Markets Actual Q3 Q4 Q1 Q2 2021
Currency 314.96 317 319 321 322 326
Stock Market (points) 35803.89 34983 34236 33503 32784 31347
Government Bond 10Y (%) 2.44 2.53 2.63 2.74 2.84 3.05

Overview Actual Q3 Q4 Q1 Q2 2021
GDP Growth Rate (%) -0.40 4.2 2.8 2.6 2 1.3
GDP Annual Growth Rate (%) 2.20 -10.8 -8.5 -5.2 12.1 7.8
Unemployment Rate (%) 4.10 6.2 6.5 7.3 6.7 5.8
Inflation Rate (%) 2.90 2.7 2.5 2.2 2.6 2.4
Inflation Rate Mom (%) 0.40 0.1 0.2 0.2 -0.1 0.3
Interest Rate (%) 0.75 0.75 0.75 0.75 0.75 1
Balance of Trade (HUF Million) -213000.00 310000 90000 120000 170000 110000
Current Account (EUR Million) 2.43 -480 -500 40 1100 -100
Current Account to GDP (%) -0.80 1.1 1.1 1.4 1.4 1.4
Government Debt to GDP (%) 66.30 76.5 76.5 74 74 74
Government Budget (% of GDP) -2.00 -5.8 -5.8 -4.4 -4.4 -4.4
Business Confidence (points) -16.20 -17 -14 -9 -7 -1
Consumer Confidence (points) -32.80 -23 -17 -15 -14 -12.5
Retail Sales MoM (%) 6.10 0.2 0.3 0.9 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 Q3 Q4 Q1 Q2 2021
GDP Growth Rate (%) -0.40 4.2 2.8 2.6 2 1.3
GDP Annual Growth Rate (%) 2.20 -10.8 -8.5 -5.2 12.1 7.8
GDP (USD Billion) 160.97 139 139 148 148 148
GDP Constant Prices (HUF Million) 9473687.00 10163061 10013764 8981055 10620003 10794837
Gross Fixed Capital Formation (HUF Million) 2752135.00 2707524 2540548 2609024 3085143 2738711
GDP per capita (USD) 17466.00 16200 16200 17100 17100 17100
GDP per capita PPP (USD) 32622.90 30700 30700 32800 32800 32800
GDP From Agriculture (HUF Million) 361355.00 347452 338166 342565 405079 364543
GDP From Construction (HUF Million) 475227.00 445631 416822 450515 532729 449334
GDP From Manufacturing (HUF Million) 1964888.00 1912195 1791716 1862714 2202639 1931470
GDP From Public Administration (HUF Million) 1222563.00 1188330 1123290 1158990 1370493 1210906
GDP From Services (HUF Million) 5643259.00 5402536 5192867 5349810 6326093 5597910
GDP From Transport (HUF Million) 563069.00 541228 518382 533789 631200 558816

Labour Actual Q3 Q4 Q1 Q2 2021
Unemployment Rate (%) 4.10 6.2 6.5 7.3 6.7 5.8
Youth Unemployment Rate (%) 13.50 11.9 11.9 12.7 12.1 12.1
Labour Costs (points) 142.10 133 139 153 153 150
Wages (HUF/Month) 400188.00 389926 438086 430415 430815 473133
Wage Growth (%) 7.80 8.1 7.8 7.5 7.6 8
Minimum Wages (EUR/Month) 464.20 500 500 550 550 550
Population (Million) 9.77 9.74 9.74 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 Q3 Q4 Q1 Q2 2021
Inflation Rate (%) 2.90 2.7 2.5 2.2 2.6 2.4
Inflation Rate Mom (%) 0.40 0.1 0.2 0.2 -0.1 0.3
Harmonised Consumer Prices (points) 112.45 113 114 115 115 116
Consumer Price Index CPI (points) 1354.80 1356 1365 1380 1384 1397
Core Consumer Prices (points) 460.70 463 467 474 475 481
Core Inflation Rate (%) 4.00 3.6 3.4 3.4 3.4 3
Producer Prices (points) 101.70 103 103 103 103 103
Producer Prices Change (%) 1.70 2.5 2.9 2.8 2.8 2.7
CPI Transportation (points) 94.90 102 102 102 102 102
Food Inflation (%) 8.70 4.5 4.5 4.5 4.5 3.6

Money Actual Q3 Q4 Q1 Q2 2021
Interest Rate (%) 0.75 0.75 0.75 0.75 0.75 1
Interbank Rate (%) 0.70 0.74 0.74 0.74 0.74 0.74
Deposit Interest Rate (%) -0.05 -0.05 -0.05 -0.05 -0.05 -0.05
Private Debt to GDP (%) 133.37 125 125 125 125 119

Trade Actual Q3 Q4 Q1 Q2 2021
Balance of Trade (HUF Million) -213000.00 310000 90000 120000 170000 110000
Current Account (EUR Million) 2.43 -480 -500 40 1100 -100
Current Account to GDP (%) -0.80 1.1 1.1 1.4 1.4 1.4
Imports (HUF Million) 2211000.00 2900000 2440000 2950000 2670000 2530000
Exports (HUF Million) 1998000.00 3210000 2485000 3070000 2840000 2640000

Government Actual Q3 Q4 Q1 Q2 2021
Government Debt to GDP (%) 66.30 76.5 76.5 74 74 74
Government Budget (% of GDP) -2.00 -5.8 -5.8 -4.4 -4.4 -4.4
Government Budget Value (HUF Billion) -324.10 200 160 160 160 220
Government Spending (HUF Million) 856773.00 875933 944977 812221 960443 1018685
Government Spending to GDP (%) 46.10 50.7 50.7 48 48 48

Taxes Actual Q3 Q4 Q1 Q2 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 39.5 39.5 39.5 39.5 39.5
Social Security Rate For Companies (%) 21.00 21 21 21 21 21
Social Security Rate For Employees (%) 18.50 18.5 18.5 18.5 18.5 18.5

Business Actual Q3 Q4 Q1 Q2 2021
Business Confidence (points) -16.20 -17 -14 -9 -7 -1
Industrial Production (%) -30.70 -18 -25 -25 4.4 4.6
Manufacturing Pmi (points) 47.00 44.5 49.6 50.8 51.2 52

Consumer Actual Q3 Q4 Q1 Q2 2021
Consumer Confidence (points) -32.80 -23 -17 -15 -14 -12.5
Retail Sales MoM (%) 6.10 0.2 0.3 0.9 0.7 0.5
Retail Sales YoY (%) -2.10 1.8 2.2 2.5 3.4 1
Consumer Spending (HUF Million) 6020012.00 5697168 5878378 5706971 6748433 6336892
Bank Lending Rate (%) 1.85 1.85 1.85 1.85 1.85 1.85
Consumer Credit (HUF Billion) 919.64 822 808 871 1031 871
Gasoline Prices (USD/Liter) 1.10 1.05 0.99 0.94 0.9 0.85

Housing Actual Q3 Q4 Q1 Q2 2021
Construction Output (%) -2.10 -4 -3 2.5 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.