Markets Actual Q3 Q4 Q1 Q2 2022
Currency 299.63 305 307 310 313 318
Stock Market (points) 49315.61 47117 45723 44368 43058 40547
Government Bond 10Y (%) 2.88 3.01 3.09 3.17 3.25 3.42

Overview Actual Q3 Q4 Q1 Q2 2022
GDP Growth Rate (%) 2.00 2.8 1.5 1 0.9 0.9
GDP Annual Growth Rate (%) -2.10 5.7 4.9 3.5 2.8 4.1
Unemployment Rate (%) 4.10 4.4 4.6 4.3 4.5 4.7
Inflation Rate (%) 5.30 4.3 3.7 2.7 2.5 2.9
Inflation Rate Mom (%) 0.60 0.1 0.1 0.3 0.3 0.2
Interest Rate (%) 1.20 1.2 1.2 1.2 1.2 1.2
Balance of Trade (HUF Million) 30078.03 350000 110000 110000 170000 200000
Current Account (EUR Million) 540.80 800 100 500 500 200
Current Account to GDP (% of GDP) -0.80 -0.5 -0.5 -0.4 -0.4 -0.4
Government Debt to GDP (% of GDP) 80.40 78 78 77.5 77.5 77.5
Government Budget (% of GDP) -8.10 -6.1 -6.1 -5 -5 -5
Business Confidence (points) 4.40 -2 1 -1 -1 4.5
Consumer Confidence (points) -16.90 -9 -7 -5 -5 -6
Retail Sales MoM (%) 0.10 0.7 0.5 0.7 0.7 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 Q3 Q4 Q1 Q2 2022
GDP Growth Rate (%) 2.00 2.8 1.5 1 0.9 0.9
GDP Annual Growth Rate (%) -2.10 5.7 4.9 3.5 2.8 4.1
GDP (USD Billion) 155.01 176 176 194 194 194
GDP Constant Prices (HUF Million) 9250125.00 10013089 8140296 11152608 9573879 11609865
Gross Fixed Capital Formation (HUF Million) 2521942.00 2721865 2071620 2717268 2610210 2828676
GDP per capita (USD) 16745.09 17100 17100 18400 18400 18400
GDP per capita PPP (USD) 31007.77 32800 32800 34200 34200 34200
GDP From Agriculture (HUF Million) 1349743.00 381325 236992 360587 356840 375372
GDP From Construction (HUF Million) 401452.00 402656 338611 403630 415503 420179
GDP From Manufacturing (HUF Million) 2018916.00 1730940 1481118 2029464 2089578 2112672
GDP From Public Administration (HUF Million) 1259702.00 1252713 1080911 1312670 1303792 1366490
GDP From Services (HUF Million) 5562420.00 5698558 4359597 5708751 5757105 5942810
GDP From Transport (HUF Million) 489475.00 479534 352374 486082 506607 506012

Labour Actual Q3 Q4 Q1 Q2 2022
Unemployment Rate (%) 4.10 4.4 4.6 4.3 4.5 4.7
Youth Unemployment Rate (%) 13.50 13.8 14 13.7 13.9 13.9
Labour Costs (points) 149.90 137 143 162 162 154
Wages (HUF/Month) 419073.00 423737 485397 459297 454275 525200
Wage Growth (%) 8.50 8 8 8.4 8.4 8.2
Minimum Wages (EUR/Month) 476.00 440 440 480 480 480
Population (Million) 9.77 9.72 9.72 9.7 9.7 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 Q3 Q4 Q1 Q2 2022
Inflation Rate (%) 5.30 4.3 3.7 2.7 2.5 2.9
Inflation Rate Mom (%) 0.60 0.1 0.1 0.3 0.3 0.2
Harmonised Consumer Prices (points) 118.93 119 118 120 122 122
Consumer Price Index CPI (points) 1425.80 1423 1418 1439 1453 1459
Core Consumer Prices (points) 431.10 483 489 493 444 504
Core Inflation Rate (%) 3.80 3.8 4.2 3.6 3.6 3
Producer Prices (points) 124.90 103 103 103 103 103
Producer Prices Change (%) 11.60 11.5 2.7 2.9 2.9 2.8
CPI Transportation (points) 113.30 102 102 102 102 102
Food Inflation (%) 2.40 3.5 4 4.3 4.3 4.5

Money Actual Q3 Q4 Q1 Q2 2022
Interest Rate (%) 1.20 1.2 1.2 1.2 1.2 1.2
Interbank Rate (%) 1.35 1.35 1.35 1.35 1.35 1.35
Deposit Interest Rate (%) 0.25 0.25 0.25 0.25 0.25 0.25
Private Debt to GDP (%) 136.20 140 140 135 135 135

Trade Actual Q3 Q4 Q1 Q2 2022
Balance of Trade (HUF Million) 30078.03 350000 110000 110000 170000 200000
Current Account (EUR Million) 540.80 800 100 500 500 200
Current Account to GDP (% of GDP) -0.80 -0.5 -0.5 -0.4 -0.4 -0.4
Imports (HUF Million) 3315107.05 3410000 2930000 3170000 3170000 3140000
Exports (HUF Million) 3345185.07 4000000 3100000 3550000 3550000 3340000

Government Actual Q3 Q4 Q1 Q2 2022
Government Debt to GDP (% of GDP) 80.40 78 78 77.5 77.5 77.5
Government Budget (% of GDP) -8.10 -6.1 -6.1 -5 -5 -5
Government Budget Value (HUF Billion) -392.00 -1610 220 220 220 -1190
Government Spending (HUF Million) 1020803.00 1194691 819601 1263682 1056531 1315493
Government Spending to GDP (% of GDP) 51.60 48 48 48 48 46.5
Government Revenues (HUF Billion) 1900.05 2250 2980 1850 1850 3410
Fiscal Expenditure (HUF Billion) 2504.44 2200 4550 2950 2950 4600

Taxes Actual Q3 Q4 Q1 Q2 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 (%) 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 Q3 Q4 Q1 Q2 2022
Business Confidence (points) 4.40 -2 1 -1 -1 4.5
Industrial Production (%) 39.10 1.2 2.2 3.5 4.1 3.2
Manufacturing PMI (points) 55.63 51.9 52.5 54.3 53.2 52.8

Consumer Actual Q3 Q4 Q1 Q2 2022
Consumer Confidence (points) -16.90 -9 -7 -5 -5 -6
Retail Sales MoM (%) 0.10 0.7 0.5 0.7 0.7 0.4
Retail Sales YoY (%) 5.80 2.5 4.2 3.7 3.7 1.9
Consumer Spending (HUF Million) 5787437.00 6334178 4811838 6512430 5989997 6779440
Bank Lending Rate (%) 2.15 2.15 2.15 2.15 2.15 2.15
Consumer Credit (HUF Billion) 1052.07 1063 761 1037 1053 1079
Gasoline Prices (USD/Liter) 1.48 1.41 1.34 1.27 1.21 1.15

Housing Actual Q3 Q4 Q1 Q2 2022
Construction Output (%) 18.70 15 7.5 6.2 4.8 3.2


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.