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Economy of Hungary vs Moldova compared: GDP & Debt

Updated on by Georank

Hungary has a GDP of $246B compared to $20.4B for Moldova, ranking 55/197 and 133/197 by economy size, respectively.

Hungary has $185B in government debt (75.2% of GDP), compared to $7.45B (36.6% of GDP) in Moldova.

Hungary vs Moldova GDP by year

Hungary
Moldova
1x
Year GDP, current $
Hungary Moldova
2025 $246,490,213,513 $20,351,796,275
2024 $222,848,211,034 $18,206,842,141
2023 $213,029,511,029 $16,711,906,746
2022 $177,002,580,544 $14,525,337,524
2021 $183,282,685,440 $13,691,869,264
2020 $158,468,487,754 $11,530,746,234
2019 $164,936,682,034 $11,736,797,055
2018 $161,184,691,014 $11,252,353,421
2017 $143,335,098,992 $9,514,404,016
2016 $128,983,560,865 $7,980,917,076
2015 $125,244,126,623 $7,797,667,197
2014 $141,128,696,412 $9,402,090,138
2013 $135,646,053,779 $9,496,717,876
2012 $128,470,269,690 $8,709,138,635
2011 $141,712,804,954 $8,414,352,020
2010 $131,898,737,241 $6,974,982,370
2009 $130,807,441,076 $5,439,434,272
2008 $158,228,265,916 $6,054,824,248
2007 $140,123,326,896 $4,401,173,152
2006 $115,604,111,412 $3,408,255,451
2005 $113,098,237,571 $2,988,342,907
2004 $104,015,363,080 $2,598,249,556
2003 $85,190,469,121 $1,980,907,435
2002 $67,636,468,625 $1,661,818,168
2001 $53,800,068,066 $1,480,673,594
2000 $47,275,954,429 $1,288,429,392
1999 $49,160,204,397 $1,170,782,957
1998 $48,784,412,624 $1,698,717,505
1997 $47,398,564,799 $1,930,081,169
1996 $46,833,767,124 $1,695,122,174
1995 $46,577,614,589 $1,752,999,370
1994 $43,307,949,890 $1,702,314,268
1993 $40,256,233,360 $2,371,813,324
1992 $38,857,339,125 $2,319,243,436
1991 $34,867,307,353 $3,094,565,871
1990 $34,478,360,679 $3,592,857,043
1989 $30,422,508,938 -
1988 $29,799,838,597 -
1987 $27,232,016,527 -
1986 $24,778,163,812 -
1985 $21,510,643,750 -
1984 $21,242,726,264 -
1983 $21,910,365,258 -
1982 $24,141,667,188 -
1981 $23,705,883,892 -
1980 $23,116,977,148 -
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/moldova | CC BY

GDP per capita in Hungary vs Moldova by year

Hungary
GDP per capita

GDP per capita, PPP
Moldova
GDP per capita

GDP per capita, PPP
1x
Year Current $
Hungary Moldova
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $25,907 - $8,622 -
2024 $23,305 $48,552 $7,579 $18,615
2023 $22,209 $46,592 $6,800 $17,747
2022 $18,428 $44,366 $5,744 $16,453
2021 $19,031 $38,887 $5,275 $15,682
2020 $16,387 $35,584 $4,376 $13,527
2019 $17,013 $35,627 $4,405 $13,413
2018 $16,605 $32,258 $4,156 $11,868
2017 $14,736 $29,728 $3,453 $11,252
2016 $13,216 $28,179 $2,847 $10,326
2015 $12,783 $26,938 $2,750 $9,198
2014 $14,353 $25,796 $3,290 $8,643
2013 $13,739 $24,592 $3,321 $8,233
2012 $12,950 $23,205 $3,045 $7,255
2011 $14,211 $22,992 $2,941 $6,833
2010 $13,190 $21,691 $2,437 $6,323
2009 $13,051 $20,691 $1,898 $5,827
2008 $15,763 $20,709 $2,111 $6,153
2007 $13,935 $19,089 $1,531 $5,590
2006 $11,478 $18,362 $1,183 $5,271
2005 $11,212 $17,091 $1,034 $4,866
2004 $10,291 $16,251 $897 $4,378
2003 $8,410 $15,460 $682 $3,960
2002 $6,658 $14,532 $571 $3,633
2001 $5,281 $13,223 $507 $3,311
2000 $4,630 $11,872 $441 $3,045
1999 $4,802 $10,892 $399 $2,910
1998 $4,752 $10,415 $579 $2,965
1997 $4,606 $9,846 $657 $3,136
1996 $4,542 $9,388 $575 $3,021
1995 $4,509 $9,222 $594 $3,146
1994 $4,187 $8,888 $574 $3,111
1993 $3,887 $8,441 $797 $4,394
1992 $3,747 $8,284 $778 $4,337
1991 $3,361 $8,352 $1,038 $5,980
1990 $3,324 $9,169 $1,207 $6,895
1989 $2,902 - - -
1988 $2,812 - - -
1987 $2,566 - - -
1986 $2,331 - - -
1985 $2,020 - - -
1984 $1,991 - - -
1983 $2,050 - - -
1982 $2,255 - - -
1981 $2,213 - - -
1980 $2,158 - - -
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/moldova | CC BY

Hungary's GDP per capita is $25,907, ranking 52/197, compared to $8,622 in Moldova, ranking 93/197. Adjusted for purchasing power (GDP per capita PPP), Hungary ranks 48th at $48,552, while Moldova ranks 100th at $18,615.

Economic indicators

Hungary Moldova
Gross domestic product
$246B
2025
$20.4B
2025
GDP rank
55/197
2025
133/197
2025
GDP growth
0.51%
2024-2025
2.42%
2024-2025
GDP per capita
$25,907
2025
$8,622
2025
GDP per capita rank
52/197
2025
93/197
2025
GDP per capita, PPP
$48,552
2024
$18,615
2024
GDP per capita PPP rank
48/197
2024
100/197
2024
Government debt
$185B
2025
$7.45B
2025
Debt-to-GDP ratio
75.2%
2025
36.6%
2025
Government debt per person
$19,473
2025
$3,158
2025
Government debt per person rank
33/185
2025
103/185
2025
Average annual personal income after taxes
$18,331
2026
$4,301
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
22.8%
2023
Income share by poorest 10%
2.8%
2022
4.3%
2023
Government expenditure, % of GDP
47.5%
2025
39.4%
2025
Consumer prices inflation
4.41%
2024-2025
7.76%
2024-2025
Central bank interest rate
6.25%
2026
6.5%
2026
Unemployment rate
4.4%
2025
1.28%
2025
Population
9454659
2328600

Spending and national debt comparison by year

Hungary
Spending

Debt
Moldova
Spending

Debt
1x
Year % of GDP
Hungary Moldova
Government spending Government debt Government spending Government debt
2025 47.5% 75.2% 39.4% 36.6%
2024 46.9% 73.5% 38% 38.8%
2023 49.3% 73.2% 38.8% 34.9%
2022 48.9% 74.1% 36.6% 35%
2021 48.1% 76.2% 34.6% 33.6%
2020 51% 78.7% 36.7% 36.6%
2019 45.8% 65% 32% 28.8%
2018 45.9% 68.8% 31.5% 31.8%
2017 46.6% 72% 31% 34.9%
2016 46.7% 74.6% 30.5% 39.7%
2015 50.4% 75.7% 31.7% 42.1%
2014 50% 76.5% 33.8% 35.4%
2013 50.1% 77.2% 32.4% 30%
2012 49.2% 78.4% 33.7% 31.3%
2011 49.1% 80.5% 32.6% 24.2%
2010 48.9% 80.2% 34.1% 25.5%
2009 50.7% 78.2% 45.3% 32.6%
2008 48.8% 71.8% 41.5% 22.2%
2007 49.9% 65.6% 42.7% 28.3%
2006 51.4% 64.5% 40.3% 35%
2005 49.4% 60.6% 37.1% 40.4%
2004 48.8% 58.9% 34.8% 49.3%
2003 49.2% 58.2% 33.5% 68.1%
2002 51% 55.6% 30.7% 80.3%
2001 47.2% 52.2% 29.5% 85.4%
2000 47.3% 55.6% 34% 89.1%
1999 48.9% 60.3% 33% 150.7%
1998 50.7% 60.4% 39.1% 159.4%
1997 49.5% 62.2% 46% 89%
1996 50.9% 71.2% 43.3% 87.5%
1995 55% 83.9% 42% 79.5%
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/moldova | CC BY

In 2025, Hungary's government spending was $117B, accounting for 47.5% of its GDP, while Moldova spent $8.02B, or 39.4% of GDP.

Debt-to-GDP ratio is 75.2% in Hungary and 36.6% in Moldova, ranking 50/185 and 140/185, respectively.

Government deficit by year

Deficit/surplus
Hungary

Moldova
1x
Year Deficit/surplus, % of GDP
Hungary Moldova
2025 -4.68% -3.87%
2024 -4.9% -4.02%
2023 -6.77% -5.13%
2022 -6.19% -3.24%
2021 -7.11% -2.62%
2020 -7.49% -5.32%
2019 -2.02% -1.47%
2018 -2.05% -0.85%
2017 -2.45% -0.65%
2016 -1.79% -1.56%
2015 -2% -1.93%
2014 -2.77% -1.6%
2013 -2.6% -1.57%
2012 -2.33% -1.93%
2011 -5.22% -2.05%
2010 -4.44% -2.18%
2009 -4.76% -6.38%
2008 -3.78% -0.87%
2007 -5.09% 0.15%
2006 -9.27% -0.42%
2005 -7.79% 1.44%
2004 -6.6% 0.59%
2003 -7.19% 0.47%
2002 -8.79% -1.18%
2001 -4% -0.34%
2000 -3.04% -3.55%
1999 -5.27% -2.64%
1998 -7.41% -1.52%
1997 -5.54% -7.47%
1996 -4.36% -7.42%
1995 -8.57% -2.58%
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/moldova | 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 Moldova's deficit of $788M, or 3.87% of GDP.

Over the past 31 years, Hungary recorded a fiscal deficit in 31 of those years, while Moldova ran a deficit in 27 years. On average, Hungary posted an annual deficit equal to 5.04% of GDP, compared to deficit of 2.31% of GDP for Moldova.

Inflation comparison by year

Inflation
Hungary

Moldova
1x
Year Consumer prices inflation
Hungary Moldova
2025 4.41% 7.76%
2024 3.7% 4.68%
2023 17.1% 13.4%
2022 14.6% 28.7%
2021 5.11% 5.11%
2020 3.33% 3.77%
2019 3.34% 4.84%
2018 2.85% 3.05%
2017 2.35% 6.57%
2016 0.39% 6.36%
2015 -0.06% 9.68%
2014 -0.23% 5.09%
2013 1.73% 4.6%
2012 5.65% 4.55%
2011 3.93% 7.69%
2010 4.86% 7.48%
2009 4.21% -0.06%
2008 6.04% 12.8%
2007 7.96% 12.4%
2006 3.93% 12.8%
2005 3.56% 12%
2004 6.74% 12.5%
2003 4.66% 11.7%
2002 5.27% 5.3%
2001 9.12% 9.76%
2000 9.8% 31.3%
1999 10% 39.3%
1998 14.2% 7.7%
1997 18.3% 11.8%

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

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

Over the past 29 years, Hungary has recorded an average annual inflation rate of 6.1%, compared with 10.4% in Moldova. In 2025, inflation was 4.41% in Hungary and 7.76% in Moldova.

Top exports between countries

Hungary
Export category Export value
Machinery & equipment $47.6M
Chemicals & pharma $41.4M
Animal & marine products $35.1M
Processed food, beverages & tobacco $17.1M
Textiles & consumer goods $16.2M
Raw materials & minerals $6.5M
Wood & paper products $3.96M
Metals $3M
Raw agricultural goods $2.49M
Miscellaneous $362K
Moldova
Export category Export value
Textiles & consumer goods $10.1M
Processed food, beverages & tobacco $9.45M
Machinery & equipment $9.27M
Raw agricultural goods $3.26M
Chemicals & pharma $608K
Wood & paper products $580K
Animal & marine products $222K
Metals $204K
Raw materials & minerals $12K
Precious metals & jewellery $2K

Balance of trade

Hungary Moldova
Current account balance
$4.08B
2025
-$4B
2025
Current account balance ranking
34/190
2025
158/190
2025
Current account balance, % of GDP
+1.65%
2025
-19.6%
2025
Goods imports
$139B
2025
$10.1B
2025
Goods exports
$136B
2025
$3.23B
2025
Service imports
$29.8B
2025
$2.17B
2025
Service exports
$43.1B
2025
$3.22B
2025
Imports of goods and services, % of GDP
68.1%
2025
60.9%
2025
Exports of goods and services, % of GDP
72.6%
2025
31.8%
2025

Economic freedom indices

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

Hungary Moldova
Economic freedom 62.5 58.1
Economic freedom ranking 86/197 112/197
Property rights 67.3 40.4
Government integrity 44 45.1
Judicial effectiveness 61.9 32.4
Tax burden 85.1 87.9
Government spending 30.2 57.2
Fiscal health 32.7 70.3
Business freedom 70.8 68.3
Labor freedom 56.5 48.1
Monetary freedom 72.1 66
Trade freedom 79.4 76.8
Investment freedom 80 55
Financial freedom 70 50

Economic freedom comparison by year

Hungary
Moldova
1x
Year Economic freedom index
Hungary Moldova
2026 62.5 58.1
2025 61.4 58.3
2024 61.2 57.1
2023 64.1 58.5
2022 66.9 61.3
2021 67.2 62.5
2020 66.4 62
2019 65 59.1
2018 66.7 58.4
2017 65.8 58
2016 66 57.4
2015 66.8 57.5
2014 67 57.3
2013 67.3 55.5
2012 67.1 54.4
2011 66.6 55.7
2010 66.1 53.7
2009 66.8 54.9
2008 67.6 57.9
2007 64.8 58.7
2006 65 58
2005 63.5 57.4
2004 62.7 57.1
2003 63 60
2002 64.5 57.4
2001 65.6 54.9
2000 64.4 59.6
1999 59.6 56.1
1998 56.9 53.5
1997 55.3 48.9
1996 56.8 52.5
1995 55.2 33

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

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

The Economic Freedom Index for Hungary is 62.5, ranking 86/197, compared to 58.1 for Moldova, ranking 112/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Hungary Moldova
Services, % of GDP
60.1%
2025
61.5%
2025
Industry, % of GDP
23%
2025
16.9%
2025
Agriculture, forestry, and fishing, % of GDP
2.65%
2025
7.38%
2025
GNI, Atlas method
$227B
2025
$19B
2025
GNI per capita, PPP
$48,630
2025
$19,990
2025
Total reserves including gold
$59.1B
2025
$6.01B
2025
Total reserves ranking
42/177
2025
97/177
2025
Net foreign direct investment
$9.1B
2025
-$360M
2025
Net inflows of foreign direct investment
-$61.3B
2024
$458M
2024
Net outflows of foreign direct investment
-$76.3B
2024
$98.4M
2024
Servicing debt to the IMF, % of GNI n/a
6.22%
2024
Poverty at national poverty lines
12.1%
2021
31.6%
2023
Gross capital formation, % of GDP
22.2%
2025
24.2%
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/moldova | 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 (2023–2025, 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.