Hungary

Hungary has made the transition from a centrally planned to a market economy, with a per capita income nearly two-thirds that of the EU-25 average. The private sector accounts for more than 80% of GDP. Foreign ownership of and investment in Hungarian firms are widespread, with cumulative foreign direct investment worth more than $70 billion. The government’s austerity measures, imposed since late 2006, have reduced the budget deficit from over 9% of GDP in 2006 to 3.8% in 2010. Hungary’s impending inability to service its short-term debt - brought on by the global financial crisis in late 2008 - led Budapest to obtain an IMF-arranged financial assistance package worth over $25 billion. The global economic downturn, declining exports, and low domestic consumption and fixed asset accumulation, dampened by government austerity measures, resulted in an economic contraction of 6.3% in 2009. The economy rebounded in 2010 with a big boost from exports, and growth of more than 2.5% is expected in 2011. Unemployment remained high, at more than 11%.

$190 billion (2010 est.)

$188.5 billion (2009 est.)

$201.2 billion (2008 est.)

$132.3 billion (2010 est.)

0.8% (2010 est.)

-6.3% (2009 est.)

0.6% (2008 est.)

$19,000 (2010 est.)

$18,800 (2009 est.)

$20,100 (2008 est.)

4.17 million (2010 est.)

11.5% (2010 est.)

10% (2009 est.)

12% (2010 est.)

28 (2005)

24.4 (1998)

19.4% of GDP (2010 est.)

72.1% of GDP (2010 est.)

78% of GDP (2009 est.)

4.5% (2010 est.)

4.2% (2009 est.)

6.25% (31 December 2009)

10% (31 December 2008)

11.04% (31 December 2009 est.)

10.18% (31 December 2008 est.)

$28.67 billion (31 December 2010 est)

$30.25 billion (31 December 2009 est)

$67.94 billion (31 December 2010 est.)

$70.99 billion (31 December 2009 est.)

$99.06 billion (31 December 2010 est.)

$103 billion (31 December 2009 est.)

$28.29 billion (31 December 2009)

$18.58 billion (31 December 2008)

$47.65 billion (31 December 2007)

wheat, corn, sunflower seed, potatoes, sugar beets; pigs, cattle, poultry, dairy products

mining, metallurgy, construction materials, processed foods, textiles, chemicals (especially pharmaceuticals), motor vehicles

5% (2010 est.)

40.03 billion kWh (2008 est.)

37.4 billion kWh (2008 est.)

9.446 billion kWh (2008 est.)

13.35 billion kWh (2008 est.)

35,580 bbl/day (2009 est.)

158,200 bbl/day (2009 est.)

69,650 bbl/day (2008 est.)

181,800 bbl/day (2008 est.)

26.57 million bbl (1 January 2010 est.)

2.603 billion cu m (2009 est.)

11.32 billion cu m (2009 est.)

85 million cu m (2009 est.)

9.708 billion cu m (2009 est.)

8.098 billion cu m (1 January 2010 est.)

-$631 million (2010 est.)

$441 million (2009 est.)

$93.74 billion (2010 est.)

$82.1 billion (2009 est.)

machinery and equipment 61.1%, other manufactures 28.7%, food products 6.5%, raw materials 2%, fuels and electricity 1.6% (2009 est.)

Germany 25.54%, Italy 5.67%, UK 5.41%, France 5.37%, Romania 5.28%, Slovakia 4.97%, Austria 4.52% (2009)

$87.44 billion (2010 est.)

$76.42 billion (2009 est.)

machinery and equipment 50%, fuels and electricity 11%, food products, raw materials

Germany 25.05%, China 8.56%, Russia 7.3%, Austria 6.08%, Netherlands 4.73%, France 4.51%, Slovakia 4.14%, Italy 4.13%, Poland 4.07% (2009)

$45.73 billion (31 December 2010 est.)

$44.18 billion (31 December 2009 est.)

$134.6 billion (31 December 2010 est.)

$147.5 billion (31 December 2009 est.)

$72.61 billion (31 December 2010 est.)

$70.41 billion (31 December 2009 est.)

$20.48 billion (31 December 2010 est.)

$19.41 billion (31 December 2009 est.)

forints (HUF) per US dollar - 213.69 (2010), 202.34 (2009), 171.8 (2008), 183.83 (2007), 210.39 (2006)