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Economy of Georgia vs Hungary compared: GDP & Debt

Updated on by Georank

Georgia has a GDP of $38.1B compared to $246B for Hungary, ranking 106/197 and 55/197 by economy size, respectively.

Georgia has $13.1B in government debt (34.3% of GDP), compared to $185B (75.2% of GDP) in Hungary.

Georgia vs Hungary GDP by year

Georgia
Hungary
1x
Year GDP, current $
Georgia Hungary
2025 $38,143,612,855 $246,490,213,513
2024 $34,189,423,333 $222,848,211,034
2023 $30,777,833,601 $213,029,511,029
2022 $24,984,568,960 $177,002,580,544
2021 $18,853,115,589 $183,282,685,440
2020 $16,010,869,216 $158,468,487,754
2019 $17,638,337,117 $164,936,682,034
2018 $17,902,544,881 $161,184,691,014
2017 $16,473,125,375 $143,335,098,992
2016 $15,444,548,902 $128,983,560,865
2015 $15,223,796,149 $125,244,126,623
2014 $17,966,015,109 $141,128,696,412
2013 $17,517,660,144 $135,646,053,779
2012 $16,894,392,033 $128,470,269,690
2011 $15,475,290,469 $141,712,804,954
2010 $12,426,907,967 $131,898,737,241
2009 $10,766,920,066 $130,807,441,076
2008 $12,795,145,131 $158,228,265,916
2007 $10,172,931,089 $140,123,326,896
2006 $7,745,250,734 $115,604,111,412
2005 $6,410,912,050 $113,098,237,571
2004 $5,125,365,192 $104,015,363,080
2003 $3,991,377,904 $85,190,469,121
2002 $3,395,766,678 $67,636,468,625
2001 $3,219,462,262 $53,800,068,066
2000 $3,057,475,335 $47,275,954,429
1999 $2,800,025,883 $49,160,204,397
1998 $3,613,497,317 $48,784,412,624
1997 $3,510,520,231 $47,398,564,799
1996 $3,094,936,177 $46,833,767,124
1995 $2,693,732,612 $46,577,614,589
1994 $2,513,867,645 $43,307,949,890
1993 $2,701,181,331 $40,256,233,360
1992 $3,690,328,964 $38,857,339,125
1991 $6,324,503,311 $34,867,307,353
1990 $7,735,927,264 $34,478,360,679
1989 $8,902,632,715 $30,422,508,938
1988 $8,833,588,173 $29,799,838,597
1987 $7,321,981,334 $27,232,016,527
1986 - $24,778,163,812
1985 - $21,510,643,750
1984 - $21,242,726,264
1983 - $21,910,365,258
1982 - $24,141,667,188
1981 - $23,705,883,892
1980 - $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 (1968–2025, retrieved 2026-07-08).

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

GDP per capita in Georgia vs Hungary by year

Georgia
GDP per capita

GDP per capita, PPP
Hungary
GDP per capita

GDP per capita, PPP
1x
Year Current $
Georgia Hungary
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $9,692 - $25,907 -
2024 $8,968 $28,285 $23,305 $48,552
2023 $8,284 $25,072 $22,209 $46,592
2022 $6,730 $22,461 $18,428 $44,366
2021 $5,084 $18,916 $19,031 $38,887
2020 $4,301 $16,791 $16,387 $35,584
2019 $4,741 $16,770 $17,013 $35,627
2018 $4,804 $15,022 $16,605 $32,258
2017 $4,419 $13,719 $14,736 $29,728
2016 $4,143 $13,065 $13,216 $28,179
2015 $4,087 $12,270 $12,783 $26,938
2014 $4,830 $11,771 $14,353 $25,796
2013 $4,712 $10,797 $13,739 $24,592
2012 $4,531 $10,060 $12,950 $23,205
2011 $4,120 $8,564 $14,211 $22,992
2010 $3,282 $7,712 $13,190 $21,691
2009 $2,823 $7,119 $13,051 $20,691
2008 $3,325 $7,279 $15,763 $20,709
2007 $2,635 $6,951 $13,935 $19,089
2006 $1,996 $5,980 $11,478 $18,362
2005 $1,643 $5,272 $11,212 $17,091
2004 $1,305 $4,635 $10,291 $16,251
2003 $1,010 $4,240 $8,410 $15,460
2002 $854 $3,719 $6,658 $14,532
2001 $802 $3,441 $5,281 $13,223
2000 $750 $3,161 $4,630 $11,872
1999 $674 $2,977 $4,802 $10,892
1998 $852 $2,795 $4,752 $10,415
1997 $807 $2,616 $4,606 $9,846
1996 $689 $2,253 $4,542 $9,388
1995 $578 $1,919 $4,509 $9,222
1994 $520 $1,764 $4,187 $8,888
1993 $550 $1,898 $3,887 $8,441
1992 $757 $2,643 $3,747 $8,284
1991 $1,308 $4,727 $3,361 $8,352
1990 $1,611 $5,836 $3,324 $9,169
1989 $1,853 - $2,902 -
1988 $1,844 - $2,812 -
1987 $1,544 - $2,566 -
1986 - - $2,331 -
1985 - - $2,020 -
1984 - - $1,991 -
1983 - - $2,050 -
1982 - - $2,255 -
1981 - - $2,213 -
1980 - - $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 (1968–2025, retrieved 2026-07-08).

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

Georgia's GDP per capita is $9,692, ranking 89/197, compared to $25,907 in Hungary, ranking 52/197. Adjusted for purchasing power (GDP per capita PPP), Georgia ranks 74th at $28,285, while Hungary ranks 48th at $48,552.

Economic indicators

Georgia Hungary
Gross domestic product
$38.1B
2025
$246B
2025
GDP rank
106/197
2025
55/197
2025
GDP growth
7.46%
2024-2025
0.51%
2024-2025
GDP per capita
$9,692
2025
$25,907
2025
GDP per capita rank
89/197
2025
52/197
2025
GDP per capita, PPP
$28,285
2024
$48,552
2024
GDP per capita PPP rank
74/197
2024
48/197
2024
Government debt
$13.1B
2025
$185B
2025
Debt-to-GDP ratio
34.3%
2025
75.2%
2025
Government debt per person
$3,323
2025
$19,473
2025
Government debt per person rank
99/185
2025
33/185
2025
Average annual personal income after taxes
$7,158
2026
$18,331
2026
Market capitalization of domestic companies n/a
$62.6B
2025
Number of millionaires n/a
27,000
2026
Number of billionaires
2
2026
4
2026
Income share by richest 10%
26.2%
2024
24.4%
2022
Income share by poorest 10%
2.9%
2024
2.8%
2022
Government expenditure, % of GDP
28.4%
2025
47.5%
2025
Consumer prices inflation
3.87%
2024-2025
4.41%
2024-2025
Central bank interest rate
8.25%
2026
6.25%
2026
Unemployment rate
8.01%
2024
4.4%
2025
Population
3934050
9454659

Spending and national debt comparison by year

Georgia
Spending

Debt
Hungary
Spending

Debt
1x
Year % of GDP
Georgia Hungary
Government spending Government debt Government spending Government debt
2025 28.4% 34.3% 47.5% 75.2%
2024 29.9% 35.7% 46.9% 73.5%
2023 29.7% 38.9% 49.3% 73.2%
2022 28.5% 39.2% 48.9% 74.1%
2021 31.2% 49.1% 48.1% 76.2%
2020 34.1% 59.6% 51% 78.7%
2019 28.7% 40% 45.8% 65%
2018 26.7% 38.2% 45.9% 68.8%
2017 27.2% 38.9% 46.6% 72%
2016 27.8% 39.5% 46.7% 74.6%
2015 27% 36% 50.4% 75.7%
2014 27.5% 30.3% 50% 76.5%
2013 26.6% 28.9% 50.1% 77.2%
2012 27.7% 28.1% 49.2% 78.4%
2011 27.1% 27.7% 49.1% 80.5%
2010 31% 31.4% 48.9% 80.2%
2009 34.8% 33.6% 50.7% 78.2%
2008 31.8% 26.3% 48.8% 71.8%
2007 27.7% 22.5% 49.9% 65.6%
2006 22.7% 28.3% 51.4% 64.5%
2005 21.6% 35.3% 49.4% 60.6%
2004 18.9% 44.3% 48.8% 58.9%
2003 16.1% 54.6% 49.2% 58.2%
2002 16% 50.3% 51% 55.6%
2001 16.8% 53% 47.2% 52.2%
2000 16.9% 58.5% 47.3% 55.6%
1999 19.7% 76.5% 48.9% 60.3%
1998 18.7% 80% 50.7% 60.4%
1997 21.4% 48.2% 49.5% 62.2%
1996 18.4% 38.9% 50.9% 71.2%
1995 15.7% 19.8% 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 (1995–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1989–1999, retrieved 2026-07-08).

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

In 2025, Georgia's government spending was $10.8B, accounting for 28.4% of its GDP, while Hungary spent $117B, or 47.5% of GDP.

Debt-to-GDP ratio is 34.3% in Georgia and 75.2% in Hungary, ranking 147/185 and 50/185, respectively.

Government deficit by year

Deficit/surplus
Georgia

Hungary
1x
Year Deficit/surplus, % of GDP
Georgia Hungary
2025 -1.46% -4.68%
2024 -2.27% -4.9%
2023 -2.33% -6.77%
2022 -2.2% -6.19%
2021 -5.97% -7.11%
2020 -9.16% -7.49%
2019 -1.82% -2.02%
2018 -0.8% -2.05%
2017 -0.45% -2.45%
2016 -1.49% -1.79%
2015 -1.16% -2%
2014 -1.78% -2.77%
2013 -1.25% -2.6%
2012 -0.71% -2.33%
2011 -0.81% -5.22%
2010 -4.48% -4.44%
2009 -6.36% -4.76%
2008 -1.92% -3.78%
2007 0.81% -5.09%
2006 3.28% -9.27%
2005 2.14% -7.79%
2004 3.59% -6.6%
2003 -0.55% -7.19%
2002 -0.19% -8.79%
2001 -0.71% -4%
2000 -1.92% -3.04%
1999 -4.7% -5.27%
1998 -3.96% -7.41%
1997 -6.63% -5.54%
1996 -5.91% -4.36%
1995 -4.89% -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 (1995–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1927–1943, retrieved 2026-07-08).

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

In 2025, Georgia's government deficit, the difference between spending and revenue, was $555M, equivalent to 1.46% of GDP. This compares to Hungary's deficit of $11.5B, or 4.68% of GDP.

Over the past 31 years, Georgia recorded a fiscal deficit in 27 of those years, while Hungary ran a deficit in 31 years. On average, Georgia posted an annual deficit equal to 2.13% of GDP, compared to deficit of 5.04% of GDP for Hungary.

Inflation comparison by year

Inflation
Georgia

Hungary
1x
Year Consumer prices inflation
Georgia Hungary
2025 3.87% 4.41%
2024 1.11% 3.7%
2023 2.49% 17.1%
2022 11.9% 14.6%
2021 9.57% 5.11%
2020 5.2% 3.33%
2019 4.85% 3.34%
2018 2.62% 2.85%
2017 6.04% 2.35%
2016 2.13% 0.39%
2015 4% -0.06%
2014 3.07% -0.23%
2013 -0.51% 1.73%
2012 -0.94% 5.65%
2011 8.54% 3.93%
2010 7.11% 4.86%
2009 1.73% 4.21%
2008 10% 6.04%
2007 9.24% 7.96%
2006 9.16% 3.93%
2005 8.25% 3.56%
2004 5.66% 6.74%
2003 0.84% 4.66%
2002 5.59% 5.27%
2001 4.65% 9.12%
2000 4.06% 9.8%
1999 19.2% 10%
1998 3.57% 14.2%
1997 7.09% 18.3%

Data sources: World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

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

Over the past 29 years, Georgia has recorded an average annual inflation rate of 5.52%, compared with 6.1% in Hungary. In 2025, inflation was 3.87% in Georgia and 4.41% in Hungary.

Top exports between countries

Georgia
Export category Export value
Transport & tourism services $5.71M
Machinery & equipment $1.84M
Textiles & consumer goods $728K
Processed food, beverages & tobacco $277K
Wood & paper products $252K
Raw materials & minerals $117K
Metals $61K
Business & finance services $32K
Chemicals & pharma $18K
Miscellaneous $16K
Hungary
Export category Export value
Chemicals & pharma $48.2M
Machinery & equipment $19.5M
Processed food, beverages & tobacco $7.53M
Raw materials & minerals $7.48M
Textiles & consumer goods $6.42M
Animal & marine products $2.49M
Metals $1.8M
Wood & paper products $1.26M
Raw agricultural goods $911K
Miscellaneous $328K

Balance of trade

Georgia Hungary
Current account balance
-$1.01B
2025
$4.08B
2025
Current account balance ranking
116/190
2025
34/190
2025
Current account balance, % of GDP
-2.65%
2025
+1.65%
2025
Goods imports
$16.5B
2025
$139B
2025
Goods exports
$9.63B
2025
$136B
2025
Service imports
$3.85B
2025
$29.8B
2025
Service exports
$8.49B
2025
$43.1B
2025
Imports of goods and services, % of GDP
53.2%
2025
68.1%
2025
Exports of goods and services, % of GDP
47.4%
2025
72.6%
2025

Economic freedom indices

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

Georgia Hungary
Economic freedom 69.6 62.5
Economic freedom ranking 41/197 86/197
Property rights 53 67.3
Government integrity 59.9 44
Judicial effectiveness 53.8 61.9
Tax burden 87.8 85.1
Government spending 73.9 30.2
Fiscal health 89.1 32.7
Business freedom 76.6 70.8
Labor freedom 64 56.5
Monetary freedom 70.2 72.1
Trade freedom 86.8 79.4
Investment freedom 60 80
Financial freedom 60 70

Economic freedom comparison by year

Georgia
Hungary
1x
Year Economic freedom index
Georgia Hungary
2026 69.6 62.5
2025 69 61.4
2024 68.4 61.2
2023 68.7 64.1
2022 71.8 66.9
2021 77.2 67.2
2020 77.1 66.4
2019 75.9 65
2018 76.2 66.7
2017 76 65.8
2016 72.6 66
2015 73 66.8
2014 72.6 67
2013 72.2 67.3
2012 69.4 67.1
2011 70.4 66.6
2010 70.4 66.1
2009 69.8 66.8
2008 69.2 67.6
2007 69.3 64.8
2006 64.5 65
2005 57.1 63.5
2004 58.9 62.7
2003 58.6 63
2002 56.7 64.5
2001 58.3 65.6
2000 54.3 64.4
1999 52.5 59.6
1998 47.9 56.9
1997 46.5 55.3
1996 44.1 56.8
1995 - 55.2

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08).

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

The Economic Freedom Index for Georgia is 69.6, ranking 41/197, 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

Georgia Hungary
Services, % of GDP
63.9%
2025
60.1%
2025
Industry, % of GDP
18.6%
2025
23%
2025
Agriculture, forestry, and fishing, % of GDP
5.18%
2025
2.65%
2025
GNI, Atlas method
$35.4B
2025
$227B
2025
GNI per capita, PPP
$27,570
2025
$48,630
2025
Total reserves including gold
$6.16B
2025
$59.1B
2025
Total reserves ranking
94/177
2025
42/177
2025
Net foreign direct investment
-$1.39B
2025
$9.1B
2025
Net inflows of foreign direct investment
$1.6B
2024
-$61.3B
2024
Net outflows of foreign direct investment
$462M
2024
-$76.3B
2024
Servicing debt to the IMF, % of GNI
15.2%
2024
n/a
Poverty at national poverty lines
9.4%
2024
12.1%
2021
Gross capital formation, % of GDP
21.3%
2025
22.2%
2025

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

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

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Data sources:

  1. World Bank | Economy & Growth (1968–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1995–2025, retrieved 2026-07-08)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  4. International Monetary Fund (IMF) | Public Finances in Modern History (1927–1999, retrieved 2026-07-08)
  5. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  6. TradeMap (2022–2025, retrieved 2026-07-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  8. LivingCost (2026, retrieved 2026-07-08)

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.