Economic performance grows by 7.2% in 4th quarter and by 7.1% in 2021 as a whole
The gross domestic product of Hungary increased by 7.2% according to raw data and by 7.1% according to seasonally and calendar adjusted and reconciled data in the 4th quarter of 2021 compared to the corresponding period of the previous year. Compared to the previous quarter, the economic performance rose by 2.1% according to seasonally and calendar adjusted and reconciled data. In 2021, the volume of GDP grew by 7.1%.
Compared to the previous quarter, the performance of the economy grew by 2.1% in the 4th quarter. The main contributor to the increase was market services.
The economic performance was up by 7.2% according to raw data and by 7.1% according to seasonally and calendar adjusted and reconciled data compared to the same quarter of the previous year.1
GDP was 4.0% larger according to raw data than in the 4th quarter of 2019.
In 2021, the economic performance increased by 7.1% compared to the previous year and by 2.1% compared to 2019 according to raw data.
Volume indices of GDP
(corresponding period of previous year = 100.0)
(%)
| Year | Unadjusted, raw data | Calendar-adjusted data | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| I | II | III | IV | I–II | I–III | I–IV | I | II | III | IV | I–II | I–III | I–IV | |
| 2018 | 105.0 | 105.4 | 105.5 | 105.5 | 105.2 | 105.3 | 105.4 | 105.4 | 105.2 | 105.7 | 105.3 | 105.3 | 105.4 | 105.4 |
| 2019 | 105.0 | 104.4 | 104.7 | 104.1 | 104.7 | 104.7 | 104.6 | 105.0 | 104.7 | 104.5 | 104.1 | 104.8 | 104.7 | 104.6 |
| 2020 | 102.0 | 87.0 | 95.7 | 97.0 | 94.1 | 94.7 | 95.3 | 101.6 | 87.0 | 95.7 | 96.6 | 93.9 | 94.6 | 95.1 |
| 2021 | 98.0 | 117.8 | 106.1 | 107.2 | 107.6 | 107.1 | 107.1 | 98.4 | 117.6 | 106.1 | 107.0 | 107.7 | 107.1 | 107.1 |
Seasonally and calendar adjusted and reconciled volume indices of GDP
(%)
| Year | I | II | III | IV | I–II | I–III | I–IV |
|---|---|---|---|---|---|---|---|
| corresponding period of previous year = 100.0 | |||||||
| 2018 | 105.5 | 105.2 | 105.7 | 105.3 | 105.3 | 105.5 | 105.4 |
| 2019 | 105.2 | 104.7 | 104.4 | 103.9 | 104.9 | 104.8 | 104.6 |
| 2020 | 101.6 | 86.8 | 95.6 | 96.5 | 94.2 | 94.6 | 95.1 |
| 2021 | 98.7 | 117.7 | 106.5 | 107.1 | 107.4 | 107.1 | 107.1 |
The ’annualised index’, built on dynamics projected for the future and published for a long time in US dissemination practice, indicates an 8.6% growth for the 4th quarter. The annualised index shows the extent of annual change supposing that the volume change in the current quarter – compared to the previous quarter – continued for four quarters.
Seasonally and calendar adjusted quarterly and annualised* volume indices of GDP
(%)
| Year | I | II | III | IV | I | II | III | IV |
|---|---|---|---|---|---|---|---|---|
| previous quarter = 100.0 | annualised index | |||||||
| 2018 | 101.8 | 100.9 | 101.4 | 101.0 | 107.5 | 103.8 | 105.8 | 104.0 |
| 2019 | 101.8 | 100.4 | 101.2 | 100.5 | 107.3 | 101.7 | 104.9 | 102.0 |
| 2020 | 99.5 | 85.7 | 111.5 | 101.5 | 98.0 | 54.0 | 154.6 | 106.0 |
| 2021 | 101.7 | 102.3 | 100.9 | 102.1 | 107.0 | 109.3 | 103.6 | 108.6 |
* It is assumed in the calculations that the change compared to the previous quarter remains constant for four quarters. The annualised index decreases sooner as an impact of an unexpected decline and better follows the trend of recovery than the seasonally and calendar adjusted and reconciled volume index compared to the corresponding period of the previous year.