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Economy of Hungary vs Liberia compared: GDP & Debt

Updated on by Georank team

Hungary has a GDP of $223B compared to $4.78B for Liberia, ranking 55/197 and 163/197 by economy size, respectively.

Hungary has $164B in government debt (73.5% of GDP), compared to $2.73B (57.2% of GDP) in Liberia.

Hungary vs Liberia GDP by year

Hungary
Liberia
1x
Year GDP, current $
Hungary Liberia
2024 $222,722,738,926 $4,779,300,900
2023 $213,240,316,635 $4,390,000,000
2022 $177,002,580,544 $4,001,047,000
2021 $183,282,685,440 $3,513,049,500
2020 $158,468,487,754 $3,176,126,300
2019 $164,936,682,034 $3,319,596,500
2018 $161,184,691,014 $3,422,754,800
2017 $143,335,098,992 $3,390,703,400
2016 $128,983,560,865 $3,398,419,600
2015 $125,244,126,623 $3,227,075,700
2014 $141,128,696,412 $3,225,652,000
2013 $135,646,053,779 $3,177,198,100
2012 $128,470,269,690 $2,791,614,000
2011 $141,712,804,954 $2,398,000,000
2010 $131,898,737,241 $1,998,000,000
2009 $130,807,441,076 $1,768,000,000
2008 $158,228,265,916 $1,726,000,000
2007 $140,123,326,896 $1,373,000,000
2006 $115,604,111,412 $1,119,000,000
2005 $113,098,237,571 $949,000,000
2004 $104,015,363,080 $897,000,000
2003 $85,190,469,121 $748,000,000
2002 $67,636,468,625 $927,000,000
2001 $53,800,068,066 $906,000,000
2000 $47,275,954,429 $874,000,000
1999 $49,160,204,397 $441,800,000
1998 $48,784,412,624 $359,600,000
1997 $47,398,564,799 $295,900,000
1996 $46,833,767,124 $159,400,000
1995 $46,577,614,589 $134,800,000
1994 $43,307,949,890 $132,200,000
1993 $40,256,233,360 $160,400,000
1992 $38,857,339,125 $223,500,000
1991 $34,867,307,353 $348,000,000
1990 $34,478,360,679 $384,400,000
1989 $30,422,508,938 $786,300,000
1988 $29,799,838,597 $1,038,300,000
1987 $27,232,016,527 $972,800,000
1986 $24,778,163,812 $840,964,400
1985 $21,510,643,750 $851,296,100
1984 $21,242,726,264 $848,478,300
1983 $21,910,365,258 $823,374,900
1982 $24,141,667,188 $863,933,200
1981 $23,705,883,892 $846,514,500
1980 $23,116,977,148 $854,711,500
1979 $19,959,731,325 $814,067,900
1978 $17,286,744,154 $717,240,400
1977 $14,783,674,055 $673,010,600
1976 $13,235,612,079 $596,675,700
1975 $11,420,392,515 $577,549,300
1974 $10,016,338,179 $486,955,000
1973 $9,138,292,402 $386,968,300
1972 $7,379,313,742 $368,098,000
1971 $6,291,568,221 $341,543,100
1970 $5,780,929,203 $323,099,700
1969 $5,429,812,387 $306,961,800
1968 $4,886,222,555 $276,820,700
1967 - $261,024,300
1966 - $244,459,500
1965 - $229,260,800
1964 - $218,929,100
1963 - $200,229,600
1962 - $191,861,800
1961 - $183,920,900
1960 - $190,495,600

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

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

GDP per capita in Hungary vs Liberia by year

Hungary
GDP per capita

GDP per capita, PPP
Liberia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Hungary Liberia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $23,292 $48,552 $851 $1,871
2023 $22,231 $46,592 $799 $1,795
2022 $18,428 $44,366 $745 $1,692
2021 $19,031 $38,887 $668 $1,539
2020 $16,387 $35,584 $617 $1,660
2019 $17,013 $35,627 $658 $1,900
2018 $16,605 $32,258 $692 $1,800
2017 $14,736 $29,728 $699 $1,665
2016 $13,216 $28,179 $715 $1,490
2015 $12,783 $26,938 $693 $1,340
2014 $14,353 $25,796 $707 $1,419
2013 $13,739 $24,592 $711 $1,360
2012 $12,950 $23,205 $638 $1,157
2011 $14,211 $22,992 $568 $1,041
2010 $13,190 $21,691 $492 $980
2009 $13,051 $20,691 $448 $939
2008 $15,763 $20,709 $452 $915
2007 $13,935 $19,089 $374 $873
2006 $11,478 $18,362 $321 $815
2005 $11,212 $17,091 $287.5 $774
2004 $10,291 $16,251 $284.1 $745
2003 $8,410 $15,460 $239.8 $716
2002 $6,658 $14,532 $299.5 $1,013
2001 $5,281 $13,223 $300 $987
2000 $4,630 $11,872 $298.5 $965
1999 $4,802 $10,892 $156.6 $762
1998 $4,752 $10,415 $134.7 $652
1997 $4,606 $9,846 $122.6 $548
1996 $4,542 $9,388 $71.4 $282.2
1995 $4,509 $9,222 $62.1 $254.4
1994 $4,187 $8,888 $61.5 $262.6
1993 $3,887 $8,441 $74.4 $328
1992 $3,747 $8,284 $107.8 $497
1991 $3,361 $8,352 $177.9 $793
1990 $3,324 $9,169 $172.9 $787
1989 $2,902 - $312 -
1988 $2,812 - $424 -
1987 $2,566 - $409 -
1986 $2,331 - $364 -
1985 $2,020 - $380 -
1984 $1,991 - $390 -
1983 $2,050 - $391 -
1982 $2,255 - $422 -
1981 $2,213 - $426 -
1980 $2,158 - $443 -
1979 $1,865 - $435 -
1978 $1,618 - $394 -
1977 $1,388 - $381 -
1976 $1,249 - $347 -
1975 $1,083 - $346 -
1974 $956 - $299.4 -
1973 $876 - $244.4 -
1972 $710 - $238.6 -
1971 $607 - $227.1 -
1970 $559 - $220.3 -
1969 $527 - $214.7 -
1968 $476 - $198.6 -
1967 - - $192.2 -
1966 - - $184.6 -
1965 - - $177.6 -
1964 - - $173.9 -
1963 - - $163.1 -
1962 - - $160.3 -
1961 - - $157.5 -
1960 - - $167.2 -

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

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

Hungary's GDP per capita is $23,292, ranking 55/197, compared to $851 in Liberia, ranking 184/197. Adjusted for purchasing power (GDP per capita PPP), Hungary ranks 48th at $48,552, while Liberia ranks 188th at $1,871.

Economic indicators

Hungary Liberia
Gross domestic product
$223B
2024
$4.78B
2024
GDP rank
55/197
2024
163/197
2024
GDP growth
0.56%
2023-2024
4.02%
2023-2024
GDP per capita
$23,292
2024
$851
2024
GDP per capita rank
55/197
2024
184/197
2024
GDP per capita, PPP
$48,552
2024
$1,871
2024
GDP per capita PPP rank
48/197
2024
188/197
2024
Government debt
$164B
2024
$2.73B
2024
Debt-to-GDP ratio
73.5%
2024
57.2%
2024
Government debt per person
$17,109
2024
$487
2024
Government debt per person rank
37/185
2024
167/185
2024
Average annual personal income after taxes
$16,996
2026
$1,191
2026
Market capitalization of domestic companies
$41.5B
2024
n/a
Number of millionaires
24,692
2025
n/a
Number of billionaires
4
2025
n/a
Income share by richest 10%
24.4%
2022
27.1%
2016
Income share by poorest 10%
2.8%
2022
2.9%
2016
Government expenditure, % of GDP
46.9%
2024
24.3%
2024
Consumer prices inflation
3.7%
2023-2024
8.2%
2023-2024
Central bank interest rate
6.5%
2024
n/a
Unemployment rate
4.47%
2024
5.93%
2017
Population
9475525
5887000

Spending and national debt comparison by year

Hungary
Spending

Debt
Liberia
Spending

Debt
1x
Year % of GDP
Hungary Liberia
Government spending Government debt Government spending Government debt
2024 46.9% 73.5% 24.3% 57.2%
2023 49.2% 73% 27.1% 57.8%
2022 48.7% 73.9% 26.9% 54.3%
2021 48.1% 76.2% 29.8% 53.3%
2020 51% 78.7% 35.3% 58.7%
2019 45.8% 65% 32.3% 48.6%
2018 45.9% 68.8% 32.7% 37.1%
2017 46.6% 72% 35.1% 31.8%
2016 46.7% 74.6% 35.8% 28.6%
2015 50.4% 75.7% 37.1% 24.8%
2014 50% 76.5% 33.4% 24.3%
2013 50.1% 77.2% 27.4% 20.6%
2012 49.2% 78.4% 30.8% 20.5%
2011 49.1% 80.5% 30.1% 22.7%
2010 48.9% 80.2% 25.2% 25.6%
2009 50.7% 78.2% 23.7% 130.9%
2008 48.8% 71.8% 21.6% 233.1%
2007 49.9% 65.6% 17.2% 394%
2006 51.4% 64.5% 11.1% 472%
2005 49.4% 60.6% 12.8% 535%
2004 48.8% 58.9% 12.1% 543%
2003 49.2% 58.2% 9.85% 658%
2002 51% 55.6% 13.2% 481%
2001 47.2% 52.2% 12.6% 484%
2000 47.3% 55.6% 15.2% 489%
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/liberia | CC BY

In 2024, Hungary's government spending was $104B, accounting for 46.9% of its GDP, while Liberia spent $1.16B, or 24.3% of GDP.

Debt-to-GDP ratio is 73.5% in Hungary and 57.2% in Liberia, ranking 49/185 and 91/185, respectively.

Government deficit by year

Deficit/surplus
Hungary

Liberia
1x
Year Deficit/surplus, % of GDP
Hungary Liberia
2024 -4.92% -1.98%
2023 -6.75% -7.03%
2022 -6.17% -5.33%
2021 -7.11% -2.5%
2020 -7.49% -4.02%
2019 -2.02% -4.92%
2018 -2.05% -4.7%
2017 -2.45% -7.14%
2016 -1.79% -3.83%
2015 -2% -3.74%
2014 -2.77% -4.92%
2013 -2.6% 1.29%
2012 -2.33% -2.86%
2011 -5.22% -4.43%
2010 -4.44% 1.17%
2009 -4.76% -1.39%
2008 -3.78% -2.68%
2007 -5.09% 2.44%
2006 -9.27% 4.42%
2005 -7.79% -0.55%
2004 -6.6% -0.56%
2003 -7.19% 0.39%
2002 -8.79% -1.63%
2001 -4% -0.98%
2000 -3.04% -0.08%
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/liberia | 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 Liberia's deficit of $94.6M, or 1.98% of GDP.

Over the past 25 years, Hungary recorded a fiscal deficit in 25 of those years, while Liberia ran a deficit in 20 years. On average, Hungary posted an annual deficit equal to 4.82% of GDP, compared to deficit of 2.22% of GDP for Liberia.

Inflation comparison by year

Inflation
Hungary

Liberia
1x
Year Consumer prices inflation
Hungary Liberia
2024 3.7% 8.2%
2023 17.1% 10.1%
2022 14.6% 7.6%
2021 5.11% 7.8%
2020 3.33% 17%
2019 3.34% 27%
2018 2.85% 23.5%
2017 2.35% 12.4%
2016 0.39% 8.8%
2015 -0.06% 7.7%
2014 -0.23% 9.9%
2013 1.73% 7.6%
2012 5.65% 6.8%
2011 3.93% 8.5%
2010 4.86% 7.3%
2009 4.21% 7.4%
2008 6.04% 17.5%
2007 7.96% 11.4%
2006 3.93% 9.5%
2005 3.56% 6.9%
2004 6.74% 3.6%
2003 4.66% 10.3%
2002 5.27% 14.2%
2001 9.12% 12.1%
2000 9.8% 5.3%
1999 10% 2%
1998 14.2% -
1997 18.3% -

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06); International Monetary Fund (IMF) | World Economic Outlook (1999–2024, retrieved 2026-02-20).

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

Over the past 26 years, Hungary has recorded an average annual inflation rate of 5.38%, compared with 10.4% in Liberia. In 2024, inflation was 3.7% in Hungary and 8.2% in Liberia.

Top exports between countries

Hungary
Export category Export value
Animal & marine products $1.4M
Machinery & equipment $452K
Chemicals & pharma $157K
Textiles & consumer goods $31K
Metals $18K
Liberia
Export category Export value

Balance of trade

Hungary Liberia
Current account balance
$3.52B
2024
$64.8M
2022
Current account balance ranking
36/190
2024
73/190
2022
Current account balance, % of GDP
+1.58%
2024
+1.62%
2022
Goods imports
$130B
2024
$1.53B
2022
Goods exports
$129B
2024
$1.03B
2022
Service imports
$27.9B
2024
$434M
2022
Service exports
$38.9B
2024
$192M
2022
Imports of goods and services, % of GDP
71.1%
2024
n/a
Exports of goods and services, % of GDP
75.4%
2024
28.5%
2025

Economic freedom indices

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

Hungary Liberia
Economic freedom 62.5 49.8
Economic freedom ranking 86/197 163/197
Property rights 67.3 40.4
Government integrity 44 25.8
Judicial effectiveness 61.9 23.4
Tax burden 85.1 86.1
Government spending 30.2 79.5
Fiscal health 32.7 56.9
Business freedom 70.8 38
Labor freedom 56.5 43.4
Monetary freedom 72.1 71.4
Trade freedom 79.4 57.4
Investment freedom 80 55
Financial freedom 70 20

Economic freedom comparison by year

Hungary
Liberia
1x
Year Economic freedom index
Hungary Liberia
2026 62.5 49.8
2025 61.4 48.5
2024 61.2 49.9
2023 64.1 49.6
2022 66.9 47.9
2021 67.2 49.2
2020 66.4 49
2019 65 49.7
2018 66.7 50.9
2017 65.8 49.1
2016 66 52.2
2015 66.8 52.7
2014 67 52.4
2013 67.3 49.3
2012 67.1 48.6
2011 66.6 46.5
2010 66.1 46.2
2009 66.8 48.1
2008 67.6 -
2007 64.8 -
2006 65 -
2005 63.5 -
2004 62.7 -
2003 63 -
2002 64.5 -
2001 65.6 -
2000 64.4 -
1999 59.6 -
1998 56.9 -
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/liberia | CC BY

The Economic Freedom Index for Hungary is 62.5, ranking 86/197, compared to 49.8 for Liberia, ranking 163/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Hungary Liberia
Services, % of GDP
59.5%
2024
41.9%
2024
Industry, % of GDP
23.7%
2024
22.7%
2024
Agriculture, forestry, and fishing, % of GDP
2.71%
2024
33.8%
2024
GNI, Atlas method
$199B
2024
$4.28B
2024
GNI per capita, PPP
$47,290
2024
$1,750
2024
Total reserves including gold
$46.4B
2024
$600M
2022
Total reserves ranking
42/177
2024
153/177
2022
Net foreign direct investment
-$15.8B
2024
-$960M
2022
Net inflows of foreign direct investment
-$62.2B
2024
$472M
2024
Net outflows of foreign direct investment
-$78B
2024
$74.9M
2024
Servicing debt to the IMF, % of GNI n/a
3.09%
2024
Poverty at national poverty lines
12.1%
2021
50.9%
2016
Gross capital formation, % of GDP
23.5%
2024
n/a

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/liberia | 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 (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 (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.