Hungarian, English 25.3, German 12.6, Russian 2.1, French 1.5, Romanian 1.4, other 5.1
Economic Overview
Key economic indicators for Hungary
GDP:
$388.906 billion
GDP per Capita:
$40,500
GDP Growth:
-0.91%
Inflation:
17.12%
Unemployment:
4.13%
Public Debt:
75.53% of GDP
Credit Rating:
BBB (2019)
Political System
Governance structure of Hungary
Government Type:
parliamentary republic
Head of State:
President Tamas SULYOK (since 5 March 2024)
Head of Government:
Prime Minister Viktor ORBAN (since 29 May 2010)
Judiciary:
Curia or Supreme Judicial Court (consists of the president, vice president, department heads, and has a maximum of 113 judges, and is organized into civil, criminal, and administrative-labor departments; Constitutional Court (consists of 15 judges, including the court president and vice president)
Administrative Divisions:
19 counties (megyek, singular - megye), 25 cities with county rights (megyei jogu varosok, singular - megyei jogu varos), and 1 capital city (fovaros)
Major Political Parties
Not specified
International Relations
Global position and alliances
UN Member:
Yes
EU Member:
Yes
Diplomatic Presence:
1500 Rhode Island Avenue, N.W.Washington, D.C. 20005
Major Alliances and Organizations
EUNATOOECD
Economic Sectors & Trade
Detailed economic breakdown
Major Economic Sectors
Agriculture
4.7% (2023 est.)
Industry
24.3% (2023 est.)
Services
57.6% (2023 est.)note: figures may not total 100% due to non-allocated consumption not captured in sector-reported data
Trade Volume
Exports:
$172.662 billion
Imports:
$162.02 billion
Major Trading Partners
Germany 25
Italy 6
Romania 6
USA 5
Slovakia 4
Economic Outlook
Hungary has a -0.91% GDP growth rate with 17.12% inflation. The economy is characterized by a strong agriculture sector.