Hungary Nips Feeding Hand
Hungary's inflation is soaring and growth is slowing as tensions with the European Union continue to create political instability.
Hungary GDP and Economic Data
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.
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Central bank
Magyar Nemzeti Bank (Central Bank of Hungary)
International Reserves
USD 43.47 billion (2021)
International Monetary Fund (IMF), data retrieved January 2022
Gross Domestic Product - GDP
USD 180.96 billion (2021 estimate)
IMF - World Economic Outlook, October 2021
Source
GDP (Purchasing Power Parity)
USD 359.90 billion (2021 estimate)
IMF - World Economic Outlook, October 2021
Source
Real GDP growth
| 2017 | 2018 | 2019 | 2020* | 2021* |
| 4.3% | 5.4% | 4.6% | –5.0% | 7.6% |
*Estimate
Source
GDP per capita - current prices
USD 18,527.59 (2021 estimate)
IMF - World Economic Outlook, October 2021
Source
GDP per capita - PPP
USD 36,848.64 (2021 estimate)
IMF - World Economic Outlook, October 2021
Source
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GDP - composition by sector
- agriculture: 3.5%
- industry: 25.2%
- services: 55.8%
(2018 estimate)
Gross domestic expenditure on R&D; (% of GDP)
1.5% (2019)
OECD, retrieved January 2022
Inflation
| 2017 | 2018 | 2019 | 2020* | 2021* |
| 2.4% | 2.8% | 3.4% | 3.3% | 4.5% |
*Estimate
Source
Unemployment rate
| 2017 | 2018 | 2019 | 2020* | 2021* |
| 4.0% | 3.6% | 3.3% | 4.1% | 4.1% |
*Estimate
Source
Public debt (General government gross debt as a % of GDP)
| 2017 | 2018 | 2019 | 2020* | 2021* |
| 72.2% | 69.1% | 65.5% | 80.4% | 76.6% |
*Estimate
Source
Public deficit (General government net lending/borrowing as a % of GDP)
| 2017 | 2018 | 2019 | 2020* | 2021* |
| 0.2% | 0.2% | 0.1% | –5.8% | –4.6% |
*Estimate
Source
Government bond ratings
Standard & Poor's: BBB
Moody's: Baa2
Standard & Poor's / Moody's (January 2022)
Source
Market value of publicly traded shares
Standard & Poor's / Moody's (January 2022)
Source
Current account balance
USD 1.1 billion (2021 estimate)
IMF - World Economic Outlook, October 2021
Source
Current account balance by percentage of GDP
0.6% (2021 estimate)
IMF - World Economic Outlook, October 2021
Source
Exports as percent of GDP (Exports of goods and services)
79.5% (2020)
World Bank - World Development Indicators (updated Feb 2022)
Shares in world total merchandising export
0.68% (2020)
United Nations Conference on Trade and Development (UNCTAD)
Shares in world total commercial services export
0.4% (2020)
Total exports
USD 123.7 billion (2020 estimate)
United Nations Conference on Trade and Development (UNCTAD)
Export commodities
Cars and vehicle parts, packaged medicines, spark-ignition engines, video displays, broadcasting equipment (2019)
CIA World Factbook
Total imports
USD 120.1 billion (2020 estimate)
United Nations Conference on Trade and Development (UNCTAD)
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Import commodities
Cars and vehicle parts, integrated circuits, packaged medicines, broadcasting equipment, crude petroleum (2019)
CIA World Factbook
Exports - major partners
Germany 27%, Romania 5%, Italy 5%, Slovakia 5% (2019)
CIA World Factbook
Imports - major partners
Germany 25%, China 6%, Poland 6%, Austria 6%, Czechia 5%, Slovakia 5%, Italy 5%, Netherlands 5% (2019)
CIA World Factbook
FDI inflows
| 2019 | 2020 | 2021 |
| USD 6.4 billion | USD 3.9 billion | USD 4.2 billion |
FDI outflows
| 2019 | 2020 | 2021 |
| USD 3 billion | USD 2.8 billion | USD 4.3 billion |
Value of cross-border M&A, by country of purchaser
N/A
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:
52 out of 190 countries
Subcategories:
Starting a Business: 87 out of 190 countries
Dealing with Construction Permits: 108 out of 190 countries
Getting Electricity: 125 out of 190 countries
Registering Property: 29 out of 190 countries
Getting Credit: 37 out of 190 countries
Protecting Minority Investors: 97 out of 190 countries
Paying Taxes: 56 out of 190 countries
Trading across Borders: 1 out of 190 countries
Enforcing Contracts: 25 out of 190 countries
Resolving Insolvency: 66 out of 190 countries
World Bank - Doing Business 2020
Source
Global competitiveness ranking
26 out of 141 (2019)
World Economic Forum / Global competitiveness ranking
Index of Economic Freedom
Ranking: 48 / Score: 66.9 (Moderately Free)
The Heritage Foundation - 2022 Index of Economic Freedom
Source
Source
Languages
Hungarian (official) 99.6%, English 16%, German 11.2%, Russian 1.6%, Romanian 1.3%, French 1.2%, other 4.2%; note - shares sum to more than 100% because some respondents gave more than one answer on the census; Hungarian is the mother tongue of 98.9% of Hungarian speakers (2011 est.)
Religions
Roman Catholic 37.2%, Calvinist 11.6%, Lutheran 2.2%, Greek Catholic 1.8%, other 1.9%, none 18.2%, no response 27.2% (2011 est.)
Total population
| 1990 | 2000 | 2010 | 2015 | 2020 |
| 10.4 million | 10.2 million | 10 million | 9.8 million | 9.7 million |
Source
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Urban population as % of total population
| 1960 | 1980 | 2000 | 2020 |
| 55.9% | 64.2% | 64.6% | 71.9% |
Literacy
Total population: 99.1%
Male: 99.1%
Female: 99% (2015) Definition: age 15 and over can read and write
% of population living on less than $3.10 a day
0.7% (last available estimate, 2019)
Inequality of wealth distribution (Gini index)
30.0 (last available estimate, 2019)
Source
Freedom House rating
Total score: 69/100
Status: Partly Free
Political Rights: 26/40
Civil Liberties: 43/60 (2022)
Source
Total telephone subscribers as % of population
Fixed: 30.7%
Mobile: 107.0% (2020) (fixed-telephone subscribers and mobile-cellular subscribers)