Manufacturing (automobiles, electronics, pharmaceuticals, food) accounts for roughly 24–25%; public sector (administration, education, healthcare) 15–17%; trade and repair services 10–11%; real estate 9–10%; ICT/software 6–8%; professional and technical services 6–7%; construction ~4–5%; finance and insurance ~4%; agriculture ~3–4%.
POLITICAL RELATIONS
Diplomatic Relations
1950
Mongolia and Hungary established diplomatic relations on 28 April 1950.
1957
Both countries mutually opened their embassies in 1957.
2020
Ambassador Borbála Obrusánszky presented her credentials to President Kh.Battulga of Mongolia on 16 December 2020.
2026
Ambassador N.Enkhtaivan presented his credentials to President Tamás Sulyok of Hungary on 30 April 2026.
Level of Relations
Friendly relations and cooperation
Key Mutual Visits
From Mongolia
1957
Yumjaagiin Tsedenbal, Chairman of the Council of Ministers of the Mongolian People`s Republic
1969
Jamsrangiin Sambuu, Chairman of the Presidium of the People`s Great Khural of the Mongolian People`s Republic
1974
Yumjaagiin Tsedenbal, Chairman of the Council of Ministers of the Mongolian People`s Republic
1975
Luvsangiin Rinchin, Minister of Foreign Affairs
1978
Mangalyn Dügersüren, Minister of Foreign Affairs
1987
Jambyn Batmönkh, Chairman of the Presidium of the People`s Great Khural of the Mongolian People`s Republic
1991
Radnaasümbereliin Gonchigdorj, Chairman of the State Great Khural
1995
Punsalmaagiin Ochirbat, President of Mongolia
1998
Mendsaikhany Enkhsaikhan, Prime Minister of Mongolia
1999
Radnaasümbereliin Gonchigdorj, Chairman of the State Great Khural
2005
Natsagiin Bagabandi, President of Mongolia
2007
Danzangiin Lundeejantsan, Chairman of the State Great Khural
2010
Sükhbaataryn Batbold, Prime Minister of Mongolia
2014
Tsakhiagiin Elbegdorj, President of Mongolia
2024
Gombojavyn Zandanshatar, Chairman of the State Great Khural
2025
Battsetseg Batmunkh, Minister of Foreign Affairs
From Hungary
1959
Ferenc Münnich, Chairman of the Council of Ministers of the Hungarian People`s Republic
1965
János Kádár, First Secretary of the Hungarian Socialist Workers` Party
1970
Pál Losonczi, Chairman of the Presidential Council of the Hungarian People`s Republic
1974
Jenő Fock, Chairman of the Council of Ministers
1994
Árpád Göncz, President of Hungary
2006
Katalin Szili, Speaker of the National Assembly
2015
János Áder, President of Hungary
2015
Péter Szijjártó, Minister of Foreign Affairs and Trade
2016
Péter Szijjártó, Minister of Foreign Affairs and Trade
2016
Viktor Orbán, Prime Minister of Hungary
2019
Péter Szijjártó, Minister of Foreign Affairs and Trade
2021
Péter Szijjártó, Minister of Foreign Affairs and Trade
2023
László Kövér, Speaker of the National Assembly
2024
Sándor Lezsák, Deputy Speaker of the National Assembly
2026
Lajos Oláh, Deputy Speaker of the National Assembly and Deputy Chairman of the Hungary–Mongolia Parliamentary Friendship Group
Bilateral Cooperation Mechanisms
01
Mongolia-Hungary Parliamentary Friendship Group in the State Great Khural (since 2024, chaired by N.Batsumberel, with deputy chairs M.Gankhulug and D.Regdel, and members Kh.Baasanjargal, B.Naidalaa, U.Otgonbayar, R.Seddorj).
02
Mongolian-Hungarian Intergovernmental Commission on Trade, Economic, Scientific and Technical Cooperation (7th session held online in 2022).
03
Consular Consultations between the Ministries of Foreign Affairs of Mongolia and Hungary (first meeting held in Budapest in 2022).
HUNGARY
Territory
93,028 km² (borders Austria, Slovakia, Ukraine, Romania, Serbia, Croatia, and Slovenia)
Population
9.5 million (2025)
National holiday
August 20 (St. Stephen's Day)
Religion
Per the 2022 census: 30% Catholic, 9.8% Calvinist, 1.8% Lutheran, 2% other religions, 16.3% non-religious; 40.1% declined to answer.
Capital
Budapest
Administrative divisions
19 counties and 23 cities with county rights
Political system
Parliamentary republic
President
Ágnes Forsthoffer, acting head of state
Prime Minister
Péter Magyar
Speaker of Parliament
Ágnes Forsthoffer, President of the National Assembly
Legislature
Unicameral, 199 members; parliamentary elections held on 12 April 2026
Major political parties
Respect and Freedom Party (Tisza) — 141 seats; Alliance of Young Democrats (Fidesz) — 44 seats; Christian Democratic People's Party (KDNP) — 8 seats; Our Homeland Movement (Mi Hazánk) — 6 seats
Foreign Minister
Anita Orbán (2026)
Economic Indicators
GDP (PPP)
US$482.25 billion
Real GDP growth
0.8% Q1 2026; 1.7% growth year-on-year
GDP per capita (PPP)
US$50,570 (2024)
Average salary
US$2,120 (2026)
Inflation rate
1.7% (June 2026)
Currency
Hungarian forint
Employment
4.646 million employed; employment rate 75.0% (male 79.1%, female 70.7%); unemployment rate 4.4%
Natural resources
Relatively limited mineral resources, with moderate reserves of non-metallic minerals such as quartz
Foreign debt
US$313.6 billion (Q1 2026)
Key Economic Sectors
Foreign Trade
Exports
US$160.0 billion. Main export goods: electrical and electronic equipment (batteries, controllers), automobiles and auto parts, machinery (nuclear reactors, boilers, etc.), pharmaceutical products, plastics, petroleum and petroleum products, optical/photographic/technical/medical instruments. Main export partners: Germany (25–27%), Romania, Slovakia, Italy, Austria, Poland, USA (approximately 4–5%).
Imports
US$172.5 billion. Main import goods: electrical and electronic equipment and parts, machinery, automobiles and auto parts, petroleum and natural gas, pharmaceutical products, plastics. Main import partners: Germany (leading partner, 24–26%), China, Austria, Poland, Slovakia, Italy.