MFB Periscope July 2017

The MFB Periscope is a monthly report published by the Hungarian Development Bank. Its aim is to analyse the most recent trends in the real economy and financial markets and to discuss also actual topics concerning the Hungarian economy and its broader economic environment.

MFB Periscope July 2017

Focus

 

 Hungary’s haulage industry by European standards, relationship between freight transport and economic growth

 

Haulage, a sector of deep international integration, is among the first industries to receive feedback on international economic growth processes and is thus a key source of projections concerning future economic growth trends. This is particularly true in the case of Hungary, which is a small and open economy. In terms of its density the domestic logistics infrastructure is relatively well-developed by European standards, however, there is some catching up to do in regard to certain quality parameters. A phase of deterioration in the corporate perceptions of the domestic logistical environment in the wake of the economic crisis that broke out in 2008 has been followed in recent years by a trend of improvement, however, in the face of international competition there is a need for additional developments and improvements for Hungary to maintain or, indeed, improve its position in the logistics market and to enable Hungary’s economic policy to accelerate the process of catching up with the developed economies. Improvements in these bottlenecks may contribute to the continuity of economic growth in Hungary.

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