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Hungary's GDP Grows by 4.6% in 2022

• 15 Feb 2023 7:56 AM
• Budapest Business Journal

Hungary's GDP grew by 4.6% in 2022, but the country's economic performance in Q4 was actually lower than in Q3, according to data published by the Central Statistical Office (KSH).

Hungary’s gross domestic product increased by 0.4% according to raw data and by 0.9% according to seasonally and calendar-adjusted and reconciled data in the last quarter of 2022 compared to the corresponding period of the previous year.

There were significant growths compared to a year earlier especially in the manufacture of motor vehicles, trailers, and semi-trailers, as well as that of electrical equipment within industry and mostly in real estate activities as well as transportation and storage among market services.

A considerable downturn in agriculture slowed the increase.

However, compared to the previous quarter, the economic performance diminished by 0.4% according to seasonally and calendar-adjusted and reconciled data.

Hungary's GDP grew by 4.6% in 2022, after a 7.1% growth in 2021.

The European Commission raised its projection for Hungary's 2023 GDP growth to 0.6% in a winter forecast released yesterday.

Related links

EC Raises Hungary 2023 GDP Growth Forecast

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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.

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