Hungarian Economics

The economy of Hungary experienced market liberalization in the early 1990s as part of the transition from a socialist economy to a market economy. Hungary is a member of the Organisation for Economic Co-operation and Development since 1995, a member of the World Trade Organization since 1996, and a member of the European Union since 2004. Hungary's main industries are mining, metallurgy, construction materials, processed foods, textiles, chemicals such as pharmaceuticals, and motor vehicles. Hungary's main agricultural products are wheat, corn, sunflower seed, potatoes, sugar beets; pigs, cattle, poultry, and dairy products.