Hungary PESTLE Insights – A Macroeconomic Outlook Report

Financial intermediation, real estate, and business activities contributed 24.4% to the gross value added (GVA) in 2023, followed by mining, manufacturing, and utilities, (23.9%) and wholesale, retail and hotels (13.7%). In nominal terms, the three sectors are forecast to grow by 6.9%, 6.7%, and 6.9%, respectively, in 2024.

Budapest generated around 47.9% of Hungarian GDP (2023) and comprised 31.6% of the country’s population, in 2023, according to MarketLine’s cities database

Scope

In August 2023, Hungary's Ministry of Construction and Transport introduced a 10-year railway development plan. It focuses on modernizing the rail network, including upgrading Budapest's HÉV lines, improving intercity connections, and enhancing county routes in collaboration with Volán.

Reasons to buy

Macroeconomic Outlook Report identifies the potentials of the country as an investment destination by analyzing the political, economic, social, technological, legal and environmental (PESTLE) structure.

PESTLE Insights provides 360 degree view of the economy which can be used as a strategic tool to understand the market dynamics, business potentials and direction of operations

Along with providing the country’s snapshot, the report captures the risk factors pertaining to the macroeconomic risks, political environment, legal environment, demographic and social structure effectiveness, technology & infrastructure and natural and geographic aspects that might impact business.

This report also highlights key clusters/cities which contribute significantly to the country GDP and population along with major companies’ presence in these areas.

Companies mentioned

Balabit

Graphisoft

Nexon

Table of Contents

List of Exhibits

Did You Know?

Country Highlights

Key Economic Updates

Country Snapshot

Political Landscape

Economic Landscape

Social Landscape

Technological Landscape

Legal Landscape

Environmental Landscape

Outlook

List of Tables

Exhibit 1: Hungary’s performance in terms of its country risk analysis in comparison to East Europe and the World average

Exhibit 2: Performance overview (score: 0–100)

Exhibit 3: Broad categories and weights behind the index

Exhibit 4: Hungary stock exchange index – BUX Index

Exhibit 5: Key sectors’ contribution to the economy

Exhibit 6: FDI inflows and FDI inward stock (2018–22)

Exhibit 7: Greenfield FDI projects and net cross border M&A deals (2018–22)

Exhibit 8: Key infrastructure indicators

Exhibit 9: Real GDP and household consumption growth rate (2019–26f)

Exhibit 10: Real GDP growth rate comparison (2023e)

Exhibit 11: Volume of exports and imports growth (2019–26f)

Exhibit 12: Current account balance (2019–26f)

Exhibit 13: Top three commodity exports, % of total exports (2018–22)

Exhibit 14: Exports of electrical machinery and equipment and parts thereof, % share of the world’s total (2022)

Exhibit 15: Interest rates (January 2019 – January 2024)

Exhibit 16: Exchange rate and inflation (2019–26f)

Exhibit 17: General government deficit (2019–26f)

Exhibit 18: General government debt (2019–26f)

Exhibit 19: Unemployment rate (2019–26f)

Exhibit 20: Labor force participation rate (2019–26f)

Exhibit 21: Average annual wages (2019–26f)

Exhibit 22: Rural/urban share of total population (1995, 2005, 2015, 2025f)

Exhibit 23: Age-group share of total population (1995, 2005, 2015, 2025f)

Exhibit 24: Gender split (1995, 2005, 2015, 2025f)

Exhibit 25: Internet users as a percentage of total population, mobile penetration rate and broadband penetration rate (2023e)

Exhibit 26: Number of patents granted per million population (2022)

Exhibit 27: High-technology exports, % of manufactured exports (2022)

Exhibit 28: Rule of law (rankings) 2023

Exhibit 29: Corruption perceptions index (rankings) (2023)

Exhibit 30: Renewable energy capacity (2018–23)

Exhibit 31: CO2 emissions (2018–22)

List of Figures

Exhibit 1: Hungary’s performance in terms of its country risk analysis in comparison to East Europe and the World average

Exhibit 2: Performance overview (score: 1–100)

Exhibit 3: Broad categories and weights behind the index

Exhibit 4: Hungary stock exchange index – BUX Index (January 2022 – January 2023)

Exhibit 5: Hungary exchange rate (January 2022 – January 2023)

Exhibit 6: Key sectors’ contribution to the economy (2018–25f)

Exhibit 7: FDI flows (Q4 2020–Q4 2021) and FDI by sector (Q3 2021–Q4 2021)

Exhibit 8: FDI by countries and region (Q1 2021–Q4 2021)

Exhibit 9: Key infrastructure indicators

Exhibit 10: Real GDP and household consumption growth rate (2018–25f)

Exhibit 11: Real GDP growth rate comparison (2022e)

Exhibit 12: Volume of exports and imports of goods and services (2018–25f)

Exhibit 13: Current account balance (2018–25f)

Exhibit 14: Top three commodity exports, % of total exports (2018–21)

Exhibit 15: Electrical machinery and equipment and parts thereof, % of world’s total (2021)

Exhibit 16: Interest rates (December 2017 – December 2022)

Exhibit 17: Exchange rate and inflation (2018–25f)

Exhibit 18: Public finance (2018–25f)

Exhibit 19: General government debt (2018–25f)

Exhibit 20: Unemployment (2018–25f)

Exhibit 21: Average annual wages (2018–25f)

Exhibit 22: Labor cost index (2018–25f)

Exhibit 23: Rural/urban share of total population (1995, 2005, 2015, 2025)

Exhibit 24: Age-group share of total population (1995, 2005, 2015, 2025)

Exhibit 25: Gender split (1995, 2005, 2015, 2025)

Exhibit 26: Internet users as a percentage of total population, mobile penetration rate and broadband penetration rate (2022e)

Exhibit 27: Number of patents granted per million people (2021)

Exhibit 28: High-technology exports, % of manufactured exports (2021)

Exhibit 29: Rule of law index (ranking) 2022

Exhibit 30: Corruption perception index (rankings) (2022)

Exhibit 31: Renewable energy, installed capacity (2016–20)

Exhibit 32: CO2 emissions (2017–21)

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