The economic relations between Belgium and Hungary are intensifying year by year. Belgium is an important trade partner of Hungary making the country the 12th most important partner regarding the total value of imports and 14th in terms of the Hungarian exports. Trade relations are improving significantly between the two countries, the trade turnover between Belgium and Hungary has increased by 12.5% in 2015 to 3.79 billion euros.
Belgium is Hungary’s 7th-8th most important partner when it comes to foreign direct investments: since the early years of the 1990s, 1.23 billion euros has been invested in Hungary. There are more than 200 Belgian companies in the Hungarian market and there is serious commitment to maintain the high level of economic relations between the two countries. In June 2015, following the initiative of the Vallon and Flemish investment and trade promotion agencies (AWEX, FIT Agency) the Belgian Business Club (Belgabiz) has been founded in Budapest. Main Belgian investors among others in Hungary: K&H, Samsonite Europe, GSK Vaccines, Tungsram-Schréder, Sinia, Van Genechten Packaging, Packapime.