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Economy of Hungary vs Indonesia compared: GDP & Debt

Updated on by Georank team

Hungary has a GDP of $223B compared to $1.4T for Indonesia, ranking 55/197 and 16/197 by economy size, respectively.

Hungary has $164B in government debt (73.5% of GDP), compared to $561B (40.2% of GDP) in Indonesia.

Hungary vs Indonesia GDP by year

Hungary
Indonesia
1x
Year GDP, current $
Hungary Indonesia
2024 $222,722,738,926 $1,396,300,098,191
2023 $213,240,316,635 $1,371,169,301,564
2022 $177,002,580,544 $1,319,101,183,380
2021 $183,282,685,440 $1,186,509,691,087
2020 $158,468,487,754 $1,059,054,842,698
2019 $164,936,682,034 $1,119,099,871,350
2018 $161,184,691,014 $1,042,271,532,989
2017 $143,335,098,992 $1,015,618,744,160
2016 $128,983,560,865 $931,877,364,038
2015 $125,244,126,623 $860,854,232,686
2014 $141,128,696,412 $890,814,755,534
2013 $135,646,053,779 $912,524,136,718
2012 $128,470,269,690 $917,869,913,333
2011 $141,712,804,954 $892,969,104,563
2010 $131,898,737,241 $755,094,157,622
2009 $130,807,441,076 $539,580,085,612
2008 $158,228,265,916 $510,228,634,992
2007 $140,123,326,896 $432,216,737,775
2006 $115,604,111,412 $364,570,515,618
2005 $113,098,237,571 $285,868,619,196
2004 $104,015,363,080 $256,836,875,295
2003 $85,190,469,121 $234,772,463,824
2002 $67,636,468,625 $195,660,611,165
2001 $53,800,068,066 $160,446,947,785
2000 $47,275,954,429 $165,021,012,078
1999 $49,160,204,397 $140,001,351,215
1998 $48,784,412,624 $95,445,547,873
1997 $47,398,564,799 $215,748,998,610
1996 $46,833,767,124 $227,369,679,375
1995 $46,577,614,589 $202,132,028,723
1994 $43,307,949,890 $176,892,143,932
1993 $40,256,233,360 $158,006,700,302
1992 $38,857,339,125 $128,026,966,580
1991 $34,867,307,353 $116,621,996,217
1990 $34,478,360,679 $106,140,727,334
1989 $30,422,508,938 $94,451,427,877
1988 $29,799,838,597 $84,300,174,486
1987 $27,232,016,527 $75,929,617,558
1986 $24,778,163,812 $79,954,072,545
1985 $21,510,643,750 $85,289,488,375
1984 $21,242,726,264 $84,853,700,028
1983 $21,910,365,258 $81,052,283,384
1982 $24,141,667,188 $90,158,449,295
1981 $23,705,883,892 $85,518,233,419
1980 $23,116,977,148 $72,482,337,397
1979 $19,959,731,325 $51,400,186,343
1978 $17,286,744,154 $51,455,719,076
1977 $14,783,674,055 $45,808,915,663
1976 $13,235,612,079 $37,269,156,627
1975 $11,420,392,515 $30,463,855,422
1974 $10,016,338,179 $25,802,409,639
1973 $9,138,292,402 $16,273,253,012
1972 $7,379,313,742 $10,997,590,361
1971 $6,291,568,221 $9,333,536,370
1970 $5,780,929,203 $9,150,684,932
1969 $5,429,812,387 $8,337,423,313
1968 $4,886,222,555 $7,076,465,300
1967 - $5,667,756,628

Data sources: World Bank | Economy & Growth (1967–2024, retrieved 2026-04-06).

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

GDP per capita in Hungary vs Indonesia by year

Hungary
GDP per capita

GDP per capita, PPP
Indonesia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Hungary Indonesia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $23,292 $48,552 $4,925 $16,448
2023 $22,231 $46,592 $4,876 $15,416
2022 $18,428 $44,366 $4,731 $14,285
2021 $19,031 $38,887 $4,287 $12,757
2020 $16,387 $35,584 $3,854 $11,729
2019 $17,013 $35,627 $4,107 $11,986
2018 $16,605 $32,258 $3,861 $11,372
2017 $14,736 $29,728 $3,799 $10,688
2016 $13,216 $28,179 $3,521 $10,263
2015 $12,783 $26,938 $3,288 $10,028
2014 $14,353 $25,796 $3,441 $10,065
2013 $13,739 $24,592 $3,567 $9,866
2012 $12,950 $23,205 $3,632 $9,530
2011 $14,211 $22,992 $3,579 $8,937
2010 $13,190 $21,691 $3,066 $8,353
2009 $13,051 $20,691 $2,218 $7,868
2008 $15,763 $20,709 $2,125 $7,569
2007 $13,935 $19,089 $1,823 $7,096
2006 $11,478 $18,362 $1,558 $6,583
2005 $11,212 $17,091 $1,238 $6,134
2004 $10,291 $16,251 $1,127 $5,700
2003 $8,410 $15,460 $1,043 $5,353
2002 $6,658 $14,532 $881 $5,076
2001 $5,281 $13,223 $732 $4,849
2000 $4,630 $11,872 $764 $4,639
1999 $4,802 $10,892 $657 $4,386
1998 $4,752 $10,415 $455 $4,356
1997 $4,606 $9,846 $1,045 $5,037
1996 $4,542 $9,388 $1,119 $4,807
1995 $4,509 $9,222 $1,011 $4,451
1994 $4,187 $8,888 $900 $4,096
1993 $3,887 $8,441 $817 $3,793
1992 $3,747 $8,284 $674 $3,538
1991 $3,361 $8,352 $624 $3,305
1990 $3,324 $9,169 $578 $3,044
1989 $2,902 - $524 -
1988 $2,812 - $477 -
1987 $2,566 - $438 -
1986 $2,331 - $470 -
1985 $2,020 - $511 -
1984 $1,991 - $520 -
1983 $2,050 - $508 -
1982 $2,255 - $578 -
1981 $2,213 - $561 -
1980 $2,158 - $487 -
1979 $1,865 - $353 -
1978 $1,618 - $362 -
1977 $1,388 - $331 -
1976 $1,249 - $275.7 -
1975 $1,083 - $231.1 -
1974 $956 - $200.7 -
1973 $876 - $129.9 -
1972 $710 - $90.1 -
1971 $607 - $78.5 -
1970 $559 - $79.1 -
1969 $527 - $74.1 -
1968 $476 - $64.7 -
1967 - - $53.2 -

Data sources: World Bank | Economy & Growth (1967–2024, retrieved 2026-04-06).

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

Hungary's GDP per capita is $23,292, ranking 55/197, compared to $4,925 in Indonesia, ranking 121/197. Adjusted for purchasing power (GDP per capita PPP), Hungary ranks 48th at $48,552, while Indonesia ranks 107th at $16,448.

Economic indicators

Hungary Indonesia
Gross domestic product
$223B
2024
$1.4T
2024
GDP rank
55/197
2024
16/197
2024
GDP growth
0.56%
2023-2024
5.03%
2023-2024
GDP per capita
$23,292
2024
$4,925
2024
GDP per capita rank
55/197
2024
121/197
2024
GDP per capita, PPP
$48,552
2024
$16,448
2024
GDP per capita PPP rank
48/197
2024
107/197
2024
Government debt
$164B
2024
$561B
2024
Debt-to-GDP ratio
73.5%
2024
40.2%
2024
Government debt per person
$17,109
2024
$1,978
2024
Government debt per person rank
37/185
2024
120/185
2024
Average annual personal income after taxes
$16,996
2026
$3,371
2026
Market capitalization of domestic companies
$41.5B
2024
$758B
2023
Number of millionaires
24,692
2025
178,605
2025
Number of billionaires
4
2025
33
2025
Income share by richest 10%
24.4%
2022
28.8%
2024
Income share by poorest 10%
2.8%
2022
3.5%
2024
Government expenditure, % of GDP
46.9%
2024
16.8%
2024
Consumer prices inflation
3.7%
2023-2024
2.18%
2023-2024
Central bank interest rate
6.5%
2024
4.75%
2025
Unemployment rate
4.47%
2024
3.31%
2023
Population
9475525
288551776

Spending and national debt comparison by year

Hungary
Spending

Debt
Indonesia
Spending

Debt
1x
Year % of GDP
Hungary Indonesia
Government spending Government debt Government spending Government debt
2024 46.9% 73.5% 16.8% 40.2%
2023 49.2% 73% 16.6% 39.6%
2022 48.7% 73.9% 17.3% 40.1%
2021 48.1% 76.2% 18.1% 41.1%
2020 51% 78.7% 18.4% 39.7%
2019 45.8% 65% 16.4% 30.6%
2018 45.9% 68.8% 16.6% 30.4%
2017 46.6% 72% 16.4% 29.4%
2016 46.7% 74.6% 16.9% 28%
2015 50.4% 75.7% 17.6% 27%
2014 50% 76.5% 18.4% 24.6%
2013 50.1% 77.2% 18.8% 24.9%
2012 49.2% 78.4% 18.8% 23%
2011 49.1% 80.5% 17.7% 23.1%
2010 48.9% 80.2% 16.9% 26.4%
2009 50.7% 78.2% 17% 26.5%
2008 48.8% 71.8% 19.4% 30.3%
2007 49.9% 65.6% 18.7% 38.1%
2006 51.4% 64.5% 18.4% 35.8%
2005 49.4% 60.6% 17.4% 42.6%
2004 48.8% 58.9% 17.8% 51.3%
2003 49.2% 58.2% 18.2% 55.6%
2002 51% 55.6% 16.9% 62.3%
2001 47.2% 52.2% 19.5% 73.7%
2000 47.3% 55.6% 15.3% 87.4%
1999 48.9% 60.3% 15.1% 95.9%
1998 50.7% 60.4% 15.1% 72.5%
1997 49.5% 62.2% 15.2% 26.4%
1996 50.9% 71.2% 11.5% 27.5%
1995 55% 83.9% 11.9% 32%
1994 - 86.2% 13.5% 37%
1993 - 87.2% 14.1% 40.4%
1992 - 76.5% 16.8% 42.6%
1991 - 74.2% 15% 39.2%
1990 - 63.7% 15.8% 40.8%
1989 - 70.7% 16.5% 42.5%
1988 - - 17.3% 45.6%
1987 - - 18% 49.7%
1986 - - 20.9% 38.3%
1985 - - 18.5% 28%
1984 - - 16.1% 23.5%
1983 - - 18.2% 23.1%
1982 - - 18.8% 18.6%
1981 - - 24.4% 16.4%
1980 - - 22.1% 17.3%
1979 - - 20.9% 22%
1978 - - 20.1% 30.3%
1977 - - 19.5% 27.7%
1976 - - 21.8% 38.1%
1975 - - 20.5% 36.7%
1974 - - 17.3% 34.4%
1973 - - 16.3% 43.1%
1972 - - 15.7% 51.2%
1971 - - 14.5% 50.5%
1970 - - 13.8% 46.7%
1969 - - 12.8% -
1968 - - 8.82% -
1967 - - 10.4% -
1966 - - 9.18% -
1965 - - 10.7% -
1964 - - 9.55% -
1963 - - 10.3% -
1962 - - 7.89% -
1961 - - 15.1% -
1960 - - 14.4% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1993–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1999, retrieved 2026-02-20).

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

In 2024, Hungary's government spending was $104B, accounting for 46.9% of its GDP, while Indonesia spent $235B, or 16.8% of GDP.

Debt-to-GDP ratio is 73.5% in Hungary and 40.2% in Indonesia, ranking 49/185 and 132/185, respectively.

Government deficit by year

Deficit/surplus
Hungary

Indonesia
1x
Year Deficit/surplus, % of GDP
Hungary Indonesia
2024 -4.92% -2.3%
2023 -6.75% -1.64%
2022 -6.17% -2.31%
2021 -7.11% -4.4%
2020 -7.49% -6.07%
2019 -2.02% -2.09%
2018 -2.05% -1.69%
2017 -2.45% -2.26%
2016 -1.79% -2.56%
2015 -2% -2.72%
2014 -2.77% -1.8%
2013 -2.6% -1.96%
2012 -2.33% -1.59%
2011 -5.22% -0.7%
2010 -4.44% -1.24%
2009 -4.76% -1.64%
2008 -3.78% 0.05%
2007 -5.09% -0.95%
2006 -9.27% 0.45%
2005 -7.79% 0.46%
2004 -6.6% -0.26%
2003 -7.19% -1.08%
2002 -8.79% -0.58%
2001 -4% -1.76%
2000 -3.04% -1.87%
1999 -5.27% -0.96%
1998 -7.41% -1.89%
1997 -5.54% -1.03%
1996 -4.36% 0.96%
1995 -8.57% 0.64%
1994 - 0.005%
1993 - -0.59%
1992 - -2.95%
1991 - -0.87%
1990 - -0.55%
1989 - -1.72%
1988 - -2.68%
1987 - -0.9%
1986 - -2.94%
1985 - -0.45%
1984 - 1.83%
1983 - -1%
1982 - -1.11%
1981 - -0.69%
1980 - -0.82%
1979 - -0.67%
1978 - -2.03%
1977 - -0.38%
1976 - -2.63%
1975 - -2.33%
1974 - -0.35%
1973 - -1.33%
1972 - -1.82%
1971 - -2.51%
1970 - -3.02%
1969 - -2.8%
1968 - 0%
1967 - -0.35%
1966 - -5.06%
1965 - -6.62%
1964 - -5.58%
1963 - -5.24%
1962 - -3.1%
1961 - -4.57%
1960 - -1.65%
1959 - -4.06%
1958 - -6.67%
1957 - -2.92%
1956 - -1.38%
1955 - -1.6%
1954 - -3.16%
1953 - -2.33%
1952 - -3.66%
1951 - 1.52%
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 (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1927–1992, retrieved 2026-02-20).

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

In 2024, Hungary's government deficit, the difference between spending and revenue, was $10.9B, equivalent to 4.92% of GDP. This compares to Indonesia's deficit of $32.1B, or 2.3% of GDP.

Over the past 30 years, Hungary recorded a fiscal deficit in 30 of those years, while Indonesia ran a deficit in 25 years. On average, Hungary posted an annual deficit equal to 5.05% of GDP, compared to deficit of 1.49% of GDP for Indonesia.

Inflation comparison by year

Inflation
Hungary

Indonesia
1x
Year Consumer prices inflation
Hungary Indonesia
2024 3.7% 2.18%
2023 17.1% 3.67%
2022 14.6% 4.21%
2021 5.11% 1.56%
2020 3.33% 1.92%
2019 3.34% 3.03%
2018 2.85% 3.2%
2017 2.35% 3.81%
2016 0.39% 3.53%
2015 -0.06% 6.36%
2014 -0.23% 6.39%
2013 1.73% 6.41%
2012 5.65% 4.28%
2011 3.93% 5.36%
2010 4.86% 5.13%
2009 4.21% 4.39%
2008 6.04% 10.2%
2007 7.96% 6.41%
2006 3.93% 13.1%
2005 3.56% 10.5%
2004 6.74% 6.06%
2003 4.66% 6.76%
2002 5.27% 11.9%
2001 9.12% 11.5%
2000 9.8% 3.69%
1999 10% 20.5%
1998 14.2% 58.5%
1997 18.3% 6.23%

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

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

Over the past 28 years, Hungary has recorded an average annual inflation rate of 6.16%, compared with 8.24% in Indonesia. In 2024, inflation was 3.7% in Hungary and 2.18% in Indonesia.

Top exports between countries

Hungary
Export category Export value
Machinery & equipment $46.6M
IT & IP services $33.9M
Processed food, beverages & tobacco $9.16M
Chemicals & pharma $8.03M
Wood & paper products $7.43M
Business & finance services $5.3M
Transport & tourism services $4.11M
Raw agricultural goods $3.82M
Metals $2.17M
Raw materials & minerals $1.68M
Indonesia
Export category Export value
Machinery & equipment $86.2M
Processed food, beverages & tobacco $4.53M
Textiles & consumer goods $4.14M
Chemicals & pharma $3.11M
Wood & paper products $1.69M
Raw agricultural goods $985K
Raw materials & minerals $821K
Miscellaneous $589K
Precious metals & jewellery $255K
Animal & marine products $71K

Balance of trade

Hungary Indonesia
Current account balance
$3.52B
2024
-$8.72B
2024
Current account balance ranking
36/190
2024
174/190
2024
Current account balance, % of GDP
+1.58%
2024
-0.62%
2024
Goods imports
$130B
2024
$223B
2024
Goods exports
$129B
2024
$263B
2024
Service imports
$27.9B
2024
$57.6B
2024
Service exports
$38.9B
2024
$39B
2024
Imports of goods and services, % of GDP
71.1%
2024
20.4%
2024
Exports of goods and services, % of GDP
75.4%
2024
22.2%
2024

Economic freedom indices

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

Hungary Indonesia
Economic freedom 62.5 65.1
Economic freedom ranking 86/197 67/197
Property rights 67.3 39.7
Government integrity 44 42
Judicial effectiveness 61.9 43.1
Tax burden 85.1 81.5
Government spending 30.2 91.4
Fiscal health 32.7 89.8
Business freedom 70.8 69.2
Labor freedom 56.5 56.8
Monetary freedom 72.1 79.4
Trade freedom 79.4 78.6
Investment freedom 80 50
Financial freedom 70 60

Economic freedom comparison by year

Hungary
Indonesia
1x
Year Economic freedom index
Hungary Indonesia
2026 62.5 65.1
2025 61.4 65.2
2024 61.2 63.5
2023 64.1 63.5
2022 66.9 64.4
2021 67.2 66.9
2020 66.4 67.2
2019 65 65.8
2018 66.7 64.2
2017 65.8 61.9
2016 66 59.4
2015 66.8 58.1
2014 67 58.5
2013 67.3 56.9
2012 67.1 56.4
2011 66.6 56
2010 66.1 55.5
2009 66.8 53.4
2008 67.6 53.2
2007 64.8 53.2
2006 65 51.9
2005 63.5 52.9
2004 62.7 52.1
2003 63 55.8
2002 64.5 54.8
2001 65.6 52.5
2000 64.4 55.2
1999 59.6 61.5
1998 56.9 63.4
1997 55.3 62
1996 56.8 61
1995 55.2 54.9

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

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

The Economic Freedom Index for Hungary is 62.5, ranking 86/197, compared to 65.1 for Indonesia, ranking 67/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Hungary Indonesia
Services, % of GDP
59.5%
2024
43.8%
2024
Industry, % of GDP
23.7%
2024
39.3%
2024
Agriculture, forestry, and fishing, % of GDP
2.71%
2024
12.6%
2024
GNI, Atlas method
$199B
2024
$1.39T
2024
GNI per capita, PPP
$47,290
2024
$16,010
2024
Total reserves including gold
$46.4B
2024
$156B
2024
Total reserves ranking
42/177
2024
20/177
2024
Net foreign direct investment
-$15.8B
2024
-$15.9B
2024
Net inflows of foreign direct investment
-$62.2B
2024
$24.2B
2024
Net outflows of foreign direct investment
-$78B
2024
$8.39B
2024
Servicing debt to the IMF, % of GNI n/a
5.65%
2024
Poverty at national poverty lines
12.1%
2021
9%
2024
Gross capital formation, % of GDP
23.5%
2024
31.4%
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/hungary/indonesia | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1967–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. International Monetary Fund (IMF) | Public Finances in Modern History (1927–1999, retrieved 2026-02-20)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. TradeMap (2023–2024, 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.