Hungary’s gross domestic product expanded by 8.2% from a year earlier in the first quarter of 2022, in line with a preliminary estimate, faster than a 7.1% growth rate in the previous period. It marks the fourth consecutive quarter of economic expansion and at a solid pace. Strong performance was seen in accommodation & food services (80.8% vs 68.7% in Q4); transportation & storage (20.4% vs 20.3%); construction (18.3% vs 21.3%) and professional, scientific, technical and administrative activities (13.8% vs 9.4%). At the same time, output rose much faster in manufacturing (4.6% vs 1.9%), mainly driven by increases in the manufacture of fabricated metal products, except machinery and equipment, and food products. The agricultural sector, however, shrank (-3.9% vs -7.3%). On a seasonally adjusted quarterly basis, the economy grew 2.1%, matching an earlier estimate, following an upwardly revised 2.2% rise in the previous quarter. source: Hungarian Central Statistical Office
GDP Annual Growth Rate in Hungary averaged 2.56 percent from 1996 until 2022, reaching an all time high of 17.80 percent in the second quarter of 2021 and a record low of -13 percent in the second quarter of 2020. This page provides - Hungary GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Hungary GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on June of 2022.
GDP Annual Growth Rate in Hungary is expected to be 4.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Hungary GDP Annual Growth Rate is projected to trend around 3.50 percent in 2023 and 3.00 percent in 2024, according to our econometric models.