Hungary’s GDP expanded 5.0 percent year-on-year in the third quarter of 2019, accelerating from a 4.9 percent advance in the previous period and in line with market expectations. On the production side, GDP growth was mainly driven by industry (7.6 percent vs 4.0 percent in Q2), namely manufacturing (8.1 percent vs 3.2 percent); construction (18.1 percent vs 27.4 percent) and services (3.9 percent vs 4.4 percent). On the expenditure side, government expenditure rebounded (2.2 percent vs -3.7 percent); while both household consumption (4.2 percent vs 4.7 percent) and gross fixed capital formation (16.1 percent vs 17.8 percent) slowed. Net trade contributed positively to growth, as exports climbed 8.3 percent (vs 2.8 percent) while imports rose at a softer 7.4 percent (vs 4.3 percent). On a seasonally adjusted quarterly basis, the GDP grew 1.1 percent, the same as in Q2 and above earlier estimates of 0.9 percent. GDP Annual Growth Rate in Hungary averaged 2.59 percent from 1996 until 2019, reaching an all time high of 5.90 percent in the first quarter of 2000 and a record low of -7.90 percent in the second quarter of 2009. source: Hungarian Central Statistical Office

GDP Annual Growth Rate in Hungary is expected to be 3.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Hungary to stand at 3.60 in 12 months time. In the long-term, the Hungary GDP Annual Growth Rate is projected to trend around 3.50 percent in 2020, according to our econometric models.

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Hungary GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
5.00 4.90 5.90 -7.90 1996 - 2019 percent Quarterly
NSA



Calendar GMT Actual Previous Consensus TEForecast
2019-08-14 07:00 AM GDP Growth Rate YoY Prel Q2 4.9% 5.3% 4.6% 4%
2019-08-30 07:00 AM GDP Growth Rate YoY Final Q2 4.9% 5.3% 4.9% 4.9%
2019-11-14 08:00 AM GDP Growth Rate YoY Prel Q3 5.0% 4.9% 4.7% 4.5%
2019-11-29 08:00 AM GDP Growth Rate YoY Final Q3 5.0% 4.9% 5.0%
2020-02-14 08:00 AM GDP Growth Rate YoY Prel Q4 5.0% 4.2%


News Stream
2019-11-14
Hungary Economy Grows 5.0% YoY in Q3
Hungary’s gross domestic product expanded 5.0 percent year-on-year in the third quarter of 2019, following a 4.9 percent growth in the previous period and well above market consensus of 4.7 percent, a flash estimate showed. On a seasonally adjusted quarterly basis, the economy advanced 1.1 percent, unchanged from the previous period.

2019-08-30
Hungary Q2 GDP Growth Confirmed at 1-Year Low
Hungary's gross domestic product expanded 4.9 percent year-on-year in the second quarter of 2019, slowing from a 15-year high of 5.3 percent in the previous period and in line with preliminary estimates. It was the lowest growth since the second quarter of 2018, as output for industry rose 3.1 percent, after a 5.8 percent gain in Q1, namely manufacturing (3.1 percent vs 5.8 percent). Also, construction activity climbed 27.9 percent, easing from a 46.7 percent jump. On a seasonally adjusted quarterly basis, the GDP advanced 1.1 percent, following a 1.4 percent growth in Q1.

2019-08-14
Hungary GDP Annual Growth Rate at 1-Year Low
The Hungarian economy advanced 4.9 percent year-on-year in the second quarter of 2019, slowing from a 15-year high of 5.3 percent in the previous period, but still above market expectations of a 4.6 percent rise, preliminary estimates showed. It was the slowest expansion in a year, as output grew less for construction and manufacturing. On a seasonally adjusted quarterly basis, the GDP rose 1.1 percent, after a downwardly revised 1.4 percent growth in the previous quarter.

2019-05-31
Hungary GDP Annual Growth Rate Highest Since 2004
The Hungarian economy advanced 5.3 percent year-on-year in the first quarter of 2019, following a 5.1 percent rise in the previous period and in line with preliminary estimate. It was the highest growth rate since the third quarter of 2004, as government consumption rebounded (2.1 percent vs -7.0 percent in Q4) and household consumption increased faster (4.8 percent vs 4.3 percent) while gross fixed capital formation rose sharply (23.4 percent vs 17.2 percent). Net foreign demand contributed positively to GDP, as exports went up 7.7 percent (from 5.6 percent in Q4) while imports increased at a softer 6.7 percent (from 8.2 percent in Q4). On a seasonally adjusted quarterly basis, the economy expanded 1.5 percent, accelerating from a 1.1 percent rise in the previous period.

2019-05-15
Hungary GDP Annual Growth Rate Highest Since 2004
The Hungarian economy advanced 5.3 percent year-on-year in the first quarter of 2019, following a 5.1 percent expansion in the previous period and beating market expectations of 5.1 percent, a preliminary estimate showed. It was the strongest growth rate since the second quarter of 2004, mainly boosted by market services, construction and industry output. On a seasonally adjusted quarterly basis, the economy grew 1.5 percent, up from an upwardly revised 1.0 percent expansion in the prior period.

2019-03-01
Hungary GDP Annual Growth Rate Highest Since 2014
The Hungarian economy advanced 5.1 percent year-on-year in the fourth quarter of 2018, the same pace as in the previous period and slightly above a preliminary estimate of 5.0 percent. It remained the highest growth rate since the third quarter of 2014, as social transfers in kind from government rose 1.0 percent (vs 0.2 percent in Q3). Household consumption slowed to 5.0 percent, after expanding 5.4 percent in the prior period and fixed investment grew 17.2 percent (20 percent in Q3). Meantime, net external demand contributed negatively to the GDP as exports increased 5.6 percent (vs 2.3 percent) and imports rose at a faster 8.2 percent (vs 6.2 percent). On a seasonally adjusted quarterly basis, the economy expanded 1 percent, down from an upwardly revised 1.4 percent in the previous period. Considering full 2018, the economy grew 4.9 percent compared to a year earlier.


Hungary GDP Annual Growth Rate
Electronics manufacturing and research are among the main drivers of innovation and economic growth in Hungary. The country has also grown into a major center for mobile technology, information security, and related hardware research. On the expenditure side, household consumption is the main component of GDP and accounts for 50 percent of its total use, followed by gross fixed capital formation (22 percent) and government expenditure (20 percent). Exports of goods and services account for 89 percent of GDP while imports account for 82 percent, adding 7 percent of total GDP.

Hungary GDP Last Previous Highest Lowest Unit
GDP Growth Rate 1.10 1.10 2.30 -4.20 percent [+]
GDP Annual Growth Rate 5.00 4.90 5.90 -7.90 percent [+]
GDP 155.70 139.76 158.00 4.69 USD Billion [+]
GDP Constant Prices 7484050.00 7202196.00 7484050.00 3672960.00 HUF Million [+]
Gross Fixed Capital Formation 2193604.00 2110658.00 2193604.00 734169.00 HUF Million [+]
GDP per capita 16503.50 15695.70 16503.50 8548.30 USD [+]
GDP per capita PPP 28242.94 26860.57 28242.94 14629.01 USD [+]
GDP From Agriculture 219496.00 217934.00 254197.00 135465.00 HUF Million [+]
GDP From Construction 354333.00 345273.00 354333.00 144569.00 HUF Million [+]
GDP From Manufacturing 1357232.00 1335716.00 1357232.00 538330.00 HUF Million [+]
GDP From Public Administration 1021664.00 1024206.00 1039354.00 724159.00 HUF Million [+]
GDP From Services 4185605.00 4152706.00 4185605.00 2335017.00 HUF Million [+]
GDP From Transport 329494.00 327467.00 329494.00 180080.00 HUF Million [+]