Markets Actual Q1 Q2 Q3 Q4 2021
Currency 313.61 305 307 309 311 315
Stock Market (points) 45792.07 42616 42163 41715 41276 40397
Government Bond 10Y (%) 2.41 2.22 2.31 2.4 2.49 2.68

Overview Actual Q1 Q2 Q3 Q4 2021
GDP Growth Rate (%) 1.00 1 0.9 1 0.8 0.5
GDP Annual Growth Rate (%) 4.50 3.9 3.6 3.7 3.6 3.5
Unemployment Rate (%) 3.30 3.5 3.5 3.5 3.5 3.4
Inflation Rate (%) 4.70 3.5 3 3 3.1 3.1
Inflation Rate Mom (%) 0.90 0.5 0 0.1 0.2 0.2
Interest Rate (%) 0.90 0.9 0.9 0.9 0.9 1.25
Balance of Trade (HUF Million) 43769.49 280000 400000 450000 90000 110000
Current Account (EUR Million) -230.10 590 440 -195 -180 -200
Current Account to GDP (%) 0.40 -0.6 -0.6 -0.6 -0.6 -0.8
Government Debt to GDP (%) 70.80 68 68 68 68 67.2
Government Budget (% of GDP) -2.20 -1.2 -1.2 -1.2 -1.2 -1
Business Confidence (points) 1.00 8 11 10 12 14
Consumer Confidence (points) -12.50 -10 -7 -9 -8 -9
Retail Sales MoM (%) 0.40 0.7 -0.3 0.2 0.2 0.3
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 2021
GDP Growth Rate (%) 1.00 1 0.9 1 0.8 0.5
GDP Annual Growth Rate (%) 4.50 3.9 3.6 3.7 3.6 3.5
GDP (USD Billion) 155.70 175 175 175 175 185
GDP Constant Prices (HUF Million) 7484050.00 6665692 7288622 7576328 7753476 8024847
Gross Fixed Capital Formation (HUF Million) 2193604.00 2081510 2135986 2220651 2272574 2352114
GDP per capita (USD) 16503.50 18200 18200 18200 18200 19500
GDP per capita PPP (USD) 28242.94 30000 30000 30000 30000 30700
GDP From Agriculture (HUF Million) 219496.00 216139 220549 222202 227398 235357
GDP From Construction (HUF Million) 354333.00 357801 349416 358702 367089 379937
GDP From Manufacturing (HUF Million) 1357232.00 1343688 1351745 1373967 1406092 1455306
GDP From Public Administration (HUF Million) 1021664.00 1038368 1036496 1034261 1058444 1095489
GDP From Services (HUF Million) 4185605.00 4148978 4202538 4237214 4336287 4488057
GDP From Transport (HUF Million) 329494.00 326056 331397 333557 341356 353303

Labour Actual Q1 Q2 Q3 Q4 2021
Unemployment Rate (%) 3.30 3.5 3.5 3.5 3.5 3.4
Youth Unemployment Rate (%) 12.40 12.4 12.4 12.4 12.4 12.4
Labour Costs (points) 123.10 147 143 135 134 145
Wages (HUF/Month) 403521.00 403876 399455 394255 439838 475025
Wage Growth (%) 13.90 10 9.5 9.3 9 8
Minimum Wages (EUR/Month) 464.20 500 500 500 500 550
Population (Million) 9.78 9.74 9.74 9.74 9.74 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
Living Wage Family (HUF/Month) 221500.00 243650 242543 242100 241435 260750
Living Wage Individual (HUF/Month) 144800.00 159280 158556 158266 157832 170459
Wages High Skilled (HUF/Month) 281600.00 309760 308352 307789 306944 331500
Wages Low Skilled (HUF/Month) 140400.00 154440 153738 153457 153036 165279

Prices Actual Q1 Q2 Q3 Q4 2021
Inflation Rate (%) 4.70 3.5 3 3 3.1 3.1
Inflation Rate Mom (%) 0.90 0.5 0 0.1 0.2 0.2
Harmonised Consumer Prices (points) 110.96 112 113 113 114 118
Consumer Price Index CPI (points) 1343.90 1345 1356 1358 1373 1415
Core Consumer Prices (points) 453.40 455 459 463 467 481
Core Inflation Rate (%) 4.00 3.6 3.5 3.6 3.4 3
Producer Prices (points) 102.40 103 103 103 103 103
Producer Prices Change (%) 2.40 1.8 2 2.5 2.9 2.7
CPI Transportation (points) 106.60 104 102 102 102 102
Food Inflation (%) 6.90 4.9 4.7 4.5 4.5 3.6

Money Actual Q1 Q2 Q3 Q4 2021
Interest Rate (%) 0.90 0.9 0.9 0.9 0.9 1.25
Interbank Rate (%) 0.61 0.42 0.42 0.42 0.42 0.42
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 Q1 Q2 Q3 Q4 2021
Balance of Trade (HUF Million) 43769.49 280000 400000 450000 90000 110000
Current Account (EUR Million) -230.10 590 440 -195 -180 -200
Current Account to GDP (%) 0.40 -0.6 -0.6 -0.6 -0.6 -0.8
Imports (HUF Million) 2467814.06 2740000 2860000 2900000 2550000 2670000
Exports (HUF Million) 2511583.55 3020000 3260000 3350000 2640000 2780000

Government Actual Q1 Q2 Q3 Q4 2021
Government Debt to GDP (%) 70.80 68 68 68 68 67.2
Government Budget (% of GDP) -2.20 -1.2 -1.2 -1.2 -1.2 -1
Government Budget Value (HUF Billion) 90.40 -320 -280 200 160 220
Government Spending (HUF Million) 758254.00 718365 765195 767603 785551 813045
Government Spending to GDP (%) 46.50 45.7 45.7 45.7 45.7 45.5

Taxes Actual Q1 Q2 Q3 Q4 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 Q1 Q2 Q3 Q4 2021
Business Confidence (points) 1.00 8 11 10 12 14
Industrial Production (%) -1.20 4.5 4.8 4.4 4.2 4.7
Manufacturing Pmi (points) 52.50 54 53.5 52.5 52.6 52.3

Consumer Actual Q1 Q2 Q3 Q4 2021
Consumer Confidence (points) -12.50 -10 -7 -9 -8 -9
Retail Sales MoM (%) 0.40 0.7 -0.3 0.2 0.2 0.3
Retail Sales YoY (%) 6.10 3.8 3.6 3.5 3.4 3.4
Consumer Spending (HUF Million) 4193354.00 4137149 4329488 4245058 4344315 4496366
Bank Lending Rate (%) 0.90 0.9 0.9 0.9 0.9 0.9
Consumer Credit (HUF Billion) 882.91 748 814 863 915 947
Gasoline Prices (USD/Liter) 1.31 1.17 1.2 1.23 1.27 1.27

Housing Actual Q1 Q2 Q3 Q4 2021
Construction Output (%) 2.70 5.1 4.8 4.5 4 4


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.