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Economy of Hungary vs Malaysia compared: GDP & Debt

Updated on by Georank team

Hungary has a GDP of $223B compared to $422B for Malaysia, ranking 55/197 and 38/197 by economy size, respectively.

Hungary has $164B in government debt (73.5% of GDP), compared to $296B (70.1% of GDP) in Malaysia.

Hungary vs Malaysia GDP by year

Hungary
Malaysia
1x
Year GDP, current $
Hungary Malaysia
2024 $222,722,738,926 $422,227,005,429
2023 $213,240,316,635 $399,949,418,753
2022 $177,002,580,544 $407,830,525,990
2021 $183,282,685,440 $373,784,553,030
2020 $158,468,487,754 $337,456,163,961
2019 $164,936,682,034 $365,177,721,022
2018 $161,184,691,014 $358,788,845,713
2017 $143,335,098,992 $319,109,094,160
2016 $128,983,560,865 $301,256,033,870
2015 $125,244,126,623 $301,355,266,965
2014 $141,128,696,412 $338,066,095,097
2013 $135,646,053,779 $323,276,235,524
2012 $128,470,269,690 $314,443,047,642
2011 $141,712,804,954 $297,951,668,675
2010 $131,898,737,241 $255,017,638,456
2009 $130,807,441,076 $202,257,453,037
2008 $158,228,265,916 $230,811,614,370
2007 $140,123,326,896 $193,549,569,478
2006 $115,604,111,412 $162,692,258,307
2005 $113,098,237,571 $143,534,405,819
2004 $104,015,363,080 $124,749,473,684
2003 $85,190,469,121 $110,202,368,421
2002 $67,636,468,625 $100,845,526,316
2001 $53,800,068,066 $92,783,947,368
2000 $47,275,954,429 $93,789,736,842
1999 $49,160,204,397 $79,148,421,053
1998 $48,784,412,624 $72,167,498,981
1997 $47,398,564,799 $100,005,323,302
1996 $46,833,767,124 $100,855,393,910
1995 $46,577,614,589 $88,705,342,903
1994 $43,307,949,890 $74,478,356,958
1993 $40,256,233,360 $66,894,966,969
1992 $38,857,339,125 $59,167,550,163
1991 $34,867,307,353 $49,143,148,094
1990 $34,478,360,679 $44,024,585,240
1989 $30,422,508,938 $38,847,965,293
1988 $29,799,838,597 $35,272,109,220
1987 $27,232,016,527 $32,181,210,158
1986 $24,778,163,812 $27,734,111,400
1985 $21,510,643,750 $31,199,633,353
1984 $21,242,726,264 $33,942,897,422
1983 $21,910,365,258 $30,347,442,111
1982 $24,141,667,188 $26,804,493,635
1981 $23,705,883,892 $25,004,285,792
1980 $23,116,977,148 $24,488,224,677
1979 $19,959,731,325 $21,213,264,962
1978 $17,286,744,154 $16,358,079,862
1977 $14,783,674,055 $13,139,488,633
1976 $13,235,612,079 $11,050,234,599
1975 $11,420,392,515 $9,298,800,799
1974 $10,016,338,179 $9,496,204,302
1973 $9,138,292,402 $7,662,902,678
1972 $7,379,313,742 $5,043,347,250
1971 $6,291,568,221 $4,244,395,956
1970 $5,780,929,203 $3,864,145,667
1969 $5,429,812,387 $3,664,552,041
1968 $4,886,222,555 $3,330,371,551
1967 - $3,188,924,677
1966 - $3,143,517,944
1965 - $2,956,337,669
1964 - $2,674,423,922
1963 - $2,510,110,348
1962 - $2,001,489,602
1961 - $1,901,856,123
1960 - $1,916,229,477

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

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

GDP per capita in Hungary vs Malaysia by year

Hungary
GDP per capita

GDP per capita, PPP
Malaysia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Hungary Malaysia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $23,292 $48,552 $11,874 $38,779
2023 $22,231 $46,592 $11,386 $36,467
2022 $18,428 $44,366 $11,755 $34,420
2021 $19,031 $38,887 $10,903 $29,823
2020 $16,387 $35,584 $9,958 $27,475
2019 $17,013 $35,627 $10,920 $28,934
2018 $16,605 $32,258 $10,902 $27,794
2017 $14,736 $29,728 $9,863 $26,416
2016 $13,216 $28,179 $9,477 $25,286
2015 $12,783 $26,938 $9,649 $24,526
2014 $14,353 $25,796 $11,013 $24,307
2013 $13,739 $24,592 $10,714 $23,161
2012 $12,950 $23,205 $10,601 $22,639
2011 $14,211 $22,992 $10,217 $21,324
2010 $13,190 $21,691 $8,899 $20,193
2009 $13,051 $20,691 $7,191 $18,923
2008 $15,763 $20,709 $8,372 $19,480
2007 $13,935 $19,089 $7,169 $18,617
2006 $11,478 $18,362 $6,158 $17,426
2005 $11,212 $17,091 $5,556 $16,371
2004 $10,291 $16,251 $4,939 $15,416
2003 $8,410 $15,460 $4,465 $14,387
2002 $6,658 $14,532 $4,184 $13,656
2001 $5,281 $13,223 $3,944 $13,072
2000 $4,630 $11,872 $4,084 $13,027
1999 $4,802 $10,892 $3,528 $11,980
1998 $4,752 $10,415 $3,294 $11,398
1997 $4,606 $9,846 $4,679 $12,469
1996 $4,542 $9,388 $4,837 $11,709
1995 $4,509 $9,222 $4,363 $10,720
1994 $4,187 $8,888 $3,758 $9,806
1993 $3,887 $8,441 $3,462 $9,018
1992 $3,747 $8,284 $3,141 $8,224
1991 $3,361 $8,352 $2,679 $7,583
1990 $3,324 $9,169 $2,469 $6,887
1989 $2,902 - $2,244 -
1988 $2,812 - $2,100 -
1987 $2,566 - $1,977 -
1986 $2,331 - $1,760 -
1985 $2,020 - $2,046 -
1984 $1,991 - $2,300 -
1983 $2,050 - $2,124 -
1982 $2,255 - $1,938 -
1981 $2,213 - $1,866 -
1980 $2,158 - $1,886 -
1979 $1,865 - $1,680 -
1978 $1,618 - $1,327 -
1977 $1,388 - $1,092 -
1976 $1,249 - $940 -
1975 $1,083 - $811 -
1974 $956 - $848 -
1973 $876 - $701 -
1972 $710 - $472 -
1971 $607 - $407 -
1970 $559 - $380 -
1969 $527 - $368 -
1968 $476 - $342 -
1967 - - $335 -
1966 - - $339 -
1965 - - $326 -
1964 - - $303 -
1963 - - $291.8 -
1962 - - $238.8 -
1961 - - $232.9 -
1960 - - $240.8 -

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

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

Hungary's GDP per capita is $23,292, ranking 55/197, compared to $11,874 in Malaysia, ranking 79/197. Adjusted for purchasing power (GDP per capita PPP), Hungary ranks 48th at $48,552, while Malaysia ranks 60th at $38,779.

Economic indicators

Hungary Malaysia
Gross domestic product
$223B
2024
$422B
2024
GDP rank
55/197
2024
38/197
2024
GDP growth
0.56%
2023-2024
5.11%
2023-2024
GDP per capita
$23,292
2024
$11,874
2024
GDP per capita rank
55/197
2024
79/197
2024
GDP per capita, PPP
$48,552
2024
$38,779
2024
GDP per capita PPP rank
48/197
2024
60/197
2024
Government debt
$164B
2024
$296B
2024
Debt-to-GDP ratio
73.5%
2024
70.1%
2024
Government debt per person
$17,109
2024
$8,322
2024
Government debt per person rank
37/185
2024
62/185
2024
Average annual personal income after taxes
$16,996
2026
$11,005
2026
Market capitalization of domestic companies
$41.5B
2024
$449B
2024
Number of millionaires
24,692
2025
n/a
Number of billionaires
4
2025
19
2025
Income share by richest 10%
24.4%
2022
30.9%
2021
Income share by poorest 10%
2.8%
2022
2.3%
2021
Government expenditure, % of GDP
46.9%
2024
23.9%
2024
Consumer prices inflation
3.7%
2023-2024
1.83%
2023-2024
Central bank interest rate
6.5%
2024
2.75%
2025
Unemployment rate
4.47%
2024
3.93%
2022
Population
9475525
36512221

Spending and national debt comparison by year

Hungary
Spending

Debt
Malaysia
Spending

Debt
1x
Year % of GDP
Hungary Malaysia
Government spending Government debt Government spending Government debt
2024 46.9% 73.5% 23.9% 70.1%
2023 49.2% 73% 24.9% 69.7%
2022 48.7% 73.9% 24.6% 65.5%
2021 48.1% 76.2% 24.5% 69.2%
2020 51% 78.7% 25% 67.7%
2019 45.8% 65% 23.6% 57.1%
2018 45.9% 68.8% 22.8% 55.6%
2017 46.6% 72% 22% 54.4%
2016 46.7% 74.6% 22.9% 55.8%
2015 50.4% 75.7% 24.7% 57%
2014 50% 76.5% 26% 55.4%
2013 50.1% 77.2% 27.8% 55.7%
2012 49.2% 78.4% 28.5% 53.8%
2011 49.1% 80.5% 27.1% 51.9%
2010 48.9% 80.2% 26.6% 51.2%
2009 50.7% 78.2% 30.9% 50.4%
2008 48.8% 71.8% 26.9% 39.4%
2007 49.9% 65.6% 25.9% 39.3%
2006 51.4% 64.5% 25.6% 39.7%
2005 49.4% 60.6% 24.5% 40.8%
2004 48.8% 58.9% 25.9% 42%
2003 49.2% 58.2% 28.1% 41.4%
2002 51% 55.6% 27.1% 39.5%
2001 47.2% 52.2% 28.2% 38.1%
2000 47.3% 55.6% 25.6% 32.5%
1999 48.9% 60.3% 24.6% 34.4%
1998 50.7% 60.4% 23.1% 33.6%
1997 49.5% 62.2% 21.2% 29.6%
1996 50.9% 71.2% 22.4% 32.8%
1995 55% 83.9% 22.6% 38.2%
1994 - 86.2% 23.3% 43.7%
1993 - 87.2% 24.6% 51.1%
1992 - 76.5% 28.2% 59.1%
1991 - 74.2% 27.4% 67.3%
1990 - 63.7% 30.5% 74.1%
1989 - 70.7% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1989–1994, retrieved 2026-02-20).

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

In 2024, Hungary's government spending was $104B, accounting for 46.9% of its GDP, while Malaysia spent $101B, or 23.9% of GDP.

Debt-to-GDP ratio is 73.5% in Hungary and 70.1% in Malaysia, ranking 49/185 and 58/185, respectively.

Government deficit by year

Deficit/surplus
Hungary

Malaysia
1x
Year Deficit/surplus, % of GDP
Hungary Malaysia
2024 -4.92% -3.95%
2023 -6.75% -3.97%
2022 -6.17% -4.56%
2021 -7.11% -6.03%
2020 -7.49% -4.9%
2019 -2.02% -2.01%
2018 -2.05% -2.64%
2017 -2.45% -2.41%
2016 -1.79% -2.6%
2015 -2% -2.55%
2014 -2.77% -2.63%
2013 -2.6% -3.48%
2012 -2.33% -3.1%
2011 -5.22% -3.57%
2010 -4.44% -4.32%
2009 -4.76% -5.88%
2008 -3.78% -3.4%
2007 -5.09% -2.57%
2006 -9.27% -2.6%
2005 -7.79% -2.83%
2004 -6.6% -3.35%
2003 -7.19% -4.6%
2002 -8.79% -3.96%
2001 -4% -4.36%
2000 -3.04% -6.05%
1999 -5.27% -3%
1998 -7.41% -0.63%
1997 -5.54% 4.84%
1996 -4.36% 3.27%
1995 -8.57% 3.1%
1994 - 5.45%
1993 - 3.44%
1992 - 1.81%
1991 - 1.6%
1990 - 0.15%
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 (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1927–1943, retrieved 2026-02-20).

GeoRank.org/economy/hungary/malaysia | 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 Malaysia's deficit of $16.7B, or 3.95% of GDP.

Over the past 30 years, Hungary recorded a fiscal deficit in 30 of those years, while Malaysia ran a deficit in 27 years. On average, Hungary posted an annual deficit equal to 5.05% of GDP, compared to deficit of 2.83% of GDP for Malaysia.

Inflation comparison by year

Inflation
Hungary

Malaysia
1x
Year Consumer prices inflation
Hungary Malaysia
2024 3.7% 1.83%
2023 17.1% 2.49%
2022 14.6% 3.38%
2021 5.11% 2.48%
2020 3.33% -1.14%
2019 3.34% 0.66%
2018 2.85% 0.88%
2017 2.35% 3.87%
2016 0.39% 2.09%
2015 -0.06% 2.1%
2014 -0.23% 3.14%
2013 1.73% 2.11%
2012 5.65% 1.66%
2011 3.93% 3.17%
2010 4.86% 1.62%
2009 4.21% 0.58%
2008 6.04% 5.44%
2007 7.96% 2.03%
2006 3.93% 3.61%
2005 3.56% 2.98%
2004 6.74% 1.42%
2003 4.66% 1.09%
2002 5.27% 1.81%
2001 9.12% 1.42%
2000 9.8% 1.53%
1999 10% 2.74%
1998 14.2% 5.27%
1997 18.3% 2.66%

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

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

Over the past 28 years, Hungary has recorded an average annual inflation rate of 6.16%, compared with 2.25% in Malaysia. In 2024, inflation was 3.7% in Hungary and 1.83% in Malaysia.

Top exports between countries

Hungary
Export category Export value
Machinery & equipment $130M
Manufacturing & construction services $28.3M
Business & finance services $17.4M
Wood & paper products $12.4M
Metals $10.5M
Chemicals & pharma $9.99M
Raw materials & minerals $8.69M
Transport & tourism services $5.06M
Processed food, beverages & tobacco $4.96M
Textiles & consumer goods $3.04M
Malaysia
Export category Export value
Machinery & equipment $719M
Metals $53.8M
Raw materials & minerals $6.68M
Chemicals & pharma $6.07M
Processed food, beverages & tobacco $5.62M
Textiles & consumer goods $4.62M
Wood & paper products $513K
Miscellaneous $512K
Raw agricultural goods $18K
Animal & marine products $13K

Balance of trade

Hungary Malaysia
Current account balance
$3.52B
2024
$7.15B
2024
Current account balance ranking
36/190
2024
26/190
2024
Current account balance, % of GDP
+1.58%
2024
+1.69%
2024
Goods imports
$130B
2024
$223B
2024
Goods exports
$129B
2024
$248B
2024
Service imports
$27.9B
2024
$56.4B
2024
Service exports
$38.9B
2024
$53.4B
2024
Imports of goods and services, % of GDP
71.1%
2024
66%
2024
Exports of goods and services, % of GDP
75.4%
2024
71.3%
2024

Economic freedom indices

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

Hungary Malaysia
Economic freedom 62.5 68
Economic freedom ranking 86/197 51/197
Property rights 67.3 62.7
Government integrity 44 52.9
Judicial effectiveness 61.9 63.4
Tax burden 85.1 83.5
Government spending 30.2 82
Fiscal health 32.7 62.5
Business freedom 70.8 79.6
Labor freedom 56.5 55.4
Monetary freedom 72.1 80.8
Trade freedom 79.4 83
Investment freedom 80 60
Financial freedom 70 50

Economic freedom comparison by year

Hungary
Malaysia
1x
Year Economic freedom index
Hungary Malaysia
2026 62.5 68
2025 61.4 67.1
2024 61.2 65.7
2023 64.1 67.3
2022 66.9 68.1
2021 67.2 74.4
2020 66.4 74.7
2019 65 74
2018 66.7 74.5
2017 65.8 73.8
2016 66 71.5
2015 66.8 70.8
2014 67 69.6
2013 67.3 66.1
2012 67.1 66.4
2011 66.6 66.3
2010 66.1 64.8
2009 66.8 64.6
2008 67.6 63.9
2007 64.8 63.8
2006 65 61.6
2005 63.5 61.9
2004 62.7 59.9
2003 63 61.1
2002 64.5 60.1
2001 65.6 60.2
2000 64.4 66
1999 59.6 68.9
1998 56.9 68.2
1997 55.3 66.8
1996 56.8 69.9
1995 55.2 71.9

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

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

The Economic Freedom Index for Hungary is 62.5, ranking 86/197, compared to 68 for Malaysia, ranking 51/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Hungary Malaysia
Services, % of GDP
59.5%
2024
53.7%
2024
Industry, % of GDP
23.7%
2024
37%
2024
Agriculture, forestry, and fishing, % of GDP
2.71%
2024
8.13%
2024
GNI, Atlas method
$199B
2024
$414B
2024
GNI per capita, PPP
$47,290
2024
$37,450
2024
Total reserves including gold
$46.4B
2024
$116B
2024
Total reserves ranking
42/177
2024
24/177
2024
Net foreign direct investment
-$15.8B
2024
-$2.55B
2024
Net inflows of foreign direct investment
-$62.2B
2024
$15.6B
2024
Net outflows of foreign direct investment
-$78B
2024
$13B
2024
Poverty at national poverty lines
12.1%
2021
5.8%
2023
Gross capital formation, % of GDP
23.5%
2024
22%
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/malaysia | 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 (1927–1994, 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.

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.