• Home
• Channel: Finance
• Hungary Adding Less Than 1% Share Of EU GDP

Hungary Adding Less Than 1% Share Of EU GDP

• 17 May 2018 6:56 AM
• Budapest Business Journal

In 2017, the combined gross domestic product (GDP) of the European Union amounted to some EUR 15.3 trillion at current prices. Over half of this was generated by three Member States: Germany, the United Kingdom, and France. Hungary, meanwhile, contributed 0.8%, show data from Eurostat, the EUʼs statistics office.

With GDP of almost EUR 3.3 tln last year, Germany reinforced its position as the leading EU economy, accounting for over a fifth (21.3%) of total EU GDP, according to figures released by Eurostat.

Although its share of the EUʼs GDP decreased by 0.9 of a percentage point between 2016 and 2017, the United Kingdom (15.2%) retained its second position, just ahead of France (14.9%). The top three were followed by Italy (11.2%), Spain (7.6%), and the Netherlands (4.8%).

At the opposite end of the scale, eleven Member States had a GDP of less than 1% of the EU total. These were: Malta, Cyprus, Estonia, Latvia, Lithuania, Slovenia, Croatia, Bulgaria, Luxembourg, Slovakia and Hungary, the latterʼs 0.8% share being the highest among them.

The 19 Member States which form the euro area had a combined GDP of nearly EUR 11.2 tln in 2017. The euro area thus accounted for 72.9% of the EU’s GDP. Germany (29.2%) and France (20.5%) together comprised half of the euro areaʼs GDP, while Italy (15.4%) and Spain (10.4%) made up a quarter.

• How does this content make you feel?
• I love it
• I like it
• I dislike it

• EU GDP EU Economy Eurostat

XpatLoop Media Partner

Budapest Business Journal

Hungary's largest and oldest source of business and financial news in English. Since 1992 it has presented essential information on Hungarian business life, including international analyses about the country. These days the BBJ newspaper is published every other week, while it releases daily business news online including premium paid content.

Explore More Reports

What is Minimum Wage in Hungary Compared to Euro Countries?

• 8 Aug 2024 9:32 AM

Hungary’s effective minimum wage is midfield in European Union comparison, the national economy ministry said in a statement. The ministry said certain media outlets had repeatedly distorted Eurostat figures, claiming that Hungary was one rung from bottom on the EU minimum wage list.



Romania Overtakes Hungary in Per Capita GDP

• 27 Mar 2024 12:24 PM

Romania’s per capita GDP (measured in purchasing power parity) reached 78% of the EU average in 2023, ahead of Hungary’s 76%, Portfolio writes, citing preliminary data from Eurostat.



Is High Inflation in Hungary Really Caused by the War in Ukraine?

• 13 Nov 2023 6:40 AM

Consumer prices in Hungary were 16 percent higher in August than a year earlier, as the Hungarian government continues to talk of wartime inflation.



Romania Overtakes Hungary in GDP Per Capita

• 13 Oct 2023 12:00 PM

Romania’s per capita GDP, calculated at purchasing power parity, stood at 76.7% of the EU average in 2022, surpassing the 76.6% figure for Hungary, according to final figures released by Eurostat on Thursday.