Hungary

Description of Hungary

Welcome to the insightful world of macroeconomic analysis, focusing on the dynamic nation of Hungary. As a pivotal country in Central Europe, Hungary's economic development is closely watched by global analysts and policymakers. By delving into key macroeconomic statistics, we can uncover the intricate details that shape Hungary's position in the region and its relationships with neighboring countries and the wider international community. Join us on a journey to explore the impact of statistical trends on Hungary's growth, stability, and strategic positioning.

Population And Age Structure

1. Population, total: Hungary's population of 9,750,149 is below the average population of 40,097,746. Hungary ranks 92 out of 194 countries in terms of total population.

2. Population ages 0-14 (% of total population): Hungary's percentage of population ages 0-14 at 14.56% is below the average of 27.34%. Hungary ranks 178 out of 194 countries in this demographic group.

3. Population ages 0-14, total: Hungary's total population ages 0-14 at 1,419,331 is below the average of 10,327,380. Hungary ranks 111 out of 194 countries in this age group.

4. Population ages 15-64 (% of total population): Hungary's percentage of population ages 15-64 at 65.35% is above the average of 63.44%. Hungary ranks 79 out of 194 countries in this age group.

5. Population ages 15-64, total: Hungary's total population ages 15-64 at 6,371,286 is below the average of 26,003,407. Hungary ranks 91 out of 194 countries in this age group.

6. Population ages 65 and above (% of total population): Hungary's percentage of population ages 65 and above at 20.10% is above the average of 9.22%. Hungary ranks 17 out of 194 countries in this age group.

7. Population ages 65 and above, total: Hungary's total population ages 65 and above at 1,959,532 is below the average of 3,766,959. Hungary ranks 49 out of 194 countries in this age group.

Summary

Hungary has a smaller total population compared to the global average, with a higher percentage of older citizens above 65 years. This could indicate an aging population trend in Hungary, with implications for healthcare, pension systems, and overall demographic balance in the country.

Population Miscellaneous

Analysis of key demographic statistics for Hungary:

1. Rural population: With a value of 2,735,697, Hungary's rural population is significantly below the average of 18,044,041. The country ranks 95th out of 190 countries.

2. Rural population (% of total population): Hungary's rural population (% of total population) stands at 28.058, lower than the average of 41.158%. Hungary ranks 128th out of 190 countries in this aspect.

3. Urban population: Hungary's urban population is 7,014,452, considerably lower than the average of 22,425,747. The country ranks 78th out of 194 countries.

4. Urban population (% of total population): With 71.942% of its population in urban areas, Hungary is above the average of 59.691%. The country ranks 67th out of 194 countries.

5. Age dependency ratio (% of working-age population): Hungary's ratio of 53.03% is below the average of 59.22%. The country ranks 116th out of 194 countries.

6. Birth rate, crude (per 1,000 people): At 9.6 births per 1,000 people, Hungary's rate is below the average of 19.38. The country ranks 163rd out of 192 countries.

7. Death rate, crude (per 1,000 people): Hungary's crude death rate of 14.5 is above the average of 8.21. The country ranks 9th out of 192 countries.

8. Fertility rate, total (births per woman): With a fertility rate of 1.59, Hungary's rate is below the average of 2.60. The country ranks 138th out of 190 countries.

Summary

Overall, Hungary has a relatively low rural population compared to the global average, with a higher urban population percentage. The country also exhibits lower birth rates, higher death rates, and a below-average fertility rate. These demographic indicators are crucial as they impact social welfare programs, economic growth potential, and overall population trends in Hungary.

Military

Regarding Military expenditure (current USD): Hungary's expenditure is significantly lower than the average, with a difference of approximately $10.1 billion below the average. Hungary ranks 52 out of 149 countries in this aspect.

Concerning Military expenditure (% of GDP): Hungary's expenditure as a percentage of GDP is below the average by 0.14%. Hungary ranks 59 out of 148 countries in this category.

For Arms imports (SIPRI trend indicator values): Hungary's imports are substantially lower than the average, with a difference of about $150.5 million below the average. Hungary ranks 53 out of 113 countries analyzed.

In terms of Armed forces personnel, total: Hungary's total armed forces personnel are significantly lower than the average, with a difference of around 119,909 personnel below the average. Hungary ranks 73 out of 164 countries included in the data.

Regarding Armed forces personnel (% of total labor force): Hungary's armed forces personnel as a percentage of the total labor force is below the average by 0.30%. Hungary ranks 69 out of 164 countries in this aspect.

Summary

Hungary's military expenditure, arms imports, armed forces personnel, and their percentage relative to GDP and total labor force are all below the respective global averages, indicating a conscious decision by Hungary to allocate fewer resources towards the military compared to other countries. This strategic choice may allow Hungary to focus its resources on other areas such as economic development, social welfare, or diplomacy, leading to a unique position in the global geopolitical landscape.

Natural Resources

Forest area in Hungary is 20,530.1 sq. km, which is below the average of 211,606.11 sq. km, ranking 106 out of 191 countries in the dataset.

Hungary's land area is 91,260 sq. km, compared to the average of 665,166.51 sq. km, placing it at rank 109 out of 194 countries.

The surface area of Hungary is 93,030 sq. km, lower than the average of 689,779.56 sq. km, ranking 110 out of 194 countries.

Arable land in Hungary covers 4,025,969.5 hectares, below the average of 7,329,543.16 hectares, ranking 54 out of 190 countries.

Hungary's land under cereal production is 2,337,650 hectares, compared to the average of 4,206,011.63 hectares, placing it at rank 51 out of 174 countries.

The average precipitation in Hungary is 589 mm per year, lower than the average of 1,157.83 mm per year, ranking 132 out of 178 countries.

Hungary's renewable internal freshwater resources total 6 billion cubic meters, far below the average of 240.41 billion cubic meters, ranking 134 out of 178 countries.

Summary

Hungary's natural resources, including forest area and arable land, fall below global averages, indicating potential constraints on agricultural production and environmental sustainability. The country's limited precipitation levels and renewable freshwater resources also highlight challenges in water management and ecosystem resilience. These indicators are crucial as they reflect Hungary's vulnerability to climate change impacts, agricultural productivity, and overall environmental health.

Resource Rents

1. Total natural resources rents (% of GDP): Hungary's value for this attribute is 0.2047, which is significantly below the average of 4.6300. This places Hungary at rank 140 out of 175 countries in the dataset.

2. Coal rents (% of GDP): Hungary's value for coal rents is 0.0065, much lower than the average of 0.3961. Hungary ranks 49 out of 65 countries in this dataset.

3. Forest rents (% of GDP): Hungary's value for forest rents is 0.0843, below the average of 1.5258. The country ranks 120 out of 174 countries.

4. Oil rents (% of GDP): Hungary's value for oil rents is 0.0834, which is also below the average of 2.5051. Hungary is ranked 70 out of 117 countries for this attribute.

5. Natural gas rents (% of GDP): Hungary's value for natural gas rents is 0.0305, lower than the average of 1.2527. Hungary ranks 58 out of 96 countries in the dataset.

Summary

Hungary demonstrates a relatively low dependency on natural resource rents compared to other countries, with values below global averages across all key indicators such as coal, forest, oil, and natural gas rents as a percentage of GDP. Despite this, Hungary tends to rank lower among countries in these specific areas. This suggests that Hungary may have a more diversified economy and potentially relies less on natural resource extraction for economic output, which can contribute to greater economic stability and resilience in the face of commodity price fluctuations.

Commodities

In terms of Cereal production, Hungary's value of 15,566,640 metric tons is below the average of 17,249,945.92 metric tons, placing Hungary at rank 32 out of 174 countries.

Hungary's Aquaculture production of 18,373.33 metric tons is significantly below the average of 679,642.92 metric tons, ranking Hungary at 65 out of 180 countries.

For Capture fisheries production, Hungary's value of 5,483.1 metric tons falls below the average of 467,453.06 metric tons, positioning Hungary at rank 146 out of 190 countries.

Hungary's Total fisheries production of 23,856.43 metric tons also falls below the average of 1,153,914.85 metric tons, placing Hungary at rank 122 out of 182 countries.

In terms of Fertilizer consumption, Hungary's value of 162.62 kilograms per hectare of arable land is slightly above the average of 159.04 kilograms, ranking Hungary at 55 out of 187 countries.

Summary

Hungary's agricultural sector faces challenges, as evidenced by its below-average production levels in cereals, aquaculture, capture fisheries, and total fisheries. Despite ranking relatively better in terms of fertilizer consumption, there is still room for improvement. These statistics are crucial as they indicate Hungary's position in global agricultural markets, highlighting areas for potential growth and development within the sector.

Intellectual Property

Industrial design applications, nonresident, by count: Hungary's value of 89 is significantly below the average of 1415.83, ranking 74th out of 112 countries.

Industrial design applications, resident, by count: Hungary's value of 515 is below the average of 9799.58, ranking 42nd out of 113 countries.

Patent applications, nonresidents: Hungary's value of 28 is notably below the average of 6538.40, ranking 85th out of 129 countries.

Patent applications, residents: Hungary's value of 428 is well below the average of 19037.56, ranking 45th out of 117 countries.

Trademark applications, nonresident, by count: Hungary's value of 3676 is below the average of 15878.93, ranking 81st out of 130 countries.

Trademark applications, resident, by count: Hungary's value of 7388 is significantly below the average of 111055.78, ranking 55th out of 129 countries.

Scientific and technical journal articles: Hungary's value of 7478.17 is below the average of 15103.76, ranking 49th out of 192 countries.

Charges for the use of intellectual property, payments (BoP, current US$): Hungary's value of 1,408,457,719.69 is notably below the average of 3,218,843,494.39, ranking 33rd out of 143 countries.

Charges for the use of intellectual property, receipts (BoP, current US$): Hungary's value of 1,195,919,484.26 is well below the average of 3,191,687,117.58, ranking 23rd out of 122 countries.

Researchers in R&D (per million people): Hungary's value of 4,308.95 is above the average of 2,556.45, ranking 19th out of 72 countries.

Summary

Hungary's performance in key macroeconomic indicators indicates a mixed picture. While the country ranks below average in many categories such as industrial design applications, patent applications, and trademark applications, it excels in others like researchers in R&D per million people. The lower rankings in intellectual property-related payments and receipts suggest potential areas for improvement to boost economic competitiveness and innovation within the country.

Broad Economy Attributes

- Hungary's GDP (current US$) is $157.23 billion, which is below the average of $442.87 billion, ranked 53 out of 189 countries. - In terms of GDP, PPP (current international $), Hungary's value of $341.41 billion is below the average of $734.14 billion, ranked 52 out of 181 countries. - Hungary's GDP per capita (current US$) is $16,125.61, slightly above the average of $15,462.11, ranked 50 out of 190 countries. - The GDP per capita, PPP (current international $) for Hungary is $35,016.14, significantly above the average of $21,251.89, ranked 40 out of 181 countries. - Hungary's GNI (current US$) is $153.47 billion, below the average of $452.04 billion, ranked 54 out of 185 countries. - In terms of GNI, PPP (current international $), Hungary's value of $333.26 billion is below the average of $730.70 billion, ranked 52 out of 181 countries. - Hungary's GNI per capita, PPP (current international $) is $34,180, above the average of $20,615.75, ranked 41 out of 181 countries.

Summary

Broad Value Added

1. Gross value added at basic prices (GVA) in Hungary is $132.71 billion, ranking 52nd out of 176 countries. This is below the average GVA of $360.07 billion.

2. Agriculture, forestry, and fishing, value added (% of GDP) is 3.39% in Hungary, ranking 125th out of 182 countries. This percentage is significantly below the average of 10.86%.

3. Agriculture, forestry, and fishing, value added in Hungary is $5.33 billion, ranking 65th out of 182 countries. This amount is notably below the average of $19.92 billion.

4. Services, value added (% of GDP) is 56.63% in Hungary, ranking 88th out of 183 countries. This percentage is just slightly below the average of 56.72%.

5. Services, value added in Hungary is $89.03 billion, ranking 53rd out of 183 countries. This value is notably below the average of $295.84 billion.

6. Industry (including construction), value added in Hungary is $38.35 billion, ranking 55th out of 183 countries. This amount is significantly below the average of $118.42 billion.

Summary

In summary, Hungary's economy shows a lower Gross Value Added (GVA) compared to the global average, with a significant emphasis on services rather than agriculture. The country ranks below average in most key indicators such as Agriculture, Forestry, and Fishing as well as Industry value added. These statistics are crucial as they reveal Hungary's economic structure and areas for potential growth and development, indicating a need for diversification and improvement in the agricultural and industrial sectors to align more closely with global benchmarks.

Manufacturing Value Added

Manufacturing, value added (current US$): Hungary's value of $27,225,898,548.69 is below the average of $76,207,179,589.66. Hungary ranks 47th out of 173 countries.

Manufacturing, value added (% of GDP): Hungary's value of 17.32% is above the average of 11.90%. Hungary ranks 34th out of 173 countries.

Medium and high-tech manufacturing value added (% manufacturing value added): Hungary's value of 53.21% is significantly above the average of 24.49%. Hungary ranks 8th out of 149 countries.

Chemicals (% of value added in manufacturing): Hungary's value of 11.22% is below the average of 11.56%. Hungary ranks 35th out of 89 countries.

Food, beverages and tobacco (% of value added in manufacturing): Hungary's value of 10.71% is below the average of 24.51%. Hungary ranks 80th out of 92 countries.

Machinery and transport equipment (% of value added in manufacturing): Hungary's value of 36.56% is above the average of 16.85%. Hungary ranks 8th out of 93 countries.

Textiles and clothing (% of value added in manufacturing): Hungary's value of 1.69% is below the average of 6.33%. Hungary ranks 71st out of 93 countries.

Other manufacturing (% of value added in manufacturing): Hungary's value of 39.81% is below the average of 42.13%. Hungary ranks 49th out of 94 countries.

Summary

Hungary's manufacturing sector appears to be a significant contributor to its economy, with a higher-than-average value added (% of GDP) and a notable focus on medium and high-tech manufacturing. The country also shows strengths in the machinery and transport equipment subsector. However, there are areas of weakness such as in the food, beverages, and tobacco subsector where Hungary falls below the average.

These statistics are important as they provide insights into Hungary's industrial capabilities, areas of specialization, and potential vulnerabilities. By understanding these metrics, policymakers can make informed decisions to further develop the country's manufacturing sector, capitalize on its strengths, and address any weaknesses to enhance competitiveness in the global market.

Money

Inflation, consumer prices (annual %): Hungary's inflation rate is 3.33%, which is below the average of 8.26%. Hungary ranks 54 out of 165 countries in this data set.

Inflation, GDP deflator (annual %): Hungary's inflation rate based on the GDP deflator is 6.40%, slightly below the average of 6.90%. Hungary ranks 35 out of 188 countries in this data set.

Broad money growth (annual %): Hungary's broad money growth rate is 21.09%, higher than the average of 18.03%. Hungary ranks 26 out of 139 countries in this data set.

Broad money (% of GDP): Hungary's broad money as a percentage of GDP is 69.31%, below the average of 71.75%. Hungary ranks 64 out of 139 countries in this data set.

Broad money to total reserves ratio: Hungary's ratio of broad money to total reserves is 2.64, lower than the average of 5.17. Hungary ranks 68 out of 126 countries in this data set.

Summary

Hungary's macroeconomic indicators generally depict a stable economic environment. The inflation rates, both in terms of consumer prices and GDP deflator, are below the global averages, indicating controlled price levels. The high broad money growth rate signifies strong liquidity in the economy, potentially driving investment and consumption. However, the low broad money as a percentage of GDP and the broad money to total reserves ratio suggest a need for cautious monetary policy to ensure sustainable economic growth and stability.

Consumption Expenditure

Final consumption expenditure (current US$): In Hungary, the final consumption expenditure is $111.35 billion, which is significantly below the average of $381.63 billion. Hungary ranks 53 out of 159 countries in this attribute.

Final consumption expenditure (% of GDP): Hungary's final consumption expenditure as a percentage of GDP is 70.82%, lower than the average of 82.37%. Hungary ranks 128 out of 159 countries in this attribute.

General government final consumption expenditure (current US$): Hungary's expenditure is $33.53 billion, well below the average of $93.68 billion. Hungary ranks 48 out of 158 countries in this attribute.

General government final consumption expenditure (% of GDP): Hungary's government expenditure as a percentage of GDP is 21.33%, higher than the average of 18.71%. Hungary ranks 46 out of 158 countries in this attribute.

Household and NPISHs Final consumption expenditure (current US$): Hungary's household and NPISHs expenditure is $77.82 billion, which is below the average of $290.13 billion. Hungary ranks 53 out of 158 countries in this attribute.

Households and NPISHs final consumption expenditure (% of GDP): Hungary's household and NPISHs expenditure as a percentage of GDP is 49.50%, lower than the average of 63.68%. Hungary ranks 130 out of 158 countries in this attribute.

Summary

Overall, Hungary exhibits a pattern of lower final consumption expenditure both in absolute terms and as a percentage of GDP compared to the global averages. The country's general government final consumption expenditure stands out as being relatively higher compared to its GDP. These indicators are crucial as they reflect the level of economic activity, government spending, and the role of households in driving economic growth within Hungary.

Equities

1. Listed domestic companies, total: Hungary has 45 listed domestic companies, well below the average of 636.625. This places Hungary at rank 54 out of 72 countries.

2. Stocks traded, total value (current US$): The total value of stocks traded in Hungary is $11,302,390,000, significantly lower than the average of $1,379,501,958,120.91. Hungary ranks 35 out of 71 countries in this aspect.

3. Stocks traded, total value (% of GDP): Hungary's stocks traded value as a percentage of GDP is 7.19%, below the average of 31.65%. Hungary is ranked 32 out of 71 countries.

4. Market capitalization of listed domestic companies (current US$): Hungary's market capitalization is $27,970,830,000, far from the average of $1,196,037,851,618.88. Hungary ranks 43 out of 73 countries.

5. Market capitalization of listed domestic companies (% of GDP): Hungary's market capitalization as a percentage of GDP is 17.79%, below the average of 71.24%. Hungary is ranked 58 out of 73 countries.

6. S&P Global Equity Indices (annual % change): Hungary's S&P Global Equity Indices show an annual % change of -12.33%, well below the average of 2.06%. This places Hungary at rank 63 out of 79 countries.

Summary

Hungary lags behind global averages in key macroeconomic indicators related to its stock market and equity performance. With a lower number of listed domestic companies, lower total value and market capitalization of stocks traded, and a negative S&P Global Equity Index annual % change, Hungary faces challenges in attracting investment and capitalizing on its domestic market. These indicators suggest a less developed and potentially less attractive stock market environment in Hungary compared to other countries, which could impact its overall economic growth and competitiveness in the global market.

Investment

Foreign direct investment, net (BoP, current US$): Hungary's value of -2756453066.85714 is below the average of -1615235980.5053596. Hungary ranks 134 out of 169 countries in this attribute.

Foreign direct investment, net inflows (BoP, current US$): Hungary's value of 167562393060.982 is significantly above the average of 5749271080.145696. Hungary ranks 2 out of 182 countries in this attribute.

Foreign direct investment, net inflows (% of GDP): Hungary's value of 106.573484454523 is way above the average of 2.609379547494923. Hungary ranks 1 out of 178 countries in this attribute.

Foreign direct investment, net outflows (BoP, current US$): Hungary's value of 164805939994.125 is significantly above the average of 5707991116.068991. Hungary ranks 2 out of 156 countries in this attribute.

Foreign direct investment, net outflows (% of GDP): Hungary's value of 104.820317752234 is significantly above the average of 1.00435052368164. Hungary ranks 2 out of 155 countries in this attribute.

Portfolio Investment, net (BoP, current US$): Hungary's value of -2990843686.85753 is way below the average of 679559169.5717607. Hungary ranks 140 out of 159 countries in this attribute.

Portfolio equity, net inflows (BoP, current US$): Hungary's value of -578553464.225031 is below the average of 9197145994.702154. Hungary ranks 105 out of 125 countries in this attribute.

Summary

Hungary stands out globally in terms of foreign direct investment, with exceptionally high net inflows and outflows compared to the average. These substantial investments signify a strong confidence in Hungary's economy, leading to a top ranking in both categories. However, the country's performance in portfolio investments is less impressive, with below-average net values, indicating room for improvement in attracting this type of investment for a more diversified investment portfolio.

Broad Trade Attributes

For Trade (% of GDP), Hungary's value is 155.48%, ranking 12th out of 163 countries. This is significantly above the average of 82.34%.

In terms of Merchandise trade (% of GDP), Hungary's value of 150.53% positions it at 9th place out of 186 countries, well above the average of 60.01%.

With a Trade in services (% of GDP) value of 25.95%, Hungary ranks 41st out of 171 countries, slightly higher than the average of 24.63%.

Looking at the External balance on goods and services in current US dollars, Hungary's value is $3,031,734,109.68, placing it 38th out of 163 countries. The value is slightly below the average.

When considering the External balance on goods and services (% of GDP), Hungary's value stands at 1.93%, ranking 50th out of 163 countries. This is notably above the average of -5.97%.

Summary

Hungary demonstrates a robust trade sector with Trade (% of GDP) and Merchandise trade (% of GDP) values significantly surpassing global averages, positioning the country at the 12th and 9th spots, respectively. The Trade in services (% of GDP) value is also higher than average, indicating a diverse trade portfolio. Additionally, Hungary's positive External balance on goods and services in current US dollars signifies a healthy trade surplus, contributing to economic stability and potential for growth.

These statistics highlight Hungary's strong trade performance, emphasizing its integration into the global market and economic resilience. Maintaining a positive balance in goods and services showcases the country's competitiveness and ability to generate revenue from international trade, which can support economic development and sustainability over the long term.

Net Trade

1. Hungary's current account balance is -$1,582,169,454.17, which is below the average of $1,443,864,831.49. Hungary ranks 126 out of 170 countries in this attribute.

2. The current account balance as a percentage of GDP for Hungary is -1.01%, which is below the average of -2.36%. Hungary ranks 77 out of 170 countries in this attribute.

3. Hungary's net trade in goods and services is $3,095,283,204.16, higher than the average of $2,604,730,003.57. Hungary ranks 37 out of 171 countries in this attribute.

4. The net primary income for Hungary is -$3,897,070,805.10, significantly below the average of -$903,807,529.74. Hungary ranks 138 out of 170 countries in this attribute.

5. Hungary's net secondary income is -$780,381,853.24, lower than the average of -$269,227,340.40. Hungary ranks 141 out of 170 countries in this attribute.

6. In terms of net trade in goods, Hungary has a value of -$1,477,399,000.26, which is below the average of $1,302,831,005.68. Hungary ranks 110 out of 171 countries in this attribute.

7. Hungary's net capital account stands at $3,325,413,323.66, significantly higher than the average of $136,543,824.05. Hungary ranks 5 out of 159 countries in this attribute.

8. The net financial account for Hungary is -$2,373,932,597.43, below the average of -$469,840,994.63. Hungary ranks 137 out of 170 countries in this attribute.

Summary

Hungary demonstrates mixed performance in key macroeconomic indicators compared to global averages and rankings. The country performs well in net trade in goods and services and net capital account, ranking higher than the average, indicating strength in trade and capital flows. However, significant deficits in net primary income, net secondary income, and net financial account suggest areas of concern that may impact Hungary's overall economic stability and growth prospects.

Broad Export Attributes

1. Exports of goods, services and primary income (BoP, current US$): Hungary's value of $137,675,207,650.51 is below the average of $146,238,908,936.30. Hungary ranks 34th out of 170 countries in this attribute.

2. Exports of goods and services (BoP, current US$): Hungary's value of $124,110,863,301.82 is above the average of $122,938,540,059.78. Hungary ranks 33rd out of 170 countries in this attribute.

3. Exports of goods and services (current US$): Hungary's value of $123,747,209,385.38 is below the average of $129,596,864,610.19. Hungary ranks 34th out of 163 countries in this attribute.

4. Exports of goods and services (% of GDP): Hungary's value of 78.71% is above the average of 38.19%. Hungary ranks 11th out of 163 countries in this attribute.

5. Goods exports (BoP, current US$): Hungary's value of $101,421,382,472.50 is above the average of $93,310,581,697.39. Hungary ranks 32nd out of 171 countries in this attribute.

6. International tourism, receipts (% of total exports): Hungary's value of 3.40% is below the average of 9.74%. Hungary ranks 61st out of 120 countries in this attribute.

7. ICT goods exports (% of total goods exports): Hungary's value of 13.09% is above the average of 3.81%. Hungary ranks 13th out of 142 countries in this attribute.

Summary

Hungary demonstrates strong export performance, ranking above average in various categories such as total exports, goods exports, and ICT goods exports. The country's high percentage of goods exports relative to GDP reflects a significant contribution of exports to its economy. However, Hungary lags behind in international tourism receipts, indicating potential areas for further growth and diversification in its export sector.

Merchandise Exports

Analysis of key trade statistics for Hungary:

1. Merchandise exports (current US$): Hungary's merchandise exports amount to $120.65 billion, surpassing the average of $89.54 billion. Hungary ranks 32nd out of 187 countries in this aspect.

2. Agricultural raw materials exports (% of merchandise exports): Hungary's agricultural raw materials exports account for 0.52% of its total merchandise exports, below the average of 2.97%. Hungary is ranked 112th out of 151 countries.

3. Food exports (% of merchandise exports): Hungary's food exports constitute 8.57% of its total merchandise exports, falling below the average of 24.06%. Hungary holds the 111th rank out of 152 countries.

4. Fuel exports (% of merchandise exports): Hungary's fuel exports represent 2.19% of its merchandise exports, lower than the average of 13.70%. Hungary ranks 87th out of 147 countries.

5. Ores and metals exports (% of merchandise exports): Hungary's ores and metals exports make up 1.23% of its total merchandise exports, below the average of 9.10%. Hungary holds the 117th rank out of 152 countries.

6. Merchandise exports by the reporting economy, residual (% of total merchandise exports): Hungary's residual exports account for 0.003% of its total merchandise exports, significantly below the average of 3.20%. Hungary is ranked 147th out of 166 countries.

Summary

In summary, Hungary has a strong overall merchandise export value at $120.65 billion, placing it in the 32nd position globally. However, it falls below average in the export of agricultural raw materials, food, fuel, ores and metals, as well as residual exports. These statistics are crucial as they indicate areas where Hungary may need to focus on improving its export diversification and competitiveness in various sectors to strengthen its overall trade performance.

Technology Exports

Manufactures exports (% of merchandise exports): Hungary exceeds the average with a value of 86.85%, ranking 10th out of 152 countries. This indicates a strong reliance on manufactured goods for export.

High-technology exports (current US$): Hungary's export value of $18,155,662,306 is above the average of $16,655,934,078.80, ranking 23rd out of 151 countries. This shows a significant contribution to the high-tech export market.

High-technology exports (% of manufactured exports): Hungary's value of 17.43% surpasses the average of 10.15%, ranking 29th out of 150 countries. This highlights Hungary's focus on high-tech goods within its manufactured exports.

Medium and high-tech exports (% manufactured exports): Hungary performs well above average at 77.50%, ranking 5th out of 149 countries. This signifies a strong presence in the medium and high-tech export sector.

Summary

Hungary stands out in its macroeconomic performance, excelling in various key indicators related to export activities. With a high percentage of manufactured exports, particularly in high-technology goods, Hungary demonstrates a robust export-oriented economy. The country's strong presence in the high-tech export market and its focus on medium and high-tech goods within its manufactured exports signify technological advancement and competitiveness, positioning Hungary well within the global trade landscape.

Service Exports

Service exports (BoP, current US$): Hungary's value of $22,689,480,829.32 is below the average of $28,917,292,503.82. It ranks 36th out of 171 countries.

ICT service exports (BoP, current US$): Hungary's value of $2,883,996,017.46 is below the average of $4,578,501,153.77. It ranks 34th out of 166 countries.

ICT service exports (% of service exports, BoP): Hungary's value of 12.71% is above the average of 11.75%. It ranks 54th out of 166 countries.

Communications, computer, etc. (% of service exports, BoP): Hungary's value of 60.22% is above the average of 45.85%. It ranks 49th out of 169 countries.

Transport services (% of service exports, BoP): Hungary's value of 23.40% is above the average of 21.80%. It ranks 65th out of 169 countries.

Travel services (% of service exports, BoP): Hungary's value of 14.23% is below the average of 26.40%. It ranks 103rd out of 167 countries.

Insurance and financial services (% of service exports, BoP): Hungary's value of 2.15% is below the average of 6.46%. It ranks 111th out of 161 countries.

Summary

Hungary's service exports, ICT service exports, and various service components as a percentage of total service exports are below global averages and rank moderately when compared to other countries. This indicates room for growth and optimization in diversifying its service export portfolio. Improving these indicators can enhance Hungary's economic resilience, competitiveness, and contribution to global trade, ultimately fostering sustainable economic development and increasing its global influence.

Commercial Service Exports

1. Commercial service exports (current US$): Hungary's commercial service exports amount to $22,574,529,886.31, ranking 36th out of 171 countries. This value is below the average of $28,508,218,402.80.

2. Travel services (% of commercial service exports): Hungary's travel services account for 14.30% of its commercial service exports, ranking 104th out of 167 countries. This percentage is below the average of 27.89%.

3. Computer, communications and other services (% of commercial service exports): Hungary's computer, communications, and other services make up 60.01% of its commercial service exports, ranking 46th out of 169 countries. This percentage is above the average of 42.44%.

4. Insurance and financial services (% of commercial service exports): Hungary's insurance and financial services represent 2.16% of its commercial service exports, ranking 114th out of 161 countries. This percentage is below the average of 6.97%.

5. Transport services (% of commercial service exports): Hungary's transport services contribute to 23.52% of its commercial service exports, ranking 68th out of 169 countries. This percentage is slightly above the average of 23.37%.

Summary

Hungary's commercial service exports are significant but below the global average. The country heavily relies on computer, communications, and other services for its exports, surpassing the global average. However, Hungary's reliance on travel services is lower than average, while its insurance and financial services exports are also below par.

These statistics are crucial for Hungary's economic diversification and competitiveness in the global market. By understanding its strengths and weaknesses in different service sectors, Hungary can strategically allocate resources and focus on improving areas with lower contributions to boost overall export performance.

Broad Import Attributes

Imports of goods and services (current US$): Hungary's value is $120.72 billion, which is below the average of $126.19 billion. Hungary ranks 35th out of 163 countries.

Imports of goods and services (% of GDP): Hungary's value is 76.78%, above the average of 44.15%. Hungary ranks 15th out of 163 countries.

International tourism, expenditures (% of total imports): Hungary's value is 1.10%, below the average of 3.98%. Hungary ranks 117th out of 131 countries.

ICT goods imports (% total goods imports): Hungary's value is 14.03%, above the average of 6.85%. Hungary ranks 14th out of 143 countries.

Goods imports (BoP, current US$): Hungary's value is $102.90 billion, below the average of $92.01 billion. Hungary ranks 31st out of 171 countries.

Imports of goods and services (BoP, current US$): Hungary's value is $121.02 billion, above the average of $120.32 billion. Hungary ranks 34th out of 170 countries.

Imports of goods, services and primary income (BoP, current US$): Hungary's value is $138.48 billion, below the average of $144.51 billion. Hungary ranks 34th out of 170 countries.

Summary

Hungary has import values below the global average in terms of goods and services, as well as international tourism expenditures. However, Hungary surpasses the average in ICT goods imports percentage and ranks relatively high in this category. These statistics are crucial as they indicate Hungary's strong reliance on imported goods and services, particularly in the ICT sector, which can impact its economic stability and competitiveness in the global market.

Merchandise Imports

- Merchandise imports (current US$): Hungary's merchandise imports amount to $116,020,000,000, which is above the average of $89,385,605,263. The country ranks 31st out of 190 countries in terms of merchandise imports.

- Manufactures imports (% of merchandise imports): Hungary's imports of manufactures constitute 83.20% of its total merchandise imports, higher than the average of 66.76%. This places Hungary 2nd out of 152 countries in this category.

- Agricultural raw materials imports (% of merchandise imports): Hungary's import percentage for agricultural raw materials is 1.04%, below the average of 1.27%. The country ranks 89th out of 152 nations for this metric.

- Food imports (% of merchandise imports): Hungary's food imports represent 6.17% of its total merchandise imports, lower than the average of 15.89%. This places Hungary at the 148th position out of 152 countries in terms of food imports.

- Fuel imports (% of merchandise imports): Hungary's fuel imports account for 5.56% of its merchandise imports, below the average of 11.38%. Hungary ranks 122nd out of 152 countries in this category.

- Ores and metals imports (% of merchandise imports): Hungary's imports of ores and metals make up 2.33% of its total merchandise imports, slightly below the average of 2.57%. The country ranks 58th out of 152 nations for this metric.

- Merchandise imports by the reporting economy, residual (% of total merchandise imports): Hungary's residual imports constitute 0.04% of its total merchandise imports, significantly lower than the average of 2.51%. The country's rank is 142nd out of 180 countries in this aspect.

Summary

Hungary has a significant portion of its merchandise imports coming from manufactures, which is higher than the global average, ranking 2nd in this category. However, the country lags behind in food imports, ranking 148th out of 152 countries. These indicators are crucial as they reveal Hungary's reliance on manufactured goods and its limited dependency on food imports, reflecting its industrial strength but potential vulnerability in ensuring food security.

Service Imports

Service imports (BoP, current US$): Hungary's service imports amount to 18,116,798,624.89 USD, which is below the average of 27,615,356,170.47 USD. Hungary ranks 39th out of 171 countries in this attribute.

Communications, computer, etc. (% of service imports, BoP): Hungary's percentage of service imports for communications, computer, etc. is 65.59%, exceeding the average of 44.40%. Hungary ranks 21st out of 169 countries in this category.

Transport services (% of service imports, BoP): Hungary's percentage of service imports for transport services is 24.19%, lower than the average of 32.90%. Hungary ranks 106th out of 169 countries.

Travel services (% of service imports, BoP): Hungary's percentage of service imports for travel services is 6.40%, well below the average of 14.14%. Hungary ranks 127th out of 169 countries in this aspect.

Insurance and financial services (% of service imports, BoP): Hungary's percentage of service imports for insurance and financial services is 3.82%, which falls short of the average of 8.53%. Hungary ranks 127th out of 169 countries in this attribute.

Summary

In analyzing Hungary's key macroeconomic indicators related to service imports, it is evident that the country has a relatively lower total service imports compared to the global average. However, Hungary excels in importing communications, computer, etc., while lagging behind in transport services, travel services, insurance, and financial services. These findings are crucial as they showcase Hungary's strengths and weaknesses in different service import sectors, highlighting areas where the country can potentially improve or further specialize to enhance its overall economic performance.

Commercial Service Imports

For Commercial service imports (current US$), Hungary's value is $17,877,216,685.43, which is below the average of $27,102,746,128.60. Hungary ranks 38 out of 171 countries in this attribute data.

Computer, communications, and other services (% of commercial service imports) in Hungary stand at 65.13%, surpassing the average of 41.71%. Hungary ranks 21 out of 169 countries in this category.

Insurance and financial services (% of commercial service imports) in Hungary are at 3.87%, lower than the average of 8.85%. Hungary ranks 128 out of 169 countries for this attribute.

Transport services (% of commercial service imports) in Hungary are at 24.51%, under the average of 34.71%. Hungary holds the 106th rank out of 169 countries in this aspect.

Travel services (% of commercial service imports) in Hungary are at 6.49%, below the average of 14.73%. Hungary shares the 128th rank out of 169 countries for travel services.

Summary

Hungary has below-average values for commercial service imports, insurance and financial services, transport services, and travel services compared to the global average. However, Hungary excels in computer, communications, and other services, surpassing the global average. These indicators are crucial as they reflect Hungary's economic openness, competitiveness in different service sectors, and potential areas for improvement to enhance its overall service sector performance and global trade relations.

Infrastructure

1. Railways, passengers carried (million passenger-km): Hungary's value of 4854.225 million passenger-km is significantly below the attribute average of 32281.917 million passenger-km. Hungary ranks 23 out of 64 countries in this dataset.

2. Railways, goods transported (million ton-km): Hungary's value of 11594.698 million ton-km is notably below the attribute average of 119231.191 million ton-km. Hungary holds the 24th position out of 62 countries in this category.

3. Air transport, registered carrier departures worldwide: Hungary's value of 106938 departures is below the attribute average of 134365.605 departures. Hungary ranks 31 out of 149 countries included in the data.

4. Air transport, passengers carried: Hungary's value of 14597294 passengers carried surpasses the attribute average of 11848242.7 passengers. Hungary is ranked 24th out of 149 countries for this metric.

5. Rail lines (total route-km): Hungary's total of 7587.7 route-km is lower than the attribute average of 12204.736 route-km. In this category, Hungary stands at the 20th position out of 66 countries in the dataset.

Summary

Hungary exhibits lower than average performance in key macroeconomic indicators related to transportation infrastructure, including railways passengers carried, goods transported, air transport departures, passengers carried, and total rail lines. These indicators are crucial for assessing a country's connectivity, trade efficiency, and economic development. Hungary's rankings below the global averages suggest a potential need for further investment and development in its transportation infrastructure to enhance its competitiveness and connectivity both domestically and internationally.

Information Technology Infrastructure

For Secure Internet servers, Hungary has 319,932 servers, which is below the average of 458,294. Hungary is ranked 29th out of 193 countries for this attribute.

Regarding Secure Internet servers (per 1 million people), Hungary's value is 32,813.04, significantly higher than the average of 14,067.17. Hungary is ranked 27th out of 193 countries.

When it comes to Individuals using the Internet (% of population), Hungary stands at 84.77%, above the average of 64.77%. Hungary is ranked 48th out of 180 countries.

For Fixed broadband subscriptions, Hungary has 3,265,308 subscriptions, below the average of 6,591,956. Hungary is ranked 42nd out of 185 countries.

In terms of Mobile cellular subscriptions, Hungary has 10,332,660 subscriptions, significantly below the average of 42,526,463.87. Hungary is ranked 88th out of 193 countries for this attribute.

Summary

Hungary's strong presence in Secure Internet servers and high usage rate of the Internet indicates a technologically advanced society. However, the lower than average Mobile cellular subscriptions suggest potential room for growth in mobile technology adoption. These statistics are crucial for understanding Hungary's digital infrastructure and can help identify areas for development and investment in the country's telecommunications sector.

Energy Consumption

1. Hungary's renewable energy consumption is 14.76% of the total final energy consumption, which is below the global average of 32.18%. Hungary is ranked 123 out of 191 countries in this aspect.

2. Hungary's CO2 emissions amount to 44,769.3 kt, significantly below the average of 171,895.94 kt. Hungary ranks 56 out of 188 countries for CO2 emissions.

Summary

Hungary's renewable energy consumption of 14.76% falls below the global average of 32.18%, positioning the country at 123 out of 191 nations. Additionally, Hungary's relatively low CO2 emissions of 44,769.3 kt compared to the average of 171,895.94 kt places it at 56 out of 188 countries for CO2 emissions.

These statistics are crucial as they highlight Hungary's current standing in terms of sustainability and environmental impact compared to other nations worldwide. The lower renewable energy consumption and CO2 emissions indicate areas where Hungary can focus on improvement to align with global standards and contribute to a greener, more sustainable future.

Government Balance Sheet

Net acquisition of financial assets (% of GDP): Hungary's value is above the average by 2.72%, ranking 12 out of 87 countries.

Central government debt, total (% of GDP): Hungary's value is above the average by 21.89%, ranking 18 out of 61 countries.

Net incurrence of liabilities, total (% of GDP): Hungary's value is above the average by 5.47%, ranking 10 out of 92 countries.

Reserves and related items (BoP, current US$): Hungary's value is significantly above the average, ranking 16 out of 171 countries.

Total reserves minus gold (current US$): Hungary's value is below the average, ranking 40 out of 161 countries.

Total reserves (includes gold, current US$): Hungary's value is below the average, ranking 43 out of 161 countries.

Total reserves in months of imports: Hungary's value is below the average, ranking 107 out of 151 countries.

Summary

Hungary demonstrates above-average values in key macroeconomic indicators such as net acquisition of financial assets, central government debt, and net incurrence of liabilities. The country also maintains significant reserves and related items, but lags behind in total reserves when excluding gold and in reserves in months of imports. These statistics are important as they indicate Hungary's financial stability, debt management, and ability to meet external payment obligations.

Government Revenue

Revenue, excluding grants (% of GDP): Hungary's value of 38.02% is above the average of 27.02%. It ranks 18th out of 122 countries.

Grants and other revenue (% of revenue): Hungary's value of 14.62% is below the average of 23.54%. It ranks 67th out of 108 countries.

Social contributions (% of revenue): Hungary's value of 27.95% is above the average of 22.29%. It ranks 36th out of 81 countries.

Taxes on goods and services (% of revenue): Hungary's value of 38.06% is above the average of 31.82%. It ranks 41st out of 122 countries.

Other taxes (% of revenue): Hungary's value of 2.95% is above the average of 2.12%. It ranks 25th out of 106 countries.

Taxes on income, profits and capital gains (% of revenue): Hungary's value of 16.42% is below the average of 24.66%. It ranks 88th out of 119 countries.

Summary

Hungary's macroeconomic indicators show that it has a higher revenue excluding grants (% of GDP) and taxes on goods and services (% of revenue) compared to the global averages, indicating a relatively robust taxation system. However, it lags behind in grants and other revenue (% of revenue) and taxes on income, profits, and capital gains (% of revenue), suggesting potential areas for improvement in revenue diversification. These indicators are important as they reflect the government's fiscal management, its reliance on different revenue sources, and its competitiveness in the global tax landscape.

Taxes

1. Tax revenue (% of GDP): Hungary's tax revenue accounts for 22.87% of its GDP, which is above the average of 16.72%. The country is ranked 20th out of 123 countries in this data set.

2. Taxes on income, profits and capital gains (% of total taxes): Hungary's percentage of taxes on income, profits, and capital gains is 28.59%, below the average of 38.40%. This places Hungary in the 90th position out of 120 countries.

3. Tariff rate, applied, weighted mean, all products (%): Hungary's applied tariff rate of 1.48% is below the average of 5.21%. With this rate, Hungary is ranked 123rd out of 153 countries included in the data.

Summary

Hungary demonstrates a relatively high tax revenue as a percentage of its GDP, ranking 20th out of 123 countries. However, the country's reliance on taxes on income, profits, and capital gains is below average, positioning it in the 90th place out of 120 countries. Furthermore, Hungary's applied tariff rate is notably lower than the average, ranking it 123rd out of 153 countries in the dataset.

These indicators are crucial as they provide insights into Hungary's fiscal policies and international trade competitiveness. A high tax revenue signifies government strength in resource mobilization, while a lower percentage of taxes on income may impact wealth distribution and investment attractiveness. Additionally, a low applied tariff rate can enhance Hungary's attractiveness to foreign investors and promote economic growth through increased trade activities.

Government Expenses

Expense (% of GDP): Hungary's expense as a percentage of GDP is 44.16%, which is above the average of 31.69%. Hungary ranks 19th out of 123 countries in this attribute.

Compensation of employees (% of expense): Hungary's percentage of expense allocated to employee compensation is 19.38%, below the average of 24.70%. Hungary ranks 73rd out of 123 countries.

Goods and services expense (% of expense): Hungary's allocation towards goods and services expense is 15.07%, slightly above the average of 14.77%. Hungary ranks 49th out of 122 countries.

Interest payments (% of expense): Hungary spends 5.39% of its expenses on interest payments, below the average of 6.85%. Hungary ranks 57th out of 121 countries.

Other expense (% of expense): Hungary allocates 19.44% of its expenses to other categories, significantly above the average of 8.29%. Hungary ranks 9th out of 120 countries.

Subsidies and other transfers (% of expense): Hungary's expenses on subsidies and transfers account for 40.72%, which is below the average of 43.29%. Hungary ranks 65th out of 121 countries in this attribute.

Summary

Hungary's expense as a percentage of GDP is higher than the average, indicating a significant portion of its economic output is utilized for various expenditures. The country has a lower allocation towards employee compensation compared to the average, which may impact consumer purchasing power and economic growth. Hungary's above-average allocation towards other expenses suggests potential investments or obligations not categorized in the standard economic indicators.

These findings are crucial as they provide insights into how Hungary manages its resources and where its priorities lie in terms of expenditures. Understanding the distribution of expenses helps in evaluating the economic stability, growth prospects, and policy focus of the country in comparison to its global counterparts.

Top Stats

Ranks in Top Decile For:

Attribute	Rank/Total
Population ages 65 and above (% of total population)	17/194
Death rate, crude (per 1,000 people)	9/192
Medium and high-tech manufacturing value added (% manufacturing value added)	8/149
Machinery and transport equipment (% of value added in manufacturing)	8/93
Foreign direct investment, net inflows (BoP, current US$)	2/182
Foreign direct investment, net inflows (% of GDP)	1/178
Foreign direct investment, net outflows (BoP, current US$)	2/156
Foreign direct investment, net outflows (% of GDP)	2/155
Trade (% of GDP)	12/163
Merchandise trade (% of GDP)	9/186
Net capital account (BoP, current US$)	5/159
Exports of goods and services (% of GDP)	11/163
ICT goods exports (% of total goods exports)	13/142
Manufactures exports (% of merchandise exports)	10/152
Medium and high-tech exports (% manufactured exports)	5/149
Imports of goods and services (% of GDP)	15/163
ICT goods imports (% total goods imports)	14/143
Manufactures imports (% of merchandise imports)	2/152
Reserves and related items (BoP, current US$)	16/171
Other expense (% of expense)	9/120

Ranks in Bottom Decile For:

Attribute	Rank/Total
Population ages 0-14 (% of total population)	178/194
Food imports (% of merchandise imports)	148/152