Facts & Statistics

Huge Hungarian economic development in the last period

Hungary is among the EU leaders in more and more indicators.

Looking at many statistics, Hungary is doing very well in economic terms, despite the pandemic and the war, Magyar Nemzet reports.

In 2021, Hungary stood at 76 percent of the European Union average in terms of purchasing power parity per capita. In terms of development, Hungary is ahead of Portugal, Romania, Latvia, Croatia, Slovakia, Greece and Bulgaria. 

Internationally, Hungary’s investment rate as a percentage of GDP has outperformed the weighted average of the EU and Visegrad countries, and Hungary is ranked second in the EU. 

Gross fixed capital formation in Hungary accounted for 27.1 percent of GDP, putting only Estonia ahead of Hungary in the European Union in this respect; meanwhile, the EU average is only 22 percent of GDP for investment.

Industrial production has successfully rebounded after the coronavirus epidemic, according to the latest data, with industrial production volume in February 2022 surpassing the previous year’s level by 4.5 percent. Construction output in February was 42.3 percent higher than a year earlier.

According to the latest statistics, Hungary currently has 242.6 job seekers per 1,000 people, compared to 287.8 last April and 330.7 in 202022, with unemployment at just 4.12 percent in April.

Between January 2020 and February 2022, there will be a significant increase in the change in the volume of retail sales. For 2022, it is expected that hospitality will exceed the 2019 level, with an increase of about 35.7 percent.

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