Hungary's GDP changed from approximately $23B 42M in 1980 to $223B 413M in 2024, showing an overall 869.6% sharply increased during the period.
The lowest GDP was recorded in 1984 at $21B 174M, and the highest in 2024 at $223B 413M.
Over the 44-year span, the GDP showed a overall increase with some decline trend, with an average annual growth rate of 5.3%.
For comparison, the average annual growth rate of Romania was 4.8%, and that of Slovakia was 7.8%.
Overview of Hungary's GDP (1980–2024)
The Gross Domestic Product (GDP) of Hungary recorded a 869.6% sharply increased from 1980 to 2024.
The average GDP during this period was $89B 943M, and the median was $67B 608M.
GDP fluctuated within a range of $202B 239M, with a standard deviation of $60B 186M.
The average annual change was $4B 368M.
Hungary GDP from 1980 to 2024
The total market value of goods and services produced annually in Hungary.
Data Source: International Monetary Fund
Image Source: Freepik from www.flaticon.com
Highest and Lowest GDP Records
- Lowest GDP: 1984, $21B 174M
- Highest GDP: 2024, $223B 413M
- Most Recent GDP: 2024, $223B 413M
Notable Annual GDP Changes
- 2023: Significant increase in GDP
- 2009: Noticeable drop in GDP
Overall pattern: overall increase with some decline
Global Economic Events and Hungary's GDP
COVID-19 Pandemic (2020)
- Period: From 2019 to 2020
- GDP Change: $164B 11M → $157B 227M
- Outcome: declined
2008 Global Financial Crisis
- Period: From 2007 to 2009
- GDP Change: $140B 187M → $131B 68M
- Outcome: declined
2001 Dot-com Bubble Burst
- Period: From 2000 to 2001
- GDP Change: $47B 218M → $53B 750M
- Outcome: sharply increased
1998 Asian Financial Crisis
- Period: From 1997 to 1998
- GDP Change: $47B 297M → $48B 707M
- Outcome: increased
Key Economic Indicators of Hungary (1980–2024)
| year | Nominal GDP | GDP per Capita | PPP per Capita | PPP GDP | GDP Growth | Current Account | Savings | Fiscal Balance | Population |
|---|---|---|---|---|---|---|---|---|---|
1980 | $ 23B 42M | $ 2,151.47 | $ 6,327.19 | $ 67B 763M | 0.215 % | -4.782 % | 27.47 % | 0 % | 10M 710K people |
1981 | $ 23B 629M | $ 2,207.13 | $ 7,127.01 | $ 76B 300M | 2.867 % | -5.794 % | 27.63 % | 0 % | 10M 706K people |
1982 | $ 24B 64M | $ 2,249.98 | $ 7,790.23 | $ 83B 317M | 2.841 % | -2.206 % | 27.25 % | 0 % | 10M 695K people |
1983 | $ 21B 839M | $ 2,046.40 | $ 8,171.59 | $ 87B 205M | 0.723 % | -0.829 % | 27.33 % | 0 % | 10M 672K people |
1984 | $ 21B 174M | $ 1,989.90 | $ 8,717.12 | $ 92B 754M | 2.658 % | 0.184 % | 23.45 % | 0 % | 10M 641K people |
1985 | $ 21B 441M | $ 2,022.96 | $ 9,005.25 | $ 95B 445M | -0.253 % | -2.122 % | 20.41 % | 0 % | 10M 599K people |
1986 | $ 24B 698M | $ 2,338.80 | $ 9,361.96 | $ 98B 862M | 1.535 % | -5.527 % | 19.09 % | 0 % | 10M 560K people |
1987 | $ 27B 144M | $ 2,582.85 | $ 10,030.74 | $ 105B 416M | 4.051 % | -2.49 % | 22.04 % | 0 % | 10M 509K people |
1988 | $ 29B 703M | $ 2,838.56 | $ 10,422.42 | $ 109B 62M | -0.065 % | -1.926 % | 21.54 % | 0 % | 10M 464K people |
1989 | $ 30B 323M | $ 2,909.70 | $ 10,955.58 | $ 114B 174M | 0.736 % | -1.939 % | 22.57 % | 0 % | 10M 422K people |
1990 | $ 34B 366M | $ 3,312.34 | $ 11,017.19 | $ 114B 305M | -3.497 % | 0.842 % | 24.91 % | 0 % | 10M 375K people |
1991 | $ 34B 754M | $ 3,350.24 | $ 10,036.97 | $ 104B 118M | -11.892 % | -3.589 % | 20.94 % | 0 % | 10M 373K people |
1992 | $ 38B 731M | $ 3,733.45 | $ 9,950.67 | $ 103B 228M | -3.064 % | -1.995 % | 16.29 % | 0 % | 10M 374K people |
1993 | $ 40B 125M | $ 3,871.07 | $ 10,136.24 | $ 105B 66M | -0.576 % | -12.152 % | 9 % | 0 % | 10M 365K people |
1994 | $ 43B 167M | $ 4,170.57 | $ 10,673.28 | $ 110B 472M | 2.947 % | -11.76 % | 13.26 % | 0 % | 10M 350K people |
1995 | $ 46B 426M | $ 4,491.22 | $ 11,188.34 | $ 115B 654M | 2.541 % | -3.493 % | 18.09 % | -0.512 % | 10M 337K people |
1996 | $ 46B 659M | $ 4,520.76 | $ 11,420.25 | $ 117B 868M | 0.082 % | -3.83 % | 21.66 % | 3.08 % | 10M 321K people |
1997 | $ 47B 297M | $ 4,591.49 | $ 12,005.58 | $ 123B 670M | 3.143 % | -4.06 % | 22.23 % | 1.615 % | 10M 301K people |
1998 | $ 48B 707M | $ 4,738.02 | $ 12,639.77 | $ 129B 937M | 3.9 % | -7.066 % | 22.21 % | -1.278 % | 10M 280K people |
1999 | $ 49B 73M | $ 4,786.24 | $ 13,247.09 | $ 135B 822M | 3.071 % | -7.89 % | 20.20 % | 0.824 % | 10M 253K people |
