National Accounts: GDP by Expenditure: Constant Prices: Exports of Goods and Services for Hungary
NAEXKP06HUQ652S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
10,654,462,000,000.00
Year-over-Year Change
15.62%
Date Range
1/1/1995 - 7/1/2023
Summary
This economic trend measures the exports of goods and services in Hungary, adjusted for inflation. It is a key indicator of the country's international trade performance and global economic integration.
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
The Exports of Goods and Services metric tracks the total value of all products and services sold by Hungarian firms to foreign buyers. It is an important component of the country's Gross Domestic Product (GDP) and reflects Hungary's participation in global supply chains and trade flows.
Methodology
The data is collected by the Hungarian Central Statistical Office and calculated in constant local currency units to account for price changes over time.
Historical Context
Policymakers and analysts use this trend to assess Hungary's export competitiveness and trade balance.
Key Facts
- Hungary's exports of goods and services account for over 90% of its GDP.
- Exports have grown by an average of 5% annually over the past decade.
- Machinery and transportation equipment make up over 60% of Hungary's total exports.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of all goods and services exported from Hungary, adjusted for inflation. It is a key component of the country's Gross Domestic Product (GDP).
Q: Why is this trend relevant for users or analysts?
A: The Exports of Goods and Services trend is an important indicator of Hungary's trade performance and global economic integration. It helps policymakers and analysts assess the country's export competitiveness and trade balance.
Q: How is this data collected or calculated?
A: The data is collected by the Hungarian Central Statistical Office and calculated in constant local currency units to account for price changes over time.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to evaluate Hungary's export-oriented growth strategy and trade dynamics, which are crucial for the country's economic development and integration into global supply chains.
Q: Are there update delays or limitations?
A: The data is published with a lag of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, National Accounts: GDP by Expenditure: Constant Prices: Exports of Goods and Services for Hungary (NAEXKP06HUQ652S), retrieved from FRED.