A lot of analysts have been comparing the economic crisis in Iceland as to what will happen in Hungary. As Andras Simor said on CNBC, the only two things Hungary and Iceland have in common are that both are mid-small sized countries in area, and both have tons of thermal water.. Let's take a closer look.
-Iceland population: 300 000 Hungary's Population: 10 000 000... That means we are 35 times their size.
-Iceland GDP: 10 billion USD; Hungary GDP: near 200 billion
-Hungary is a member of the European Union.. Iceland is not...
-Hungary has a trade surplus, Iceland does not.
-Hungary's export (besides porn): Cars (Audi, Mercedes, Suzuki, GM, etc...); electronics (HP, Phillips, IBM); wheat;
-Iceland's export: Fish
-Iceland's short term debt is 1700% of their GDP (wow), Hungary's bellow 100%.
Yeh not the same
Subscribe to:
Post Comments (Atom)
3 comments:
Hungary's exports****
Hey- watch it man. Fish are a valuable resource.
FTIW, Hungary's small trade surplus is on track to disappear by the end of this year. More relevantly, its current account deficit (goods and services), while shrinking, is at an unsustainable level if investors continue to be uneasy about potentially unstable emerging markets. That said, I agree that Hungary most definitely is not Iceland.
Post a Comment