Industryʼs economic weight in Hungary among highest in EU
Industry accounted for 27.8% of gross value added (GVA) in Hungary last year, among the highest rates in the European Union, data compiled by the EUʼs statistical office Eurostat show, Hungarian news agency MTI reported yesterday.
Only the rates in the Czech Republic (32.1%) and Ireland (39.1%) were higher among member states, although Eurostat noted that the picture for Ireland is skewed because of the relocation of a limited number of big economic operators to the country. The rates in neighboring countries are close to Hungaryʼs: 27.3% in Slovenia, 27.0% in Slovakia, 26.4% in Romania and 26.3% in Poland.
The Eurostat data show people working in industry in Hungary accounted for 19.8% of the total number of employed.
Those employed in public administration, defense, education, healthcare and social services accounted for 22.8% of the total employed, but generated just 17.3% of GVA.
Gross value added is output minus intermediate consumption. It usually accounts for more than 90% of GDP.
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