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Economy of Hungary vs Kazakhstan compared: GDP & Debt

Updated on by Georank team

Hungary has a GDP of $223B compared to $291B for Kazakhstan, ranking 55/197 and 48/197 by economy size, respectively.

Hungary has $164B in government debt (73.5% of GDP), compared to $71.1B (24.4% of GDP) in Kazakhstan.

Hungary vs Kazakhstan GDP by year

Hungary
Kazakhstan
1x
Year GDP, current $
Hungary Kazakhstan
2024 $222,722,738,926 $291,480,274,649
2023 $213,240,316,635 $261,840,101,060
2022 $177,002,580,544 $225,496,328,925
2021 $183,282,685,440 $197,112,255,361
2020 $158,468,487,754 $171,082,365,861
2019 $164,936,682,034 $181,667,184,855
2018 $161,184,691,014 $179,339,977,690
2017 $143,335,098,992 $166,805,788,827
2016 $128,983,560,865 $137,278,320,084
2015 $125,244,126,623 $184,388,404,706
2014 $141,128,696,412 $221,415,613,595
2013 $135,646,053,779 $236,634,603,409
2012 $128,470,269,690 $207,998,568,866
2011 $141,712,804,954 $192,626,464,617
2010 $131,898,737,241 $148,047,348,241
2009 $130,807,441,076 $115,308,686,941
2008 $158,228,265,916 $133,441,648,852
2007 $140,123,326,896 $104,849,915,058
2006 $115,604,111,412 $81,003,864,630
2005 $113,098,237,571 $57,123,671,734
2004 $104,015,363,080 $43,151,647,003
2003 $85,190,469,121 $30,833,692,900
2002 $67,636,468,625 $24,636,598,527
2001 $53,800,068,066 $22,152,689,180
2000 $47,275,954,429 $18,291,990,662
1999 $49,160,204,397 $16,870,817,182
1998 $48,784,412,624 $22,135,245,507
1997 $47,398,564,799 $22,165,932,063
1996 $46,833,767,124 $21,035,357,937
1995 $46,577,614,589 $20,374,302,652
1994 $43,307,949,890 $21,250,792,886
1993 $40,256,233,360 $23,409,260,880
1992 $38,857,339,125 $24,917,355,372
1991 $34,867,307,353 $24,923,076,923
1990 $34,478,360,679 $26,932,016,270
1989 $30,422,508,938 -
1988 $29,799,838,597 -
1987 $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 (1968–2024, retrieved 2026-04-06).

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

GDP per capita in Hungary vs Kazakhstan by year

Hungary
GDP per capita

GDP per capita, PPP
Kazakhstan
GDP per capita

GDP per capita, PPP
1x
Year Current $
Hungary Kazakhstan
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $23,292 $48,552 $14,155 $40,891
2023 $22,231 $46,592 $12,879 $38,515
2022 $18,428 $44,366 $11,255 $35,895
2021 $19,031 $38,887 $9,984 $32,946
2020 $16,387 $35,584 $8,782 $29,040
2019 $17,013 $35,627 $9,457 $28,689
2018 $16,605 $32,258 $9,472 $25,096
2017 $14,736 $29,728 $8,943 $23,973
2016 $13,216 $28,179 $7,476 $23,023
2015 $12,783 $26,938 $10,196 $22,484
2014 $14,353 $25,796 $12,428 $23,958
2013 $13,739 $24,592 $13,478 $23,754
2012 $12,950 $23,205 $12,019 $21,367
2011 $14,211 $22,992 $11,287 $20,160
2010 $13,190 $21,691 $8,793 $18,642
2009 $13,051 $20,691 $6,938 $17,389
2008 $15,763 $20,709 $8,124 $17,278
2007 $13,935 $19,089 $6,449 $16,581
2006 $11,478 $18,362 $5,030 $14,966
2005 $11,212 $17,091 $3,577 $13,226
2004 $10,291 $16,251 $2,722 $11,777
2003 $8,410 $15,460 $1,958 $10,532
2002 $6,658 $14,532 $1,574 $9,504
2001 $5,281 $13,223 $1,422 $8,568
2000 $4,630 $11,872 $1,180 $7,418
1999 $4,802 $10,892 $1,092 $6,626
1998 $4,752 $10,415 $1,415 $6,284
1997 $4,606 $9,846 $1,382 $6,178
1996 $4,542 $9,388 $1,281 $5,836
1995 $4,509 $9,222 $1,218 $5,595
1994 $4,187 $8,888 $1,247 $5,860
1993 $3,887 $8,441 $1,355 $6,477
1992 $3,747 $8,284 $1,438 $6,945
1991 $3,361 $8,352 $1,442 $7,193
1990 $3,324 $9,169 $1,570 $7,874
1989 $2,902 - - -
1988 $2,812 - - -
1987 $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 (1968–2024, retrieved 2026-04-06).

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

Hungary's GDP per capita is $23,292, ranking 55/197, compared to $14,155 in Kazakhstan, ranking 71/197. Adjusted for purchasing power (GDP per capita PPP), Hungary ranks 48th at $48,552, while Kazakhstan ranks 58th at $40,891.

Economic indicators

Hungary Kazakhstan
Gross domestic product
$223B
2024
$291B
2024
GDP rank
55/197
2024
48/197
2024
GDP growth
0.56%
2023-2024
5%
2023-2024
GDP per capita
$23,292
2024
$14,155
2024
GDP per capita rank
55/197
2024
71/197
2024
GDP per capita, PPP
$48,552
2024
$40,891
2024
GDP per capita PPP rank
48/197
2024
58/197
2024
Government debt
$164B
2024
$71.1B
2024
Debt-to-GDP ratio
73.5%
2024
24.4%
2024
Government debt per person
$17,109
2024
$3,450
2024
Government debt per person rank
37/185
2024
95/185
2024
Average annual personal income after taxes
$16,996
2026
$7,486
2026
Market capitalization of domestic companies
$41.5B
2024
$62.8B
2024
Number of millionaires
24,692
2025
44,307
2025
Number of billionaires
4
2025
6
2025
Income share by richest 10%
24.4%
2022
24.8%
2021
Income share by poorest 10%
2.8%
2022
4.3%
2021
Government expenditure, % of GDP
46.9%
2024
20.7%
2024
Consumer prices inflation
3.7%
2023-2024
8.7%
2023-2024
Central bank interest rate
6.5%
2024
18%
2025
Unemployment rate
4.47%
2024
4.86%
2022
Population
9475525
21161809

Spending and national debt comparison by year

Hungary
Spending

Debt
Kazakhstan
Spending

Debt
1x
Year % of GDP
Hungary Kazakhstan
Government spending Government debt Government spending Government debt
2024 46.9% 73.5% 20.7% 24.4%
2023 49.2% 73% 23.4% 23%
2022 48.7% 73.9% 21.7% 23.5%
2021 48.1% 76.2% 22.1% 25.1%
2020 51% 78.7% 24.5% 26.4%
2019 45.8% 65% 20.2% 19.9%
2018 45.9% 68.8% 18.8% 20.3%
2017 46.6% 72% 24.1% 19.9%
2016 46.7% 74.6% 21.5% 19.7%
2015 50.4% 75.7% 22.9% 21.9%
2014 50% 76.5% 21.3% 14.5%
2013 50.1% 77.2% 19.8% 12.6%
2012 49.2% 78.4% 21.9% 12.1%
2011 49.1% 80.5% 21.2% 10.2%
2010 48.9% 80.2% 22.5% 10.7%
2009 50.7% 78.2% 23.5% 10.2%
2008 48.8% 71.8% 27.1% 6.77%
2007 49.9% 65.6% 23.7% 4.09%
2006 51.4% 64.5% 19.8% 6.68%
2005 49.4% 60.6% 22% 8.1%
2004 48.8% 58.9% 21.3% 11.4%
2003 49.2% 58.2% 21.4% 15%
2002 51% 55.6% 20.5% 17.6%
2001 47.2% 52.2% - -
2000 47.3% 55.6% - -
1999 48.9% 60.3% - -
1998 50.7% 60.4% - -
1997 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/hungary/kazakhstan | CC BY

In 2024, Hungary's government spending was $104B, accounting for 46.9% of its GDP, while Kazakhstan spent $60.3B, or 20.7% of GDP.

Debt-to-GDP ratio is 73.5% in Hungary and 24.4% in Kazakhstan, ranking 49/185 and 167/185, respectively.

Government deficit by year

Deficit/surplus
Hungary

Kazakhstan
1x
Year Deficit/surplus, % of GDP
Hungary Kazakhstan
2024 -4.92% -1.6%
2023 -6.75% -1.52%
2022 -6.17% 0.11%
2021 -7.11% -4.97%
2020 -7.49% -7.04%
2019 -2.02% -0.57%
2018 -2.05% 2.58%
2017 -2.45% -4.27%
2016 -1.79% -4.5%
2015 -2% -6.26%
2014 -2.77% 2.48%
2013 -2.6% 4.95%
2012 -2.33% 4.43%
2011 -5.22% 5.81%
2010 -4.44% 1.47%
2009 -4.76% -1.33%
2008 -3.78% 1.23%
2007 -5.09% 5.13%
2006 -9.27% 7.65%
2005 -7.79% 6.08%
2004 -6.6% 3.29%
2003 -7.19% 4%
2002 -8.79% 1.92%
2001 -4% -
2000 -3.04% -
1999 -5.27% -
1998 -7.41% -
1997 -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/hungary/kazakhstan | 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 Kazakhstan's deficit of $4.66B, or 1.6% of GDP.

Over the past 23 years, Hungary recorded a fiscal deficit in 23 of those years, while Kazakhstan ran a deficit in 9 years. On average, Hungary posted an annual deficit equal to 4.93% of GDP, compared to surplus of 0.83% of GDP for Kazakhstan.

Inflation comparison by year

Inflation
Hungary

Kazakhstan
1x
Year Consumer prices inflation
Hungary Kazakhstan
2024 3.7% 8.7%
2023 17.1% 14.5%
2022 14.6% 15%
2021 5.11% 8%
2020 3.33% 6.8%
2019 3.34% 5.3%
2018 2.85% 6%
2017 2.35% 7.5%
2016 0.39% 14.6%
2015 -0.06% 6.8%
2014 -0.23% 6.6%
2013 1.73% 5.8%
2012 5.65% 5.1%
2011 3.93% 8.4%
2010 4.86% 7.1%
2009 4.21% 7.3%
2008 6.04% 17.2%
2007 7.96% 10.8%
2006 3.93% 8.6%
2005 3.56% 7.4%
2004 6.74% 7%
2003 4.66% 6.4%
2002 5.27% 6%
2001 9.12% 8.4%
2000 9.8% 13.2%
1999 10% 8.3%
1998 14.2% 7.1%
1997 18.3% 17.4%

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/hungary/kazakhstan | CC BY

Over the past 28 years, Hungary has recorded an average annual inflation rate of 6.16%, compared with 8.98% in Kazakhstan. In 2024, inflation was 3.7% in Hungary and 8.7% in Kazakhstan.

Top exports between countries

Hungary
Export category Export value
Chemicals & pharma $124M
Machinery & equipment $89M
Raw materials & minerals $19.8M
Processed food, beverages & tobacco $7.2M
Metals $7.14M
Raw agricultural goods $7.06M
Textiles & consumer goods $5.73M
Animal & marine products $3.89M
Wood & paper products $936K
Precious metals & jewellery $512K
Kazakhstan
Export category Export value
Raw materials & minerals $5.98M
Animal & marine products $2.69M
Chemicals & pharma $1.45M
Machinery & equipment $908K
Metals $823K
Textiles & consumer goods $163K
Processed food, beverages & tobacco $137K
Wood & paper products $111K
Raw agricultural goods $20K
Precious metals & jewellery $8K

Balance of trade

Hungary Kazakhstan
Current account balance
$3.52B
2024
-$7.94B
2024
Current account balance ranking
36/190
2024
173/190
2024
Current account balance, % of GDP
+1.58%
2024
-2.72%
2024
Goods imports
$130B
2024
$61.8B
2024
Goods exports
$129B
2024
$79B
2024
Service imports
$27.9B
2024
$13B
2024
Service exports
$38.9B
2024
$11.8B
2024
Imports of goods and services, % of GDP
71.1%
2024
25.6%
2024
Exports of goods and services, % of GDP
75.4%
2024
31.6%
2024

Economic freedom indices

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

Hungary Kazakhstan
Economic freedom 62.5 64.2
Economic freedom ranking 86/197 75/197
Property rights 67.3 54.9
Government integrity 44 40.7
Judicial effectiveness 61.9 33.8
Tax burden 85.1 91.2
Government spending 30.2 85.6
Fiscal health 32.7 97.2
Business freedom 70.8 64.9
Labor freedom 56.5 63.5
Monetary freedom 72.1 64.3
Trade freedom 79.4 74.4
Investment freedom 80 50
Financial freedom 70 50

Economic freedom comparison by year

Hungary
Kazakhstan
1x
Year Economic freedom index
Hungary Kazakhstan
2026 62.5 64.2
2025 61.4 63.8
2024 61.2 62
2023 64.1 62.1
2022 66.9 64.4
2021 67.2 71.1
2020 66.4 69.6
2019 65 65.4
2018 66.7 69.1
2017 65.8 69
2016 66 63.6
2015 66.8 63.3
2014 67 63.7
2013 67.3 63
2012 67.1 63.6
2011 66.6 62.1
2010 66.1 61
2009 66.8 60.1
2008 67.6 61.1
2007 64.8 59.6
2006 65 60.2
2005 63.5 53.9
2004 62.7 49.7
2003 63 52.3
2002 64.5 52.4
2001 65.6 51.8
2000 64.4 50.4
1999 59.6 47.3
1998 56.9 41.7
1997 55.3 -
1996 56.8 -
1995 55.2 -

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

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

The Economic Freedom Index for Hungary is 62.5, ranking 86/197, compared to 64.2 for Kazakhstan, ranking 75/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Hungary Kazakhstan
Services, % of GDP
59.5%
2024
57.9%
2024
Industry, % of GDP
23.7%
2024
32.1%
2024
Agriculture, forestry, and fishing, % of GDP
2.71%
2024
3.88%
2024
GNI, Atlas method
$199B
2024
$249B
2024
GNI per capita, PPP
$47,290
2024
$37,590
2024
Total reserves including gold
$46.4B
2024
$45.8B
2024
Total reserves ranking
42/177
2024
43/177
2024
Net foreign direct investment
-$15.8B
2024
-$3.9B
2024
Net inflows of foreign direct investment
-$62.2B
2024
$1.98B
2024
Net outflows of foreign direct investment
-$78B
2024
-$1.92B
2024
Servicing debt to the IMF, % of GNI n/a
17.3%
2024
Poverty at national poverty lines
12.1%
2021
5%
2024
Gross capital formation, % of GDP
23.5%
2024
27.2%
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/kazakhstan | 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 (2022–2024, 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.