Following a stringent reform program in the 1990s that featured privatisation, liberalisation and strong inducements for foreign investment, Hungary's economy has been marked by rapid export-led economic growth, and rapid foreign direct investment inflows. The privatisation process has been completed in most sectors, bringing foreign strategic investors as well as know-how, technology and best international practice into the country. As one of the founding members of the World Trade Association, Hungary has a history of developing good global trade and economic relationships, with partners from Asia to Russia and the US to the EU.

Hungary, as a full member of the EU since 2004 has met the economic requirements of the accession and brought its legal system in line with the requirements of the EU.