National accounts, GDP

It is exceptionally important to us to provide more up-to-date information on the social and economic developments in our country, in addition to our regular and detailed publications.
Our WEEKLY MONITOR provides insights into trends in key areas through weekly, monthly and quarterly data from our interactive chart collection.
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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 approximately 500 tables, graphs and maps and tens of thousands of data the Statistical Yearbook of Hungary contains give, for almost one and a half century, an overview of the social and economic processes of the country in the given year. Besides paying attention to the ever changing socio-economic environment and user demands we always strive to share new information: the health chapter broadened this year with indices regarding outpatient care, time series of healthcare expenses, life expectancy in good health and the number of Covid19 infected people.

GDP was HUF 16,399 billion in Hungary in the 2nd quarter of 2022. Non-financial corporations and the general government sector were net borrowers, while the other sectors were net lenders in that quarter. The saving ratio of households and non-profit institutions serving households (NPISHs) reached 16%. Similarly to earlier quarters, the gross fixed capital formation rate of the total economy remained at a high level (29%).

In 2021, Hungary’s gross domestic product (GDP) at current prices was HUF 55 thousand billion, up 7.1 % on the previous year at constant prices. The amount of gross domestic product per capita was HUF 5.7 million, or EUR 24 thousand at purchasing power standard. The deficit of the general government sector amounted to HUF 3.9 thousand billion, or 7.1% of GDP.

The economic performance of Hungary surpassed in the 1st semester of 2022 the one year earlier level by 7.3%. Consumer prices year-on-year increase in the first seven months was 10%, producer prices, characteristically, grew at a several times faster pace. Compared to the high base caused by the pandemic, the number of deaths decreased by 14%, the natural decrease of the population in January-June 2022 amounted to 27 thousand people, 26% fewer year-on-year.

Our publication, also highlighting the main effects of the pandemic, gives an overview of the social and economic trends in Hungary in 2020, including a 5% drop in GDP, putting us in the middle of the EU ranking, taking into use 28,000 new homes, the highest number since 2009, a nearly threefold increase in the share of people working remotely or from home as compared to the average for the past 10 years, a 42% increase in the value of mail order and internet retailing, and fewer accidents on the roads.