Economic performance 1.7% higher in 1st quarter 2026 than in 1st quarter 20251
The volume of Hungary’s gross domestic product was 1.7% higher according to both raw and seasonally and calendar adjusted and reconciled data in the 1st quarter of 2026 than in the corresponding period of the previous year. Compared to the previous quarter, the economic performance rose by 0.8% according to seasonally and calendar adjusted and reconciled data.
In 1st quarter 2026:
The volume of GDP was 1.7% higher according to both raw and seasonally and calendar adjusted and reconciled data than in the same period of the previous year. The volume indices published in the second estimate were unchanged compared to the flash estimate.
Production approach:
The value added of agriculture was 1.9% higher than in the corresponding period of the previous year. Industry increased its performance by 0.8%, within which manufacturing by 1.3%. Among manufacturing branches, the largest contributor to the growth was the manufacture of computer, electronic and optical products, while the manufacture of coke and refined petroleum products slowed it the most. The value added of construction was 4.3% lower than in the corresponding period of the previous year.
Volume indices of production of gross domestic product (GDP)
(corresponding period of previous year = 100.0%)
| NACE | Industries | 2025 | 2026 | ||||
|---|---|---|---|---|---|---|---|
| quarter(s) | |||||||
| I | II | III | IV | I–IV | I | ||
| A | Agriculture, forestry and fishing | 106.1 | 90.6 | 91.6 | 98.3 | 95.7 | 101.9 |
| B–E | Manufacturing, mining and quarrying and other industry | 96.5 | 97.5 | 97.9 | 97.9 | 97.5 | 100.8 |
| C | Of which: manufacturing | 95.7 | 96.3 | 98.6 | 98.9 | 97.4 | 101.3 |
| F | Construction | 95.6 | 104.2 | 103.3 | 105.1 | 103.0 | 95.7 |
| G–T | Services, total, of which: | 101.0 | 101.5 | 102.0 | 101.2 | 101.4 | 102.3 |
| G | Wholesale and retail trade | 101.9 | 101.6 | 103.2 | 102.1 | 102.2 | 102.3 |
| H | Transportation and storage | 101.2 | 101.4 | 101.5 | 101.2 | 101.3 | 100.4 |
| I | Accommodation and food service activities | 101.5 | 103.5 | 102.8 | 102.0 | 102.4 | 102.3 |
| J | Information and communication | 99.3 | 103.5 | 102.1 | 100.4 | 101.3 | 102.4 |
| K | Financial and insurance activities | 99.0 | 101.8 | 105.7 | 106.2 | 103.1 | 102.9 |
| L | Real estate activities | 100.0 | 98.7 | 97.7 | 97.8 | 98.5 | 99.7 |
| M–N | Professional, scientific, technical and administrative activities | 101.0 | 102.7 | 103.7 | 101.9 | 102.4 | 105.3 |
| O | Public administration, defence and compulsory social security | 98.2 | 99.3 | 101.2 | 101.4 | 100.0 | 101.1 |
| P | Education | 103.1 | 104.5 | 104.1 | 102.4 | 103.5 | 103.0 |
| Q | Human health and social work activities | 102.3 | 100.3 | 103.4 | 100.8 | 101.7 | 101.3 |
| R–T | Arts, entertainment, recreation and other service activities | 102.7 | 105.6 | 100.6 | 104.5 | 103.3 | 104.6 |
| GDP, total (at purchasers’ prices) | 100.0 | 100.3 | 100.8 | 100.8 | 100.5 | 101.7 | |
The gross value added of services rose by 2.3% in total. The highest increase (5.3%) occurred in professional, scientific, technical and administrative activities. The value added of arts, recreation and other service activities grew by 4.6% and that of education by 3.0%. The performance of financial and insurance activities increased by 2.9% and that of information and communication by 2.4%. The performances of wholesale and retail trade and accommodation and food service activities both were up by 2.3%. The value added of human health and social work activities was 1.3%, that of public administration 1.1% and the value added of transportation and storage 0.4% higher than a year earlier. The value added of real estate activities diminished by 0.3%.
The largest positive contributor to the 1.7% increase in gross domestic product in the 1st quarter of 2026 was the performance of services (1.4 percentage points), within which mainly professional, scientific, technical and administrative activities (0.5 percentage point). The performance of industry helped the growth by 0.2 percentage point, while that of construction lowered the performance of the economy by 0.1 percentage point. The balance of taxes and subsidies on products raised the volume of GDP by 0.3 percentage point, while agriculture did not have a significant impact on gross domestic product.
Expenditure approach:
The actual final consumption of households was 4.9% higher than in the same period of the previous year. Household final consumption expenditure, representing the largest proportion of the components of the actual final consumption of households, rose by 5.5%. The (domestic) consumption expenditure of households realised on the territory of Hungary became 5.7% higher. The volume of domestic consumption expenditure increased in all durability groups: by 7.6% in the case of durable goods, by 7.9% for semi-durable goods, by 7.0% in the case of non-durable goods and by 4.1% for services.
The volume of social transfers in kind from the government became 1.2% and that of the actual final consumption of the government 5.4% higher. The volume of social transfers in kind from non-profit institutions serving households (NPISHs) went up by 7.5%.
As a result of the above trends, actual final consumption rose by 4.9%.
Gross fixed capital formation diminished by 0.1% in the 1st quarter compared to the corresponding period of the previous year. The volume of investments in construction lessened, while that of investments in machinery and equipment was up.
Gross capital formation became 12.2% larger compared to the same period of the previous year.
As a result of the trends of consumption and of capital formation, domestic use as a whole grew by 6.6% in the 1st quarter.
Volume indices of final use of gross domestic product (GDP)
(corresponding period of previous year = 100.0%)
| Items of use | 2025 | 2026 | ||||
|---|---|---|---|---|---|---|
| quarter(s) | ||||||
| I | II | III | IV | I–IV | I | |
| Household final consumption expenditure | 103.5 | 103.7 | 102.2 | 102.9 | 103.1 | 105.5 |
| Social transfers in kind from government | 101.7 | 100.6 | 102.0 | 101.5 | 101.5 | 101.2 |
| Social transfers in kind from NPISHs | 100.6 | 105.4 | 99.9 | 109.2 | 103.9 | 107.5 |
| Actual final consumption of households | 103.1 | 103.3 | 102.1 | 102.9 | 102.9 | 104.9 |
| Actual final consumption of government | 96.8 | 106.8 | 99.7 | 108.9 | 103.2 | 105.4 |
| Actual final consumption, total | 102.2 | 103.8 | 101.8 | 103.8 | 102.9 | 104.9 |
| Gross fixed capital formation | 95.8 | 95.1 | 97.6 | 99.8 | 97.2 | 99.9 |
| Changes in inventoriesa) | x | x | x | x | x | x |
| Acquisitions less disposals of valuablesa) | x | x | x | x | x | x |
| Gross capital formation, total | 102.0 | 94.5 | 103.7 | 101.3 | 100.5 | 112.2 |
| Domestic use, total | 102.0 | 101.5 | 102.5 | 103.2 | 102.3 | 106.6 |
| Exports, of which: | 99.1 | 99.0 | 99.3 | 98.3 | 98.9 | 98.2 |
| Exports of goods | 99.4 | 98.4 | 99.6 | 97.4 | 98.7 | 98.3 |
| Exports of services | 98.2 | 101.4 | 98.0 | 101.0 | 99.6 | 97.8 |
| Imports, of which: | 101.1 | 100.4 | 101.7 | 101.6 | 101.2 | 104.1 |
| Imports of goods | 101.0 | 101.2 | 103.7 | 103.1 | 102.2 | 105.7 |
| Imports of services | 101.7 | 96.6 | 93.3 | 95.1 | 96.5 | 96.8 |
| External balance of goods and servicesa) | x | x | x | x | x | x |
| Gross domestic product (GDP), total | 100.0 | 100.3 | 100.8 | 100.8 | 100.5 | 101.7 |
a) For these items, the volume index is not interpretable.
In the external trade of the economy, a surplus of 653 billion forints was generated at current prices. The volume of exports decreased by 1.8% and that of imports became 4.1% higher. In trade in goods, accounting for more than 80% of external trade, exports diminished by 1.7%, while imports rose by 5.7%. Within the external trade of the economy, the exports of services (including tourism) became 2.2% and their imports 3.2% lower compared to the same period of the previous year.
Actual final consumption contributed by 3.8 percentage points and gross capital formation by 2.4 percentage points to the 1.7% growth in gross domestic product in the 1st quarter of 2026, while the balance of external trade as a whole worsened the economic performance by 4.5 percentage points.
In 1st quarter 2026 compared to previous quarter, according to seasonally and calendar adjusted and reconciled data:
The performance of the economy rose by 0.8%.
From the production approach, the performance of agriculture went up by 6.5%, that of industry by 1.1% and the performance of services by 0.9%. The performance of construction decreased by 6.2%.
From the expenditure approach, the volume of household final consumption expenditure rose by 1.5%, that of social transfers in kind from the government by 0.1% and the volume of the actual final consumption of the government by 0.4% out of the components of actual final consumption. Gross fixed capital formation diminished by 0.1%. In external trade, the volume of imports increased by 2.5%, while that of exports became 0.6% lower.