Markets Actual Q1 Q2 Q3 Q4 2023
Currency 314.51 314 317 319 322 327
Stock Market (points) 52968.36 51289 49919 48586 47289 44797
Government Bond 10Y (%) 4.76 4.79 4.91 5.03 5.15 5.41

Overview Actual Q1 Q2 Q3 Q4 2023
GDP Growth Rate (%) 0.70 1 0.9 1 0.9 0.7
GDP Annual Growth Rate (%) 6.10 7.4 5.1 4.9 4.2 3.2
Unemployment Rate (%) 3.60 3.8 4 3.8 3.7 3.5
Inflation Rate (%) 7.40 7 6.3 5.5 4.7 3.2
Inflation Rate Mom (%) 0.30 0.3 0.3 0.3 0.2 0.1
Interest Rate (%) 2.40 2.5 2.75 2.75 2.75 3
Balance of Trade (EUR Million) 81.00 500 1400 2900 -100 -800
Current Account (EUR Million) -2262.80 500 500 600 200 150
Current Account to GDP (% of GDP) 0.00 -0.4 -0.4 -0.4 -0.4 -0.2
Government Debt to GDP (% of GDP) 80.40 77.5 77.5 77.5 77.5 76.8
Government Budget (% of GDP) -8.10 -5 -5 -5 -5 -3.5
Business Confidence (points) 4.40 5.1 3.5 2.2 1 8
Consumer Confidence (points) -19.40 -5 -6 -6 -6 -4
Retail Sales MoM (%) -0.20 0.7 0.7 0.3 0.4 0.4
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 2023
GDP Growth Rate (%) 0.70 1 0.9 1 0.9 0.7
GDP Annual Growth Rate (%) 6.10 7.4 5.1 4.9 4.2 3.2
GDP (USD Billion) 155.01 194 194 194 194 205
GDP Constant Prices (HUF Million) 10772039.00 11386505 9934634 10934561 11299869 11864738
Gross Fixed Capital Formation (HUF Million) 2742611.00 2739304 2748280 2775993 2876999 2854355
GDP per capita (USD) 14328.07 18400 18400 18400 18400 18400
GDP per capita PPP (USD) 31007.77 34200 34200 34200 34200 34200
GDP From Agriculture (HUF Million) 313834.00 367981 369713 357438 329212 383436
GDP From Construction (HUF Million) 412807.00 405664 436912 442937 433035 422702
GDP From Manufacturing (HUF Million) 1924468.00 2081510 2176284 2181555 2018767 2168933
GDP From Public Administration (HUF Million) 1272891.00 1341157 1343205 1309368 1335263 1397485
GDP From Services (HUF Million) 5853145.00 5804745 5917669 5897953 6139949 6048544
GDP From Transport (HUF Million) 555355.00 494447 521424 514849 582567 515214

Labour Actual Q1 Q2 Q3 Q4 2023
Unemployment Rate (%) 3.60 3.8 4 3.8 3.7 3.5
Youth Unemployment Rate (%) 12.40 12.6 12.8 12.6 12.5 12.5
Labour Costs (points) 132.00 162 153 143 143 155
Wages (HUF/Month) 419035.00 459297 459205 450850 453396 490574
Wage Growth (%) 8.70 8.4 8.4 8.4 8.2 8.2
Minimum Wages (EUR/Month) 476.00 480 480 480 480 510
Population (Million) 9.77 9.7 9.7 9.7 9.7 9.7
Retirement Age Women 64.50 64.5 64.5 64.5 64.5 64.5
Retirement Age Men 64.50 64.5 64.5 64.5 64.5 64.5

Prices Actual Q1 Q2 Q3 Q4 2023
Inflation Rate (%) 7.40 7 6.3 5.5 4.7 3.2
Inflation Rate Mom (%) 0.30 0.3 0.3 0.3 0.2 0.1
Consumer Price Index CPI (points) 1468.50 1499 1516 1517 1538 1587
Harmonised Consumer Prices (points) 122.20 125 126 127 128 132
Core Consumer Prices (points) 447.90 494 447 455 467 476
Core Inflation Rate (%) 6.40 3.9 3.9 4.3 4.3 2
Producer Prices (points) 142.60 103 103 103 103 103
Producer Prices Change (%) 21.60 11.7 8.8 4.6 3.3 2.8
Food Inflation (%) 5.50 4.3 4.3 4.3 4.5 4.2
CPI Transportation (points) 116.60 117 117 118 118 118

Money Actual Q1 Q2 Q3 Q4 2023
Interest Rate (%) 2.40 2.5 2.75 2.75 2.75 3
Interbank Rate (%) 4.19 4.29 4.54 4.54 4.54 4.54
Deposit Interest Rate (%) 2.40 0.3 2.75 2.75 2.75 2.75
Private Debt to GDP (%) 136.20 135 135 135 135 132

Trade Actual Q1 Q2 Q3 Q4 2023
Balance of Trade (EUR Million) 81.00 500 1400 2900 -100 -800
Current Account (EUR Million) -2262.80 500 500 600 200 150
Current Account to GDP (% of GDP) 0.00 -0.4 -0.4 -0.4 -0.4 -0.2
Imports (EUR Million) 11032.61 11600 10500 9600 9900 11700
Exports (EUR Million) 11113.33 12100 11900 12500 9800 10900

Government Actual Q1 Q2 Q3 Q4 2023
Government Debt to GDP (% of GDP) 80.40 77.5 77.5 77.5 77.5 76.8
Government Budget (% of GDP) -8.10 -5 -5 -5 -5 -3.5
Government Budget Value (HUF Billion) -1171.00 -1100 -1100 -1100 -1190 -870
Government Spending (HUF Million) 1098255.00 1290184 1096342 1100844 1152069 1344372
Government Spending to GDP (% of GDP) 51.60 48 48 48 46.5 46.5
Government Revenues (HUF Billion) 2089.12 1850 1850 1850 3410 3880
Fiscal Expenditure (HUF Billion) 2719.26 2950 2950 2950 4600 4750

Taxes Actual Q1 Q2 Q3 Q4 2023
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 (%) 35.50 42 42 42 42 42
Social Security Rate For Companies (%) 17.00 23.5 23.5 23.5 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 2023
Business Confidence (points) 4.40 5.1 3.5 2.2 1 8
Industrial Production (%) 2.60 3.5 4.1 4.1 3.2 2.5
Manufacturing PMI (points) 64.80 54.3 53.2 53.2 52.8 52.8

Consumer Actual Q1 Q2 Q3 Q4 2023
Consumer Confidence (points) -19.40 -5 -6 -6 -6 -4
Retail Sales MoM (%) -0.20 0.7 0.7 0.3 0.4 0.4
Retail Sales YoY (%) 3.80 3.7 3.7 3.7 1.9 1.9
Consumer Spending (HUF Million) 6145338.00 6649011 6215707 6446804 6446460 6928270
Bank Lending Rate (%) 4.40 4.5 4.75 4.75 4.75 4.75
Gasoline Prices (USD/Liter) 1.43 1.36 1.29 1.23 1.16 1.11
Consumer Credit (HUF Billion) 1149.40 1093 1128 1184 1198 1236

Housing Actual Q1 Q2 Q3 Q4 2023
Construction Output (%) 12.30 6.2 2.8 7.8 9.2 19.2


Trading Economics provides data for 20 million economic indicators from 196 countries including actual values, consensus figures, forecasts, historical time series and news. Hungary Forecast - was last updated on Thursday, January 20, 2022.