Hungary exits recession with 0.2% GDP growth

Hungary's Gross Domestic Product (GDP) showed a slight increase by 0.2% at the end of 2024, signaling an exit from recession.

January 31, 2025

According to the Central Statistical Office (KSH), raw data indicated a 0.4% growth, while seasonally adjusted figures reflected the 0.2% increase compared to the same period the previous year. From the previous quarter, the economy expanded by 0.5%, thus marking the end of a technical recession observed in the third quarter of the same year.

Economic Performance by Sector

The modest growth in GDP for 2024 can be attributed mainly to the performance of the service sector. However, other sectors including agriculture, industry, and construction continued to experience a decline.

The government had anticipated slightly positive GDP figures, which were confirmed by KSH's data.

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