high-income EU and OECD economy; modest recovery from 2024 recession driven by private consumption and moderated inflation; challenges include high fiscal deficits, frozen access to EU funds, and risks from export reliance; implementing tax exemptions, price controls, and mortgage interest caps ahead of 2026 elections
. Key agricultural products in this country include: maize, wheat, barley, milk, sunflower seeds, sugar beets, rapeseed, apples, pork, grapes (2023).Labor force | 4.955 million (2024 est.) |
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Industrial production growth rate | -5.16% (2023 est.) |
Industries | mining, metallurgy, construction materials, processed foods, textiles, chemicals (especially pharmaceuticals), motor vehicles |
Population below poverty line | 12.1% (2021 est.) |
Taxes and other revenues | 23.4% (of GDP) (2022 est.) |
Fiscal year | |
Exchange rates | |
Currency | forints (HUF) per US dollar - |
Exchange rates 2024 | 365.691 (2024 est.) |
Exchange rates 2023 | 353.088 (2023 est.) |
Exchange rates 2022 | 372.596 (2022 est.) |
Exchange rates 2021 | 303.141 (2021 est.) |
Exchange rates 2020 | 307.997 (2020 est.) |
Reserves of foreign exchange and gold | |
Reserves of foreign exchange and gold 2024 | $37.194 billion (2024 est.) |
Reserves of foreign exchange and gold 2023 | $45.719 billion (2023 est.) |
Reserves of foreign exchange and gold 2022 | $41.219 billion (2022 est.) |
Current account balance | |
Current account balance 2023 | $1.673 billion (2023 est.) |
Current account balance 2022 | -$14.728 billion (2022 est.) |
Current account balance 2021 | -$7.062 billion (2021 est.) |
Public debt | |
Public debt 2022 | 75.5% of GDP (2022 est.) |
Budget | |
Revenues | $69.793 billion (2022 est.) |
Expenditures | $75.081 billion (2022 est.) |
Budget surplus (+) or deficit (-) | |
Remittances | |
Remittances 2023 | 2.39% of GDP (2023 est.) |
Remittances 2022 | 2.23% of GDP (2022 est.) |
Remittances 2021 | 2.08% of GDP (2021 est.) |
Household income | |
Lowest 10% | 3.5% (2021 est.) |
Highest 10% | 24.1% (2021 est.) |
Average household expenditures | |
On food | 16.8% of household expenditures (2023 est.) |
On alcohol and tobacco | 7% of household expenditures (2023 est.) |
Imports | |
Imports 2023 | $162.02 billion (2023 est.) |
Imports 2022 | $167.262 billion (2022 est.) |
Imports 2021 | $145.191 billion (2021 est.) |
Imports (partners) | Germany 23%, China 7%, Austria 6%, Poland 6%, S. Korea 6% (2023) |
Comodities Imports force | vehicle parts/accessories, natural gas, integrated circuits, broadcasting equipment, industrial acids/oils/alcohols (2023) |
Exports | |
Imports 2023 | $162.02 billion (2023 est.) |
Imports 2022 | $167.262 billion (2022 est.) |
Imports 2021 | $145.191 billion (2021 est.) |
Exports (partners) | Germany 25%, Italy 6%, Romania 6%, USA 5%, Slovakia 4% (2023) |
Comodities Exports force | cars, vehicle parts/accessories, electric batteries, packaged medicine, computers (2023) |
Real GDP (purchasing power parity) | |
Real GDP (purchasing power parity) 2023 | $388.906 billion (2023 est.) |
Real GDP (purchasing power parity) 2022 | $392.468 billion (2022 est.) |
Real GDP (purchasing power parity) 2021 | $375.268 billion (2021 est.) |
GDP (official exchange rate) | $212.389 billion (2023 est.) |
Real GDP Per capita | |
Real GDP per capita 2023 | $40,500 (2023 est.) |
Real GDP per capita 2022 | $40,700 (2022 est.) |
Real GDP per capita 2021 | $38,600 (2021 est.) |
GDP - composition, by sector of origin | |
Agriculture | 4.7% (2023 est.) |
Industry | 24.3% (2023 est.) |
Services | 57.6% (2023 est.) |
GDP - composition, by end use | |
Household consumption | 49.5% (2023 est.) |
Government consumption | 20% (2023 est.) |
Investment in fixed capital | 26.3% (2023 est.) |
Investment in inventories | -1% (2023 est.) |
Exports of goods and services | 81.2% (2023 est.) |
Imports of goods and services | -76.1% (2023 est.) |
Unemployment rate | |
Unemployment rate 2024 | 4.4% (2024 est.) |
Unemployment rate 2023 | 4.1% (2023 est.) |
Unemployment rate 2022 | 3.6% (2022 est.) |
Youth unemployment rate (ages 15-24) | |
Total | 14.1% (2024 est.) |
Male | 14.8% (2024 est.) |
Female | 13.1% (2024 est.) |
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