Economic Weight Of Industry In Hungary Among Highest In Eu
- 28 Oct 2016 9:00 AM
Industry accounted for 27.8% of gross value added (GVA) in Hungary last year, among the highest rates in the European Union, data compiled by Eurostat show. Only the rates in the Czech Republic (32.1) and Ireland (39.1) were higher among member states, although Eurostat noted that the picture for Ireland is skewed because of the relocation of a limited number of big economic operators to the country.
The rates in neighbouring countries are close to Hungary’s: 27.3% in Slovenia, 27% in Slovakia, 26.4% in Romania and 26.3 % in Poland.
The Eurostat data show people working in industry in Hungary accounted for 19.8% of the total number of employed.
Those employed in public administration, defence, education, human health and social work accounted for 22.8% of the total, generating just 17.3% of GVA. GVA is output minus intermediate consumption. It usually accounts for more than 90% of GDP.
Republished with permission of Hungary Matters, MTI’s daily newsletter.
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