Hungary's gross domestic product expanded 7.1 percent in 2021, recovering from a 4.9 percent contraction in 2020. It was the largest annual growth in the country's economic history. Looking ahead, the economy is expected to growth by 5.9 percent in 2022, according to the Minister of Finance Mihaly Varga. source: Hungarian Central Statistical Office

Full Year GDP Growth in Hungary averaged 2.51 percent from 1996 until 2021, reaching an all time high of 7.10 percent in 2021 and a record low of -6.70 percent in 2009. This page includes a chart with historical data for Hungary Full Year GDP Growth. Hungary Full Year GDP Growth - values, historical data and charts - was last updated on August of 2022.

Full Year GDP Growth in Hungary is expected to reach 4.10 percent by the end of 2022, according to Trading Economics global macro models and analysts expectations. In the long-term, the Hungary Full Year GDP Growth is projected to trend around 3.50 percent in 2023, according to our econometric models.

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Hungary Full Year GDP Growth



Related Last Previous Unit Reference
GDP Growth Rate 2.10 2.20 percent Mar 2022
GDP Annual Growth Rate 8.20 7.10 percent Mar 2022
GDP 182.28 156.74 USD Billion Dec 2021

Hungary Full Year GDP Growth
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.
Actual Previous Highest Lowest Dates Unit Frequency
7.10 -4.90 7.10 -6.70 1996 - 2021 percent Yearly
Constant Prices, NSA