Hungary’s GDP expanded 0.4 percent year-on-year in the fourth quarter of 2022, easing from a 4.0 percent advance in the previous period. This marks the seventh consecutive quarter of expansion but the lowest growth rate in the sequence, as growth slowed in industry (2.7 percent vs 10.1 percent in Q3), namely manufacturing (3.3 percent vs 10.8 percent); services (2.8% vs 5.6%), notably accommodation services & hospitality (2.4% vs 6.4%) and information & communication (1.4% vs 5.3%); professional, scientific, technical & administrative activities (3.6% vs 10.3%); arts & entertainment (2.9% vs 4.6%). Meanwhile, agriculture sector posted a notable downturn (-32.3% vs -39.3%). On the other hand, output rose for health & social work (8% vs 6%). On a seasonally adjusted quarterly basis, the economy fell by 0.4 percent, in line with market expectations and following a 0.7 percent decline in the third quarter. Considering full 2022, the economy grew 4.6 percent compared to a year earlier. source: Hungarian Central Statistical Office
GDP Annual Growth Rate in Hungary averaged 2.63 percent from 1996 until 2022, reaching an all time high of 17.80 percent in the second quarter of 2021 and a record low of -12.90 percent in the second quarter of 2020. This page provides - Hungary GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Hungary GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on March of 2023.
GDP Annual Growth Rate in Hungary is expected to be -0.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Hungary GDP Annual Growth Rate is projected to trend around 2.20 percent in 2024 and 3.00 percent in 2025, according to our econometric models.