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In 2023, MOL Nyrt., the Hungarian oil and gas company, was the largest enterprise in the country with a revenue of nearly trillion forints. The power company MVM Zrt. ranked second with a revenue of over trillion forints recorded over the same period. 

An increasing number of businesses undergo liquidation proceedings

The number of businesses operating in Hungary increased year-over-year until 2021, when figures peaked at nearly *** million. However, the number of active enterprises in the country decreased over the following years. One of the reasons behind the decline in enterprise numbers is the high number of liquidation and insolvency procedures launched against Hungarian companies. In 2023, nearly *businesses were under insolvency or liquidation proceedings, the highest number recorded over the past years.

Foreign companies play an important role in Hungary

 The majority of companies with foreign ownership were associated with Ukraine in 2022, their number totaling nearly . During the same year, a further German enterprises operated in the country, and another enterprises had Austrian roots. When it comes to the sectors attracting the highest share of foreign businesses, the manufacturing sector ranked first, followed by financial and insurance activities.