Economy of Hungary
Population: 9.77 M (2018)
GDP per Capita: 16,162 USD (2018)
157,880 M.

GDP USD

(2018)

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134,100 M.

EXPORTS USD

(2018)

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127,200 M.

IMPORTS USD

(2018)

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66.30 %

PUBLIC DEBT

(2019)

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Data is provided by World Bank, FMI and Central Banks.

GDP and Economic Growth

Indicator Value
Economic Growth 5.09 % (2018)
GDP of 2010 USD USD 162.60 B. (2018)
GDP Current USD USD 157.88 B. (2018)
GDP per Capita Current USD USD 16,162 (2018)
GDP per capita, PPP USD 28,465 (2018)
GDP per Capita, 2010 USD USD 16,648 (2018)

Government spending and balances

Indicator Value
Government Spending % GDP 19.70 % (2018)
Government Spending USD 31.10 B. (2018)
Government Debt % GDP 66.30 % (2019)

International Trade and Investment

Indicator Value
Terms of Trade Base Year 2000 131.00 (2018)
Trade Openness 165.50 % (2018)
Exports of Goods and Services % GDP 84.94 % (2018)
Exports Goods & Services USD 134.10 B. (2018)
Exports Annual Growth 4.33 % (2018)
Imports as % GDP 80.57 % (2018)
Total Imports USD 127.20 B. (2018)
Foreign Direct Investment % GDP 54.65 % (2016)
Foreign Direct Investment USD 69.14 B. (2016)
Current Account Balance % GDP USD -0.43 % (2018)
Current Account Balance USD -0.68 B. (2018)
Trade Balance % GDP 4.37 % (2018)
Trade Balance USD 6.99 B. (2018)
Foreign Exchange Reserves incl Gold USD 31.37 B. (2018)
Remittances % GDP 3.08 % (2018)
Remittances USD 466 M. (2018)
Balance of Payments USD 471 M. (2012)

Labor Market

Indicator Value
Labor Force 4.67 M. (2019)
Unemployment Rate 3.46 % (2019)
Unemployment Rate Females 3.48 % (2019)
Unemployment Rate Males 3.33 % (2019)
Youth Unemployment (ages 15-24) 9.27 % (2019)
Labor Force Participation Rate 56.07 % (2019)
Labor Force (Percent Female) 45.54 % (2019)
Female Labor Force Participation Rate 48.32 % (2019)
Male Labor Force Participation Rate 64.82 % (2019)
Dependent People 50.53 % (2018)

Agriculture Sector

Indicator Value
Forest Area 22.90 % (2016)
Forest Area km² 20,736 km² (2016)
Agricultural Land 58.36 % (2016)
Agricultural Land km² 52,830 km² (2016)
Employment 4.94 % (2019)
Value added % GDP 3.55 % (2018)
Agriculture Value added USD 5.61 B. (2018)
Crop Production Index 90.40 (2016)
Precipitation 589 mm (2014)
Arable Land 48 % (2016)
Cereal Yield 5,779 kg/hectare (2017)
Food production index 87 (2016)
Rural Population 29 % (2018)
Fertilizer use of Arable Land 128 kg/hectare (2016)
Livestock Production Index 82 (2016)
Economy of Hungary

According to the World Bank and its latest published data, the economy of the Hungary presents a growth rate of 5.09 % (2018) to the previous year.

With a population that reaches 9.77 M (2018) and a gross domestic product of USD 157.88 B. (2018), it translates a Gross Domestic Product per Capita of USD 16,162 placing its inhabitants on the threshold of an High-income country (according to the World Bank's updated classification).

Hungary also has a workforce of 4.67 M. (2019) with an unemployment rate of 3.46 % (2019), where women represent 3.48 % (2019) and men 3.33 % (2019), the unemployment rate for young people between 15-24 years old stood at 9.27 % (2019). The total number of dependent people stands at 50.53 % (2018).

The central government spent 19.70 % (2018) of its gross domestic product that year, which in absolute terms is USD 31.10 B. (2018). Its consolidated public debt reached 66.30 of its GDP, exceeding the 35% risk limit used by the European Union.

Regarding its international trade, Hungary exported USD 134.10 B. (2018), which represents 84.94 % (2018) of its gross domestic product, in that same sense its imports reached USD 127.20 B. (2018) with a direct foreign investment of USD 69.14 B. (2016).

Hungary has a forest area of 20,736 km² (2016), which represents 22.90 % (2016) of its total area, an average rainfall of 589 mm (2014) per year and a population of 29 % (2018) living in rural areas. With a total area of 52,830 km² (2016) available for agriculture and 4.94 % (2019) of its employments, the agricultural sector contributes to the economy of the Hungary about USD 5.61 B. (2018) (3.55 % (2018) of its GDP).