Why is it worth exporting to Russia?

Russia’s per capita GDP and PPP are hardly behind those of Hungary in statistics

Oroszország GDP

Purchasing power parity (in short: PPP) is a method for economists to calculate an alternative rate between two currencies. Purchasing power parity measures how many products and services can be bought in one currency compared to another one, with regard to the different prices prevailing in the two countries. Those goods (products and services) make up a so-called basket, the contents of which must be carefully selected. The reference currerncy is usually the US dollar for one given year. This method overcomes a twofold problem. Currency rates may undergo smooth and rough changes without changing the economic environment. A short-term international comparison would arrive at a false conclusion by using market rates. Currencies of poor countries are usually undervalued because of their low productivity (see the Balassa–Samuelson effect).

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Russian GDP in 2010 rose by 4.5% again

Oroszország GDPRussian GDP (PPP), billion USD
Here are the most important crisis check measures taken by the Russian government in 2009: state support to reinforce banks’ liquidity; support for the agricultural, industrial and services sectors by means of state guarantees, preferential credits, restructuring overdue taxes, government procurements and customs alleviations; the government has nodded to the crisis budget for 2009 as well as the crisis management action plan formed along seven outstanding tasks: measures taken to support society (social support); increasing industrial and technological potential; increasing domestic demand; long-term modernization plans (innovative developments); shortening the red tape tying down companies (including the struggle against corruption and support for SMEs); strong national fiscal system; responsible macroeconomic policies by the government and the Central Bank

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Russia is the 6th most important buyer’s market in Europe …

Exports worth USD 302bn in 2009

Imported products: machinery and equipment, basic consumer goods, medicine, foodstuffs.

Oroszország exportja

Major trading partner countries:
1. Germany
2. The Netherlands
3. China
4. Italy
5. Turkey

6. USA
7.………
20. Hungary

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In recent years Russia has paid special interest to its links to Hungary

Our turnover in 2008 exceeded the record mark of USD 14bn. The value of the same in 2009 (USD 8,55bn) was 61% of the previous year’s turnover.
Russia’s share in Hungary’s international trade has been around 5% in recent years, providing for 5.3% of the turnover in 2009.


Export termékek

Most of the processed goods were medicine and pharmaceutical products.

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Sectors and product groups promising from the aspect of Hungarian exports

Of the projects to be realized in connection with the four major national plans of housing supply, agriculture (mainly animal husbandry), health care supply and education development, the first three provide for numerous export boosting opportunities for Hungarian entrepreneurs in the future, mostly in the following areas and those linked to them:

Construction of apartments, houses, low-elevation apartment blocks
Restoration of pre-fabricated apartments
Construction and restoration of public buildings with different functions
Erection of skeleton structure industrial and communal buildings

Production of building materials, interior decoration materials and tiles
Sanitary products and equipment
Energetics, gas heating technology
Water treatment and cleaning, restoration of water conduits and sewage systems
Street lighting, lighting technology, electric appliances
Processing of industrial, communal and hazardous waste, establishment of waste incinerators
Supply of medicines and preparations
Supply of health care equipments and instruments
Seeds, pesticides, agricultural technologies

Cattle, pig and poultry husbandry technologies, sires
Establishment of farms
Supply and joint production in Russia of agricultural machinery
Establishment of meat and dairy processing plants


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