National accounts, GDP

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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.

The volume of Hungary’s gross domestic product stagnated according to raw data and was 0.4% lower according to seasonally and calendar adjusted and reconciled data in the 1st quarter of 2025 than in the corresponding period of the previous year. Compared to the previous quarter, the economic performance lessened by 0.2% according to seasonally and calendar adjusted and reconciled data.

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 4th quarter of 2024. The gross saving rate of households and NPISHs came to 17% and their gross investment rate to 6.6%. The gross profit share of non-financial corporations reached 41% and their gross investment rate 29%.

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.

The yearbook provides an overview of Hungary's demographic, social and economic processes, environmental characteristics and their changes over time, with the help of tens of thousands of data of 500 tables, graphs and maps. Innovatively, the Tourism, catering chapter in the volume includes the gross receipts of tourist accommodation establishments by type of accommodation. Another change is that this year the Regional data chapter already presents territorial data by tourism area, giving greater emphasis to tourist destinations.

Geopolitical tensions continued to overshadow economic developments in 2023, with the gross domestic product falling by 0.9%. Inflationary pressures gradually eased, but the 17.6% annual increase in consumer prices led to a decline in real earnings and consumption, and negatively affected investment decisions. Despite the economic difficulties, employment has reached a record high. In 2023, the number of deaths and births continued to fall, in addition to the decrease in the number of women of childbearing age.