Foreign-owned Companies Generate Over Half of E-tail Turnover
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Foreign-owned companies accounted for around 55% of retail online and mail-order turnover in Hungary last year, data from the Central Statistical Office (KSH) show.
The some 300 foreign-owned companies, a fraction of the close to 5,700 webshops and mail-order businesses operating in Hungary, generated turnover of HUF 810 bln from total sales of HUF 1.5 tln.
KSH noted that 155 of those companies had no base in Hungary but still brought in over HUF 164 bln from local sales.
Turnover of foreign-owned online and mail-order businesses averaged HUF 2.7 bln, while revenue of their Hungarian-owned peers averaged just HUF 125 mln.
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