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2021 GDP growth reached 7.1%

Figures

Photo by Feng Yu / Shutterstock.com

In 2021 as a whole, GDP increased by 7.1% compared to the previous year and by 2.1% compared to 2019 according to raw data released by the Central Statistical Office (KSH).

In Q4 2021, the gross domestic product of Hungary increased by 7.2% according to raw data and by 7.1% according to seasonally and calendar adjusted and reconciled data in the fourth quarter of 2021 compared to Q4 2020.

Compared to the previous quarter, the performance of the economy grew by 2.1% in Q4 2021. The main contributor to the increase was market services, KSH notes. GDP was 4% larger according to raw data than in the fourth quarter of 2019.

The "annualized index", built on dynamics projected for the future and published for a long time in U.S. dissemination practice, indicates an 8.6% growth for the Q4 2021. The annualized index shows the extent of annual change supposing that the volume change in the current quarter – compared to the previous quarter – continued for four quarters.

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