National Accounts: GDP by Expenditure: Constant Prices: Gross Domestic Product: Total for Hungary
Growth rate same period previous year, Annual
HUNGDPRAPSMEI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.51
Year-over-Year Change
-138.25%
Date Range
1/1/1996 - 1/1/2024
Summary
The growth rate same period previous year, Annual metric measures the year-over-year change in Hungary's gross domestic product (GDP). This key indicator provides insight into the country's overall economic performance and growth trajectory.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This annual growth rate statistic compares Hungary's current GDP to the same period one year prior, expressed as a percentage change. It is a widely-used metric for evaluating the health and momentum of the Hungarian economy over time.
Methodology
The data is calculated based on official GDP statistics reported by the Hungarian Central Statistical Office.
Historical Context
Policymakers and analysts monitor this trend to assess Hungary's macroeconomic conditions and inform fiscal and monetary policy decisions.
Key Facts
- Hungary's GDP grew 5.1% in 2021 compared to 2020.
- The GDP growth rate reached a multi-year high of 6.1% in Q4 2021.
- GDP contracted by 4.5% in 2020 due to the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: This metric measures the year-over-year percent change in Hungary's gross domestic product (GDP), providing insight into the country's overall economic growth and performance.
Q: Why is this trend relevant for users or analysts?
A: The GDP growth rate is a key indicator of a country's economic health and momentum, making it highly relevant for policymakers, investors, and economists analyzing Hungary's macroeconomic conditions.
Q: How is this data collected or calculated?
A: The data is calculated based on official GDP statistics reported by the Hungarian Central Statistical Office.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this GDP growth rate trend to assess the overall performance of the Hungarian economy and inform fiscal and monetary policy decisions.
Q: Are there update delays or limitations?
A: The GDP growth rate data is typically published on a quarterly basis with a lag of several months, so there may be a delay in accessing the most recent figures.
Related Trends
Infra-Annual Labor Statistics: Unemployment Total: From 25 to 54 Years for Hungary
LFUN25TTHUQ647S
Infra-Annual Labor Statistics: Inactivity Rate Male: From 15 to 24 Years for Hungary
LRIN24MAHUQ156N
Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Alcoholic Beverages, Tobacco and Narcotics for Hungary
HUNCP020000CTGYM
Remittance Inflows to GDP for Hungary
DDOI11HUA156NWDB
Liquid Liabilities to GDP for Hungary
DDDI05HUA156NWDB
Infra-Annual Labor Statistics: Monthly Unemployment Rate Male: From 15 to 24 Years for Hungary
LRHU24MAHUM156S
Citation
U.S. Federal Reserve, Growth rate same period previous year, Annual (HUNGDPRAPSMEI), retrieved from FRED.