Hungary’s gross domestic product advanced 6.1 percent from a year earlier in the third quarter of 2021, easing from the fastest expansion on record of 17.9 percent from the previous period and lower than the market consensus of a 7.4 jump. On a seasonally adjusted quarterly basis, the economy advanced 0.7 percent from a 2.7 percent increase in the second quarter, mainly driven by market services, as the economy continues to open. source: Hungarian Central Statistical Office

GDP Annual Growth Rate in Hungary averaged 2.46 percent from 1996 until 2021, reaching an all time high of 17.90 percent in the second quarter of 2021 and a record low of -13.30 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 November of 2021.

GDP Annual Growth Rate in Hungary is expected to be 7.10 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 4.20 percent in 2022 and 3.20 percent in 2023, according to our econometric models.

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Hungary GDP Annual Growth Rate


Calendar GMT Actual Previous Consensus TEForecast
2021-09-01 07:00 AM YoY Final Q2 17.9% -2.1% 17.9%
2021-11-16 08:00 AM YoY Prel Q3 6.1% 17.9% 7.4% 7.9%
2021-12-01 08:00 AM YoY Final Q3 17.9% 6.1%


Related Last Previous Unit Reference
GDP Growth Rate 0.70 2.70 percent Sep/21
GDP Annual Growth Rate 6.10 17.90 percent Sep/21
GDP Constant Prices 10403959.00 9250125.00 HUF Million Jun/21
Gross Fixed Capital Formation 2641287.00 2558920.00 HUF Million Jun/21
GDP From Transport 489866.00 485497.00 HUF Million Jun/21
GDP From Services 5611754.00 5509934.00 HUF Million Jun/21
GDP From Public Administration 1245831.00 1250656.00 HUF Million Jun/21
GDP From Manufacturing 2075695.00 2026335.00 HUF Million Jun/21
GDP From Construction 421443.00 406808.00 HUF Million Jun/21
GDP From Agriculture 340093.00 344239.00 HUF Million Jun/21

News Stream
Hungary GDP Q4 GDP Grows Less than Expected
Hungary’s gross domestic product advanced 6.1 percent from a year earlier in the third quarter of 2021, easing from the fastest expansion on record of 17.9 percent from the previous period and lower than the market consensus of a 7.4 jump. On a seasonally adjusted quarterly basis, the economy advanced 0.7 percent from a 2.7 percent increase in the second quarter, mainly driven by market services, as the economy continues to open.
2021-11-16
Hungary GDP Growth Confirmed at 17.9% in Q2
Hungary's gross domestic product advanced 17.9 percent from a year earlier in the second quarter of 2021, in line with preliminary estimates, and rebounding from four straight quarters of recession amid the pandemic crisis. It was the highest growth rate of the Hungarian economy on record, given the low base year effects. Output rose sharply in most sectors, notably in accommodation services & hospitality (71.5 percent vs -47.7 percent in Q1); manufacturing activities (39.9 percent vs 4.1 percent); education (23.2 percent vs -2.3 percent); the building industry (18.4 percent vs -2.4 percent); and arts, entertainment & other services (17.1 percent vs -9.4 percent). On a quarterly basis, economic growth was confirmed at 2.7 percent, picking up momentum from a 2.0 percent expansion in the first quarter.
2021-09-01
Hungary Q2 GDP Rebounds More than Expected
Hungary's gross domestic product advanced 17.9 percent from a year earlier in the second quarter of 2021, after four consecutive quarters of contraction and beating market consensus of a 17.1 percent jump, a preliminary estimate showed. It was the fastest expansion on record, due to baseline effects and amid the relaxation of Covid-19 restrictions. On a seasonally adjusted quarterly basis, the economy expanded by 2.7 percent, following a 2 percent growth in the previous quarter, mainly boosted by industry.
2021-08-17

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.