National accounts, GDP

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The volume of Hungary’s gross domestic product grew by 0.1% according to raw data and by 0.2% according to seasonally and calendar adjusted and reconciled data in the 2nd quarter of 2025 than in the corresponding period of the previous year. Compared to the previous quarter, the economic performance increased by 0.4% according to seasonally and calendar adjusted and reconciled data. In the first half of the year, the performance of the economy stagnated according to raw data and was 0.1% lower according to seasonally and calendar adjusted and reconciled data compared to the same period of the previous year.

According to seasonally and calendar adjusted data, financial corporations as well as households and non-profit institutions serving households (NPISHs) were in a net lending, while non-financial corporations and general government in a net borrowing position in the 1st quarter of 2025. The gross saving rate of households and NPISHs came to 17% and their gross investment rate to 6.4%. The gross profit share of non-financial corporations reached 38% and their gross investment rate 28%.

The performance of the Hungarian economy in the 1st quarter of 2025 was identical with the same period of the previous year’s level. Increasing performance in the service sector as well as the growth in consumption had a positive impact on the GDP. The continuing setback of the industry and construction, a subdued investment activity, the deterioration in the balance of the external trade counterbalanced this trend. Regarding the labour market, employment rate – considering the 1st quarters’ values – was the highest ever, while the unemployment rate lessened.

Hungary’s GDP increased by 0.5% amid global challenges in 2024. The performance of goods-producing industries lessened, while that of service-providing ones rose, which shows the duality of economic trends. Household consumption picked up, which was considerably encouraged by the purchasing power of earnings growing again with the inflationary wave calming down. Besides, the data series reveal that the level of employment reached another peak.

Hungary’s gross domestic product (GDP) was HUF 75,087 billion in 2023, its volume being 0.9% lower than a year earlier. The amount of gross domestic product per capita amounted to HUF 7.8 million. The deficit of the general government sector was HUF 5,035.1 billion in 2023, which corresponded to 6.7% of GDP. Our publication contains, in addition to preliminary data for 2023, data revised for earlier years as a result of international and domestic methodological changes and of newly used data sources.