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Economy of Albania vs Hungary compared: GDP & Debt

Updated on by Georank team

Albania has a GDP of $27B compared to $223B for Hungary, ranking 112/197 and 55/197 by economy size, respectively.

Albania has $15.2B in government debt (56% of GDP), compared to $164B (73.5% of GDP) in Hungary.

Albania vs Hungary GDP by year

Albania
Hungary
1x
Year GDP, current $
Albania Hungary
2024 $27,046,429,297 $222,722,738,926
2023 $23,491,242,727 $213,240,316,635
2022 $19,017,247,014 $177,002,580,544
2021 $18,031,989,573 $183,282,685,440
2020 $15,241,458,745 $158,468,487,754
2019 $15,585,111,614 $164,936,682,034
2018 $15,379,508,330 $161,184,691,014
2017 $13,258,268,436 $143,335,098,992
2016 $11,988,668,785 $128,983,560,865
2015 $11,470,171,827 $125,244,126,623
2014 $13,296,322,588 $141,128,696,412
2013 $12,796,985,886 $135,646,053,779
2012 $12,246,499,748 $128,470,269,690
2011 $12,973,755,875 $141,712,804,954
2010 $12,086,545,641 $131,898,737,241
2009 $12,335,540,656 $130,807,441,076
2008 $13,258,506,375 $158,228,265,916
2007 $11,116,937,870 $140,123,326,896
2006 $9,150,528,132 $115,604,111,412
2005 $8,256,658,250 $113,098,237,571
2004 $7,406,645,793 $104,015,363,080
2003 $5,801,712,040 $85,190,469,121
2002 $4,515,003,117 $67,636,468,625
2001 $4,059,064,033 $53,800,068,066
2000 $3,584,570,165 $47,275,954,429
1999 $3,283,941,510 $49,160,204,397
1998 $2,600,356,999 $48,784,412,624
1997 $2,293,666,030 $47,398,564,799
1996 $3,234,486,232 $46,833,767,124
1995 $2,905,092,799 $46,577,614,589
1994 $1,880,950,864 $43,307,949,890
1993 $1,185,315,468 $40,256,233,360
1992 $652,174,991 $38,857,339,125
1991 $1,099,559,028 $34,867,307,353
1990 $2,028,553,750 $34,478,360,679
1989 $2,253,090,000 $30,422,508,938
1988 $2,051,236,250 $29,799,838,597
1987 $2,080,796,250 $27,232,016,527
1986 $2,097,326,250 $24,778,163,812
1985 $1,897,050,117 $21,510,643,750
1984 $1,857,337,995 $21,242,726,264
1983 $1,881,412,587 $21,910,365,258
1982 $1,861,163,170 $24,141,667,188
1981 $1,808,177,156 $23,705,883,892
1980 $1,578,102,105 $23,116,977,148
1979 - $19,959,731,325
1978 - $17,286,744,154
1977 - $14,783,674,055
1976 - $13,235,612,079
1975 - $11,420,392,515
1974 - $10,016,338,179
1973 - $9,138,292,402
1972 - $7,379,313,742
1971 - $6,291,568,221
1970 - $5,780,929,203
1969 - $5,429,812,387
1968 - $4,886,222,555

Data sources: World Bank | Economy & Growth (1968–2024, retrieved 2026-04-06).

GeoRank.org/economy/albania/hungary | CC BY

GDP per capita in Albania vs Hungary by year

Albania
GDP per capita

GDP per capita, PPP
Hungary
GDP per capita

GDP per capita, PPP
1x
Year Current $
Albania Hungary
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $11,378 $26,702 $23,292 $48,552
2023 $9,731 $24,822 $22,231 $46,592
2022 $7,757 $22,138 $18,428 $44,366
2021 $7,242 $18,213 $19,031 $38,887
2020 $6,028 $16,288 $16,387 $35,584
2019 $6,069 $16,442 $17,013 $35,627
2018 $5,898 $15,055 $16,605 $32,258
2017 $5,006 $14,111 $14,736 $29,728
2016 $4,458 $13,056 $13,216 $28,179
2015 $4,200 $12,387 $12,783 $26,938
2014 $4,794 $11,788 $14,353 $25,796
2013 $4,543 $10,882 $13,739 $24,592
2012 $4,281 $10,609 $12,950 $23,205
2011 $4,466 $10,273 $14,211 $22,992
2010 $4,149 $9,755 $13,190 $21,691
2009 $4,214 $9,031 $13,051 $20,691
2008 $4,499 $8,469 $15,763 $20,709
2007 $3,743 $7,585 $13,935 $19,089
2006 $3,058 $6,753 $11,478 $18,362
2005 $2,742 $6,014 $11,212 $17,091
2004 $2,447 $5,595 $10,291 $16,251
2003 $1,909 $5,169 $8,410 $15,460
2002 $1,480 $4,840 $6,658 $14,532
2001 $1,326 $4,451 $5,281 $13,223
2000 $1,160 $3,978 $4,630 $11,872
1999 $1,056 $3,549 $4,802 $10,892
1998 $831 $3,086 $4,752 $10,415
1997 $729 $2,760 $4,606 $9,846
1996 $1,021 $3,054 $4,542 $9,388
1995 $911 $2,777 $4,509 $9,222
1994 $586 $2,385 $4,187 $8,888
1993 $367 $2,143 $3,887 $8,441
1992 $200.9 $1,899 $3,747 $8,284
1991 $337 $1,989 $3,361 $8,352
1990 $617 $2,656 $3,324 $9,169
1989 $698 - $2,902 -
1988 $653 - $2,812 -
1987 $675 - $2,566 -
1986 $694 - $2,331 -
1985 $640 - $2,020 -
1984 $639 - $1,991 -
1983 $662 - $2,050 -
1982 $668 - $2,255 -
1981 $663 - $2,213 -
1980 $591 - $2,158 -
1979 - - $1,865 -
1978 - - $1,618 -
1977 - - $1,388 -
1976 - - $1,249 -
1975 - - $1,083 -
1974 - - $956 -
1973 - - $876 -
1972 - - $710 -
1971 - - $607 -
1970 - - $559 -
1969 - - $527 -
1968 - - $476 -

Data sources: World Bank | Economy & Growth (1968–2024, retrieved 2026-04-06).

GeoRank.org/economy/albania/hungary | CC BY

Albania's GDP per capita is $11,378, ranking 82/197, compared to $23,292 in Hungary, ranking 55/197. Adjusted for purchasing power (GDP per capita PPP), Albania ranks 79th at $26,702, while Hungary ranks 48th at $48,552.

Economic indicators

Albania Hungary
Gross domestic product
$27B
2024
$223B
2024
GDP rank
112/197
2024
55/197
2024
GDP growth
4.05%
2023-2024
0.56%
2023-2024
GDP per capita
$11,378
2024
$23,292
2024
GDP per capita rank
82/197
2024
55/197
2024
GDP per capita, PPP
$26,702
2024
$48,552
2024
GDP per capita PPP rank
79/197
2024
48/197
2024
Government debt
$15.2B
2024
$164B
2024
Debt-to-GDP ratio
56%
2024
73.5%
2024
Government debt per person
$6,375
2024
$17,109
2024
Government debt per person rank
72/185
2024
37/185
2024
Average annual personal income after taxes
$9,075
2026
$16,996
2026
Market capitalization of domestic companies n/a
$41.5B
2024
Number of millionaires n/a
24,692
2025
Number of billionaires
1
2025
4
2025
Income share by richest 10%
22.8%
2020
24.4%
2022
Income share by poorest 10%
3.4%
2020
2.8%
2022
Government expenditure, % of GDP
28.9%
2024
46.9%
2024
Consumer prices inflation
2.2%
2023-2024
3.7%
2023-2024
Central bank interest rate
2.5%
2025
6.5%
2024
Unemployment rate
10.7%
2023
4.47%
2024
Population
2342753
9475525

Spending and national debt comparison by year

Albania
Spending

Debt
Hungary
Spending

Debt
1x
Year % of GDP
Albania Hungary
Government spending Government debt Government spending Government debt
2024 28.9% 56% 46.9% 73.5%
2023 28.5% 58% 49.2% 73%
2022 30.3% 65.2% 48.7% 73.9%
2021 31.9% 74.8% 48.1% 76.2%
2020 32.4% 75.4% 51% 78.7%
2019 28.8% 66.6% 45.8% 65%
2018 28.7% 68.5% 45.9% 68.8%
2017 29.2% 71.9% 46.6% 72%
2016 29.1% 73.3% 46.7% 74.6%
2015 30.8% 73.7% 50.4% 75.7%
2014 31.7% 72% 50% 76.5%
2013 29.2% 70.4% 50.1% 77.2%
2012 28.2% 62.1% 49.2% 78.4%
2011 28.9% 59.4% 49.1% 80.5%
2010 29.4% 57.7% 48.9% 80.2%
2009 32.7% 59.7% 50.7% 78.2%
2008 31.7% 55.1% 48.8% 71.8%
2007 29.3% 53.6% 49.9% 65.6%
2006 29.2% 56.7% 51.4% 64.5%
2005 28.9% 58.2% 49.4% 60.6%
2004 30.2% 57.5% 48.8% 58.9%
2003 29.7% 60.2% 49.2% 58.2%
2002 31.5% 64.1% 51% 55.6%
2001 32.7% 60.6% 47.2% 52.2%
2000 33.8% 63.8% 47.3% 55.6%
1999 37.1% 68.2% 48.9% 60.3%
1998 36.8% 71.2% 50.7% 60.4%
1997 30.3% 72.2% 49.5% 62.2%
1996 - - 50.9% 71.2%
1995 - - 55% 83.9%
1994 - - - 86.2%
1993 - - - 87.2%
1992 - - - 76.5%
1991 - - - 74.2%
1990 - - - 63.7%
1989 - - - 70.7%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1995–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1989–1994, retrieved 2026-02-20).

GeoRank.org/economy/albania/hungary | CC BY

In 2024, Albania's government spending was $7.83B, accounting for 28.9% of its GDP, while Hungary spent $104B, or 46.9% of GDP.

Debt-to-GDP ratio is 56% in Albania and 73.5% in Hungary, ranking 94/185 and 49/185, respectively.

Government deficit by year

Deficit/surplus
Albania

Hungary
1x
Year Deficit/surplus, % of GDP
Albania Hungary
2024 -0.72% -4.92%
2023 -1.32% -6.75%
2022 -3.64% -6.17%
2021 -4.57% -7.11%
2020 -6.67% -7.49%
2019 -1.92% -2.02%
2018 -1.6% -2.05%
2017 -1.41% -2.45%
2016 -1.5% -1.79%
2015 -4.32% -2%
2014 -5.46% -2.77%
2013 -5.22% -2.6%
2012 -3.44% -2.33%
2011 -3.52% -5.22%
2010 -3.52% -4.44%
2009 -6.59% -4.76%
2008 -4.88% -3.78%
2007 -3.18% -5.09%
2006 -3.26% -9.27%
2005 -3.46% -7.79%
2004 -5.16% -6.6%
2003 -5.01% -7.19%
2002 -6.21% -8.79%
2001 -6.84% -4%
2000 -7.77% -3.04%
1999 -8.84% -5.27%
1998 -9.93% -7.41%
1997 -11.9% -5.54%
1996 - -4.36%
1995 - -8.57%
1994 - -
1993 - -
1992 - -
1991 - -
1990 - -
1989 - -
1988 - -
1987 - -
1986 - -
1985 - -
1984 - -
1983 - -
1982 - -
1981 - -
1980 - -
1979 - -
1978 - -
1977 - -
1976 - -
1975 - -
1974 - -
1973 - -
1972 - -
1971 - -
1970 - -
1969 - -
1968 - -
1967 - -
1966 - -
1965 - -
1964 - -
1963 - -
1962 - -
1961 - -
1960 - -
1959 - -
1958 - -
1957 - -
1956 - -
1955 - -
1954 - -
1953 - -
1952 - -
1951 - -
1950 - -
1949 - -
1948 - -
1947 - -
1946 - -
1945 - -
1944 - -
1943 - -0.17%
1942 - 0.31%
1941 - 0.2%
1940 - -0.07%
1939 - 0.19%
1938 - -0.11%
1937 - -0.01%
1936 - 0.08%
1935 - 0.03%
1934 - 0.04%
1933 - -0.03%
1932 - -0.22%
1931 - -0.32%
1930 - -0.26%
1929 - 0.02%
1928 - 0.12%
1927 - 0.15%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1995–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1927–1943, retrieved 2026-02-20).

GeoRank.org/economy/albania/hungary | CC BY

In 2024, Albania's government deficit, the difference between spending and revenue, was $196M, equivalent to 0.72% of GDP. This compares to Hungary's deficit of $10.9B, or 4.92% of GDP.

Over the past 28 years, Albania recorded a fiscal deficit in 28 of those years, while Hungary ran a deficit in 28 years. On average, Albania posted an annual deficit equal to 4.71% of GDP, compared to deficit of 4.95% of GDP for Hungary.

Inflation comparison by year

Inflation
Albania

Hungary
1x
Year Consumer prices inflation
Albania Hungary
2024 2.2% 3.7%
2023 4.8% 17.1%
2022 6.7% 14.6%
2021 2% 5.11%
2020 1.6% 3.33%
2019 1.4% 3.34%
2018 2% 2.85%
2017 2% 2.35%
2016 1.3% 0.39%
2015 1.9% -0.06%
2014 1.6% -0.23%
2013 1.9% 1.73%
2012 2% 5.65%
2011 3.4% 3.93%
2010 3.6% 4.86%
2009 2.2% 4.21%
2008 3.3% 6.04%
2007 3% 7.96%
2006 2.4% 3.93%
2005 2.4% 3.56%
2004 2.9% 6.74%
2003 2.4% 4.66%
2002 5.2% 5.27%
2001 3.1% 9.12%
2000 0% 9.8%
1999 0.4% 10%
1998 20.6% 14.2%
1997 33.2% 18.3%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/albania/hungary | CC BY

Over the past 28 years, Albania has recorded an average annual inflation rate of 4.27%, compared with 6.16% in Hungary. In 2024, inflation was 2.2% in Albania and 3.7% in Hungary.

Top exports between countries

Albania
Export category Export value
Transport & tourism services $13.8M
Textiles & consumer goods $10.9M
Raw agricultural goods $4.79M
Business & finance services $4.5M
Metals $448K
Raw materials & minerals $361K
IT & IP services $355K
Processed food, beverages & tobacco $287K
Machinery & equipment $247K
Chemicals & pharma $190K
Hungary
Export category Export value
Machinery & equipment $58.5M
Animal & marine products $27M
Chemicals & pharma $23.1M
Textiles & consumer goods $12.2M
Processed food, beverages & tobacco $11.4M
Raw materials & minerals $8.84M
Metals $4.1M
Wood & paper products $2.83M
Raw agricultural goods $1.31M
Miscellaneous $244K

Balance of trade

Albania Hungary
Current account balance
-$648M
2024
$3.52B
2024
Current account balance ranking
112/190
2024
36/190
2024
Current account balance, % of GDP
-2.4%
2024
+1.58%
2024
Goods imports
$7.87B
2024
$130B
2024
Goods exports
$1.82B
2024
$129B
2024
Service imports
$3.83B
2024
$27.9B
2024
Service exports
$8.03B
2024
$38.9B
2024
Imports of goods and services, % of GDP
43.2%
2024
71.1%
2024
Exports of goods and services, % of GDP
36.3%
2024
75.4%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Albania Hungary
Economic freedom 68 62.5
Economic freedom ranking 50/197 86/197
Property rights 57.6 67.3
Government integrity 41.9 44
Judicial effectiveness 59.9 61.9
Tax burden 89.3 85.1
Government spending 74.3 30.2
Fiscal health 88 32.7
Business freedom 76.6 70.8
Labor freedom 46.2 56.5
Monetary freedom 78.6 72.1
Trade freedom 83 79.4
Investment freedom 60 80
Financial freedom 60 70

Economic freedom comparison by year

Albania
Hungary
1x
Year Economic freedom index
Albania Hungary
2026 68 62.5
2025 66.6 61.4
2024 64.8 61.2
2023 65.3 64.1
2022 66.6 66.9
2021 65.2 67.2
2020 66.9 66.4
2019 66.5 65
2018 64.5 66.7
2017 64.4 65.8
2016 65.9 66
2015 65.7 66.8
2014 66.9 67
2013 65.2 67.3
2012 65.1 67.1
2011 64 66.6
2010 66 66.1
2009 63.7 66.8
2008 62.4 67.6
2007 61.4 64.8
2006 60.3 65
2005 57.8 63.5
2004 58.5 62.7
2003 56.8 63
2002 56.8 64.5
2001 56.6 65.6
2000 53.6 64.4
1999 53.4 59.6
1998 53.9 56.9
1997 54.8 55.3
1996 53.8 56.8
1995 49.7 55.2

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

GeoRank.org/economy/albania/hungary | CC BY

The Economic Freedom Index for Albania is 68, ranking 50/197, compared to 62.5 for Hungary, ranking 86/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Albania Hungary
Services, % of GDP
48.7%
2024
59.5%
2024
Industry, % of GDP
22.4%
2024
23.7%
2024
Agriculture, forestry, and fishing, % of GDP
15.5%
2024
2.71%
2024
GNI, Atlas method
$23.6B
2024
$199B
2024
GNI per capita, PPP
$26,500
2024
$47,290
2024
Total reserves including gold
$6.52B
2024
$46.4B
2024
Total reserves ranking
89/177
2024
42/177
2024
Net foreign direct investment
-$1.45B
2024
-$15.8B
2024
Net inflows of foreign direct investment
$1.71B
2024
-$62.2B
2024
Net outflows of foreign direct investment
$261M
2024
-$78B
2024
Servicing debt to the IMF, % of GNI
3.25%
2024
n/a
Poverty at national poverty lines
19.7%
2022
12.1%
2021
Gross capital formation, % of GDP
25%
2024
23.5%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/albania/hungary | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1968–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1995–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  4. International Monetary Fund (IMF) | Public Finances in Modern History (1927–1994, retrieved 2026-02-20)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. TradeMap (2021–2024, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.