1. Trade

Thailand and Hungary established the Join Commission on Economic Cooperation (JCEC) and have organized the JCEC meetings in 2005 and 2015 in Budapest.

            1.1 Trade Value

            In 2020, the total of trade between both countries amounts 708.66 million USD (7.5% increase from 2019) whereby Thailand gains trade surplus of 397.22 million USD (44% increase from 2019). Thailand exports to Hungary 552.94 million USD (34% increase from 2019) and imports 155.72 million USD (23% increase from 2019).

            1.2 Hungary ranked the 53^rd largest trading partner of Thailand. Main export commodities of Thailand are vehicles and automotive parts, computers and components (data processing units), pumps for liquid, parts for spark-ignition, printed circuits, agricultural products and rubber. (Source : Office of Commercial Affairs of Thailand in Budapest, Sep 2021)

            1.4 Main import commodities from Hungary to Thailand are machines and accessories, electrical machinery and accessories, pharmaceutical products, medical and scientific products.

2. Investment

            2.1 Hungarian investment in Thailand

            According to the statistics from BOI during 1970 - 2021, Investment of 5 Hungarian projects were approved with the total values of 1,193 million Baht (37 million USD) including :

1. Solar panel manufacturing by Bangkok Solar Company
2. Aquapark (water theme park) in Phuket by Csenkil Company
3. Production of Electricity wire by Amada Cable and Wire Harness Company
4. Production of Tropical fruit wine

            2.2 Thai investment in Hungary

            Thai President Foods Ltd. established Thai President Foods (Hungary) in Esztergom since 2013 and produces instant noodle under the brands Thai Chef and Mama for the European market.

4. Science and technology

            In 2019, Thailand and Hungary have signed an MOU on Cooperation in Water Resources Management. Both sides have exchanged knowledge and experiences as well as jointly conducted water related activities. The Joint Steering Committee (JSC) was established as implementing authority to push forward the cooperation.