The Treasurer’s Guide to Trade Finance

Hungary

Principal exports

Machinery and equipment, other manufactures,

food products and raw materials.

Import/Export documentation

Within the EU: no documentation

requirements, but a commercial invoice is

typically included.

Outside the EU: commercial invoice, customs

declaration, bill of lading, packing list and,

sometimes, a certificate of origin.

Licences

Imports

ƒ Approximately 5 percent of imported items,

including agricultural products, military

equipment, dual-use items and certain

drugs.

Exports

ƒ Goods/items that are subject to international

controls.

Tariffs/Taxes

Imports

ƒ Tariffs on imports from outside the EU are

set according to the EU’s common customs

code, with higher rates for agricultural

imports.

Exports

ƒ None.

Financing requirements for imports/

exports

ƒ None.

Prohibited items

ƒ Imports that are prohibited in accordance

with EU regulations and UN Security Council

resolutions, such as items deemed a threat

to fauna and flora and national security.

ƒ Exports that are prohibited in accordance

with EU regulations and UN Security Council

resolutions.

Hungary imports exports

Trade information

Key trading partners

Imports by origin

EU 69.5%

Russian

Federation 8.7%

China 6.0%

South Korea 2.1%

USA 1.9%

Other 11.8%

Source: WTO, September 2012

Exports by destination

EU 76.2%

Russian

Federation 3.2%

Ukraine 2.0%

USA 2.0%

United Arab

Emirates 1.8%

Other 14.8%