Flag of Hungary>

Economy and Banking Sector of Hungary

Central Europe
EU Status
member since 2004

Hungary is a country in Central Europe , a member of the European Union since 2004.


HUF (Hungarian forint)
Population  (2019)
9,772,756  (0.00%)
Nominal GDP (2019)
143.8 bln EUR  (+0.08%)
Credit Ratings (as of Nov 2020)

Hungary is a high-income mixed economy. Major industries of the Hungarian economy include food processing, pharmaceuticals, motor vehicles, chemicals, metallurgy, machinery, and tourism.


Withholding tax rates in Hungary are 0.0-16.0 %. Hungary signed 77 double taxation agreements.
Hungary signed the automatic information exchange agreement on 29 October 2014 and committed to start the automatic information exchange in September 2017.
Hungary has FATCA agreement with the U.S. in effect since 04 February 2014 (Intergovernmental Agreement Model 1).

Banking Sector

Number of Banks
Consolidated Banking Assets (2019)
142.56 bln EUR  (+15.43%)
Deposit Guarantee
100,000 EUR

Hungarian banking sector is dominated by foreign-controlled banks from the neighbouring countries, operating as universal banks. Along with these banks, there are regional savings and mortgage banks and building societies.

Major Banks

See Also