Empirical study of Hungary's foreign trade: smart investment in innovation and transport infrastructure
The integration of countries into world economic relations serves as evidence of the economy's competitiveness. Like many other countries of the world, since the beginning of the 20th century Hungary has been going through difficult periods of adaptation to market conditions, the negative impact of the global crisis and the pandemic. However, the openness of the economy and the strong export potential formed over the past years allows the country to recover fairly quickly. At the same time, the issue of the key factors of the country's export potential at present remains insufficiently studied. On the example of Hungary, the article presents an analysis of the volume and structural parameters of foreign trade for the period since 1999. The forecast for the coming years has been given. With the help of regression analysis, the key factors contributing to improving the competitiveness of the country on the basis of the most complete use of export potential are identified. It is shown that it is legitimate for Hungary to predict further steady export growth and a decrease in imports, since the country is successfully developing key factors of the region's export potential, primarily the transport and logistics system, human capital in the medium and high-tech sector, the knowledge-intensive service vector, investments in research and development, and e-commerce.