The biggest share (82.6%) in 2017 deliveries from Russia to Hungary was energy resources sold for the amount of 2.9 billion dollars against 2.2 billion in 2016. The indicator increased by 35.1% due to higher contract prices for exported fuel and energy products.
Last year, the growth of 26.4% – from 94.5 million dollars to 119.4 million – was recorded among Russian manufacturers of machinery, equipment and vehicles. Domestic companies delivered upgraded wagons for the Budapest subway, as well as equipment for repair of the units of Paks Nuclear Power Plant.
On the side of Hungary, 54.3% in the structure of import to Russia fell on the products of processing industry (1.04 billion dollars), 32.3% – on engineering (619.3 million) and 17.5% – on food (225.6 million). The proportion of high-tech products in the total Hungarian merchandise exports amounted to almost 60% in 2017, the report says.
European companies sell pumps, engines, data processing units, pharmaceuticals, electrical engineering items, etc. In the last year, the Hungarian suppliers (Richter Gedeon Nyrt., Egis Gyógyszergyár Zrt.) sold pharmaceutical products for 430 million dollars.
The sales of electric machines and equipment is estimated as 276 million dollars, the main players in this sphere are Samsung Zrt., Jabil Circuit Hungary Kft. and Lear Corporation Hungary Kft. The total sales of cars and components amounted to 130 million dollars, with key suppliers — Magyar Suzuki Zrt., ZF Hungária Kft., Knorr-Bremse Hungária Kft. and Rába Futómű Kft.
During 2018, the countries are also increasing their performance.