Markets Actual Q1 Q2 Q3 Q4 2022
Currency 300.21 302 304 306 307 311
Stock Market (points) 43790.17 43058 42138 41236 40352 38583
Government Bond 10Y (%) 2.73 2.84 2.95 3.06 3.18 3.42

Overview Actual Q1 Q2 Q3 Q4 2022
GDP Growth Rate (%) 1.10 -0.3 2.3 2.8 1.3 0.9
GDP Annual Growth Rate (%) -3.70 -2.2 12.1 6 3.8 2.6
Unemployment Rate (%) 4.30 6.5 6.7 6.7 5.8 4.9
Inflation Rate (%) 2.70 2.5 3.4 2.6 2.4 2.4
Inflation Rate Mom (%) 0.90 0.2 -0.1 -0.1 0.3 0.3
Interest Rate (%) 0.60 0.6 0.6 0.6 1 1
Balance of Trade (HUF Million) 109947.25 90000 120000 170000 110000 110000
Current Account (EUR Million) 752.01 40 1100 1100 -100 -100
Current Account to GDP (%) -0.80 1.4 1.4 1.4 1.4 1.2
Government Debt to GDP (%) 66.30 74 74 74 74 72
Government Budget (% of GDP) -2.00 -4.4 -4.4 -4.4 -4.4 -3.9
Business Confidence (points) -11.50 -9 -7 -9 -12 -3
Consumer Confidence (points) -34.90 -27 -14 -17 -20 -12
Retail Sales MoM (%) -0.20 0.9 0.7 0.7 0.5 0.5
Corporate Tax Rate (%) 9.00 9 9 9 9 9
Personal Income Tax Rate (%) 15.00 15 15 15 15 15

GDP Actual Q1 Q2 Q3 Q4 2022
GDP Growth Rate (%) 1.10 -0.3 2.3 2.8 1.3 0.9
GDP Annual Growth Rate (%) -3.70 -2.2 12.1 6 3.8 2.6
GDP (USD Billion) 160.97 148 148 148 148 155
GDP Constant Prices (HUF Million) 10115492.00 9245262 9852871 10722422 10499881 10772878
Gross Fixed Capital Formation (HUF Million) 2428322.00 2525294 2688291 2574021 2520598 2586134
GDP per capita (USD) 17466.00 17100 17100 17100 17100 18400
GDP per capita PPP (USD) 32622.90 32800 32800 32800 32800 34200
GDP From Agriculture (HUF Million) 349676.00 350863 397177 370657 362964 372401
GDP From Construction (HUF Million) 340374.00 417568 397689 360796 353308 362494
GDP From Manufacturing (HUF Million) 1935896.00 1903030 1709589 2052050 2009460 2061706
GDP From Public Administration (HUF Million) 1258243.00 1228485 1237261 1333738 1306056 1340014
GDP From Services (HUF Million) 5454065.00 5576471 5559008 5781309 5661319 5808514
GDP From Transport (HUF Million) 464395.00 560022 476464 492259 482042 494575

Labour Actual Q1 Q2 Q3 Q4 2022
Unemployment Rate (%) 4.30 6.5 6.7 6.7 5.8 4.9
Youth Unemployment Rate (%) 11.60 13.9 14.1 14.1 13.2 13.2
Labour Costs (points) 125.90 153 163 135 136 147
Wages (HUF/Month) 449442.00 430415 453795 422168 473306 512117
Wage Growth (%) 10.60 7.5 7.6 7.6 8 8.2
Minimum Wages (EUR/Month) 442.44 440 440 440 440 480
Population (Million) 9.77 9.72 9.72 9.72 9.72 9.7
Retirement Age Women 64.00 64.5 64.5 64.5 64.5 64.5
Retirement Age Men 64.00 64.5 64.5 64.5 64.5 64.5

Prices Actual Q1 Q2 Q3 Q4 2022
Inflation Rate (%) 2.70 2.5 3.4 2.6 2.4 2.4
Inflation Rate Mom (%) 0.90 0.2 -0.1 -0.1 0.3 0.3
Harmonised Consumer Prices (points) 115.12 115 117 117 117 120
Consumer Price Index CPI (points) 1380.20 1384 1401 1399 1400 1434
Core Consumer Prices (points) 472.30 474 476 481 484 498
Core Inflation Rate (%) 4.20 3.4 3.4 3.4 3 3
Producer Prices (points) 118.60 103 103 103 103 103
Producer Prices Change (%) 6.80 3.8 3.3 3.3 2.7 2.8
CPI Transportation (points) 99.00 102 102 102 102 102
Food Inflation (%) 3.40 4.5 4.5 4.5 3.6 3.6

Money Actual Q1 Q2 Q3 Q4 2022
Interest Rate (%) 0.60 0.6 0.6 0.6 1 1
Interbank Rate (%) 0.76 0.75 0.75 0.75 0.53 1.15
Deposit Interest Rate (%) -0.05 -0.05 -0.05 -0.05 0.3 0.3
Private Debt to GDP (%) 133.37 125 125 125 119 119

Trade Actual Q1 Q2 Q3 Q4 2022
Balance of Trade (HUF Million) 109947.25 90000 120000 170000 110000 110000
Current Account (EUR Million) 752.01 40 1100 1100 -100 -100
Current Account to GDP (%) -0.80 1.4 1.4 1.4 1.4 1.2
Imports (HUF Million) 2914313.11 2950000 2670000 2670000 2530000 2590000
Exports (HUF Million) 3024260.36 3070000 2840000 2840000 2640000 2640000

Government Actual Q1 Q2 Q3 Q4 2022
Government Debt to GDP (%) 66.30 74 74 74 74 72
Government Budget (% of GDP) -2.00 -4.4 -4.4 -4.4 -4.4 -3.9
Government Budget Value (HUF Billion) 198.80 -1610 -1550 50 220 -1190
Government Spending (HUF Million) 904576.00 846626 1091288 958851 938950 963363
Government Spending to GDP (%) 46.10 48 48 48 48 46.5
Government Revenues (HUF Billion) 3006.32 1590 1850 2250 2980 3410
Fiscal Expenditure (HUF Billion) 5256.80 3200 3400 2200 4550 4600

Taxes Actual Q1 Q2 Q3 Q4 2022
Corporate Tax Rate (%) 9.00 9 9 9 9 9
Personal Income Tax Rate (%) 15.00 15 15 15 15 15
Sales Tax Rate (%) 27.00 27 27 27 27 27
Social Security Rate (%) 39.50 42 39.5 39.5 42 42
Social Security Rate For Companies (%) 21.00 23.5 21 21 23.5 23.5
Social Security Rate For Employees (%) 18.50 18.5 18.5 18.5 18.5 18.5

Business Actual Q1 Q2 Q3 Q4 2022
Business Confidence (points) -11.50 -9 -7 -9 -12 -3
Industrial Production (%) 5.80 6.2 9.8 7.2 6.1 3.2
Manufacturing PMI (points) 54.92 50.8 53.5 52.5 52 52.5

Consumer Actual Q1 Q2 Q3 Q4 2022
Consumer Confidence (points) -34.90 -27 -14 -17 -20 -12
Retail Sales MoM (%) -0.20 0.9 0.7 0.7 0.5 0.5
Retail Sales YoY (%) -4.00 1.9 9.5 9.5 4.2 0.5
Consumer Spending (HUF Million) 5822204.00 5883640 6256865 6171536 6043448 6200577
Bank Lending Rate (%) 1.85 1.85 1.85 1.85 1.25 2.25
Consumer Credit (HUF Billion) 988.28 898 1050 1031 1026 1053
Gasoline Prices (USD/Liter) 1.36 1.24 1.17 1.11 1.06 1.01

Housing Actual Q1 Q2 Q3 Q4 2022
Construction Output (%) -0.30 2.5 3.2 3.2 4.5 2.8


This page has economic forecasts for Hungary including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Hungary economy.