Hungary GDP Annual Growth Rate

The Gross Domestic Product (GDP) in Hungary expanded 2.70 percent in the fourth quarter of 2013 over the same quarter of the previous year. GDP Annual Growth Rate in Hungary is reported by the Hungarian Central Statistical Office. GDP Annual Growth Rate in Hungary averaged 2 Percent from 1996 until 2013, reaching an all time high of 5 Percent in the second quarter of 2004 and a record low of -8 Percent in the second quarter of 2009. In Hungary, the annual growth rate in GDP measures the change in the value of the goods and services produced by the country economy during the period of a year. This page provides - Hungary GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-19

Actual Previous Highest Lowest Forecast Dates Unit Frequency
2.70 1.80 5.00 -8.00 2.31 | 2014/03 1996 - 2013 Percent Quarterly

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Hungary GDP Annual Growth Rate
LIST BY COUNTRY


CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2013-09-04 08:00 AM Hungary
GDP Growth Rate YoY
Q2 2013 0.5% -0.9% 0.5% -0.28%
2013-11-14 08:00 AM Hungary
GDP Growth Rate YoY - P.
Q3 2013 1.7% 0.5% 0.9% 1.32%
2013-12-04 08:00 AM Hungary
GDP Growth Rate YoY - Final
Q3 2013 1.8% 0.5% 1.7% 1.32%
2014-02-14 08:00 AM HUNGARY
GDP Growth Rate YoY
Q4 2013 2.7% 1.8% 2.1% 2.68%
2014-05-15 08:00 AM Hungary
GDP Growth Rate YoY
Q1 2014 2.7% 2.31%
2014-08-14 08:00 AM Hungary
GDP Growth Rate YoY
Q2 2014 2.68%
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GDP Last Previous Highest Lowest Forecast Unit
GDP Growth Rate 0.50 2013-12-31 0.80 2.17 -3.30 1.12 2014-03-31 Percent [+]
GDP Annual Growth Rate 2.70 2013-12-31 1.80 5.00 -8.00 2.31 2014-03-31 Percent [+]
GDP Constant Prices 5888657.00 2013-11-15 5686461.00 6144216.00 3625132.00 5681947.05 2014-03-31 HUF Million [+]
Gross Fixed Capital Formation 1034603.00 2013-11-15 1042861.00 1317035.00 701271.00 1068360.66 2014-03-31 HUF Million [+]
GDP per capita 10974.32 2012-12-31 11132.79 11533.82 2037.07 10887.28 2013-12-31 USD [+]
GDP per capita PPP 17032.56 2012-12-31 17278.52 17900.93 11158.44 16983.00 2013-12-31 USD [+]
GDP 126.00 2012-12-31 139.00 155.44 4.69 119.18 2013-12-31 USD Billion [+]
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Hungary GDP Expands 2.7% YoY in Q4

Hungarian economy advanced at a faster 2.7 percent in the last quarter of 2013, in line with a preliminary estimate and boosted by investment. The figure compares with 1.8 percent growth in the previous three-month period.

On the production side, agriculture recorded the highest annual growth rate (22.2 percent) due to the excellent harvest. The gross value added of industry increased by 3.3 percent, as manufacturing expanded 5.1 percent and construction rose by 10.4 percent, mainly construction of buildings and civil engineering works. Services output increased by 1.3 percent yoy. 

On the expenditure side, household consumption increased by 1.0 percent yoy as expenditure on transport, accommodation, recreation and culture, food as well as housing, water, electricity, gas and other fuels increased.

Gross fixed capital formation rose at a higher rate than in the previous quarter (10.4 percent). Both construction investments and investments in machinery and equipment rose at rates exceeding 10 percent. 

The volume of exports rose at a higher rate than that of imports (8.8 percent and 7.6 percent respectively).

On a quarter-on-quarter seasonally adjusted basis, the GDP expanded 0.5 percent in the fourth quarter of 2013, down from a preliminary 0.6 percent estimate. 

Considering 2013 as a whole, the economy expanded 1.1 percent, recovering from a 1.7 percent contraction in 2012, boosted by agriculture and construction output.

KSH | Joana Taborda | joana.taborda@tradingeconomics.com
3/5/2014 11:41:27 AM

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GDP Annual Growth Rate | Notes
The annual growth rate in Gross Domestic Product measures the increase in value of the goods and services produced by an economy over the period of a year. Therefore, unlike the commonly used quarterly GDP growth rate the annual GDP growth rate takes into account a full year of economic activity, thus avoiding the need to make any type of seasonal adjustment.


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