Gross domestic product (GDP)

Economic performance decreases by 13.6%

The gross domestic product of Hungary went down by 13.6% according to raw data and by 13.5% according to seasonally and calendar adjusted and reconciled data in the 2nd quarter of 2020 compared to the corresponding period of the previous year. The extraordinary situation resulting from the corona virus pandemic caused production to decline in most sections of the economy, services and industry both largely contributed to the change in the economic performance. In the first half of the year, the economic performance decreased by 6.1% according to raw data.

Compared to the previous quarter, the volume of gross domestic product was down by 14.5% – according to seasonally and calendar adjusted and reconciled data – in the 2nd quarter of 2020.¹

Volume indices of GDP

(corresponding period of previous year = 100.0)

(%)

Year	Unadjusted, raw data							Calendar adjusted data
Year	I	II	III	IV	I–II	I–III	I–IV	I	II	III	IV	I–II	I–III	I–IV
2017	104.7	103.7	104.3	104.7	104.2	104.2	104.3	104.3	104.1	104.5	105.0	104.2	104.3	104.5
2018	104.7	105.0	105.3	105.3	104.9	105.0	105.1	105.1	104.9	105.5	105.1	105.0	105.1	105.1
2019	105.3	104.9	105.0	104.5	105.1	105.1	104.9	105.3	105.1	104.8	104.5	105.2	105.1	104.9
2020	102.2	86.4			93.9			101.8	86.4			93.7

Seasonally and calendar adjusted and reconciled volume indices of GDP

(%)

Year	I	II	III	IV	I–II	I–III	I–IV	I	II	III	IV
Year	corresponding period of previous year = 100.0							previous quarter = 100.0
2017	104.2	104.1	104.5	105.1	104.2	104.3	104.5	101.5	101.2	100.9	101.4
2018	105.1	105.0	105.4	105.0	105.0	105.2	105.1	101.5	101.1	101.3	101.0
2019	105.5	105.2	104.7	104.4	105.3	105.1	104.9	101.9	100.8	100.9	100.7
2020	102.0	86.5			94.2			99.6	85.5

First release

Gross domestic product (GDP), 2nd quarter 2020 (flash estimate)

Economic performance decreases by 13.6%