Flag of Hungary>

Economy and Banking Sector of Hungary

National Currency

Hungarian Forint (HUF)

Exchange Rate

1 EUR = 360.78 HUF (2020-09-18)

During the last 11 years EURHUF exchange rate was within the range 264.50 - 329.77, reaching its maximum in Jun 2018 and falling to its minimum in Apr 2011.

Euro to Hungarian forint (EURHUF).

Chart 1. Euro to Hungarian forint (EURHUF). Source: ECB.

GDP

Nominal GDP (2019)
143.8 bln EUR  (+0.08%)
Nominal GDP per Capita (2019)
14,720 EUR  (+0.08%)
Real GDP Growth (2019)
4.9 % (unchanged)

According to Eurostat, nominal GDP of Hungary in 2019 was 143.8 bln EUR.

Hungary outperforms the European Union in terms of real GDP growth with the average annual differential coming to 1.3% over the past 10 years (2009 - 2019). In 2019 real GDP growth was 4.9% which was above the Euro Area average (1.2%) and above the European Union average (1.5%). Real GDP growth in 2020 - 2024 are IMF's estimates.

Real GDP Growth in Hungary.

Chart 2. Real GDP Growth in Hungary. Source: Eurostat, International Monetary Fund.

In 2019, nominal GDP per capita in Hungary was 14,720 EUR.

Hungary has a below-average level of wealth in terms of per-capita GDP at purchasing power parity (PPP); this economic welfare indicator has, on average, fell behind that of the European Union by -22.7% over the past 10 years (2008 - 2018). GDP per capita at PPP in 2019 - 2024 are IMF's estimates.

GDP Per Capita at Purchasing Power Parity in  Hungary; European Union = 100.

Chart 3. GDP Per Capita at Purchasing Power Parity in Hungary; European Union = 100.

Inflation Rate

CPI, MoM (Apr 2020)
-0.5 %  (Mar 2020: 0.2 %)
CPI, YoY (Apr 2020)
2.5 %  (Mar 2020: 3.9 %)
CPI, Year Average (2019)
3.4 %  (2018: 2.9 %)

According to Eurostat, inflation rate in Hungary in 2019 expressed as annual percentages of average consumer prices was 3.4% which was above the Euro Area average (1.2%) and above the European Union average (1.5%). Inflation rates in 2020 - 2024 are IMF's estimates.

Inflation Rate in Hungary.

Chart 4. Inflation Rate in Hungary. Source: Eurostat, International Monetary Fund.

Unemployment Rate

Unemployment Rate (2019)
3.4 %  (2018: 3.7 %)

According to Eurostat, unemployment rate in Hungary in 2019 was 3.4% which was below the Euro Area average (7.6%) and below the European Union average (6.3%). Unemployment rates in 2020 - 2024 are IMF's estimates.

Unemployment Rate in Hungary.

Chart 5. Unemployment Rate in Hungary. Source: Eurostat, International Monetary Fund.

Government Bond Yield

Government Bond Yield (Apr 2020)
2.49 %  (Mar 2020: 2.43 %)

According to Eurostat, government bond yield in Hungary in April 2020 was 2.49%, compared to 2.43% in March 2020.

Government bond yield of Hungary.

Chart 6. Government bond yield of Hungary. Source: Eurostat.

Credit Ratings (as of Aug 2020)

Fitch
BBB (good credit quality), outlook stable
Moody's
Baa3 (lower medium grade), outlook stable
Scope
BBB+ (lower medium grade), outlook stable

Hungary has sovereign credit ratings assigned by American credit rating agencies Fitch and Moody's: the rating set by Fitch is BBB (good credit quality), outlook stable; the rating set by Moody's is Baa3 (lower medium grade), outlook stable. Scope Ratings, the European rating agency, rated Hungary as BBB+ (lower medium grade), outlook stable.

Fitch and Moody's rating data are provided for June 2020, Scope Ratings for August 2020.