In 2021, the Hungarian economy expanded by 7.1%, meaning that the recovery from the coronavirus pandemic was swift. As for individual sectors, agricultural output fell by 2.2%, while industrial output was up 9.8%, construction 15.8% and services 6.2% on a year earlier. This means that agriculture contributed -0.1 percentage points to growth, while the industrial sector contributed 1.9 percentage points, construction 0.7 percentage points and services 3.6 percentage points.

On the consumption side, the volume of household final consumption expenditure grew by 4.3%, collective consumption by 4.8% and investments by 6.0%. Exports were up 10.1% and imports 8.2% on a year earlier. Thus, the contribution of consumption to growth was 2.0 percentage points, that of collective consumption 0.5 percentage points, that of investment 1.6 percentage points and that of net exports 1.7 percentage points.

The full report can be downloaded here ->