Economic Performance Up 7% on Last Year's Pandemic Base

The volume of gross domestic product increased by 7.1% in Hungary in the 4th quarter of 2021 compared to the corresponding period of the previous year, the country’s Central Statistical Office reports.

According to seasonally and calendar adjusted and reconciled data, the performance of the economy rose by 2.0% compared to the previous quarter and by 7.0% compared to the corresponding period of the previous year. In 2021, the volume of GDP grew by 7.1% compared to the previous year and by 2.1% compared to 2019 according to raw data.

In 4th quarter 2021, the volume of GDP rose by 7.1% compared to the corresponding period of the previous year. Compared with the 4th-quarter figure issued in the flash estimate, the raw volume index in the second estimate indicates a 0.1 percentage point lower growth.

GDP was 3.9% larger according to raw data than in the 4th quarter of 2019, preceding the pandemic.

Industry increased its performance by 2.1%, within which manufacturing by 1.8% compared to the same period of the previous year. Among manufacturing branches, the largest contributors to the growth of industry were increases in the manufacture of fabricated metal products and in food industry. The value added of construction went up by 21.4% and that of agriculture decreased by 6.1% compared to the corresponding period of the previous year.