Integrated in the global value chains – trade developments between Hungary and Asia

Abstract:

The international crisis which has been ongoing since 2008 caused severe recession and decrease of internal demand in the EU area. Therefore, European companies began to look for new markets outside the EU. In spite of the large distance, Asia can be one of the regions aimed by exporters.

In the case of Hungary, this is even supported by the Hungarian government. The role of Asia has increased between 2000-2012 in Hungarian foreign trade. The article describes the developments and trends of Hungarian exports and imports concerning the Asian countries.

The product structure of trade is analysed in detail, geographic and product concentration of trade is shown. We also examine the share of high-tech products in trade with the main important partners of each Asian region. The article concludes that the Hungarian trade with Asia is largely influenced by the global production system of multinational companies.