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daylight saving time: +1hr, begins last Sunday in March; ends last Sunday in October

Administrative divisions:

19 counties (megyek, singular - megye), 23 urban counties (singular - megyei varos), and 1 capital city (fovaros)

counties: Bacs-Kiskun, Baranya, Bekes, Borsod-Abauj-Zemplen, Csongrad, Fejer, Gyor-Moson-Sopron, Hajdu-Bihar, Heves, Jasz-Nagykun-Szolnok, Komarom-Esztergom, Nograd, Pest, Somogy, Szabolcs-Szatmar-Bereg, Tolna, Vas, Veszprem, Zala

urban counties: Bekescsaba, Debrecen, Dunaujvaros, Eger, Erd, Gyor, Hodmezovasarhely, Kaposvar, Kecskemet, Miskolc, Nagykanizsa, Nyiregyhaza, Pecs, Salgotarjan, Sopron, Szeged, Szekesfehervar, Szekszard, Szolnok, Szombathely, Tatabanya, Veszprem, Zalaegerszeg

capital city: Budapest

Independence:

25 December 1000 (crowning of King STEPHEN I, traditional founding date)

National holiday:

Saint Stephen's Day, 20 August

Constitution:

18 August 1949, effective 20 August 1949; revised 19 April 1972; 18 October 1989 revision ensured legal rights for individuals and constitutional checks on the authority of the prime minister and also established the principle of parliamentary oversight; 1997 amendment streamlined the judicial system

Legal system:

based on the German-Austrian legal system; accepts compulsory ICJ jurisdiction with reservations

Suffrage:

18 years of age; universal

Executive branch:

chief of state: President Laszlo SOLYOM (since 5 August 2005)

head of government: Prime Minister Ferenc GYURCSANY (since 29 September 2004)

cabinet: Council of Ministers prime minister elected by the National Assembly on the recommendation of the president; other ministers proposed by the prime minister and appointed and relieved of their duties by the president

elections: president elected by the National Assembly for a five-year term (eligible for a second term); election last held 6-7 June 2005 (next to be held by June 2010); prime minister elected by the National Assembly on the recommendation of the president; election last held 29 September 2004

election results: Laszlo SOLYOM elected president by a simple majority in the third round of voting, 185 to 182; Ferenc GYURCSANY elected prime minister; result of legislative vote - 197 to 12

note: to be elected, the president must win two-thirds of legislative vote in the first two rounds or a simple majority in the third round

Legislative branch:

unicameral National Assembly or Orszaggyules (386 seats; members are elected by popular vote under a system of proportional and direct representation to serve four-year terms)

elections: last held 9 and 23 April 2006 (next to be held in April 2010)

election results: percent of vote by party (5% or more of the vote required for parliamentary representation in the first round) - MSzP 43.2%, Fidesz-KDNP 42%, SzDSz 6.5%, MDF 5%, other 3.3%; seats by party - MSzP 190, Fidesz-KDNP 164, SzDSz 20, MDF 11, independent 1

Judicial branch:

Constitutional Court (judges are elected by the National Assembly for nine-year terms)

Political parties and leaders:

Alliance of Free Democrats or SzDSz [Janos KOKA]; Christian Democratic People's Party or KDNP [Zsolt SEMJEN]; Hungarian Civic Alliance or Fidesz [Viktor ORBAN, chairman]; Hungarian Democratic Forum or MDF [Ibolya DAVID]; Hungarian Socialist Party or MSzP [Ferenc GYURCSANY]

Political pressure groups and leaders:

NA

International organization participation:

Australia Group, BIS, CE, CEI, CERN, EAPC, EBRD, EIB, ESA (cooperating state), EU, FAO, G-9, IAEA, IBRD, ICAO, ICC, ICCt, ICRM, IDA, IEA, IFC, IFRCS, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC, MIGA, MINURSO, NAM (guest), NATO, NEA, NSG, OAS (observer), OECD, OIF (observer), OPCW, OSCE, PCA, Schengen Convention, SECI, UN, UNCTAD, UNESCO, UNFICYP, UNHCR, UNIDO, UNOMIG, UNWTO, UPU, WCL, WCO, WEU (associate), WFTU, WHO, WIPO, WMO, WTO, ZC

Diplomatic representation in the US:

chief of mission: Ambassador Ferenc SOMOGYI

chancery: 3910 Shoemaker Street NW, Washington, DC 20008

telephone: [1] (202) 362-6730

FAX: [1] (202) 966-8135

consulate(s) general: Chicago, Los Angeles, New York

Diplomatic representation from the US:

chief of mission: Ambassador April H. FOLEY

embassy: Szabadsag ter 12, H-1054 Budapest

mailing address: pouch: American Embassy Budapest, 5270 Budapest Place, US Department of State, Washington, DC 20521-5270

telephone: [36] (1) 475-4400

FAX: [36] (1) 475-4764

Flag description:

three equal horizontal bands of red (top), white, and green

Economy Hungary

Economy - overview:

Hungary has made the transition from a centrally planned to a market economy, with a per capita income nearly two-thirds that of the EU-25 average. The private sector accounts for more than 80% of GDP. Foreign ownership of and investment in Hungarian firms are widespread, with cumulative foreign direct investment totaling more than $60 billion since 1989. Hungary issues investment-grade sovereign debt. International observers, however, have expressed concerns over Hungary's fiscal and current account deficits. In 2007, Hungary eliminated a trade deficit that had persisted for several years. Inflation declined from 14% in 1998 to a low of 3.7% in 2006, but jumped to 7.8% in 2007. Unemployment has persisted above 6%. Hungary's labor force participation rate of 57% is one of the lowest in the Organization for Economic Cooperation and Development (OECD). Germany is by far Hungary's largest economic partner. Policy challenges include cutting the public sector deficit to 4% of GDP by 2008, from about 6% in 2007. The government's austerity program of tax hikes and subsidy cuts has reduced Hungary's large budget deficit, but the reforms have dampened domestic consumption, slowing GDP growth to about 2% in 2007. The government will need to pass additional reforms to ensure the long-term stability of public finances. The government plans to eventually lower its public sector deficit to below 3% of GDP to adopt the euro.

GDP (purchasing power parity):

$191.3 billion (2007 est.)

GDP (official exchange rate):

$138.4 billion (2007 est.)

GDP - real growth rate:

1.3% (2007 est.)

GDP - per capita (PPP):

$19,000 (2007 est.)

GDP - composition by sector:

agriculture: 2.8%

industry: 31.5%

services: 65.7% (2007 est.)

Labor force:

4.19 million (2007 est.)

Labor force - by occupation:

agriculture: 5.5%

industry: 33.3%

services: 61.2% (2003)

Unemployment rate:

7.3% (2007 est.)

Population below poverty line:

8.6% (1993 est.)

Household income or consumption by percentage share:

lowest 10%: 4%

highest 10%: 22.2% (2002)

Distribution of family income - Gini index:

28 (2005)

Inflation rate (consumer prices):

7.9% (2007 est.)

Investment (gross fixed):

20.9% of GDP (2007 est.)

Budget:

revenues: $63.97 billion

expenditures: $71.69 billion (2007 est.)

Public debt:

67% of GDP (2007 est.)

Agriculture - products:

wheat, corn, sunflower seed, potatoes, sugar beets; pigs, cattle, poultry, dairy products

Industries:

mining, metallurgy, construction materials, processed foods, textiles, chemicals (especially pharmaceuticals), motor vehicles

Industrial production growth rate:

3.4% (2007 est.)

Electricity - production:

33.69 billion kWh (2005)

Electricity - production by source:

fossil fuel: 60.1%

hydro: 0.5%

nuclear: 39%

other: 0.3% (2001)

Electricity - consumption:

35.98 billion kWh (2005)

Electricity - exports:

9.41 billion kWh (2005)

Electricity - imports:

15.64 billion kWh (2005)

Oil - production:

42,180 bbl/day (2005 est.)

Oil - consumption:

152,200 bbl/day (2005 est.)

Oil - exports:

58,380 bbl/day (2004)

Oil - imports:

150,000 bbl/day (2004)

Oil - proved reserves:

102.5 million bbl (1 January 2006 est.)

Natural gas - production:

2.904 billion cu m (2005 est.)

Natural gas - consumption:

14.37 billion cu m (2005 est.)

Natural gas - exports:

0 cu m (2005 est.)

Natural gas - imports:

11.51 billion cu m (2005)

Natural gas - proved reserves:

32.86 billion cu m (1 January 2006 est.)

Current account balance:

-$7.75 billion (2007 est.)

Exports:

$88.77 billion f.o.b. (2007 est.)

Exports - commodities:

machinery and equipment 61.1%, other manufactures 28.7%, food products 6.5%, raw materials 2%, fuels and electricity 1.6% (2003)

Exports - partners:

Germany 29.2%, Italy 5.6%, France 4.9%, Austria 4.9%, UK 4.4%, Romania 4.1%, Poland 4% (2006)

Imports:

$87.88 billion f.o.b. (2007 est.)

Imports - commodities:

machinery and equipment 51.6%, other manufactures 35.7%, fuels and electricity 7.7%, food products 3.1%, raw materials 2.0% (2003)

Imports - partners:

Germany 27%, Russia 8.2%, China 6.9%, Austria 6.2%, France 4.7%, Italy 4.6%, Netherlands 4.3%, Poland 4.2% (2006)

Economic aid - recipient:

$302.6 million (2004)

Reserves of foreign exchange and gold:

$24.05 billion (31 December 2007 est.)

Debt - external:

$125.9 billion (31 December 2007)

Stock of direct foreign investment - at home:

$108.6 billion (2007 est.)

Stock of direct foreign investment - abroad:

$45.54 billion (2007 est.)

Market value of publicly traded shares:

$41.93 billion (2006)

Currency (code):

forint (HUF)

Currency code:

HUF

Exchange rates:

forints per US dollar - 186.16 (2007), 210.39 (2006), 199.58 (2005), 202.75 (2004), 224.31 (2003)

Fiscal year:

calendar year

Communications Hungary

Telephones - main lines in use:

3.35 million (2006)

Telephones - mobile cellular:

9.965 million (2006)

Telephone system:

general assessment: the telephone system has been modernized and is capable of satisfying all requests for telecommunication service

domestic: the system is digitalized and highly automated; trunk services are carried by fiber-optic cable and digital microwave radio relay; a program for fiber-optic subscriber connections was initiated in 1996; competition among mobile-cellular service providers has led to a sharp increase in the use of mobile cellular phones since 2000 and a decrease in the number of fixed-line connections

international: country code - 36; Hungary has fiber-optic cable connections with all neighboring countries; the international switch is in Budapest; satellite earth stations - 2 Intelsat (Atlantic Ocean and Indian Ocean regions), 1 Inmarsat, 1 very small aperture terminal (VSAT) system of ground terminals

Radio broadcast stations:

AM 17, FM 57, shortwave 3 (1998)

Radios:

7.01 million (1997)

Television broadcast stations:

35 (plus 161 repeaters) (1995)

Televisions:

4.42 million (1997)

Internet country code:

.hu

Internet hosts:

2.313 million (2007)

Internet Service Providers (ISPs):

16 (2000)

Internet users:

3.5 million (2006)

Transportation Hungary

Airports:

46 (2007)

Airports - with paved runways:

total: 20

over 3,047 m: 2

2,438 to 3,047 m: 8

1,524 to 2,437 m: 4

914 to 1,523 m: 4

under 914 m: 2 (2007)

Airports - with unpaved runways:

total: 26

2,438 to 3,047 m: 2

1,524 to 2,437 m: 3

914 to 1,523 m: 11

under 914 m: 10 (2007)

Heliports:

5 (2007)

Pipelines:

gas 4,397 km; oil 990 km; refined products 335 km (2007)

Railways:

total: 8,057 km

broad gauge: 36 km 1.524-m gauge

standard gauge: 7,802 km 1.435-m gauge (2,628 km electrified)

narrow gauge: 219 km 0.760-m gauge (2006)

Roadways:

total: 159,568 km

paved: 70,050 km (30,874 km of interurban roads including 626 km of expressways)

unpaved: 89,518 km (2005)

Waterways:

1,622 km (most on Danube River) (2007)

Ports and terminals:

Budapest, Dunaujvaros, Gyor-Gonyu, Csepel, Baja, Mohacs (2003)

Military Hungary

Military branches:

Ground Forces, Hungarian Air Force (Magyar Legiero, ML) (2008)

Military service age and obligation:

18 years of age for voluntary military service; conscription abolished in June 2004; 6-month service obligation, with reserve obligation to age 50 (2006)

Manpower available for military service:

males age 16-49: 2,391,400

females age 16-49: 2,337,240 (2008 est.)

Manpower fit for military service:

males age 16-49: 1,890,105

females age 16-49: 1,943,422 (2008 est.)

Manpower reaching militarily significant age annually:

males age 16-49: 62,197

females age 16-49: 59,267 (2008 est.)

Military expenditures - percent of GDP:

1.75% (2005 est.)

Transnational Issues Hungary

Disputes - international:

bilateral government, legal, technical and economic working group negotiations continue in 2006 with Slovakia over Hungary's failure to complete its portion of the Gabcikovo-Nagymaros hydroelectric dam project along the Danube; as a member state that forms part of the EU's external border, Hungary has implemented the strict Schengen border rules

Illicit drugs:

transshipment point for Southwest Asian heroin and cannabis and for South American cocaine destined for Western Europe; limited producer of precursor chemicals, particularly for amphetamine and methamphetamine; efforts to counter money laundering, related to organized crime and drug trafficking, are improving, but remain vulnerable; significant consumer of ecstasy

This page was last updated on 15 July, 2008

The World Factbook

Iceland

Introduction Iceland

Background:

Settled by Norwegian and Celtic (Scottish and Irish) immigrants during the late 9th and 10th centuries A.D., Iceland boasts the world's oldest functioning legislative assembly, the Althing, established in 930. Independent for over 300 years, Iceland was subsequently ruled by Norway and Denmark. Fallout from the Askja volcano of 1875 devastated the Icelandic economy and caused widespread famine. Over the next quarter century, 20% of the island's population emigrated, mostly to Canada and the US. Limited home rule from Denmark was granted in 1874 and complete independence attained in 1944. Literacy, longevity, income, and social cohesion are first-rate by world standards.

Geography Iceland

Location:

Northern Europe, island between the Greenland Sea and the North Atlantic Ocean, northwest of the UK

Geographic coordinates:

65 00 N, 18 00 W

Map references:

Arctic Region

Area:

total: 103,000 sq km

land: 100,250 sq km