The Central Statistical Office (KSH) of Hungary has released the GDP growth numbers for the second quarter of 2025. Year-over-year, the Hungarian economy has grown by 0.2 per cent (seasonally and calendar-adjusted), which translates to a 0.4-per-cent growth quarter-to-quarter.
The growth was primarily driven by the services sector, especially the information and communication industries. Meanwhile, the industrial and agricultural sectors held back overall progress, dampening the rate of expansion.
Since the last quarter showed a 0.1-per-cent contraction in gross domestic product, Hungary has avoided getting into a technical recession, which is defined as two consecutive quarters of negative GDP growth.
Hungary posted positive quarterly GDP growth in two out of the four quarters in 2024. The annual GDP growth rate was +0.5 per cent last year. The country’s nominal GDP amounted to approximately $220.9 billion last year.
In terms of per capita GDP measured in PPS (Purchasing Power Standard), Hungary currently outranks four other EU Member States, according to Eurostat’s numbers: Slovakia, Latvia, Greece, and Bulgaria (in that order, going from highest to lowest). Luxembourg tops that list, followed by Ireland, then the Netherlands.
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Author: Márton Losonczi
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