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Economy of Hungary vs Kenya compared: GDP & Debt

Updated on by Georank team

Hungary has a GDP of $223B compared to $120B for Kenya, ranking 55/197 and 64/197 by economy size, respectively.

Hungary has $164B in government debt (73.5% of GDP), compared to $81B (67.3% of GDP) in Kenya.

Hungary vs Kenya GDP by year

Hungary
Kenya
1x
Year GDP, current $
Hungary Kenya
2024 $222,722,738,926 $120,339,557,906
2023 $213,240,316,635 $107,500,884,685
2022 $177,002,580,544 $114,448,978,153
2021 $183,282,685,440 $109,703,658,905
2020 $158,468,487,754 $100,657,505,751
2019 $164,936,682,034 $100,378,436,207
2018 $161,184,691,014 $92,202,979,985
2017 $143,335,098,992 $82,036,510,877
2016 $128,983,560,865 $74,815,144,164
2015 $125,244,126,623 $70,120,446,897
2014 $141,128,696,412 $68,285,796,514
2013 $135,646,053,779 $61,671,440,408
2012 $128,470,269,690 $56,396,704,672
2011 $141,712,804,954 $46,869,473,151
2010 $131,898,737,241 $45,405,615,064
2009 $130,807,441,076 $42,347,217,913
2008 $158,228,265,916 $35,895,153,328
2007 $140,123,326,896 $31,958,195,182
2006 $115,604,111,412 $25,825,512,284
2005 $113,098,237,571 $18,737,895,513
2004 $104,015,363,080 $16,095,337,094
2003 $85,190,469,121 $14,904,517,650
2002 $67,636,468,625 $13,147,736,899
2001 $53,800,068,066 $12,986,007,426
2000 $47,275,954,429 $12,705,350,098
1999 $49,160,204,397 $12,896,010,459
1998 $48,784,412,624 $14,093,998,844
1997 $47,398,564,799 $13,115,764,358
1996 $46,833,767,124 $12,045,865,396
1995 $46,577,614,589 $9,046,320,255
1994 $43,307,949,890 $7,148,148,564
1993 $40,256,233,360 $5,751,786,643
1992 $38,857,339,125 $8,209,120,763
1991 $34,867,307,353 $8,151,488,783
1990 $34,478,360,679 $8,572,359,038
1989 $30,422,508,938 $8,283,114,514
1988 $29,799,838,597 $8,355,380,879
1987 $27,232,016,527 $7,970,820,369
1986 $24,778,163,812 $7,239,126,568
1985 $21,510,643,750 $6,135,034,214
1984 $21,242,726,264 $6,191,437,070
1983 $21,910,365,258 $5,979,198,314
1982 $24,141,667,188 $6,431,579,357
1981 $23,705,883,892 $6,854,491,706
1980 $23,116,977,148 $7,265,315,820
1979 $19,959,731,325 $6,234,391,113
1978 $17,286,744,154 $5,303,735,111
1977 $14,783,674,055 $4,494,378,764
1976 $13,235,612,079 $3,474,542,392
1975 $11,420,392,515 $3,259,345,083
1974 $10,016,338,179 $2,969,958,812
1973 $9,138,292,402 $2,509,001,324
1972 $7,379,313,742 $2,107,279,157
1971 $6,291,568,221 $1,778,391,289
1970 $5,780,929,203 $1,603,447,359
1969 $5,429,812,387 $1,458,379,417
1968 $4,886,222,555 $1,353,295,459
1967 - $1,232,559,507
1966 - $1,164,519,674
1965 - $997,919,321
1964 - $998,759,334
1963 - $926,589,349
1962 - $868,111,401
1961 - $792,959,473
1960 - $791,265,459

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

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

GDP per capita in Hungary vs Kenya by year

Hungary
GDP per capita

GDP per capita, PPP
Kenya
GDP per capita

GDP per capita, PPP
1x
Year Current $
Hungary Kenya
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $23,292 $48,552 $2,132 $6,644
2023 $22,231 $46,592 $1,943 $6,317
2022 $18,428 $44,366 $2,110 $5,883
2021 $19,031 $38,887 $2,061 $5,339
2020 $16,387 $35,584 $1,928 $4,793
2019 $17,013 $35,627 $1,960 $4,687
2018 $16,605 $32,258 $1,836 $4,412
2017 $14,736 $29,728 $1,667 $4,177
2016 $13,216 $28,179 $1,554 $3,917
2015 $12,783 $26,938 $1,489 $3,678
2014 $14,353 $25,796 $1,483 $3,359
2013 $13,739 $24,592 $1,371 $3,106
2012 $12,950 $23,205 $1,285 $2,847
2011 $14,211 $22,992 $1,096 $2,750
2010 $13,190 $21,691 $1,092 $2,635
2009 $13,051 $20,691 $1,048 $2,480
2008 $15,763 $20,709 $916 $2,459
2007 $13,935 $19,089 $840 $2,481
2006 $11,478 $18,362 $700 $2,330
2005 $11,212 $17,091 $523 $2,189
2004 $10,291 $16,251 $464 $2,066
2003 $8,410 $15,460 $443 $1,975
2002 $6,658 $14,532 $403 $1,940
2001 $5,281 $13,223 $411 $1,961
2000 $4,630 $11,872 $415 $1,907
1999 $4,802 $10,892 $434 $1,910
1998 $4,752 $10,415 $488 $1,895
1997 $4,606 $9,846 $467 $1,865
1996 $4,542 $9,388 $441 $1,875
1995 $4,509 $9,222 $340 $1,818
1994 $4,187 $8,888 $276.4 $1,754
1993 $3,887 $8,441 $229 $1,723
1992 $3,747 $8,284 $337 $1,728
1991 $3,361 $8,352 $345 $1,756
1990 $3,324 $9,169 $374 $1,729
1989 $2,902 - $374 -
1988 $2,812 - $391 -
1987 $2,566 - $387 -
1986 $2,331 - $364 -
1985 $2,020 - $320 -
1984 $1,991 - $334 -
1983 $2,050 - $335 -
1982 $2,255 - $374 -
1981 $2,213 - $413 -
1980 $2,158 - $454 -
1979 $1,865 - $403 -
1978 $1,618 - $355 -
1977 $1,388 - $311 -
1976 $1,249 - $248.9 -
1975 $1,083 - $241.2 -
1974 $956 - $227.2 -
1973 $876 - $198.6 -
1972 $710 - $172.6 -
1971 $607 - $150.9 -
1970 $559 - $141 -
1969 $527 - $133.3 -
1968 $476 - $128.7 -
1967 - - $121.9 -
1966 - - $119.8 -
1965 - - $106.9 -
1964 - - $111.3 -
1963 - - $107.4 -
1962 - - $104.6 -
1961 - - $99.3 -
1960 - - $102.8 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

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

Hungary's GDP per capita is $23,292, ranking 55/197, compared to $2,132 in Kenya, ranking 154/197. Adjusted for purchasing power (GDP per capita PPP), Hungary ranks 48th at $48,552, while Kenya ranks 149th at $6,644.

Economic indicators

Hungary Kenya
Gross domestic product
$223B
2024
$120B
2024
GDP rank
55/197
2024
64/197
2024
GDP growth
0.56%
2023-2024
4.72%
2023-2024
GDP per capita
$23,292
2024
$2,132
2024
GDP per capita rank
55/197
2024
154/197
2024
GDP per capita, PPP
$48,552
2024
$6,644
2024
GDP per capita PPP rank
48/197
2024
149/197
2024
Government debt
$164B
2024
$81B
2024
Debt-to-GDP ratio
73.5%
2024
67.3%
2024
Government debt per person
$17,109
2024
$1,436
2024
Government debt per person rank
37/185
2024
133/185
2024
Average annual personal income after taxes
$16,996
2026
$3,229
2026
Market capitalization of domestic companies
$41.5B
2024
$15B
2024
Number of millionaires
24,692
2025
n/a
Number of billionaires
4
2025
n/a
Income share by richest 10%
24.4%
2022
30.1%
2022
Income share by poorest 10%
2.8%
2022
2.9%
2022
Government expenditure, % of GDP
46.9%
2024
23.3%
2024
Consumer prices inflation
3.7%
2023-2024
4.49%
2023-2024
Central bank interest rate
6.5%
2024
9.25%
2025
Unemployment rate
4.47%
2024
5.44%
2022
Population
9475525
58955623

Spending and national debt comparison by year

Hungary
Spending

Debt
Kenya
Spending

Debt
1x
Year % of GDP
Hungary Kenya
Government spending Government debt Government spending Government debt
2024 46.9% 73.5% 23.3% 67.3%
2023 49.2% 73% 22.7% 73.4%
2022 48.7% 73.9% 23.2% 67.8%
2021 48.1% 76.2% 24% 68.2%
2020 51% 78.7% 24.8% 68%
2019 45.8% 65% 24.4% 59.1%
2018 45.9% 68.8% 24.5% 56.4%
2017 46.6% 72% 25.2% 53.9%
2016 46.7% 74.6% 25.4% 50.4%
2015 50.4% 75.7% 23.8% 45.8%
2014 50% 76.5% 23.4% 41.3%
2013 50.1% 77.2% 23.2% 39.8%
2012 49.2% 78.4% 22.1% 37.6%
2011 49.1% 80.5% 20.1% 35.7%
2010 48.9% 80.2% 21.5% 36.7%
2009 50.7% 78.2% 20.3% 36%
2008 48.8% 71.8% 18.9% 34.3%
2007 49.9% 65.6% 18.1% 34.2%
2006 51.4% 64.5% 17.3% 37.1%
2005 49.4% 60.6% 16.2% 37.4%
2004 48.8% 58.9% 15.4% 40.8%
2003 49.2% 58.2% 16% 43.8%
2002 51% 55.6% 15.7% 42%
2001 47.2% 52.2% 14.9% 41.3%
2000 47.3% 55.6% 14.1% 43.1%
1999 48.9% 60.3% 13.7% 38.4%
1998 50.7% 60.4% 15.3% 38.5%
1997 49.5% 62.2% 15.6% 36%
1996 50.9% 71.2% 15.2% 40.5%
1995 55% 83.9% 17.3% 52.1%
1994 - 86.2% 18.8% 57%
1993 - 87.2% 18.9% 61.6%
1992 - 76.5% 17.6% 41.2%
1991 - 74.2% 16.4% 43%
1990 - 63.7% 17.2% 37.6%
1989 - 70.7% 16.3% 33.4%
1988 - - 15.9% 33.9%
1987 - - 15.5% 36.3%
1986 - - 15.3% 31.3%
1985 - - 15.6% 28.8%
1984 - - 14.9% 25.6%
1983 - - 14.6% 26.1%
1982 - - 16.2% 26.9%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1982–1997, retrieved 2026-02-20).

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

In 2024, Hungary's government spending was $104B, accounting for 46.9% of its GDP, while Kenya spent $28B, or 23.3% of GDP.

Debt-to-GDP ratio is 73.5% in Hungary and 67.3% in Kenya, ranking 49/185 and 64/185, respectively.

Government deficit by year

Deficit/surplus
Hungary

Kenya
1x
Year Deficit/surplus, % of GDP
Hungary Kenya
2024 -4.92% -5.77%
2023 -6.75% -5.71%
2022 -6.17% -6.06%
2021 -7.11% -7.2%
2020 -7.49% -8.13%
2019 -2.02% -7.42%
2018 -2.05% -6.94%
2017 -2.45% -7.4%
2016 -1.79% -7.47%
2015 -2% -6.68%
2014 -2.77% -5.75%
2013 -2.6% -5.25%
2012 -2.33% -5.29%
2011 -5.22% -3.64%
2010 -4.44% -3.67%
2009 -4.76% -3.12%
2008 -3.78% -1.95%
2007 -5.09% -0.95%
2006 -9.27% -0.43%
2005 -7.79% -0.19%
2004 -6.6% 0.5%
2003 -7.19% -0.73%
2002 -8.79% -1.29%
2001 -4% -0.53%
2000 -3.04% 0.38%
1999 -5.27% 0.84%
1998 -7.41% -0.03%
1997 -5.54% -0.91%
1996 -4.36% -0.49%
1995 -8.57% -0.23%
1994 - -4.14%
1993 - -8.57%
1992 - -8.28%
1991 - -6.56%
1990 - -3.28%
1989 - -2.39%
1988 - -1.97%
1987 - -2.27%
1986 - -2.98%
1985 - -3.05%
1984 - -2.55%
1983 - -2.17%
1982 - -3.07%
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 (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1927–1989, retrieved 2026-02-20).

GeoRank.org/economy/hungary/kenya | 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 Kenya's deficit of $6.94B, or 5.77% of GDP.

Over the past 30 years, Hungary recorded a fiscal deficit in 30 of those years, while Kenya ran a deficit in 27 years. On average, Hungary posted an annual deficit equal to 5.05% of GDP, compared to deficit of 3.38% of GDP for Kenya.

Inflation comparison by year

Inflation
Hungary

Kenya
1x
Year Consumer prices inflation
Hungary Kenya
2024 3.7% 4.49%
2023 17.1% 7.67%
2022 14.6% 7.66%
2021 5.11% 6.11%
2020 3.33% 5.41%
2019 3.34% 5.24%
2018 2.85% 4.69%
2017 2.35% 8.01%
2016 0.39% 6.3%
2015 -0.06% 6.58%
2014 -0.23% 6.88%
2013 1.73% 5.72%
2012 5.65% 9.38%
2011 3.93% 14%
2010 4.86% 3.96%
2009 4.21% 9.23%
2008 6.04% 26.2%
2007 7.96% 9.76%
2006 3.93% 14.5%
2005 3.56% 10.3%
2004 6.74% 11.6%
2003 4.66% 9.82%
2002 5.27% 1.96%
2001 9.12% 5.74%
2000 9.8% 9.98%
1999 10% 5.74%
1998 14.2% 6.72%
1997 18.3% 11.4%

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

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

Over the past 28 years, Hungary has recorded an average annual inflation rate of 6.16%, compared with 8.39% in Kenya. In 2024, inflation was 3.7% in Hungary and 4.49% in Kenya.

Top exports between countries

Hungary
Export category Export value
Chemicals & pharma $4.29M
Machinery & equipment $4.15M
Textiles & consumer goods $1.91M
Processed food, beverages & tobacco $1.42M
Raw materials & minerals $892K
Wood & paper products $658K
Raw agricultural goods $101K
Animal & marine products $98K
Miscellaneous $84K
Metals $20K
Kenya
Export category Export value
Machinery & equipment $3.04M
Raw agricultural goods $520K
Processed food, beverages & tobacco $409K
Textiles & consumer goods $213K
Chemicals & pharma $130K
Raw materials & minerals $4K
Animal & marine products $2K
Metals $1K
Wood & paper products $1K

Balance of trade

Hungary Kenya
Current account balance
$3.52B
2024
-$1.55B
2024
Current account balance ranking
36/190
2024
134/190
2024
Current account balance, % of GDP
+1.58%
2024
-1.29%
2024
Goods imports
$130B
2024
$22.2B
2024
Goods exports
$129B
2024
$12.5B
2024
Service imports
$27.9B
2024
$5.64B
2024
Service exports
$38.9B
2024
$8.04B
2024
Imports of goods and services, % of GDP
71.1%
2024
23.1%
2024
Exports of goods and services, % of GDP
75.4%
2024
17.1%
2024

Economic freedom indices

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

Hungary Kenya
Economic freedom 62.5 55.5
Economic freedom ranking 86/197 128/197
Property rights 67.3 40.2
Government integrity 44 32.7
Judicial effectiveness 61.9 47
Tax burden 85.1 76.3
Government spending 30.2 84.1
Fiscal health 32.7 36.2
Business freedom 70.8 61.5
Labor freedom 56.5 56.5
Monetary freedom 72.1 75.1
Trade freedom 79.4 52
Investment freedom 80 55
Financial freedom 70 50

Economic freedom comparison by year

Hungary
Kenya
1x
Year Economic freedom index
Hungary Kenya
2026 62.5 55.5
2025 61.4 54.8
2024 61.2 53.6
2023 64.1 52.5
2022 66.9 52.6
2021 67.2 54.9
2020 66.4 55.3
2019 65 55.1
2018 66.7 54.7
2017 65.8 53.5
2016 66 57.5
2015 66.8 55.6
2014 67 57.1
2013 67.3 55.9
2012 67.1 57.5
2011 66.6 57.4
2010 66.1 57.5
2009 66.8 58.7
2008 67.6 59.3
2007 64.8 59.6
2006 65 59.7
2005 63.5 57.9
2004 62.7 57.7
2003 63 58.6
2002 64.5 58.2
2001 65.6 57.6
2000 64.4 59.7
1999 59.6 58.2
1998 56.9 58.4
1997 55.3 60.1
1996 56.8 56.4
1995 55.2 54.5

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

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

The Economic Freedom Index for Hungary is 62.5, ranking 86/197, compared to 55.5 for Kenya, ranking 128/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Hungary Kenya
Services, % of GDP
59.5%
2024
55.3%
2024
Industry, % of GDP
23.7%
2024
16.5%
2024
Agriculture, forestry, and fishing, % of GDP
2.71%
2024
22.5%
2024
GNI, Atlas method
$199B
2024
$118B
2024
GNI per capita, PPP
$47,290
2024
$6,540
2024
Total reserves including gold
$46.4B
2024
$10.1B
2024
Total reserves ranking
42/177
2024
75/177
2024
Net foreign direct investment
-$15.8B
2024
-$45.8M
2024
Net inflows of foreign direct investment
-$62.2B
2024
$463M
2024
Net outflows of foreign direct investment
-$78B
2024
$418M
2024
Servicing debt to the IMF, % of GNI n/a
4.79%
2024
Poverty at national poverty lines
12.1%
2021
39.8%
2022
Gross capital formation, % of GDP
23.5%
2024
16.8%
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/kenya | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, 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 (1927–1997, retrieved 2026-02-20)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. TradeMap (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.