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KSH finalizes 4% GDP figure

The year-on-year increase in Hungary?s gross domestic product was 3.8% in Q4 2004 and 4% in the whole year of 2004, the figures of the Central Statistics Office (KSH) show. GDP growth was primarily driven by the production of goods, especially the increasing efficiency of agricultural production. Another key factor that boosted GDP last year was the dynamic increase in the export of both products and services. Gross savings and households? consumption grew at a slower rate than GDP, while collective consumption continued to decrease. 2004 GDP totaled Ft 20,216 billion.