A: Hungary lies on the geographical coordinates of 47° 0' 0" N, 20° 0' 0" E.
Latitude and Longitude of Hungary in other units:
| Unit | Latitude | Longitude |
| Latitude and Longitude to decimals | 47.0 | 20.0 |
| Latitude and Longitude to degrees minutes seconds | 47° 0' 0" N | 20° 0' 0" E |
| Latitude/Longitude to UTM Reference |
| UTM Northing:5205649.347888885 Easting:423974.68790012214 Zone:34T |
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More detail about Hungary
Economy of Hungary ? from communism to capitalism
To begin to start talking about the economy of the Hungarian nation, we might like to know that Hungary cultivates wheat, sugar beet, potato, sunflower, canola, and a wide variety of fruits. Cattle farming include pigs, poultry, sheep, etc. The industries of Hungary produce chemicals, food and automobiles. Some of the huge automobile companies are in Hungary.
Hungary, a European country, had their economy based on agriculture, even before World War II. They also used to concentrate on some small-scale manufacturing. Hungary faced an impediment due to its lack of natural resources, but the strategic geographical position of it facilitated in foreign trade. After the World War II the communist government took initiative and engaged in rapid industrialization. This was done with the objective of making Hungary a more stable nation which would be more self-sufficient economically.
But in 1970s, Hungary almost fell on its mouth, as it suffered both in industry and agriculture, due to a lack of investment. As a consequence, Hungary went into debt, which went on increasing. In 1990s, the Hungarian Government framed new market reforms, that had price and liberation means. The reforms also had a revised tax system, which was expected to drag up the country?s economy.
In 1989, some of the largest American companies like ? IBM, PepsiCo., Coca Cola, Ford, GE, Alcoa etc. invested in Hungarian nation. The continuous liberalization and extensive investment has now resulted in 80% of the country?s economy.
The next step Hungary wanted to take was to be a member of EU. But it was seen that the high budget deficit of Hungary would pose as an impediment in the way of adopting euro. Hungary was also moving away from the requisites of being an EU member. Due to this, in 2006, the Hungarian Government resolved to consolidate the economic system again. They increased taxes, decreased subsidies, streamlining the public sector. Today, Hungarian economy is a medium-sized one; structurally and politically an open form of economy.
