Markets Actual Q4 Q1 Q2 Q3 2021
Currency 308.95 311 313 314 316 320
Stock Market (points) 33012.62 32935 32231 31542 30865 29512
Government Bond 10Y (%) 2.40 2.47 2.57 2.67 2.77 2.98

Overview Actual Q4 Q1 Q2 Q3 2021
GDP Growth Rate (%) -14.50 2.8 2.6 2 1.6 1.3
GDP Annual Growth Rate (%) -13.60 -8.5 -5.2 12.1 10 7.8
Unemployment Rate (%) 4.60 6.5 7.3 6.7 6.7 5.8
Inflation Rate (%) 3.40 3.3 2.5 3.4 2.6 2.4
Inflation Rate Mom (%) -0.40 0.2 0.2 -0.1 -0.1 0.3
Interest Rate (%) 0.60 0.6 0.6 0.6 0.6 1
Balance of Trade (HUF Million) 86905.16 90000 90000 120000 170000 110000
Current Account (EUR Million) -847.20 -500 40 1100 1100 -100
Current Account to GDP (%) -0.80 1.1 1.4 1.4 1.4 1.4
Government Debt to GDP (%) 66.30 76.5 74 74 74 74
Government Budget (% of GDP) -2.00 -5.8 -4.4 -4.4 -4.4 -4.4
Business Confidence (points) -15.10 -14 -9 -7 -9 -12
Consumer Confidence (points) -31.10 -35 -27 -14 -17 -20
Retail Sales MoM (%) 1.50 0.3 0.9 0.7 0.7 0.5
Corporate Tax Rate (%) 9.00 9 9 9 9 9
Personal Income Tax Rate (%) 15.00 15 15 15 15 15

GDP Actual Q4 Q1 Q2 Q3 2021
GDP Growth Rate (%) -14.50 2.8 2.6 2 1.6 1.3
GDP Annual Growth Rate (%) -13.60 -8.5 -5.2 12.1 10 7.8
GDP (USD Billion) 160.97 139 148 148 148 148
GDP Constant Prices (HUF Million) 8758734.00 7903200 10013764 8981055 9818541 8140296
Gross Fixed Capital Formation (HUF Million) 2373029.00 2011282 2540540 2609018 2660166 2071620
GDP per capita (USD) 17466.00 16200 17100 17100 17100 17100
GDP per capita PPP (USD) 32622.90 30700 32800 32800 32800 32800
GDP From Agriculture (HUF Million) 353422.00 230090 337854 341627 396186 236992
GDP From Construction (HUF Million) 391948.00 328749 416814 450522 439374 338611
GDP From Manufacturing (HUF Million) 1533263.00 1437979 1791706 1862723 1718788 1481118
GDP From Public Administration (HUF Million) 1074972.00 1049429 1123289 1158987 1205044 1080911
GDP From Services (HUF Million) 4886551.00 4232619 5192880 5349793 5477824 4359597
GDP From Transport (HUF Million) 420928.00 342111 518382 533789 471860 352374

Labour Actual Q4 Q1 Q2 Q3 2021
Unemployment Rate (%) 4.60 6.5 7.3 6.7 6.7 5.8
Youth Unemployment Rate (%) 14.10 15.1 15.9 15.3 15.3 14.4
Labour Costs (points) 151.50 139 153 163 163 150
Wages (HUF/Month) 401847.00 438086 430415 453795 432387 473133
Wage Growth (%) 10.80 7.8 7.5 7.6 7.6 8
Minimum Wages (EUR/Month) 451.51 500 550 550 550 550
Population (Million) 9.77 9.74 9.72 9.72 9.72 9.72
Retirement Age Women 64.00 64.5 64.5 64.5 64.5 64.5
Retirement Age Men 64.00 64.5 64.5 64.5 64.5 64.5

Prices Actual Q4 Q1 Q2 Q3 2021
Inflation Rate (%) 3.40 3.3 2.5 3.4 2.6 2.4
Inflation Rate Mom (%) -0.40 0.2 0.2 -0.1 -0.1 0.3
Harmonised Consumer Prices (points) 113.70 113 115 115 117 117
Consumer Price Index CPI (points) 1363.40 1362 1375 1384 1401 1402
Core Consumer Prices (points) 465.30 467 474 476 482 481
Core Inflation Rate (%) 4.00 3.4 3.4 3.4 3.4 3
Producer Prices (points) 103.60 103 103 103 103 103
Producer Prices Change (%) 3.60 2.9 2.8 2.8 2.8 2.7
CPI Transportation (points) 100.10 102 102 102 102 102
Food Inflation (%) 7.30 4.5 4.5 4.5 4.5 3.6

Money Actual Q4 Q1 Q2 Q3 2021
Interest Rate (%) 0.60 0.6 0.6 0.6 0.6 1
Interbank Rate (%) 0.77 0.28 0.64 0.64 0.64 0.53
Deposit Interest Rate (%) -0.05 -0.05 -0.05 -0.05 -0.05 0.3
Private Debt to GDP (%) 133.37 125 125 125 125 119

Trade Actual Q4 Q1 Q2 Q3 2021
Balance of Trade (HUF Million) 86905.16 90000 90000 120000 170000 110000
Current Account (EUR Million) -847.20 -500 40 1100 1100 -100
Current Account to GDP (%) -0.80 1.1 1.4 1.4 1.4 1.4
Imports (HUF Million) 2666887.85 2440000 2950000 2670000 2670000 2530000
Exports (HUF Million) 2753793.00 2485000 3070000 2840000 2840000 2640000

Government Actual Q4 Q1 Q2 Q3 2021
Government Debt to GDP (%) 66.30 76.5 74 74 74 74
Government Budget (% of GDP) -2.00 -5.8 -4.4 -4.4 -4.4 -4.4
Government Budget Value (HUF Billion) -9.00 160 160 160 160 220
Government Spending (HUF Million) 958620.00 795729 944977 812221 1074613 819601
Government Spending to GDP (%) 46.10 50.7 48 48 48 48

Taxes Actual Q4 Q1 Q2 Q3 2021
Corporate Tax Rate (%) 9.00 9 9 9 9 9
Personal Income Tax Rate (%) 15.00 15 15 15 15 15
Sales Tax Rate (%) 27.00 27 27 27 27 27
Social Security Rate (%) 39.50 42 39.5 39.5 39.5 42
Social Security Rate For Companies (%) 21.00 23.5 21 21 21 23.5
Social Security Rate For Employees (%) 18.50 18.5 18.5 18.5 18.5 18.5

Business Actual Q4 Q1 Q2 Q3 2021
Business Confidence (points) -15.10 -14 -9 -7 -9 -12
Industrial Production (%) -2.10 -3.5 6.2 9.8 7.2 6.1
Manufacturing Pmi (points) 48.80 50.1 50.8 53.5 50.5 52

Consumer Actual Q4 Q1 Q2 Q3 2021
Consumer Confidence (points) -31.10 -35 -27 -14 -17 -20
Retail Sales MoM (%) 1.50 0.3 0.9 0.7 0.7 0.5
Retail Sales YoY (%) -0.70 -3 1.9 9.5 3.4 4.2
Consumer Spending (HUF Million) 5531051.00 4671688 5878378 5706971 6200308 4811838
Bank Lending Rate (%) 1.85 1 1.85 1.85 1.85 1.25
Consumer Credit (HUF Billion) 959.69 739 808 871 1050 761
Gasoline Prices (USD/Liter) 1.21 1.15 0.99 0.94 0.9 1.1

Housing Actual Q4 Q1 Q2 Q3 2021
Construction Output (%) -13.60 -3 2.5 3.2 3.2 4.5


This page has economic forecasts for Hungary including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Hungary economy.