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.
Most WEEKLY MONITOR charts can also be downloaded in image and data formats (PNG, SVG and CSV).

GDP was HUF 13,837 billion in Hungary in the 3rd quarter of 2021. Non-financial corporations and the general government sector were net borrowers, while households and financial corporations were net lenders in that quarter. The saving ratio of households and non-profit institutions serving households (NPISHs) decreased to 11%. The gross fixed capital formation rate of the total economy (32%) remained at a high level.

37% of gross domestic product (GDP) was concentrated in Budapest and 11% in Pest County, and the rest of the counties accounted for 1–6% each of Hungary’s economic performance in 2020. The disparities in the level of development within the country decreased somewhat between 2010 and 2020 but remained significant. The value of GDP per inhabitant was outstandingly high in the capital, over twice as high as the domestic average, while it did not reach even the half of the national average in Nógrád County, at the bottom of the regional rankings.

The volume of gross domestic product increased by 6.1% in Hungary in the 3rd quarter of 2021 compared to the corresponding period of the previous year. According to seasonally and calendar adjusted and reconciled data, the performance of the economy rose by 0.7% compared to the previous quarter and by 6.1% compared to the corresponding period of the previous year. In the 1st–3rd quarters of 2021, the economic performance was 7.1% higher (6.8% higher according to seasonally and calendar adjusted and reconciled data) than in the same period of the previous year.

The performance of the Hungarian economy surpassed in the 1st semester of 2021 the previous year’s low base by 7.6% and it was slightly (by 1.2%) higher than two years ago. Industry was the main driving force, its gross added value grew by 19% compared to the 1st half of 2020, contributing to the GDP increase by 3.9 percentage points. On the expenditure side the growth has been facilitated mostly by the external trade (by 4.1 percentage points),within it mainly by the trade in goods.

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.

Hungary’s gross domestic product (GDP) at current prices was nearly HUF 48 thousand billion in 2020, decreasing by 4.7% at constant prices compared to the previous year. The amount of gross domestic product per capita was HUF 4.9 million, or EUR 22 thousand in purchasing power standard. The deficit of the general government sector was HUF 3.8 thousand billion, 8.0% of GDP.

The yearbook presents how demographic, socio-economic trends and environmental characteristics changed over time in Hungary. The main indicators are illustrated in time series or regional comparisons by charts and maps; the interactive versions of these are available on our website. Spatial disparities among counties and regions as well as international indicators are presented in separate chapters. The internet annex contains the publication in PDF format and all tables in Excel format.