Financial intermediation, real estate, and business activities contributed 24.4% to the gross value added (GVA) in 2023, followed by mining, manufacturing, and utilities, (23.9%) and wholesale, retail and hotels (13.7%). In nominal terms, the three sectors are forecast to grow by 6.9%, 6.7%, and 6.9%, respectively, in 2024.
Budapest generated around 47.9% of Hungarian GDP (2023) and comprised 31.6% of the country’s population, in 2023, according to cities database
The BUX Index exhibited a volatile trend over past year. As of January 9, 2024, the index stood at 61,374.1, compared to 45,832.5 on January 9, 2023.Scope
- In August 2023, Hungary's Ministry of Construction and Transport introduced a 10-year railway development plan. It focuses on modernizing the rail network, including upgrading Budapest's HÉV lines, improving intercity connections, and enhancing county routes in collaboration with Volán.
Reasons to Buy
- Macroeconomic Outlook Report identifies the potentials of the country as an investment destination by analyzing the political, economic, social, technological, legal and environmental (PESTLE) structure.
- PESTLE Insights provides 360 degree view of the economy which can be used as a strategic tool to understand the market dynamics, business potentials and direction of operations
- Along with providing the country’s snapshot, the report captures the risk factors pertaining to the macroeconomic risks, political environment, legal environment, demographic and social structure effectiveness, technology & infrastructure and natural and geographic aspects that might impact business.
- This report also highlights key clusters/cities which contribute significantly to the country GDP and population along with major companies’ presence in these areas.
Table of Contents
- Did You Know?
- Country Highlights
- Key Economic Updates
- Country Snapshot
- Political Landscape
- Economic Landscape
- Social Landscape
- Technological Landscape
- Legal Landscape
- Environmental Landscape
- Outlook
Exhibit 1: Hungary’s performance in terms of its country risk analysis in comparison to East Europe and the World average
Exhibit 2: Performance overview (score: 0-100)
Exhibit 3: Broad categories and weights behind the index
Exhibit 4: Hungary stock exchange index - BUX Index
Exhibit 5: Key sectors’ contribution to the economy
Exhibit 6: FDI inflows and FDI inward stock (2018-22)
Exhibit 7: Greenfield FDI projects and net cross border M&A deals (2018-22)
Exhibit 8: Key infrastructure indicators
Exhibit 9: Real GDP and household consumption growth rate (2019-26f)
Exhibit 10: Real GDP growth rate comparison (2023e)
Exhibit 11: Volume of exports and imports growth (2019-26f)
Exhibit 12: Current account balance (2019-26f)
Exhibit 13: Top three commodity exports, % of total exports (2018-22)
Exhibit 14: Exports of electrical machinery and equipment and parts thereof, % share of the world’s total (2022)
Exhibit 15: Interest rates (January 2019 - January 2024)
Exhibit 16: Exchange rate and inflation (2019-26f)
Exhibit 17: General government deficit (2019-26f)
Exhibit 18: General government debt (2019-26f)
Exhibit 19: Unemployment rate (2019-26f)
Exhibit 20: Labor force participation rate (2019-26f)
Exhibit 21: Average annual wages (2019-26f)
Exhibit 22: Rural/urban share of total population (1995, 2005, 2015, 2025f)
Exhibit 23: Age-group share of total population (1995, 2005, 2015, 2025f)
Exhibit 24: Gender split (1995, 2005, 2015, 2025f)
Exhibit 25: Internet users as a percentage of total population, mobile penetration rate and broadband penetration rate (2023e)
Exhibit 26: Number of patents granted per million population (2022)
Exhibit 27: High-technology exports, % of manufactured exports (2022)
Exhibit 28: Rule of law (rankings) 2023
Exhibit 29: Corruption perceptions index (rankings) (2023)
Exhibit 30: Renewable energy capacity (2018-23)
Exhibit 31: CO2 emissions (2018-22)
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Balabit
- Graphisoft
- Nexon