Hungarian Rhapsody
A controversial populist regime hasn’t stopped Hungary from outperforming its EU neighbors. But much depends on other EU economies and keeping inflation under control.
Hungary GDP and Economic Data
Country Report 2017 - Includes Hungary real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector.
Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Hungary economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of Hungary best banks and safest banks are also available.
Advertisement
Source
Central bank
Magyar Nemzeti Bank (Central Bank of Hungary)
International Reserves
USD 25.8 billion (2016)
International Monetary Fund (IMF), data retrieved January 2017
Gross Domestic Product - GDP
USD 118.0 billion (2017, estimate)
GDP (Purchasing Power Parity)
Intl$ 280.1 billion (2017, estimate)
Real GDP growth
| 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 |
| 3.8% | 0.4% | 0.8% | -6.6% | 0.7% | 1.8% | -1.7% |
| 2013 | 2014 | 2015 | 2016* | 2017* | ||
| 1.9% | 3.7% | 2.9% | 2% | 2.5% |
*Estimate
GDP per capita - current prices
USD 12,022.8 (2017, estimate)
GDP (PPP) - share of world total
| 1980 | 1990 | 2000 | 2010 | 2017* |
| 0.53% | 0.43% | 0.30% | 0.25% | 0.2% |
*Forecast
Advertisement
Source
GDP - composition by sector
- agriculture: 3.5%
- industry: 31.8%
- services: 64.7%
(2016 estimate)
Gross domestic expenditure on R&D; (% of GDP)
1.4% (2014)
OECD, data retrieved January 2017
Inflation
| 2013 | 2014 | 2015 | 2016* | 2017* |
| 1.7% | -0.2% | -0.1% | 0.4% | 1.9% |
*Estimate
Unemployment rate
| 2013 | 2014 | 2015 | 2016* | 2017* |
| 10.2% | 7.8% | 6.8% | 6.0% | 5.8% |
*Estimate
Public debt (General government gross debt as a % of GDP)
| 2013 | 2014 | 2015 | 2016* | 2017* |
| 76.8% | 76.2% | 75.3% | 75.3% | 75.1% |
*Estimate
Public deficit (General government net lending/borrowing as a % of GDP)
| 2013 | 2014 | 2015 | 2016* | 2017* |
| -2.5% | -2.3% | -2% | -2% | -2.7% |
*Estimate
Government bond ratings
Standard & Poor's: BBB-
Moody's: Baa3
Standard & Poor's / Moody's (Updated January 2017)
Source
Market value of publicly traded shares
| 2013 | 2014 | 2015 |
| USD 19.8 billion | USD 14.5 billion | USD 17.7 billion |
Source
Current account balance by percentage of GDP
4.6% (2017 estimate)
Exports as percent of GDP (Exports of goods and services)
90.7% (2015)
Shares in world total merchandising export
0.6% (2015)
Shares in world total commercial services export
0.5% (2015)
Export commodities
Machinery and equipment 53.5%, other manufactures 31.2%, food products 8.7%, raw materials 3.4%, fuels and electricity 3.9% (2012 estimate)
Advertisement
Source
Import commodities
Machinery and equipment 45.4%, other manufactures 34.3%, fuels and electricity 12.6%, food products 5.3%, raw materials 2.5% (2012)
Exports - major partners
Germany 28%, Romania 5.4%, Slovakia 5.1%, Austria 5%, Italy 4.8%, France 4.7%, UK 4%, Czech Republic 4% (2015)
Imports - major partners
Germany 25.8%, China 6.7%, Austria 6.6%, Poland 5.5%, Slovakia 5.3%, France 5%, Czech Republic 4.8%, Netherlands 4.6%, Italy 4.5% (2015)
FDI inflows
| 2013 | 2014 | 2015 |
| USD 3,404 million | USD 7,490 million | USD 1,270 million |
FDI outflows
| 2013 | 2014 | 2015 |
| USD 1,869 million | USD 3,521 million | USD 1,533 million |
Value of cross-border M&A, by country of purchaser
| 2012 | 2013 | 2014 | 2015 |
| USD -6.7 million | N/A | USD -30.7 million | USD 38.0 million |
Cross-border M&A deals worth over $3 billion completed in 2014
N/A
Cross-border M&A deals worth over $3 billion completed in 2015
N/A
Best countries for doing business
Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm.
Overall ranking: 41 out of 190 countries (2017)
Subcategories:
Starting a business: 75 out of 190 countries
Enforcing Contracts: 8 out of 190 countries
Registering Property: 28 out of 190 countries
Getting Credit: 20 out of 190 countries
Protecting Minority Investors: 81 out of 190 countries
Trading Across Borders: 1 out of 190 countries
Paying Taxes: 77 out of 190 countries
Dealing with Construction Permits: 69 out of 190 countries
Getting Electricity: 121 out of 190 countries
Resolving Insolvency: 63 out of 190 countries
Source
Global competitiveness ranking
69 out of 138 countries
(2016-2017)
Index of Economic Freedom
Ranking: 58 / Score: 66.01 (Moderately free) (2016)
(100=totally free 0=totally repressed)
Source
Source
Languages
Hungarian (official) 99.6%, English 16%, German 11.2%, Russian 1.6%, Romanian 1.3%, French 1.2%, other 4.2%
(2011 est.)
Religions
Roman Catholic 37.2%, Calvinist 11.6%, Lutheran 2.2%, Greek Catholic 1.8%, other 1.9%, none 18.2%, unspecified 27.2% (2011 est.)
Total population
| 1990 | 2000 | 2010 | 2016* | 2021* |
| 10.375 million | 10.222 million | 10.014 million | 9.835 million | 9.731 million |
*Estimate
Advertisement
Source
Urban population as % of total population
| 1960 | 1980 | 2000 | 2015 |
| 56% | 64% | 65% | 71% |
Literacy
Total population: 99.1%
Male: 99.1%
Female: 99% (2015 est.)
(age 15 and over can read and write)
% of population living on less than $3.10 a day
0.3% (2012)
Inequality of wealth distribution (Gini index)
30.6 (2012)
(0=perfect equality, 100=absolute inequality)
Source
Freedom House rating
Political Rights: 3
Civil Liberties: 2 (2017)
(1 represents the most free, 7 the least free rating)
Source
Total telephone subscribers as % of population
Fixed 31.22% Mobile 118.91% (2015)
(fixed-telephone subscribers and mobile-cellular subscribers)