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World Factbook

Hungary

Last updated: 2026-03-28 (today)

Budget

note

note: central government revenues (excluding grants) and expenditures converted to US dollars at average official exchange rate for year indicated

revenues

$69.793 billion (2022 est.)

expenditures

$80.429 billion (2022 est.)

Exports

note

note: balance of payments - exports of goods and services in current dollars

Exports 2022

$158.98 billion (2022 est.)

Exports 2023

$173.034 billion (2023 est.)

Exports 2024

$166.503 billion (2024 est.)

Imports

note

note: balance of payments - imports of goods and services in current dollars

Imports 2022

$167.262 billion (2022 est.)

Imports 2023

$163.192 billion (2023 est.)

Imports 2024

$154.077 billion (2024 est.)

Industries

mining, metallurgy, construction materials, processed foods, textiles, chemicals (especially pharmaceuticals), motor vehicles

Labor force

4.954 million (2024 est.)

note: number of people ages 15 or older who are employed or seeking work

Public debt

note

note: central government debt as a % of GDP

Public debt 2022

75.3% of GDP (2022 est.)

Remittances

note

note: personal transfers and compensation between resident and non-resident individuals/households/entities

Remittances 2022

2.2% of GDP (2022 est.)

Remittances 2023

2.4% of GDP (2023 est.)

Remittances 2024

2.3% of GDP (2024 est.)

Exchange rates

Currency

forints (HUF) per US dollar -

Exchange rates 2020

307.997 (2020 est.)

Exchange rates 2021

303.141 (2021 est.)

Exchange rates 2022

372.596 (2022 est.)

Exchange rates 2023

353.088 (2023 est.)

Exchange rates 2024

365.691 (2024 est.)

Economic overview

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

Unemployment rate

note

note: % of labor force seeking employment

Unemployment rate 2022

3.7% (2022 est.)

Unemployment rate 2023

4.2% (2023 est.)

Unemployment rate 2024

4.5% (2024 est.)

Exports - partners

Germany 25%, Italy 6%, Romania 6%, USA 5%, Slovakia 4% (2023)

note: top five export partners based on percentage share of exports

Imports - partners

Germany 23%, China 7%, Austria 6%, Poland 6%, S. Korea 6% (2023)

note: top five import partners based on percentage share of imports

Real GDP per capita

note

note: data in 2021 dollars

Real GDP per capita 2022

$40,700 (2022 est.)

Real GDP per capita 2023

$40,400 (2023 est.)

Real GDP per capita 2024

$40,700 (2024 est.)

Real GDP growth rate

note

note: annual GDP % growth based on constant local currency

Real GDP growth rate 2022

4.3% (2022 est.)

Real GDP growth rate 2023

-0.8% (2023 est.)

Real GDP growth rate 2024

0.5% (2024 est.)

Agricultural products

maize, wheat, barley, milk, sunflower seeds, sugar beets, rapeseed, apples, pork, grapes (2023)

note: top ten agricultural products based on tonnage

Exports - commodities

cars, vehicle parts/accessories, electric batteries, packaged medicine, computers (2023)

note: top five export commodities based on value in dollars

Imports - commodities

vehicle parts/accessories, natural gas, integrated circuits, broadcasting equipment, industrial acids/oils/alcohols (2023)

note: top five import commodities based on value in dollars

Current account balance

note

note: balance of payments - net trade and primary/secondary income in current dollars

Current account balance 2022

-$14.699 billion (2022 est.)

Current account balance 2023

$751.071 million (2023 est.)

Current account balance 2024

$5.074 billion (2024 est.)

Taxes and other revenues

23.4% (of GDP) (2022 est.)

note: central government tax revenue as a % of GDP

GDP (official exchange rate)

$222.905 billion (2024 est.)

note: data in current dollars at official exchange rate

GDP - composition, by end use

note

note: figures may not total 100% due to rounding or gaps in data collection

household consumption

49.1% (2023 est.)

government consumption

19.9% (2023 est.)

investment in inventories

0.3% (2023 est.)

investment in fixed capital

25.6% (2023 est.)

exports of goods and services

80.8% (2023 est.)

imports of goods and services

-76.3% (2023 est.)

Population below poverty line

12.1% (2021 est.)

note: % of population with income below national poverty line

Average household expenditures

on food

16.8% of household expenditures (2023 est.)

on alcohol and tobacco

7% of household expenditures (2023 est.)

Inflation rate (consumer prices)

note

note: annual % change based on consumer prices

Inflation rate (consumer prices) 2022

14.6% (2022 est.)

Inflation rate (consumer prices) 2023

17.1% (2023 est.)

Inflation rate (consumer prices) 2024

3.7% (2024 est.)

Industrial production growth rate

-2.5% (2024 est.)

note: annual % change in industrial value added based on constant local currency

Real GDP (purchasing power parity)

note

note: data in 2021 dollars

Real GDP (purchasing power parity) 2022

$390.513 billion (2022 est.)

Real GDP (purchasing power parity) 2023

$387.223 billion (2023 est.)

Real GDP (purchasing power parity) 2024

$389.207 billion (2024 est.)

Youth unemployment rate (ages 15-24)

male

14.8% (2024 est.)

note

note: % of labor force ages 15-24 seeking employment

total

14.1% (2024 est.)

female

13.1% (2024 est.)

Reserves of foreign exchange and gold

note

note: holdings of gold (year-end prices)/foreign exchange/special drawing rights in current dollars

Reserves of foreign exchange and gold 2022

$41.219 billion (2022 est.)

Reserves of foreign exchange and gold 2023

$45.719 billion (2023 est.)

Reserves of foreign exchange and gold 2024

$46.422 billion (2024 est.)

GDP - composition, by sector of origin

note

note: figures may not total 100% due to non-allocated consumption not captured in sector-reported data

industry

23.9% (2024 est.)

services

59.7% (2024 est.)

agriculture

2.4% (2024 est.)

Household income or consumption by percentage share

note

note: % share of income accruing to lowest and highest 10% of population

lowest 10%

2.8% (2022 est.)

highest 10%

24.4% (2022 est.)

Gini Index coefficient - distribution of family income

note

note: index (0-100) of income distribution; higher values represent greater inequality

Gini Index coefficient - distribution of family income 2022

30.2 (2022 est.)