Hungary’s gross domestic product declined by 0.7% in the third quarter of 2024, confirming preliminary estimates and following a 0.2% drop in the previous quarter. GDP Growth Rate in Hungary averaged 0.60 percent from 1995 until 2024, reaching an all time high of 11.70 percent in the third quarter of 2020 and a record low of -14.50 percent in the second quarter of 2020. source: Hungarian Central Statistical Office

The Gross Domestic Product (GDP) in Hungary contracted 0.70 percent in the third quarter of 2024 over the previous quarter.

The Gross Domestic Product (GDP) in Hungary contracted 0.70 percent in the third quarter of 2024 over the previous quarter. GDP Growth Rate in Hungary is expected to be 0.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Hungary GDP Growth Rate is projected to trend around 0.70 percent in 2025 and 0.50 percent in 2026, according to our econometric models.




Calendar GMT Reference Actual Previous Consensus TEForecast
2024-10-30 07:30 AM QoQ Prel Q3 -0.7% -0.2% 0.1%
2024-12-03 07:30 AM QoQ Final Q3 -0.7% -0.2% -0.7% -0.7%
2025-01-30 07:30 AM QoQ Prel Q4 -0.7% 0.8%


Related Last Previous Unit Reference
Full Year GDP Growth -0.90 4.60 percent Dec 2023
GDP Growth Rate YoY -0.80 1.50 percent Sep 2024
GDP Constant Prices 14735816.00 14541915.00 HUF Million Sep 2024
GDP from Agriculture 423726.00 443583.00 HUF Million Sep 2024
GDP from Construction 670424.00 699931.00 HUF Million Sep 2024
GDP from Manufacturing 2217127.00 2229076.00 HUF Million Sep 2024
GDP from Public Administration 2049815.00 2045527.00 HUF Million Sep 2024
GDP from Services 8689818.00 8680444.00 HUF Million Sep 2024
GDP from Transport 697435.00 699314.00 HUF Million Sep 2024
GDP Growth Rate -0.70 -0.20 percent Sep 2024
Gross Fixed Capital Formation 2990161.00 3090297.00 HUF Million Sep 2024

Hungary GDP Growth Rate
In Hungary, household consumption is the main component of GDP and accounts for 50 percent of its total use, followed by gross fixed capital formation (22 percent) and government expenditure (20 percent). Exports of goods and services account for 89 percent of GDP while imports account for 82 percent, adding 7 percent of total GDP.
Actual Previous Highest Lowest Dates Unit Frequency
-0.70 -0.20 11.70 -14.50 1995 - 2024 percent Quarterly
SA