You are here -allRefer - Reference - Country Study & Country Guide - Hungary >

allRefer Reference and Encyclopedia Resource

allRefer    
allRefer
   


-- Country Study & Guide --     

 

Hungary

 
Country Guide
Afghanistan
Albania
Algeria
Angola
Armenia
Austria
Azerbaijan
Bahrain
Bangladesh
Belarus
Belize
Bhutan
Bolivia
Brazil
Bulgaria
Cambodia
Chad
Chile
China
Colombia
Caribbean Islands
Comoros
Cyprus
Czechoslovakia
Dominican Republic
Ecuador
Egypt
El Salvador
Estonia
Ethiopia
Finland
Georgia
Germany
Germany (East)
Ghana
Guyana
Haiti
Honduras
Hungary
India
Indonesia
Iran
Iraq
Israel
Cote d'Ivoire
Japan
Jordan
Kazakhstan
Kuwait
Kyrgyzstan
Latvia
Laos
Lebanon
Libya
Lithuania
Macau
Madagascar
Maldives
Mauritania
Mauritius
Mexico
Moldova
Mongolia
Nepal
Nicaragua
Nigeria
North Korea
Oman
Pakistan
Panama
Paraguay
Peru
Philippines
Poland
Portugal
Qatar
Romania
Russia
Saudi Arabia
Seychelles
Singapore
Somalia
South Africa
South Korea
Soviet Union [USSR]
Spain
Sri Lanka
Sudan
Syria
Tajikistan
Thailand
Turkmenistan
Turkey
Uganda
United Arab Emirates
Uruguay
Uzbekistan
Venezuela
Vietnam
Yugoslavia
Zaire

Hungary

Organization of Foreign Trade

The government maintained a state monopoly on foreign trade until 1988, when it began allowing all but a few production enterprises to participate in foreign trade. In 1989 the country's once-powerful foreign-trade enterprises still existed, but they held exclusive trading rights on only a narrow range of goods. The Ministry of Trade's chief control instrument on foreign trade was the licensing of imports and exports, which the ministry could use to avoid balance of trade and balance of payments disequilibria. For example, the ministry could deny an enterprise a license to export a product to the Comecon market in order to encourage its export to the convertible-currency market. The ministry issued import licenses according to a list of priority items. Highest-priority goods were those necessary to maintain current production, including raw materials, semimanufactured goods, and spare parts. Second priority went to capital goods and machinery that could quickly boost hard-currency exports. Basic consumer goods and nonessential and luxury items constituted the two lowest categories. The government enacted austerity measures in 1988 that limited imports almost exclusively to the most essential items.

Data as of September 1989

Hungary - TABLE OF CONTENTS

  • The Economy

  • Go Up - Top of Page

    Make allRefer Reference your HomepageAdd allRefer Reference to your FavoritesGo to Top of PagePrint this PageSend this Page to a Friend


    Information Courtesy: The Library of Congress - Country Studies


    Content on this web site is provided for informational purposes only. We accept no responsibility for any loss, injury or inconvenience sustained by any person resulting from information published on this site. We encourage you to verify any critical information with the relevant authorities.

     

     

     
     


    About Us | Contact Us | Terms of Use | Privacy | Links Directory
    Link to allRefer | Add allRefer Search to your site

    ©allRefer
    All Rights reserved. Site best viewed in 800 x 600 resolution.