Published on: 15 November 2022

Economic performance grows by 4.0% in 3rd quarter

Hungary’s gross domestic product increased by 4.0% according to raw data and by 4.1% according to seasonally and calendar adjusted and reconciled data in the 3rd quarter of 2022 compared to the corresponding period of the previous year. All sections contributed to the growth except for agriculture. Compared to the previous quarter, the economic performance diminished by 0.4% according to seasonally and calendar adjusted and reconciled data.

The economic performance grew by 4.0% according to raw data and by 4.1% according to seasonally and calendar adjusted and reconciled data compared to the same quarter of the previous year.

Almost all sections contributed to the increase, but mostly industry and market services. There were significant growths especially in the manufacture of motor vehicles, trailers and semi-trailers, the manufacture of computer, electronic and optical products as well as the manufacture of electrical equipment within industry and mostly in transportation and storage as well as professional, scientific, technical and administrative activities among market services. A considerable downturn in agriculture slowed the increase.

Compared to the previous quarter, the performance of the economy was down by 0.4% in the 3rd quarter.

The economic performance was 6.1% higher in quarters 1–3 of 2022 according to both raw data and seasonally and calendar adjusted and reconciled data than in the corresponding period of the previous year.

Volume indices of GDP

(corresponding period of previous year=100.0)

(%)

Year Unadjusted, raw data Calendar-adjusted data
I II III IV I–II I–III I–IV I II III IV I–II I–III I–IV
2019105.3104.7105.0104.4105.0105.0104.9105.3104.9104.8104.4105.1105.0104.9
2020102.187.195.897.294.394.895.5101.787.195.896.894.194.795.3
202197.8117.8106.2107.4107.5107.0107.198.2117.5106.2107.2107.6107.1107.1
2022108.2106.5104.0107.3106.1108.0106.5103.8107.2106.0

Seasonally and calendar adjusted and reconciled volume indices of GDP

(%)

Year I II III IV I–II I–III I–IV
corresponding period of previous year=100.0
2019105.5104.9104.8104.3105.2105.1104.9
2020101.786.895.896.794.394.895.3
202198.3117.5106.7107.4107.1107.0107.1
2022107.9106.3104.1107.1106.1

Seasonally and calendar adjusted quarterly volume indices of GDP

(%)

Year I II III IV
previous quarter=100.0
2019101.9100.4101.4100.5
202099.585.6111.9101.4
2021101.1102.4101.7102.1
2022101.6100.899.6