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Economy of Hungary vs Kuwait compared: GDP & Debt

Updated on by Georank

Hungary has a GDP of $246B compared to $157B for Kuwait, ranking 55/197 and 59/197 by economy size, respectively.

Hungary has $185B in government debt (75.2% of GDP), compared to $22.9B (14.6% of GDP) in Kuwait.

Hungary vs Kuwait GDP by year

Hungary
Kuwait
1x
Year GDP, current $
Hungary Kuwait
2025 $246,490,213,513 $157,209,026,926
2024 $222,848,211,034 $160,903,106,639
2023 $213,029,511,029 $165,462,656,227
2022 $177,002,580,544 $183,502,046,694
2021 $183,282,685,440 $148,350,671,489
2020 $158,468,487,754 $111,045,470,606
2019 $164,936,682,034 $140,856,394,861
2018 $161,184,691,014 $138,646,316,351
2017 $143,335,098,992 $120,687,539,806
2016 $128,983,560,865 $109,406,674,125
2015 $125,244,126,623 $114,585,555,689
2014 $141,128,696,412 $162,650,450,685
2013 $135,646,053,779 $174,168,116,535
2012 $128,470,269,690 $174,047,662,680
2011 $141,712,804,954 $154,039,231,246
2010 $131,898,737,241 $115,416,245,242
2009 $130,807,441,076 $105,968,691,905
2008 $158,228,265,916 $147,379,737,230
2007 $140,123,326,896 $114,634,043,362
2006 $115,604,111,412 $101,557,330,723
2005 $113,098,237,571 $80,798,630,137
2004 $104,015,363,080 $59,439,090,601
2003 $85,190,469,121 $47,874,582,232
2002 $67,636,468,625 $38,135,788,414
2001 $53,800,068,066 $34,889,559,870
2000 $47,275,954,429 $37,718,743,480
1999 $49,160,204,397 $30,122,365,849
1998 $48,784,412,624 $25,943,705,784
1997 $47,398,564,799 $30,350,190,704
1996 $46,833,767,124 $31,492,373,309
1995 $46,577,614,589 $27,186,980,647
1994 $43,307,949,890 $24,848,483,838
1993 $40,256,233,360 $23,941,391,391
1992 $38,857,339,125 $19,858,555,215
1991 $34,867,307,353 $11,009,993,703
1990 $34,478,360,679 $18,427,777,778
1989 $30,422,508,938 $24,313,855,653
1988 $29,799,838,597 $20,690,322,153
1987 $27,232,016,527 $22,368,704,134
1986 $24,778,163,812 $17,903,989,745
1985 $21,510,643,750 $21,445,970,614
1984 $21,242,726,264 $21,700,082,753
1983 $21,910,365,258 $20,871,081,080
1982 $24,141,667,188 $21,577,153,356
1981 $23,705,883,892 $25,058,020,338
1980 $23,116,977,148 $28,638,868,356
1979 $19,959,731,325 $24,749,063,922
1978 $17,286,744,154 $15,503,557,496
1977 $14,783,674,055 $14,137,406,741
1976 $13,235,612,079 $13,132,252,802
1975 $11,420,392,515 $12,022,811,621
1974 $10,016,338,179 $13,006,948,296
1973 $9,138,292,402 $5,408,804,607
1972 $7,379,313,742 $4,450,537,925
1971 $6,291,568,221 $3,880,392,195
1970 $5,780,929,203 $2,873,638,851
1969 $5,429,812,387 $2,769,198,892
1968 $4,886,222,555 $2,662,798,935
1967 - $2,441,599,023
1966 - $2,391,199,044
1965 - $2,097,199,161
1964 - $2,071,668,533
1963 - $1,900,895,857
1962 - $1,828,107,503

Data sources: World Bank | Economy & Growth (1962–2025, retrieved 2026-07-08).

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

GDP per capita in Hungary vs Kuwait by year

Hungary
GDP per capita

GDP per capita, PPP
Kuwait
GDP per capita

GDP per capita, PPP
1x
Year Current $
Hungary Kuwait
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $25,907 - $32,312 -
2024 $23,305 $48,552 $32,856 $52,444
2023 $22,209 $46,592 $34,092 $53,025
2022 $18,428 $44,366 $39,982 $55,043
2021 $19,031 $38,887 $34,019 $50,652
2020 $16,387 $35,584 $25,236 $41,462
2019 $17,013 $35,627 $31,708 $50,703
2018 $16,605 $32,258 $32,068 $51,371
2017 $14,736 $29,728 $29,048 $46,566
2016 $13,216 $28,179 $27,324 $41,862
2015 $12,783 $26,938 $29,882 $45,267
2014 $14,353 $25,796 $44,369 $68,337
2013 $13,739 $24,592 $49,651 $76,813
2012 $12,950 $23,205 $52,155 $82,090
2011 $14,211 $22,992 $49,170 $79,037
2010 $13,190 $21,691 $39,212 $75,184
2009 $13,051 $20,691 $37,907 $80,110
2008 $15,763 $20,709 $55,585 $90,337
2007 $13,935 $19,089 $45,709 $91,435
2006 $11,478 $18,362 $42,947 $89,075
2005 $11,212 $17,091 $36,123 $84,968
2004 $10,291 $16,251 $27,552 $77,227
2003 $8,410 $15,460 $22,691 $69,752
2002 $6,658 $14,532 $18,513 $59,713
2001 $5,281 $13,223 $17,374 $58,553
2000 $4,630 $11,872 $19,296 $58,703
1999 $4,802 $10,892 $15,854 $56,406
1998 $4,752 $10,415 $14,067 $58,344
1997 $4,606 $9,846 $16,977 $57,420
1996 $4,542 $9,388 $18,201 $56,913
1995 $4,509 $9,222 $16,168 $57,163
1994 $4,187 $8,888 $14,930 $53,946
1993 $3,887 $8,441 $14,318 $48,482
1992 $3,747 $8,284 $12,146 $36,149
1991 $3,361 $8,352 $8,147 $23,390
1990 $3,324 $9,169 $10,938 $30,763
1989 $2,902 - $10,965 -
1988 $2,812 - $9,692 -
1987 $2,566 - $10,896 -
1986 $2,331 - $9,077 -
1985 $2,020 - $11,322 -
1984 $1,991 - $11,919 -
1983 $2,050 - $11,965 -
1982 $2,255 - $12,979 -
1981 $2,213 - $15,825 -
1980 $2,158 - $19,032 -
1979 $1,865 - $17,386 -
1978 $1,618 - $11,567 -
1977 $1,388 - $11,238 -
1976 $1,249 - $11,141 -
1975 $1,083 - $10,882 -
1974 $956 - $12,527 -
1973 $876 - $5,532 -
1972 $710 - $4,836 -
1971 $607 - $4,486 -
1970 $559 - $3,552 -
1969 $527 - $3,695 -
1968 $476 - $3,872 -
1967 - - $3,887 -
1966 - - $4,176 -
1965 - - $4,024 -
1964 - - $4,379 -
1963 - - $4,445 -
1962 - - $4,748 -

Data sources: World Bank | Economy & Growth (1962–2025, retrieved 2026-07-08).

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

Hungary's GDP per capita is $25,907, ranking 52/197, compared to $32,312 in Kuwait, ranking 41/197. Adjusted for purchasing power (GDP per capita PPP), Hungary ranks 48th at $48,552, while Kuwait ranks 40th at $52,444.

Economic indicators

Hungary Kuwait
Gross domestic product
$246B
2025
$157B
2025
GDP rank
55/197
2025
59/197
2025
GDP growth
0.51%
2024-2025
2.73%
2024-2025
GDP per capita
$25,907
2025
$32,312
2025
GDP per capita rank
52/197
2025
41/197
2025
GDP per capita, PPP
$48,552
2024
$52,444
2024
GDP per capita PPP rank
48/197
2024
40/197
2024
Government debt
$185B
2025
$22.9B
2025
Debt-to-GDP ratio
75.2%
2025
14.6%
2025
Government debt per person
$19,473
2025
$4,714
2025
Government debt per person rank
33/185
2025
87/185
2025
Average annual personal income after taxes
$18,331
2026
$24,940
2026
Market capitalization of domestic companies
$62.6B
2025
$172B
2025
Number of millionaires
27,000
2026
n/a
Number of billionaires
4
2026
n/a
Income share by richest 10%
24.4%
2022
n/a
Income share by poorest 10%
2.8%
2022
n/a
Government expenditure, % of GDP
47.5%
2025
50.1%
2025
Consumer prices inflation
4.41%
2024-2025
2.36%
2024-2025
Central bank interest rate
6.25%
2026
3.5%
2025
Unemployment rate
4.4%
2025
2.16%
2016
Population
9454659
4981316

Spending and national debt comparison by year

Hungary
Spending

Debt
Kuwait
Spending

Debt
1x
Year % of GDP
Hungary Kuwait
Government spending Government debt Government spending Government debt
2025 47.5% 75.2% 50.1% 14.6%
2024 46.9% 73.5% 48% 2.91%
2023 49.3% 73.2% 48.3% 3.13%
2022 48.9% 74.1% 39.6% 2.95%
2021 48.1% 76.2% 48.3% 7.2%
2020 51% 78.7% 62.9% 10.2%
2019 45.8% 65% 50.2% 10.5%
2018 45.9% 68.8% 51% 14.3%
2017 46.6% 72% 51.9% 19.6%
2016 46.7% 74.6% 54% 9.88%
2015 50.4% 75.7% 55.3% 4.6%
2014 50% 76.5% 45% 3.43%
2013 50.1% 77.2% 38.4% 3.09%
2012 49.2% 78.4% 38.1% 3.6%
2011 49.1% 80.5% 39.6% 4.64%
2010 48.9% 80.2% 45.4% 6.16%
2009 50.7% 78.2% 42.8% 6.65%
2008 48.8% 71.8% 40.8% 5.38%
2007 49.9% 65.6% 30.4% 7.05%
2006 51.4% 64.5% 32.2% 7.79%
2005 49.4% 60.6% 28.7% 10.2%
2004 48.8% 58.9% 35.2% 13.9%
2003 49.2% 58.2% 38% 17.2%
2002 51% 55.6% 42.5% 21.3%
2001 47.2% 52.2% 41.2% 23%
2000 47.3% 55.6% 29.7% 21.4%
1999 48.9% 60.3% 44.3% 25.5%
1998 50.7% 60.4% 51.4% 25.6%
1997 49.5% 62.2% 43.5% 24.3%
1996 50.9% 71.2% 42.5% 26.5%
1995 55% 83.9% 51.7% 34.9%
1994 - 86.2% 57.5% 37.7%
1993 - 87.2% 58% 28.8%
1992 - 76.5% 77.4% 27.9%
1991 - 74.2% 208.1% 45.3%
1990 - 63.7% 122.4% -
1989 - 70.7% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1989–1994, retrieved 2026-07-08).

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

In 2025, Hungary's government spending was $117B, accounting for 47.5% of its GDP, while Kuwait spent $78.8B, or 50.1% of GDP.

Debt-to-GDP ratio is 75.2% in Hungary and 14.6% in Kuwait, ranking 50/185 and 177/185, respectively.

Government deficit by year

Deficit/surplus
Hungary

Kuwait
1x
Year Deficit/surplus, % of GDP
Hungary Kuwait
2025 -4.68% 28.4%
2024 -4.9% 26%
2023 -6.77% 28.2%
2022 -6.19% 30%
2021 -7.11% 9.99%
2020 -7.49% 0.16%
2019 -2.02% 13%
2018 -2.05% 17.6%
2017 -2.45% 15.3%
2016 -1.79% 12.8%
2015 -2% 16.3%
2014 -2.77% 29.8%
2013 -2.6% 40.4%
2012 -2.33% 40.5%
2011 -5.22% 38.6%
2010 -4.44% 31.7%
2009 -4.76% 31.1%
2008 -3.78% 21.2%
2007 -5.09% 36.9%
2006 -9.27% 27.8%
2005 -7.79% 38.8%
2004 -6.6% 32.3%
2003 -7.19% 27%
2002 -8.79% 30.9%
2001 -4% 44.9%
2000 -3.04% 52.3%
1999 -5.27% 28%
1998 -7.41% 19.4%
1997 -5.54% 29.4%
1996 -4.36% 24.2%
1995 -8.57% 11.7%
1994 - 1.71%
1993 - -3.2%
1992 - -28%
1991 - -144.5%
1990 - -49.9%
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 (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1927–1943, retrieved 2026-07-08).

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

In 2025, Hungary's government deficit, the difference between spending and revenue, was $11.5B, equivalent to 4.68% of GDP. This compares to Kuwait's surplus of $44.6B, or 28.4% of GDP.

Over the past 31 years, Hungary recorded a fiscal deficit in 31 of those years, while Kuwait ran a deficit in 0 years. On average, Hungary posted an annual deficit equal to 5.04% of GDP, compared to surplus of 26.9% of GDP for Kuwait.

Inflation comparison by year

Inflation
Hungary

Kuwait
1x
Year Consumer prices inflation
Hungary Kuwait
2025 4.41% 2.36%
2024 3.7% 2.9%
2023 17.1% 3.64%
2022 14.6% 3.98%
2021 5.11% 3.42%
2020 3.33% 2.1%
2019 3.34% 1.09%
2018 2.85% 0.54%
2017 2.35% 2.17%
2016 0.39% 3.2%
2015 -0.06% 3.27%
2014 -0.23% 2.91%
2013 1.73% 2.68%
2012 5.65% 3.26%
2011 3.93% 4.84%
2010 4.86% 4.5%
2009 4.21% 4.61%
2008 6.04% 10.6%
2007 7.96% 5.48%
2006 3.93% 3.06%
2005 3.56% 4.14%
2004 6.74% 1.25%
2003 4.66% 0.96%
2002 5.27% 0.89%
2001 9.12% 1.3%
2000 9.8% 1.81%
1999 10% 2.99%
1998 14.2% 0.13%
1997 18.3% 0.68%

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

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

Over the past 29 years, Hungary has recorded an average annual inflation rate of 6.1%, compared with 2.92% in Kuwait. In 2025, inflation was 4.41% in Hungary and 2.36% in Kuwait.

Top exports between countries

Hungary
Export category Export value
Machinery & equipment $21.8M
Textiles & consumer goods $4.66M
Chemicals & pharma $3.69M
Processed food, beverages & tobacco $2.69M
Raw materials & minerals $2.43M
Animal & marine products $2.43M
Weapons & explosives $2.14M
Raw agricultural goods $1.9M
Wood & paper products $456K
Metals $29K
Kuwait
Export category Export value
Machinery & equipment $636K
Miscellaneous $130K
Precious metals & jewellery $37K
Metals $36K
Textiles & consumer goods $1K

Balance of trade

Hungary Kuwait
Current account balance
$4.08B
2025
$35.7B
2025
Current account balance ranking
34/190
2025
16/190
2025
Current account balance, % of GDP
+1.65%
2025
+22.7%
2025
Goods imports
$139B
2025
$37.5B
2025
Goods exports
$136B
2025
$70.7B
2025
Service imports
$29.8B
2025
$29.6B
2025
Service exports
$43.1B
2025
$12.7B
2025
Imports of goods and services, % of GDP
68.1%
2025
38.2%
2024
Exports of goods and services, % of GDP
72.6%
2025
55.8%
2024

Economic freedom indices

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

Hungary Kuwait
Economic freedom 62.5 59.9
Economic freedom ranking 86/197 100/197
Property rights 67.3 42
Government integrity 44 47.9
Judicial effectiveness 61.9 43.4
Tax burden 85.1 97.7
Government spending 30.2 36.2
Fiscal health 32.7 99.9
Business freedom 70.8 57.4
Labor freedom 56.5 49.2
Monetary freedom 72.1 68.7
Trade freedom 79.4 75.8
Investment freedom 80 50
Financial freedom 70 50

Economic freedom comparison by year

Hungary
Kuwait
1x
Year Economic freedom index
Hungary Kuwait
2026 62.5 59.9
2025 61.4 59.9
2024 61.2 58.5
2023 64.1 56.7
2022 66.9 58.3
2021 67.2 64.1
2020 66.4 63.2
2019 65 60.8
2018 66.7 62.2
2017 65.8 65.1
2016 66 62.7
2015 66.8 62.5
2014 67 62.3
2013 67.3 63.1
2012 67.1 62.5
2011 66.6 64.9
2010 66.1 67.7
2009 66.8 65.6
2008 67.6 68.1
2007 64.8 66.4
2006 65 66.5
2005 63.5 64.6
2004 62.7 63.6
2003 63 66.7
2002 64.5 65.4
2001 65.6 68.2
2000 64.4 69.7
1999 59.6 69.5
1998 56.9 66.3
1997 55.3 64.8
1996 56.8 66.1
1995 55.2 -

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

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

The Economic Freedom Index for Hungary is 62.5, ranking 86/197, compared to 59.9 for Kuwait, ranking 100/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Hungary Kuwait
Services, % of GDP
60.1%
2025
59.6%
2025
Industry, % of GDP
23%
2025
54.1%
2025
Agriculture, forestry, and fishing, % of GDP
2.65%
2025
0.53%
2025
GNI, Atlas method
$227B
2025
$201B
2024
GNI per capita, PPP
$48,630
2025
$64,040
2024
Total reserves including gold
$59.1B
2025
$51.7B
2025
Total reserves ranking
42/177
2025
47/177
2025
Net foreign direct investment
$9.1B
2025
$2.58B
2025
Net inflows of foreign direct investment
-$61.3B
2024
$615M
2024
Net outflows of foreign direct investment
-$76.3B
2024
$10.3B
2024
Poverty at national poverty lines
12.1%
2021
n/a
Gross capital formation, % of GDP
22.2%
2025
15.1%
2024

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/hungary/kuwait | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1962–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  4. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  5. International Monetary Fund (IMF) | Public Finances in Modern History (1927–1994, retrieved 2026-07-08)
  6. TradeMap (2020–2025, 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.

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.