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.

ADVERTISEMENT

Companies Borrow HUF 256 bln in October Banking

Companies Borrow HUF 256 bln in October

MPs Approve Tax Changes Parliament

MPs Approve Tax Changes

Mahart Container Center Depot Opening at Budapest Airport Transport

Mahart Container Center Depot Opening at Budapest Airport

Countries Exchange Experiences for Better Production of Catt... Conferences

Countries Exchange Experiences for Better Production of Catt...

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.