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Economy of Hungary vs Mali compared: GDP & Debt

Updated on by Georank team

Hungary has a GDP of $223B compared to $26.8B for Mali, ranking 55/197 and 113/197 by economy size, respectively.

Hungary has $164B in government debt (73.5% of GDP), compared to $13.9B (51.7% of GDP) in Mali.

Hungary vs Mali GDP by year

Hungary
Mali
1x
Year GDP, current $
Hungary Mali
2024 $222,722,738,926 $26,794,747,240
2023 $213,240,316,635 $24,813,860,599
2022 $177,002,580,544 $22,539,987,719
2021 $183,282,685,440 $22,999,245,263
2020 $158,468,487,754 $20,698,560,939
2019 $164,936,682,034 $20,477,421,885
2018 $161,184,691,014 $20,368,015,381
2017 $143,335,098,992 $18,308,362,040
2016 $128,983,560,865 $16,743,796,800
2015 $125,244,126,623 $15,583,181,170
2014 $141,128,696,412 $17,081,681,993
2013 $135,646,053,779 $15,747,192,681
2012 $128,470,269,690 $14,795,114,603
2011 $141,712,804,954 $15,452,791,789
2010 $131,898,737,241 $12,710,739,159
2009 $130,807,441,076 $12,155,217,833
2008 $158,228,265,916 $11,462,490,840
2007 $140,123,326,896 $9,699,047,443
2006 $115,604,111,412 $8,212,007,554
2005 $113,098,237,571 $7,429,066,951
2004 $104,015,363,080 $6,485,774,930
2003 $85,190,469,121 $5,605,613,011
2002 $67,636,468,625 $4,647,238,257
2001 $53,800,068,066 $4,124,281,594
2000 $47,275,954,429 $3,521,570,876
1999 $49,160,204,397 $4,091,446,054
1998 $48,784,412,624 $3,894,433,432
1997 $47,398,564,799 $3,414,879,486
1996 $46,833,767,124 $3,743,103,420
1995 $46,577,614,589 $3,373,322,735
1994 $43,307,949,890 $2,655,768,636
1993 $40,256,233,360 $3,632,801,877
1992 $38,857,339,125 $3,680,775,037
1991 $34,867,307,353 $3,576,562,682
1990 $34,478,360,679 $3,248,417,791
1989 $30,422,508,938 $2,824,822,489
1988 $29,799,838,597 $2,712,207,901
1987 $27,232,016,527 $2,437,004,680
1986 $24,778,163,812 $2,132,938,007
1985 $21,510,643,750 $1,594,347,021
1984 $21,242,726,264 $1,387,809,615
1983 $21,910,365,258 $1,496,616,127
1982 $24,141,667,188 $1,680,304,773
1981 $23,705,883,892 $2,234,583,940
1980 $23,116,977,148 $2,704,362,789
1979 $19,959,731,325 $1,595,422,956
1978 $17,286,744,154 $1,222,702,573
1977 $14,783,674,055 $1,049,838,548
1976 $13,235,612,079 $939,228,017
1975 $11,420,392,515 $830,710,615
1974 $10,016,338,179 $538,747,340
1973 $9,138,292,402 $563,683,703
1972 $7,379,313,742 $486,617,280
1971 $6,291,568,221 $395,218,629
1970 $5,780,929,203 $359,772,315
1969 $5,429,812,387 $339,913,867
1968 $4,886,222,555 $343,771,973
1967 - $275,494,478

Data sources: World Bank | Economy & Growth (1967–2024, retrieved 2026-04-06).

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

GDP per capita in Hungary vs Mali by year

Hungary
GDP per capita

GDP per capita, PPP
Mali
GDP per capita

GDP per capita, PPP
1x
Year Current $
Hungary Mali
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $23,292 $48,552 $1,095 $3,315
2023 $22,231 $46,592 $1,044 $3,175
2022 $18,428 $44,366 $977 $3,014
2021 $19,031 $38,887 $1,027 $2,796
2020 $16,387 $35,584 $953 $2,724
2019 $17,013 $35,627 $972 $2,820
2018 $16,605 $32,258 $996 $2,684
2017 $14,736 $29,728 $924 $2,607
2016 $13,216 $28,179 $872 $2,532
2015 $12,783 $26,938 $838 $2,330
2014 $14,353 $25,796 $948 $2,185
2013 $13,739 $24,592 $902 $2,059
2012 $12,950 $23,205 $873 $1,990
2011 $14,211 $22,992 $938 $2,046
2010 $13,190 $21,691 $797 $2,012
2009 $13,051 $20,691 $787 $1,945
2008 $15,763 $20,709 $767 $1,893
2007 $13,935 $19,089 $671 $1,852
2006 $11,478 $18,362 $587 $1,832
2005 $11,212 $17,091 $549 $1,771
2004 $10,291 $16,251 $495 $1,730
2003 $8,410 $15,460 $442 $1,715
2002 $6,658 $14,532 $378 $1,581
2001 $5,281 $13,223 $346 $1,559
2000 $4,630 $11,872 $305 $1,357
1999 $4,802 $10,892 $364 $1,376
1998 $4,752 $10,415 $357 $1,332
1997 $4,606 $9,846 $321 $1,267
1996 $4,542 $9,388 $360 $1,224
1995 $4,509 $9,222 $331 $1,154
1994 $4,187 $8,888 $266.5 $1,147
1993 $3,887 $8,441 $372 $1,087
1992 $3,747 $8,284 $385 $1,039
1991 $3,361 $8,352 $382 $1,091
1990 $3,324 $9,169 $354 $956
1989 $2,902 - $314 -
1988 $2,812 - $307 -
1987 $2,566 - $280.7 -
1986 $2,331 - $250 -
1985 $2,020 - $190.4 -
1984 $1,991 - $169.1 -
1983 $2,050 - $186.3 -
1982 $2,255 - $213.8 -
1981 $2,213 - $290.5 -
1980 $2,158 - $359 -
1979 $1,865 - $216.3 -
1978 $1,618 - $169.1 -
1977 $1,388 - $148.1 -
1976 $1,249 - $134.9 -
1975 $1,083 - $121.5 -
1974 $956 - $80.2 -
1973 $876 - $85.4 -
1972 $710 - $75.1 -
1971 $607 - $62 -
1970 $559 - $57.3 -
1969 $527 - $55 -
1968 $476 - $56.5 -
1967 - - $46 -

Data sources: World Bank | Economy & Growth (1967–2024, retrieved 2026-04-06).

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

Hungary's GDP per capita is $23,292, ranking 55/197, compared to $1,095 in Mali, ranking 173/197. Adjusted for purchasing power (GDP per capita PPP), Hungary ranks 48th at $48,552, while Mali ranks 174th at $3,315.

Economic indicators

Hungary Mali
Gross domestic product
$223B
2024
$26.8B
2024
GDP rank
55/197
2024
113/197
2024
GDP growth
0.56%
2023-2024
4.99%
2023-2024
GDP per capita
$23,292
2024
$1,095
2024
GDP per capita rank
55/197
2024
173/197
2024
GDP per capita, PPP
$48,552
2024
$3,315
2024
GDP per capita PPP rank
48/197
2024
174/197
2024
Government debt
$164B
2024
$13.9B
2024
Debt-to-GDP ratio
73.5%
2024
51.7%
2024
Government debt per person
$17,109
2024
$566
2024
Government debt per person rank
37/185
2024
161/185
2024
Average annual personal income after taxes
$16,996
2026
$1,463
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
28.3%
2021
Income share by poorest 10%
2.8%
2022
3.2%
2021
Government expenditure, % of GDP
46.9%
2024
24.7%
2024
Consumer prices inflation
3.7%
2023-2024
3.2%
2023-2024
Central bank interest rate
6.5%
2024
n/a
Unemployment rate
4.47%
2024
5.45%
2023
Population
9475525
26143152

Spending and national debt comparison by year

Hungary
Spending

Debt
Mali
Spending

Debt
1x
Year % of GDP
Hungary Mali
Government spending Government debt Government spending Government debt
2024 46.9% 73.5% 24.7% 51.7%
2023 49.2% 73% 24.8% 51.9%
2022 48.7% 73.9% 24.4% 50.3%
2021 48.1% 76.2% 26.9% 51.6%
2020 51% 78.7% 26.1% 47.3%
2019 45.8% 65% 23.1% 40.7%
2018 45.9% 68.8% 20.3% 37.5%
2017 46.6% 72% 22.9% 38.2%
2016 46.7% 74.6% 22.3% 37.2%
2015 50.4% 75.7% 20.9% 30.7%
2014 50% 76.5% 20% 26.9%
2013 50.1% 77.2% 19.8% 26.4%
2012 49.2% 78.4% 15.5% 25.4%
2011 49.1% 80.5% 20.6% 24%
2010 48.9% 80.2% 20.3% 25.3%
2009 50.7% 78.2% 22.8% 21.9%
2008 48.8% 71.8% 18.8% 20.1%
2007 49.9% 65.6% 21.5% 18.5%
2006 51.4% 64.5% 22.1% 18.1%
2005 49.4% 60.6% 21.6% 46.6%
2004 48.8% 58.9% 21.8% 42.4%
2003 49.2% 58.2% 20.8% 44.1%
2002 51% 55.6% 19.9% 42.6%
2001 47.2% 52.2% 18.3% 77.5%
2000 47.3% 55.6% 19.4% 90.5%
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/mali | CC BY

In 2024, Hungary's government spending was $104B, accounting for 46.9% of its GDP, while Mali spent $6.61B, or 24.7% of GDP.

Debt-to-GDP ratio is 73.5% in Hungary and 51.7% in Mali, ranking 49/185 and 102/185, respectively.

Government deficit by year

Deficit/surplus
Hungary

Mali
1x
Year Deficit/surplus, % of GDP
Hungary Mali
2024 -4.92% -2.57%
2023 -6.75% -3.57%
2022 -6.17% -4.75%
2021 -7.11% -4.91%
2020 -7.49% -5.42%
2019 -2.02% -1.68%
2018 -2.05% -4.74%
2017 -2.45% -2.86%
2016 -1.79% -3.95%
2015 -2% -1.82%
2014 -2.77% -2.89%
2013 -2.6% -2.37%
2012 -2.33% -0.96%
2011 -5.22% -3.42%
2010 -4.44% -2.57%
2009 -4.76% -3.71%
2008 -3.78% -1.97%
2007 -5.09% -2.78%
2006 -9.27% 27.8%
2005 -7.79% -2.76%
2004 -6.6% -2.36%
2003 -7.19% -1.19%
2002 -8.79% -3.09%
2001 -4% -2.8%
2000 -3.04% -2.64%
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/mali | 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 Mali's deficit of $687M, or 2.57% of GDP.

Over the past 25 years, Hungary recorded a fiscal deficit in 25 of those years, while Mali ran a deficit in 24 years. On average, Hungary posted an annual deficit equal to 4.82% of GDP, compared to deficit of 1.76% of GDP for Mali.

Inflation comparison by year

Inflation
Hungary

Mali
1x
Year Consumer prices inflation
Hungary Mali
2024 3.7% 3.2%
2023 17.1% 2.1%
2022 14.6% 9.7%
2021 5.11% 3.8%
2020 3.33% 0.5%
2019 3.34% -3%
2018 2.85% 1.9%
2017 2.35% 2.4%
2016 0.39% -1.8%
2015 -0.06% 1.4%
2014 -0.23% 0.9%
2013 1.73% -0.6%
2012 5.65% 5.3%
2011 3.93% 3%
2010 4.86% 1.2%
2009 4.21% 2.4%
2008 6.04% 9.2%
2007 7.96% 1.4%
2006 3.93% 1.6%
2005 3.56% 6.4%
2004 6.74% -3.1%
2003 4.66% -1.3%
2002 5.27% 5%
2001 9.12% 5.2%
2000 9.8% -0.8%
1999 10% -1.2%
1998 14.2% 4.1%
1997 18.3% -0.7%

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

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

Over the past 28 years, Hungary has recorded an average annual inflation rate of 6.16%, compared with 2.08% in Mali. In 2024, inflation was 3.7% in Hungary and 3.2% in Mali.

Top exports between countries

Hungary
Export category Export value
Chemicals & pharma $2.17M
Textiles & consumer goods $743K
Raw materials & minerals $216K
Machinery & equipment $211K
Processed food, beverages & tobacco $203K
Metals $7K
Wood & paper products $2K
Mali
Export category Export value
Raw materials & minerals $65K
Machinery & equipment $13K

Balance of trade

Hungary Mali
Current account balance
$3.52B
2024
-$1.61B
2023
Current account balance ranking
36/190
2024
136/190
2023
Current account balance, % of GDP
+1.58%
2024
-6.49%
2023
Goods imports
$130B
2024
$5.73B
2023
Goods exports
$129B
2024
$5.65B
2023
Service imports
$27.9B
2024
$2.34B
2023
Service exports
$38.9B
2024
$475M
2023
Imports of goods and services, % of GDP
71.1%
2024
27.3%
2024
Exports of goods and services, % of GDP
75.4%
2024
22.6%
2024

Economic freedom indices

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

Hungary Mali
Economic freedom 62.5 52.1
Economic freedom ranking 86/197 150/197
Property rights 67.3 13.8
Government integrity 44 23.2
Judicial effectiveness 61.9 23.3
Tax burden 85.1 67.9
Government spending 30.2 81.8
Fiscal health 32.7 73.6
Business freedom 70.8 40.8
Labor freedom 56.5 54.1
Monetary freedom 72.1 78.2
Trade freedom 79.4 64
Investment freedom 80 65
Financial freedom 70 40

Economic freedom comparison by year

Hungary
Mali
1x
Year Economic freedom index
Hungary Mali
2026 62.5 52.1
2025 61.4 52.6
2024 61.2 52.5
2023 64.1 54.5
2022 66.9 55.9
2021 67.2 55.6
2020 66.4 55.9
2019 65 58.1
2018 66.7 57.6
2017 65.8 58.6
2016 66 56.5
2015 66.8 56.4
2014 67 55.5
2013 67.3 56.4
2012 67.1 55.8
2011 66.6 56.3
2010 66.1 55.6
2009 66.8 55.6
2008 67.6 55.6
2007 64.8 54.7
2006 65 54.1
2005 63.5 57.3
2004 62.7 56.6
2003 63 58.6
2002 64.5 61.1
2001 65.6 60.1
2000 64.4 60.3
1999 59.6 58.4
1998 56.9 57.3
1997 55.3 56.4
1996 56.8 57
1995 55.2 52.4

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

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

The Economic Freedom Index for Hungary is 62.5, ranking 86/197, compared to 52.1 for Mali, ranking 150/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Hungary Mali
Services, % of GDP
59.5%
2024
36.3%
2024
Industry, % of GDP
23.7%
2024
23.5%
2024
Agriculture, forestry, and fishing, % of GDP
2.71%
2024
33.3%
2024
GNI, Atlas method
$199B
2024
$25.2B
2024
GNI per capita, PPP
$47,290
2024
$3,230
2024
Total reserves including gold
$46.4B
2024
n/a
Total reserves ranking
42/177
2024
n/a
Net foreign direct investment
-$15.8B
2024
-$673M
2023
Net inflows of foreign direct investment
-$62.2B
2024
$921M
2024
Net outflows of foreign direct investment
-$78B
2024
$78.1M
2024
Servicing debt to the IMF, % of GNI n/a
1.41%
2024
Poverty at national poverty lines
12.1%
2021
43.3%
2024
Gross capital formation, % of GDP
23.5%
2024
19.5%
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/mali | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1967–2024, 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 (2023–2024, 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.