Hungary's GDP growth hits 8.2% y.o.y. in Q1

Analysis

The gross domestic product of Hungary increased by 8.2% according to raw data and by 8% according to seasonally and calendar adjusted and reconciled data in the first quarter of 2022 compared to the corresponding period of the previous year, according to data published by the Central Statistical Office (KSH).

Compared to Q4 2021, the performance of the economy was up by 2.1% in Q1 2022.

Almost all industries contributed to the increase, but mostly industry and market services.

There were significant growths especially in the manufacture of food products and beverages, refined petroleum products and electrical equipment within industry and mostly in wholesale and retail trade, accommodation and food service activities as well as transportation and storage among market services.

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