Gross Domestic Product Per Capita for Hungary
PCAGDPHUA646NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
23,310.75
Year-over-Year Change
80.00%
Date Range
1/1/1968 - 1/1/2024
Summary
The Gross Domestic Product Per Capita for Hungary is a key economic indicator that measures the total economic output of Hungary divided by its population. It provides insights into a country's standard of living and economic development.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This trend represents the total economic production in Hungary divided by its total population, offering a metric of the country's economic output per person. It is widely used by economists, policymakers, and international organizations to assess Hungary's economic performance and living standards relative to other countries.
Methodology
The data is calculated by the World Bank using Hungary's reported GDP and population figures.
Historical Context
Trends in GDP per capita are closely monitored by policymakers and markets to gauge the overall health and growth trajectory of the Hungarian economy.
Key Facts
- Hungary's GDP per capita was $16,590 in 2021.
- GDP per capita has grown by over 60% in Hungary since 2000.
- Hungary's GDP per capita is lower than the EU average.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product Per Capita for Hungary measures the total economic output of the country divided by its population, providing a gauge of the standard of living and economic development.
Q: Why is this trend relevant for users or analysts?
A: GDP per capita is a widely used metric for assessing a country's economic performance and the overall prosperity of its population. It is closely monitored by policymakers, investors, and international organizations.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using Hungary's reported GDP and population figures.
Q: How is this trend used in economic policy?
A: Trends in GDP per capita are used by policymakers and markets to gauge the overall health and growth trajectory of the Hungarian economy, informing decisions on economic policies and investments.
Q: Are there update delays or limitations?
A: The data is typically updated annually by the World Bank, with a lag of around 1-2 years. There may be some limitations in accurately measuring the informal economy or accounting for income inequality within a country.
Related Trends
Consumer Price Index: Alcoholic Beverages, Tobacco and Narcotics (COICOP 02): Total for Hungary
HUNCP020000IXNBM
Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Miscellaneous Goods and Services for Hungary
HUNCPHP1200GYM
Harmonized Index of Consumer Prices: Motor Cars for Hungary
CP0711HUM086NEST
Infra-Annual Labor Statistics: Working-Age Population Total: From 15 to 74 Years for Hungary
LFWA74TTHUQ647N
Infra-Annual Labor Statistics: Employment Female: From 15 to 24 Years for Hungary
LFEM24FEHUA647N
Infra-Annual Labor Statistics: Labor Force Participation Rate Male: From 15 to 74 Years for Hungary
LRAC74MAHUQ156N
Citation
U.S. Federal Reserve, Gross Domestic Product Per Capita for Hungary (PCAGDPHUA646NWDB), retrieved from FRED.