Markets Actual Q1 Q2 Q3 Q4 2022
Currency 293.95 295 297 299 300 304
Stock Market (points) 43498.48 42697 41785 40890 40013 38259
Government Bond 10Y (%) 2.30 2.45 2.55 2.65 2.75 2.95

Overview Actual Q1 Q2 Q3 Q4 2022
GDP Growth Rate (%) 11.40 2.6 2 1.6 1.3 1.1
GDP Annual Growth Rate (%) -4.60 -2.2 12.1 6 3.8 2.6
Unemployment Rate (%) 4.40 6.5 6.7 6.7 5.8 4.9
Inflation Rate (%) 2.70 2.5 3.4 2.6 2.4 2.4
Inflation Rate Mom (%) 0.30 0.2 -0.1 -0.1 0.3 0.3
Interest Rate (%) 0.60 0.6 0.6 0.6 1 1
Balance of Trade (HUF Million) 289000.00 90000 120000 170000 110000 110000
Current Account (EUR Million) 752.01 40 1100 1100 -100 -100
Current Account to GDP (%) -0.80 1.4 1.4 1.4 1.4 1.2
Government Debt to GDP (%) 66.30 74 74 74 74 72
Government Budget (% of GDP) -2.00 -4.4 -4.4 -4.4 -4.4 -3.9
Business Confidence (points) -13.10 -9 -7 -9 -12 -3
Consumer Confidence (points) -38.50 -27 -14 -17 -20 -12
Retail Sales MoM (%) 1.00 0.9 0.7 0.7 0.5 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 Q1 Q2 Q3 Q4 2022
GDP Growth Rate (%) 11.40 2.6 2 1.6 1.3 1.1
GDP Annual Growth Rate (%) -4.60 -2.2 12.1 6 3.8 2.6
GDP (USD Billion) 160.97 148 148 148 148 155
GDP Constant Prices (HUF Million) 10115492.00 10294504 9245262 9852871 8140296 10685695
Gross Fixed Capital Formation (HUF Million) 2428322.00 2490192 2525294 2688291 2071620 2584819
GDP per capita (USD) 17466.00 17100 17100 17100 17100 18400
GDP per capita PPP (USD) 32622.90 32800 32800 32800 32800 34200
GDP From Agriculture (HUF Million) 349676.00 346012 350863 397177 236992 359160
GDP From Construction (HUF Million) 340374.00 377538 417568 397689 338611 391884
GDP From Manufacturing (HUF Million) 1935896.00 1814973 1903030 1709589 1481118 1883942
GDP From Public Administration (HUF Million) 1258243.00 1183200 1228485 1237261 1080911 1228162
GDP From Services (HUF Million) 5454065.00 5374833 5576471 5559008 4359597 5579076
GDP From Transport (HUF Million) 464395.00 544286 560022 476464 352374 564969

Labour Actual Q1 Q2 Q3 Q4 2022
Unemployment Rate (%) 4.40 6.5 6.7 6.7 5.8 4.9
Youth Unemployment Rate (%) 11.90 11.8 13.7 13.9 11.3 13
Labour Costs (points) 125.90 139 153 163 151 150
Wages (HUF/Month) 397364.00 438086 430415 453795 450100 473133
Wage Growth (%) 8.80 7.5 7.6 7.6 8 8.2
Minimum Wages (EUR/Month) 451.51 550 550 550 550 550
Population (Million) 9.77 9.72 9.72 9.72 9.72 9.7
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 Q1 Q2 Q3 Q4 2022
Inflation Rate (%) 2.70 2.5 3.4 2.6 2.4 2.4
Inflation Rate Mom (%) 0.30 0.2 -0.1 -0.1 0.3 0.3
Harmonised Consumer Prices (points) 114.08 114 115 117 117 117
Consumer Price Index CPI (points) 1367.30 1370 1384 1401 1402 1403
Core Consumer Prices (points) 469.60 474 476 481 482 496
Core Inflation Rate (%) 4.00 3.4 3.4 3.4 3 3
Producer Prices (points) 117.40 103 103 103 103 103
Producer Prices Change (%) 5.50 3.8 3.3 3.3 2.7 2.8
CPI Transportation (points) 98.20 102 102 102 102 102
Food Inflation (%) 4.40 4.5 4.5 4.5 3.6 3.6

Money Actual Q1 Q2 Q3 Q4 2022
Interest Rate (%) 0.60 0.6 0.6 0.6 1 1
Interbank Rate (%) 0.75 0.75 0.75 0.75 0.53 1.15
Deposit Interest Rate (%) -0.05 -0.05 -0.05 -0.05 0.3 0.3
Private Debt to GDP (%) 133.37 125 125 125 119 119

Trade Actual Q1 Q2 Q3 Q4 2022
Balance of Trade (HUF Million) 289000.00 90000 120000 170000 110000 110000
Current Account (EUR Million) 752.01 40 1100 1100 -100 -100
Current Account to GDP (%) -0.80 1.4 1.4 1.4 1.4 1.2
Imports (HUF Million) 3370000.00 2950000 2670000 2670000 2530000 2590000
Exports (HUF Million) 3659000.00 3070000 2840000 2840000 2640000 2640000

Government Actual Q1 Q2 Q3 Q4 2022
Government Debt to GDP (%) 66.30 74 74 74 74 72
Government Budget (% of GDP) -2.00 -4.4 -4.4 -4.4 -4.4 -3.9
Government Budget Value (HUF Billion) -2250.00 160 160 160 220 220
Government Spending (HUF Million) 904576.00 964451 846626 1091288 819601 1001100
Government Spending to GDP (%) 46.10 48 48 48 48 46.5

Taxes Actual Q1 Q2 Q3 Q4 2022
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 42 42
Social Security Rate For Companies (%) 21.00 23.5 21 21 23.5 23.5
Social Security Rate For Employees (%) 18.50 18.5 18.5 18.5 18.5 18.5

Business Actual Q1 Q2 Q3 Q4 2022
Business Confidence (points) -13.10 -9 -7 -9 -12 -3
Industrial Production (%) 3.50 6.2 9.8 7.2 6.1 3.2
Manufacturing PMI (points) 51.10 50.8 53.5 52.5 52 52.5

Consumer Actual Q1 Q2 Q3 Q4 2022
Consumer Confidence (points) -38.50 -27 -14 -17 -20 -12
Retail Sales MoM (%) 1.00 0.9 0.7 0.7 0.5 0.5
Retail Sales YoY (%) -0.80 1.9 9.5 9.5 4.2 0.5
Consumer Spending (HUF Million) 5822204.00 6144821 5883640 6256865 4811838 6378324
Bank Lending Rate (%) 1.85 1.85 1.85 1.85 1.25 2.25
Consumer Credit (HUF Billion) 986.97 826 898 1050 761 857
Gasoline Prices (USD/Liter) 1.24 1.15 0.99 0.94 1.1 1.1

Housing Actual Q1 Q2 Q3 Q4 2022
Construction Output (%) 5.00 2.5 3.2 3.2 4.5 2.8


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.