Largest companies in Hungary 2022, by revenue

In 2022, MOL Nyrt, the Hungarian oil and gas company was the largest enterprise in the country with a revenue of nearly six trillion forints. The power company MVM Zrt. ranked second with a revenue of 7.6 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 1.9 million. However, the number of active enterprises in the country decreased in the following year. One of the reasons behind the decline in enterprise numbers is the high amount of liquidation procedures launched against Hungarian companies over the year. Furthermore, the government introduced changes to the fixed-rate tax on low-tax-bracket enterprises, which led to the closure of a significant amount of small businesses.

Foreign companies play an important role in Hungary

 The majority of companies with foreign ownership were associated with Ukraine in 2021, their number totaling over four thousand. During the same year, a further four thousand German enterprises operated in the country, and another 3.8 thousand enterprises had Austrian roots. When it comes to the sectors attracting the highest number of foreign businesses, the wholesale and retail trade sector ranked first, followed by real estate activities.