cargo-partner is Growing Fast in Hungary

Domonkos Molnar is not suffering from any inferiority complex. The Hungarian national has learnt the forwarding business from A to Z at cargo-partner’s headquarters in Vienna. The knowledge and
experience gained there qualified the multilingual manager (Hungarian, German, English) to take over responsibilities for cargo exports at the Austrian agent’s station near Budapest Airport after
he returned to his home country in 2014.
Mr Molnar’s main statements:
“We opened our first office in Hungary in 1994 with 4 employees. Meanwhile, cargo-partner runs three stations here, with 120-plus employees.”
“For the past 8 years we have been experiencing a perpetual growth of air freight tonnage.”
“Mainly due to cost reasons, an increasing number of Turkish logistics companies truck their consignments to us to have their goods flown out of Budapest rather than utilizing one of the Istanbul
Turning to this year’s performance, cargo-partner’s local chief of freight exports speaks of an impressive volume growth of 40 percent in the last two years. Not only his company, other agents
too, are strongly benefitting from an industrial boom affecting the entire country.
While in the past, imports dominated strongly, exports have nearly closed the gap, shown by statistics presented by Mr Molnar: “During the last couple of months we came close to a 50/50
import-export ratio, both trades growing by the double digits in volume,” he proudly says, indicating a change of paradigm.

Attractive place for foreign investors
The remarkable upswing of exports is triggered by an investment boom. Shown by car makers such as Mercedes, Audi or Volkswagen that poured a lot of money into their Hungarian plants. Similarly,
Huawei and Samsung together with other companies from the Far East have increased their activities in Hungary or started producing goods there as well. Meanwhile, “we are the world’s seventh most
popular investment destination, according to a 2017 market report from the U.S.,” proudly emphasizes Róbert Ésik, president of the Hungarian Investment Promotion Agency (HIPA).