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Hungary

 
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Hungary

ECONOMIC SECTORS

Industry overtook agriculture in the postwar era to become the predominant economic sector. In 1986 industry accounted for 50.7 percent of gross output; agriculture and forestry, 18.2 percent; nonmaterial branches (generally services), 11.3 percent; construction, 6.3 percent; transportation, post, and telecommunications, 5.6 percent; trade, 6.1 percent; and water works supply, 1 percent (see table 6, Appendix). Industry has taken up the most of the investment funds since the early 1960s, followed by consumer goods and services (the nonmaterial branches), agriculture, and transportation and communication (see table 7, Appendix). Despite a growing private sector, state-owned enterprises dominated the economy. According to official statistics, state-owned enterprises produced 63.4 percent of national income in 1986; the cooperative sector produced 23 percent; auxiliary farms of private individuals, 6.6 percent; and the private sector, 7 percent (see table 8, Appendix). Economists estimated that the extralegal "third economy" also made up a significant portion of the country's economic life.

Data as of September 1989

Hungary - TABLE OF CONTENTS

  • The Economy

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