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Hungary

Headline economic indicators for Hungary, with the most recent official readings.

Prices

Prices — Hungary
Indicator Value Change
Inflation rate · 4.4% +0.71 (+19.1%)
Consumer price index · 192.0 +8.11 (+4.4%)
Inflation rate (monthly) · 2.1% +0.30 (+16.7%)
Harmonised consumer price index · 178.2 +0.21 (+0.1%)
House price index (quarterly) · 405.9 -10.68 (-2.6%)
House price inflation, year on year (quarterly) · 8.4% -12.73 (-60.2%)
Real house price index (quarterly) · 209.2 -6.75 (-3.1%)
Real house price growth, year on year (quarterly) · 6.5% -10.20 (-61.0%)
Producer prices, year on year (monthly) · 6.9% +2.10 (+43.8%)
GDP deflator inflation · 6.3% -1.31 (-17.3%)

GDP

GDP — Hungary
Indicator Value Change
GDP growth rate · 0.5% -0.20 (-28.1%)
GDP per capita · 25,907.47 +2,602 (+11.2%)
GDP growth, quarter on quarter · 0.1% -0.50 (-83.3%)
GDP growth, year on year (quarterly) · 1.5% -0.20 (-11.8%)
Industrial production, year on year (monthly) · 8.8% +4.10 (+87.2%)
Retail sales volume, year on year (monthly) · 2.4% -2.50 (-51.0%)
Economic sentiment indicator (monthly) · 101.0 +1.10 (+1.1%)
Consumer confidence (monthly) · -4.9 -1.50 (-44.1%)
GDP per capita, long-run history · 29,452 +1,366 (+4.9%)
GDP · 246,490,213,513.05 +23,642,002,479 (+10.6%)
GDP, PPP · 474,167,443,640 +10,023,264,465 (+2.2%)
GDP per capita, PPP · 49,838 +1,297 (+2.7%)
GDP per capita growth · 1.0% -0.01 (-1.1%)
GNI per capita · 23,850 +3,050 (+14.7%)
Agriculture to GDP · 2.7% -0.06 (-2.1%)
Industry to GDP · 23.0% -0.81 (-3.4%)
Manufacturing to GDP · 15.1% -0.71 (-4.5%)
Services to GDP · 60.1% +0.62 (+1.0%)
Household consumption to GDP · 52.5% +1.04 (+2.0%)
Gross capital formation to GDP · 22.2% -1.51 (-6.4%)
Gross savings to GDP · 23.8% -1.72 (-6.7%)

Labour

Labour — Hungary
Indicator Value Change
Unemployment rate · 4.5% +0.02 (+0.5%)
Unemployment rate (monthly) · 4.6% -0.10 (-2.1%)
Labour force participation rate · 60.6% -0.08 (-0.1%)
Female labour force participation rate · 54.3% -0.09 (-0.2%)
Youth unemployment rate · 14.2% -0.88 (-5.9%)
Employment to population ratio · 57.8% -0.09 (-0.2%)
Employment in agriculture · 4.1% -0.13 (-3.1%)
Employment in industry · 30.5% -0.28 (-0.9%)
Employment in services · 65.4% +0.41 (+0.6%)

Money

Money — Hungary
Indicator Value Change
Real interest rate · 1.6% +0.20 (+13.9%)
Central bank policy rate · 5.5% -0.25 (-4.3%)
Real effective exchange rate (monthly) · 119.4 -1.06 (-0.9%)
Nominal effective exchange rate (monthly) · 101.9 -0.67 (-0.7%)
Private sector credit to GDP (quarterly) · 89.5% -1.39 (-1.5%)
Credit-to-GDP gap (quarterly) · -8.10 pp -0.85 (-11.8%)
Debt service ratio, private sector (quarterly) · 11.5% -0.30 (-2.5%)
10-year government bond yield (monthly) · 5.7% +0.23 (+4.2%)
Broad money to GDP · 60.0% +0.63 (+1.1%)
Private sector credit to GDP · 32.4% -0.54 (-1.6%)
Lending rate · 8.0% -1.12 (-12.2%)
Bank deposit rate · 5.7% -0.47 (-7.6%)
Stock market capitalization to GDP · 25.4% +6.75 (+36.2%)
Bank nonperforming loans · 2.6% -0.07 (-2.8%)
Official exchange rate · 353.14 -12.55 (-3.4%)

Trade

Trade — Hungary
Indicator Value Change
Current account to GDP · 1.7% -0.19 (-10.2%)
Exports to GDP · 72.6% -3.57 (-4.7%)
Imports to GDP · 68.1% -3.58 (-5.0%)
Trade to GDP · 140.8% -7.15 (-4.8%)
Exports of goods and services · 179,026,907,175.62 +9,221,223,413 (+5.4%)
Imports of goods and services · 167,980,299,597.89 +8,134,053,338 (+5.1%)
Trade balance, goods and services (annual) · 10,976,919,206.86 +986,203,439 (+9.9%)
Current account balance (annual) · 4,079,024,519.63 -26,135,926 (-0.6%)
Foreign direct investment to GDP · -28.4% -0.86 (-3.1%)
Remittances received to GDP · 2.3% -0.17 (-7.0%)
Total reserves, including gold · 59,094,575,606.76 +12,672,218,053 (+27.3%)
Reserves in months of imports · 3.5 +0.67 (+23.7%)

Government

Government — Hungary
Indicator Value Change
Government debt to GDP · 82.0% -0.38 (-0.5%)
Government debt to GDP (quarterly) · 75.6% -2.00 (-2.6%)
Government revenue to GDP · 37.9% -0.27 (-0.7%)
Government expense to GDP · 42.4% +0.15 (+0.4%)
Tax revenue to GDP · 22.7% -0.18 (-0.8%)
Government budget balance to GDP · -4.5% +2.07 (+31.6%)
Government consumption to GDP · 20.8% +0.46 (+2.3%)
Education spending to GDP · 3.8% -0.85 (-18.3%)
Health spending to GDP · 6.4% -0.28 (-4.2%)

Demography

Demography — Hungary
Indicator Value Change
Population · 9,514,251 -47,814 (-0.5%)
Population, long-run history · 9,690 -26.44 (-0.3%)
Population growth · -0.5% -0.19 (-59.4%)
Life expectancy · 76.7 +0.15 (+0.2%)
Fertility rate · 1.41 -0.14 (-9.0%)
Birth rate · 8.2 -0.90 (-9.9%)
Death rate · 13.4 +0.00 (+0.0%)
Urban population share · 70.7% +0.20 (+0.3%)
Population aged 65 and over · 21.2% +0.16 (+0.8%)
Under-five mortality rate · 3.7 -0.10 (-2.6%)
Population density · 104.8 -0.33 (-0.3%)
Net migration · -16,331 -32,554 (-200.7%)
Gini index · 30.6 +0.30 (+1.0%)

Source: Bank for International Settlements (BIS). Translated titles are not official BIS translations.

Source: Bolt, J. and van Zanden, J.L. (2024), Maddison style estimates of the evolution of the world economy: A new 2023 update, Journal of Economic Surveys, 1-41, DOI 10.1111/joes.12618. Licensed under CC BY 4.0. The original sources are listed on each page.

All data sources

Original sources of these estimates

GDP pc: 2008 - 2022: Total Economy Database the Conference Board for all countries included in TED. Otherwise UN national accounts statistics

Hungary

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