Hungary's gross domestic product advanced 17.9 percent from a year earlier in the second quarter of 2021, in line with preliminary estimates, and rebounding from four straight quarters of recession amid the pandemic crisis. It was the highest growth rate of the Hungarian economy on record, given the low base year effects. Output rose sharply in most sectors, notably in accommodation services & hospitality (71.5 percent vs -47.7 percent in Q1); manufacturing activities (39.9 percent vs 4.1 percent); education (23.2 percent vs -2.3 percent); the building industry (18.4 percent vs -2.4 percent); and arts, entertainment & other services (17.1 percent vs -9.4 percent). On a quarterly basis, economic growth was confirmed at 2.7 percent, picking up momentum from a 2.0 percent expansion in the first quarter. source: Hungarian Central Statistical Office
GDP Annual Growth Rate in Hungary averaged 2.42 percent from 1996 until 2021, reaching an all time high of 17.90 percent in the second quarter of 2021 and a record low of -13.30 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 September of 2021.
GDP Annual Growth Rate in Hungary is expected to be 5.70 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 4.10 percent in 2022 and 3.20 percent in 2023, according to our econometric models.