Location: Central Europe, northwest of Romania
Land Area: 93,030 sq km ( 35,919 sq. miles)
Coastline: 0 km (Landlocked)
Highest Point: Kekes 1,014m (3,326 ft)
Lowest Point: Tisza River 78 m (256 ft)
Notable Landmarks: Take a peek...

Hungary has made the transition from a centrally planned to a market economy with a per capita income half that of the Big Four European nations. Hungary continues to demonstrate strong economic growth and joined the European Union in May of 2004. The private sector accounts for over 80 percent of the Gross Domestic Product. Foreign ownership of and investment in Hungarian firms are widespread, with cumulative foreign direct investment totaling more than $23 billion since 1989. Hungarian sovereign debt was upgraded in 2000 to second-highest rating among all the Central European transition economies. Inflation has declined substantially, from 14 percent in 1998 to 4.7 percent in 2003. Unemployment has stayed at about the six percent level. Germany is, by far, Hungary's largest economic partner. Short-term issues include the reduction of the public sector deficit and further increasing the flexibility of the labor markets.

Gross Domestic Product (GDP): $163.1 billion (2005 est.)
GDP Per Capita: $16,300 (2005 est.)
Number of Workers: 4.18 million (2005 est.)
Unemployment Rate: 7.2% (2005 est.)
Industries: Mining, metallurgy, construction materials, processed foods, textiles, chemicals (especially pharmaceuticals) and motor vehicles.
Currency: forint What does it look like?

Type of Government: Parliamentary democracy
Head of State: Laszlo SOLYOM (since 5 August 2005)
Head of Government: Prime Minister Ferenc GYURCSANY (since 29 September 2004)
Capital City: Budapest
Legal Age to Vote: 18, universal
Flag Design: three equal horizontal bands of red (top), white and green.
Official Language: Hungarian 93.6%, other or unspecified 6.4% (2001 census).
Religions: Roman Catholic 51.9%, Calvinist 15.9%, Lutheran 3%, Greek Catholic 2.6%, other Chrisitan 1%, other or unspecified 11.1%, unaffiliated 14.5% (2001 census).

Hungary was part of the polyglot Austro-Hungarian Empire, which collapsed during World War I. The country fell under Communist rule following World War II. In 1956, a revolt and announced withdrawal from the Warsaw Pact were met with massive military intervention by Moscow. Under the leadership of Janos Kadar in 1968, Hungary began liberalizing its economy introducing so-called "goulash Communism." Hungary held its first multi-party elections in 1990 and initiated a free market economy. It joined NATO in 1999 and the EU in 2004.