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Sources: The Library of Congress Country Studies; CIA World Factbook
    << Back to Hungary Economy

    Geologically, Hungary is composed primarily of young sedimentary rock that is generally poor in minerals and other raw materials except bauxite, soft coal, and small deposits of uranium, natural gas, oil, iron ore, manganese, and copper. However, Hungary has large tracts of fertile land, a favorable climate, and some forests. The country's general lack of raw materials has necessitated foreign trade, a concern that has dominated the economic policies of Hungarian governments since 1918, when the country lost much of the territory it held prior to World War I (see Trianon Hungary , ch. 1). Raw materials, semifinished products, spare parts, fuels, and electricity accounted for 64.2 percent of imports in 1986 and cost 25.9 percent of Hungary's gross domestic product (GDP--see Glossary). The Soviet Union was Hungary's principal supplier of raw materials (see Foreign Trade , this ch.).

    Data as of September 1989

    NOTE: The information regarding Hungary on this page is re-published from The Library of Congress Country Studies and the CIA World Factbook. No claims are made regarding the accuracy of Hungary RESOURCE BASE information contained here. All suggestions for corrections of any errors about Hungary RESOURCE BASE should be addressed to the Library of Congress and the CIA.

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Revised 10-Nov-04
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