15 Jun 2012
Hungary used to be the largest trading partner of Thailand in Central Europe but has been overtaken by the Czech Republic. In 2015, the volume of trade between Thailand and Hungary amounted to 616.40 million USD. Thailand exported 455.55 million USD and imported 160.85 million USD. The year-on-year growth was slightly negative at -8.30%.
Major export items of Thailand are automatic data processing machines, cars and auto parts, printed circuits, cocks valves and parts, electrical equipment. Items with the highest growth rate are leather products and compressor for refrigerator. Major import items from Hungary are cars, machinery, electrical machinery, animals and animal products and pharmaceutical products.
Hungary mainly trades with EU countries, constituting 75% of total trade. However, the Hungarian government aims to diversify its trading partner and increase trade volume with non-EU member to one third.
Thailand and Hungary established the Joint Commission on Economic Cooperation (JCEC) to be the mechanism for promoting bilateral economic benefits and held the first meeting in 2005. The second meeting was hosted by Hungary on 10-11 September 2015, co-chaired by the Permanent Secretary of Foreign Affairs of Thailand and the Minister of State for Economic Diplomacy of Hungary.
Important outcome of the 2nd JCEC Meeting include congratulating the opening of the Hungarian National Trading House office in Bangkok in 2015, the invitation of Thailand to Hungary to participate in the Thaifex (international food fair) in May 2016 and that Thailand will host the next meeting of the Working Group on Science and Technology under the JCEC in 2016.
Interesting Figures about Thai Products
|1||Rubber producer (2011-2013)|
|1||Canned tuna producer and exporter|
|1||Rice exporter (2014)|
|2||Cassava producer and exporter (2011-2013)|
|2||Hard disk drive exporter (30% of world market share)|
|2||Air conditioner exporter|
|3||Oil palm producer and exporter (2011-2013)|
|4||Sugarcane producer and exporter (2011-2013)|
|4||Pineapple producer and exporter (2011-2014)|
|6||Rice producer (2012 and 2013)|
|8||Parts and accessories of motorcycles exporter (2014)|
|9||Coconuts producer and exporter (2011-2014)|
Calendar of Thai Trade Fair
Every year, the Department of International Trade Promotion, Ministry of Commerce of Thailand and its partners organize a number of trade exibitions to promote exporting of goods & services from Thailand and provide business matching between sellers in Thailand and international buyers and investors.
The Office of Commercial Affairs (Thai Trade Center), Royal Thai Embassy, Budapest has the honor to invite you to visit the most attractive Thai International Trade Fairs to be held in Bangkok throughout the upcoming months. The fairs offer unique opportunities for visitors to meet, establish new business networks and maintain existing trade connections. Should you have any question, please feel free to contact Office of Commercial Affairs, Royal Thai Embassy.
H-1025 Budapest, Vend u.26.
Tel: +361 212 2738
Fax: +361 212 2736
TRADE EVENTS IN 2016
19-23 October 2016
Bangkok International Gift Fair and Bangkok International Houseware Fair 2016
BIG+BIH, one of ASEN’s Leading international trade fairs for trendy gifts and lifestyle products recognized as Thailand’s excellent platform for designers as Thailand’s excellent platform for designers and new entrepreneurs to show their latest collections.
TRADE: October 19 – 21, 2016
PUBLIC: October 22 – 23, 2016
TRADE EVENTS IN 2017
|February 2017||Bangkok Gems & Jewelry Fair 2017*||Impact|
|31 May - 4 June 2017||THAIFEX-World of Food Asia 2017||Impact|
|10-14 August 2017||Bangkok RHVAC and Bangkok E&E 2017||BITEC|
|September 2017||Bangkok Gems & Jewelry Fair 2017*||Impact|
|21-24 September 2017||Thailand International Logistics Fair (TILOG) 2017||BITEC|
|October 2017||Bangkok International Fashion Fair & Bangkok International Leather Fair 2017 (BIFF & BIL)||Impact|
|October 2017||Thailand International Furniture Fair 2017 (TIFF)||Impact|
|October 2017||Bangkok International Gift Fair and Bangkok International Houseware Fair 2017 (BIG/BIH)||Impact|
*The exact date of Bangkok Gems & Jewelry Fair 2017 is still pending as of October 2016 when this information was updated on the website
Currently there are 4 Hungarian investment projects that were approved by the Board of Investment (BOI) of Thailand worth 1,361.5 million baht (approximately 34.23 million euro) as follows:
1. Amada Cable and Wire Harness Company (electricity wire) 75 million baht
2. Csenki Company (Amusement Park) 690 million baht
3. Bangkok Solar Company (solar cell) 400 million baht
4. Rubber mattress manufacturring company 196.5 million baht
The only Thai investment in Hungary is Thai President Foods (Hungary) Company in Esztergom which manufactures instant noodle under the brands Thai Chef and Mama.
Hungary is an emerging market to promote outbound tourism to Thailand. There has been constant growth lately and in 2015 there were about 24,000-25,000 Hungarians traveling to Thailand, which was an increase of 30% from 2014. Target groups are those traveling for family leisure, honeymooners, first time visitors and pensioners.
Since February 2016, Tourism Authority of Thailand (TAT) opened an office in Prague to oversee Central European market, which will help strengthen the promotion of Thailand in Hungary.
In 2015, Bangkok ranked 6th in the top 10 Best Cities in the World according to a survey by Travel&Leisure Magazine. Tripadvisor also announced that Wat Po was the 21st most popular tourist attraction in the world, ranking 4th among attractions in Asia.