion – emphasized Minister of Economic Development Márton Nagy at the handover of the Bosch Rexroth Innovation Experience Center (Bosch CU.BE – Customer Benefits) in Budapest on Wednesday.

He explained that the role of high technology in the growth of Hungarian industry is significant. According to research by the International Monetary Fund (IMF), high-tech represents 70 percent of the Hungarian economy, which means that Hungary is ahead of almost all developed countries.

He added that Hungary has the 14th most complex export in the world, and the proportion of high-tech within manufacturing exports is exceptionally high.

The Minister of Economic Development called the Hungarian economy’s results in technology and knowledge transfer remarkable and indicated that according to the global innovation index, Hungary ranks 7th based on the utilization of knowledge in the local economy.