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Economy of Hungary vs Malawi compared: GDP & Debt

Updated on by Georank

Hungary has a GDP of $246B compared to $14.9B for Malawi, ranking 55/197 and 148/197 by economy size, respectively.

Hungary has $185B in government debt (75.2% of GDP), compared to $11.7B (78.4% of GDP) in Malawi.

Hungary vs Malawi GDP by year

Hungary
Malawi
1x
Year GDP, current $
Hungary Malawi
2025 $246,490,213,513 $14,918,276,698
2024 $222,848,211,034 $11,311,971,400
2023 $213,029,511,029 $13,363,669,673
2022 $177,002,580,544 $12,429,059,928
2021 $183,282,685,440 $12,378,119,199
2020 $158,468,487,754 $11,769,313,598
2019 $164,936,682,034 $11,051,852,713
2018 $161,184,691,014 $9,879,220,354
2017 $143,335,098,992 $8,943,543,794
2016 $128,983,560,865 $7,909,868,618
2015 $125,244,126,623 $9,219,474,379
2014 $141,128,696,412 $8,801,326,169
2013 $135,646,053,779 $8,031,571,928
2012 $128,470,269,690 $8,773,203,178
2011 $141,712,804,954 $11,648,142,958
2010 $131,898,737,241 $10,128,323,011
2009 $130,807,441,076 $9,009,887,947
2008 $158,228,265,916 $7,743,617,352
2007 $140,123,326,896 $6,451,210,219
2006 $115,604,111,412 $5,818,279,739
2005 $113,098,237,571 $5,320,409,651
2004 $104,015,363,080 $5,058,726,350
2003 $85,190,469,121 $4,669,789,300
2002 $67,636,468,625 $5,087,328,438
2001 $53,800,068,066 $2,498,008,665
2000 $47,275,954,429 $2,537,307,580
1999 $49,160,204,397 $2,584,478,924
1998 $48,784,412,624 $2,547,609,590
1997 $47,398,564,799 $3,875,785,863
1996 $46,833,767,124 $3,319,573,750
1995 $46,577,614,589 $2,033,701,498
1994 $43,307,949,890 $1,719,864,761
1993 $40,256,233,360 $3,013,392,658
1992 $38,857,339,125 $2,618,837,835
1991 $34,867,307,353 $3,206,783,830
1990 $34,478,360,679 $2,737,087,862
1989 $30,422,508,938 $2,314,205,130
1988 $29,799,838,597 $2,008,189,508
1987 $27,232,016,527 $1,721,711,808
1986 $24,778,163,812 $1,722,586,299
1985 $21,510,643,750 $1,646,442,273
1984 $21,242,726,264 $1,758,028,656
1983 $21,910,365,258 $1,780,148,049
1982 $24,141,667,188 $1,717,379,495
1981 $23,705,883,892 $1,801,193,910
1980 $23,116,977,148 $1,801,156,775
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 (1968–2025, retrieved 2026-07-08).

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

GDP per capita in Hungary vs Malawi by year

Hungary
GDP per capita

GDP per capita, PPP
Malawi
GDP per capita

GDP per capita, PPP
1x
Year Current $
Hungary Malawi
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $25,907 - $672 -
2024 $23,305 $48,552 $522 $1,858
2023 $22,209 $46,592 $633 $1,830
2022 $18,428 $44,366 $604 $1,778
2021 $19,031 $38,887 $617 $1,688
2020 $16,387 $35,584 $603 $1,513
2019 $17,013 $35,627 $581 $1,450
2018 $16,605 $32,258 $533 $1,364
2017 $14,736 $29,728 $496 $1,380
2016 $13,216 $28,179 $451 $1,410
2015 $12,783 $26,938 $540 $1,403
2014 $14,353 $25,796 $530 $1,506
2013 $13,739 $24,592 $497 $1,558
2012 $12,950 $23,205 $558 $1,464
2011 $14,211 $22,992 $763 $1,516
2010 $13,190 $21,691 $683 $1,458
2009 $13,051 $20,691 $626 $1,388
2008 $15,763 $20,709 $554 $1,311
2007 $13,935 $19,089 $475 $1,231
2006 $11,478 $18,362 $441 $1,124
2005 $11,212 $17,091 $414 $1,071
2004 $10,291 $16,251 $405 $1,033
2003 $8,410 $15,460 $383 $979
2002 $6,658 $14,532 $428 $931
2001 $5,281 $13,223 $215.5 $924
2000 $4,630 $11,872 $224.2 $974
1999 $4,802 $10,892 $233.9 $961
1998 $4,752 $10,415 $236 $941
1997 $4,606 $9,846 $367 $915
1996 $4,542 $9,388 $321 $884
1995 $4,509 $9,222 $200.4 $825
1994 $4,187 $8,888 $169.2 $692
1993 $3,887 $8,441 $293 $746
1992 $3,747 $8,284 $258.4 $674
1991 $3,361 $8,352 $326 $732
1990 $3,324 $9,169 $286.7 $672
1989 $2,902 - $252.2 -
1988 $2,812 - $229.4 -
1987 $2,566 - $207.6 -
1986 $2,331 - $217.9 -
1985 $2,020 - $216.1 -
1984 $1,991 - $239.7 -
1983 $2,050 - $252.4 -
1982 $2,255 - $253.3 -
1981 $2,213 - $276.4 -
1980 $2,158 - $287.5 -
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 (1968–2025, retrieved 2026-07-08).

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

Hungary's GDP per capita is $25,907, ranking 52/197, compared to $672 in Malawi, ranking 190/197. Adjusted for purchasing power (GDP per capita PPP), Hungary ranks 48th at $48,552, while Malawi ranks 189th at $1,858.

Economic indicators

Hungary Malawi
Gross domestic product
$246B
2025
$14.9B
2025
GDP rank
55/197
2025
148/197
2025
GDP growth
0.51%
2024-2025
1.89%
2024-2025
GDP per capita
$25,907
2025
$672
2025
GDP per capita rank
52/197
2025
190/197
2025
GDP per capita, PPP
$48,552
2024
$1,858
2024
GDP per capita PPP rank
48/197
2024
189/197
2024
Government debt
$185B
2025
$11.7B
2025
Debt-to-GDP ratio
75.2%
2025
78.4%
2025
Government debt per person
$19,473
2025
$526
2025
Government debt per person rank
33/185
2025
166/185
2025
Average annual personal income after taxes
$18,331
2026
$1,255
2026
Market capitalization of domestic companies
$62.6B
2025
n/a
Number of millionaires
27,000
2026
n/a
Number of billionaires
4
2026
n/a
Income share by richest 10%
24.4%
2022
31%
2019
Income share by poorest 10%
2.8%
2022
2.9%
2019
Government expenditure, % of GDP
47.5%
2025
30.6%
2025
Consumer prices inflation
4.41%
2024-2025
28.4%
2024-2025
Central bank interest rate
6.25%
2026
24%
2026
Unemployment rate
4.4%
2025
15.4%
2024
Population
9454659
23086106

Spending and national debt comparison by year

Hungary
Spending

Debt
Malawi
Spending

Debt
1x
Year % of GDP
Hungary Malawi
Government spending Government debt Government spending Government debt
2025 47.5% 75.2% 30.6% 78.4%
2024 46.9% 73.5% 29.5% 87.6%
2023 49.3% 73.2% 25.5% 86.7%
2022 48.9% 74.1% 26.7% 75.7%
2021 48.1% 76.2% 23.7% 66.5%
2020 51% 78.7% 22.7% 53.9%
2019 45.8% 65% 19.3% 41.2%
2018 45.9% 68.8% 19.4% 40.8%
2017 46.6% 72% 21% 40%
2016 46.7% 74.6% 19.7% 37.1%
2015 50.4% 75.7% 19.5% 35.5%
2014 50% 76.5% 18.3% 33.5%
2013 50.1% 77.2% 20.7% 35.3%
2012 49.2% 78.4% 18.8% 28.6%
2011 49.1% 80.5% 17% 20%
2010 48.9% 80.2% 19.6% 19.3%
2009 50.7% 78.2% 20.2% 23.5%
2008 48.8% 71.8% 20.6% 23.5%
2007 49.9% 65.6% 20.7% 18.9%
2006 51.4% 64.5% 17.8% 17.9%
2005 49.4% 60.6% 17.4% 70.9%
2004 48.8% 58.9% 17.2% 74.7%
2003 49.2% 58.2% 15.4% 84.7%
2002 51% 55.6% 13.8% 101.5%
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 (1995–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1989–1994, retrieved 2026-07-08).

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

In 2025, Hungary's government spending was $117B, accounting for 47.5% of its GDP, while Malawi spent $4.56B, or 30.6% of GDP.

Debt-to-GDP ratio is 75.2% in Hungary and 78.4% in Malawi, ranking 50/185 and 47/185, respectively.

Government deficit by year

Deficit/surplus
Hungary

Malawi
1x
Year Deficit/surplus, % of GDP
Hungary Malawi
2025 -4.68% -11.5%
2024 -4.9% -11%
2023 -6.77% -7.84%
2022 -6.19% -9.32%
2021 -7.11% -8.34%
2020 -7.49% -8.03%
2019 -2.02% -4.55%
2018 -2.05% -4.35%
2017 -2.45% -5.15%
2016 -1.79% -4.9%
2015 -2% -4.17%
2014 -2.77% -3.08%
2013 -2.6% -3.73%
2012 -2.33% -1.45%
2011 -5.22% -2.85%
2010 -4.44% 0.63%
2009 -4.76% -2.97%
2008 -3.78% -2.92%
2007 -5.09% -2.56%
2006 -9.27% -0.05%
2005 -7.79% -1.63%
2004 -6.6% -2.61%
2003 -7.19% -2.6%
2002 -8.79% -4.47%
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 (1995–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1927–1943, retrieved 2026-07-08).

GeoRank.org/economy/hungary/malawi | 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 Malawi's deficit of $1.71B, or 11.5% of GDP.

Over the past 24 years, Hungary recorded a fiscal deficit in 24 of those years, while Malawi ran a deficit in 23 years. On average, Hungary posted an annual deficit equal to 4.92% of GDP, compared to deficit of 4.56% of GDP for Malawi.

Inflation comparison by year

Inflation
Hungary

Malawi
1x
Year Consumer prices inflation
Hungary Malawi
2025 4.41% 28.4%
2024 3.7% 32.2%
2023 17.1% 28.8%
2022 14.6% 20.8%
2021 5.11% 9.3%
2020 3.33% 8.6%
2019 3.34% 9.4%
2018 2.85% 9.2%
2017 2.35% 11.5%
2016 0.39% 21.7%
2015 -0.06% 21.9%
2014 -0.23% 23.8%
2013 1.73% 28.3%
2012 5.65% 21.3%
2011 3.93% 7.6%
2010 4.86% 7.4%
2009 4.21% 8.4%
2008 6.04% 8.7%
2007 7.96% 7.9%
2006 3.93% 13.9%
2005 3.56% 15.5%
2004 6.74% 11.4%
2003 4.66% 9.6%
2002 5.27% 14.7%
2001 9.12% 22.7%
2000 9.8% 29.6%
1999 10% 44.8%
1998 14.2% 29.8%
1997 18.3% 9.1%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2025, retrieved 2026-07-08); World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

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

Over the past 29 years, Hungary has recorded an average annual inflation rate of 6.1%, compared with 17.8% in Malawi. In 2025, inflation was 4.41% in Hungary and 28.4% in Malawi.

Top exports between countries

Hungary
Export category Export value
Machinery & equipment $322K
Textiles & consumer goods $218K
Chemicals & pharma $116K
Metals $3K
Malawi
Export category Export value
Processed food, beverages & tobacco $1.04M
Machinery & equipment $24K

Balance of trade

Hungary Malawi
Current account balance
$4.08B
2025
-$2.13B
2024
Current account balance ranking
34/190
2025
143/190
2024
Current account balance, % of GDP
+1.65%
2025
-18.8%
2024
Goods imports
$139B
2025
$3.02B
2024
Goods exports
$136B
2025
$1.02B
2024
Service imports
$29.8B
2025
$895M
2024
Service exports
$43.1B
2025
$508M
2024
Imports of goods and services, % of GDP
68.1%
2025
28.8%
2025
Exports of goods and services, % of GDP
72.6%
2025
10.6%
2025

Economic freedom indices

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

Hungary Malawi
Economic freedom 62.5 50.7
Economic freedom ranking 86/197 159/197
Property rights 67.3 49.5
Government integrity 44 35
Judicial effectiveness 61.9 51.8
Tax burden 85.1 77
Government spending 30.2 77.8
Fiscal health 32.7 4.7
Business freedom 70.8 34.1
Labor freedom 56.5 55.2
Monetary freedom 72.1 55.1
Trade freedom 79.4 68.6
Investment freedom 80 50
Financial freedom 70 50

Economic freedom comparison by year

Hungary
Malawi
1x
Year Economic freedom index
Hungary Malawi
2026 62.5 50.7
2025 61.4 50.9
2024 61.2 52.1
2023 64.1 52.8
2022 66.9 53
2021 67.2 53
2020 66.4 52.8
2019 65 51.4
2018 66.7 52
2017 65.8 52.2
2016 66 51.8
2015 66.8 54.8
2014 67 55.4
2013 67.3 55.3
2012 67.1 56.4
2011 66.6 55.8
2010 66.1 54.1
2009 66.8 53.7
2008 67.6 52.7
2007 64.8 52.9
2006 65 55.4
2005 63.5 53.6
2004 62.7 53.6
2003 63 53.2
2002 64.5 56.9
2001 65.6 56.2
2000 64.4 57.4
1999 59.6 54
1998 56.9 54.1
1997 55.3 53.4
1996 56.8 56.2
1995 55.2 54.7

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

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

The Economic Freedom Index for Hungary is 62.5, ranking 86/197, compared to 50.7 for Malawi, ranking 159/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Hungary Malawi
Services, % of GDP
60.1%
2025
48.7%
2025
Industry, % of GDP
23%
2025
14.3%
2025
Agriculture, forestry, and fishing, % of GDP
2.65%
2025
30%
2025
GNI, Atlas method
$227B
2025
$13.4B
2025
GNI per capita, PPP
$48,630
2025
$1,880
2025
Total reserves including gold
$59.1B
2025
$594M
2020
Total reserves ranking
42/177
2025
154/177
2020
Net foreign direct investment
$9.1B
2025
-$202M
2024
Net inflows of foreign direct investment
-$61.3B
2024
$258M
2024
Net outflows of foreign direct investment
-$76.3B
2024
$56.4M
2024
Servicing debt to the IMF, % of GNI n/a
1.47%
2024
Poverty at national poverty lines
12.1%
2021
50.7%
2019
Gross capital formation, % of GDP
22.2%
2025
15.7%
2025

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/malawi | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1968–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1995–2025, 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 (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.

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.