The volume of mutual trade between the Russian Federation and Hungary increased 3.4 times in 2024.

12:32; 19 June 2025 year

In 2024, the volume of trade between Russia and Hungary increased 3.4 times. This was stated by Deputy Prime Minister Alexander Novak at a meeting with Hungarian Minister of Foreign Affairs and Foreign Economic Relations Peter Szijjarto at the SPIEF.

According to Novak, trade between the two countries continued to grow this year. According to the results of the first quarter of 2025, the mutual trade turnover increased by 18%. Hungary took the 13th place among all Russian trade and economic partners and the 2nd place among the EU countries.

In addition, investment cooperation is steadily developing. In 2024, Hungarian investments in Russia increased by more than 30%. In addition to trade, the parties are implementing joint projects in the fields of healthcare and pharmaceuticals, sports, culture, higher education, agriculture, and energy.

During the meeting, the sides discussed the development of bilateral trade and economic relations, including cooperation in the energy and nuclear fields.

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