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Economy of Hungary vs Morocco compared: GDP & Debt

Updated on by Georank

Hungary has a GDP of $246B compared to $182B for Morocco, ranking 55/197 and 58/197 by economy size, respectively.

Hungary has $185B in government debt (75.2% of GDP), compared to $122B (67.1% of GDP) in Morocco.

Hungary vs Morocco GDP by year

Hungary
Morocco
1x
Year GDP, current $
Hungary Morocco
2025 $246,490,213,513 $182,374,250,612
2024 $222,848,211,034 $160,610,994,055
2023 $213,029,511,029 $146,036,093,667
2022 $177,002,580,544 $131,245,312,804
2021 $183,282,685,440 $142,022,058,447
2020 $158,468,487,754 $121,353,645,057
2019 $164,936,682,034 $128,920,266,409
2018 $161,184,691,014 $127,341,147,582
2017 $143,335,098,992 $118,540,573,368
2016 $128,983,560,865 $111,572,947,005
2015 $125,244,126,623 $110,413,823,842
2014 $141,128,696,412 $119,130,841,412
2013 $135,646,053,779 $115,739,287,305
2012 $128,470,269,690 $106,937,392,311
2011 $141,712,804,954 $110,080,631,332
2010 $131,898,737,241 $100,865,329,473
2009 $130,807,441,076 $101,154,952,241
2008 $158,228,265,916 $101,822,906,949
2007 $140,123,326,896 $86,947,913,287
2006 $115,604,111,412 $75,883,823,301
2005 $113,098,237,571 $68,852,658,069
2004 $104,015,363,080 $66,114,145,451
2003 $85,190,469,121 $58,029,363,354
2002 $67,636,468,625 $47,077,192,188
2001 $53,800,068,066 $43,831,480,208
2000 $47,275,954,429 $43,017,455,402
1999 $49,160,204,397 $46,266,428,648
1998 $48,784,412,624 $46,497,608,725
1997 $47,398,564,799 $39,147,844,526
1996 $46,833,767,124 $43,161,571,528
1995 $46,577,614,589 $39,030,285,468
1994 $43,307,949,890 $35,604,137,423
1993 $40,256,233,360 $31,655,473,664
1992 $38,857,339,125 $33,711,069,431
1991 $34,867,307,353 $32,285,573,574
1990 $34,478,360,679 $30,179,954,775
1989 $30,422,508,938 $26,314,313,191
1988 $29,799,838,597 $25,705,296,184
1987 $27,232,016,527 $21,765,195,948
1986 $24,778,163,812 $19,462,085,540
1985 $21,510,643,750 $14,991,283,216
1984 $21,242,726,264 $14,824,667,954
1983 $21,910,365,258 $16,251,408,128
1982 $24,141,667,188 $17,692,276,734
1981 $23,705,883,892 $17,788,185,479
1980 $23,116,977,148 $21,728,516,153
1979 $19,959,731,325 $15,911,994,817
1978 $17,286,744,154 $13,236,946,234
1977 $14,783,674,055 $11,049,783,872
1976 $13,235,612,079 $9,584,297,284
1975 $11,420,392,515 $8,984,853,005
1974 $10,016,338,179 $7,675,466,449
1973 $9,138,292,402 $6,242,145,880
1972 $7,379,313,742 $5,074,117,545
1971 $6,291,568,221 $4,356,669,034
1970 $5,780,929,203 $3,956,336,244
1969 $5,429,812,387 $3,651,622,669
1968 $4,886,222,555 $3,271,422,333
1967 - $3,046,345,314
1966 - $2,876,401,297
1965 - $2,948,331,090
1964 - $2,798,345,299
1963 - $2,657,252,578
1962 - $2,379,611,125
1961 - $2,025,693,540
1960 - $2,037,154,742

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

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

GDP per capita in Hungary vs Morocco by year

Hungary
GDP per capita

GDP per capita, PPP
Morocco
GDP per capita

GDP per capita, PPP
1x
Year Current $
Hungary Morocco
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $25,907 - $4,746 -
2024 $23,305 $48,552 $4,218 $10,415
2023 $22,209 $46,592 $3,872 $9,895
2022 $18,428 $44,366 $3,516 $9,310
2021 $19,031 $38,887 $3,843 $8,623
2020 $16,387 $35,584 $3,317 $7,705
2019 $17,013 $35,627 $3,560 $8,046
2018 $16,605 $32,258 $3,553 $7,801
2017 $14,736 $29,728 $3,344 $8,115
2016 $13,216 $28,179 $3,186 $7,853
2015 $12,783 $26,938 $3,190 $7,799
2014 $14,353 $25,796 $3,483 $7,237
2013 $13,739 $24,592 $3,425 $7,542
2012 $12,950 $23,205 $3,206 $7,308
2011 $14,211 $22,992 $3,345 $7,274
2010 $13,190 $21,691 $3,107 $6,849
2009 $13,051 $20,691 $3,158 $6,629
2008 $15,763 $20,709 $3,222 $6,437
2007 $13,935 $19,089 $2,788 $6,058
2006 $11,478 $18,362 $2,466 $5,781
2005 $11,212 $17,091 $2,268 $5,275
2004 $10,291 $16,251 $2,207 $5,025
2003 $8,410 $15,460 $1,962 $4,741
2002 $6,658 $14,532 $1,612 $4,436
2001 $5,281 $13,223 $1,521 $4,269
2000 $4,630 $11,872 $1,513 $3,930
1999 $4,802 $10,892 $1,651 $3,801
1998 $4,752 $10,415 $1,683 $3,740
1997 $4,606 $9,846 $1,439 $3,502
1996 $4,542 $9,388 $1,610 $3,551
1995 $4,509 $9,222 $1,478 $3,152
1994 $4,187 $8,888 $1,369 $3,315
1993 $3,887 $8,441 $1,236 $2,979
1992 $3,747 $8,284 $1,337 $2,979
1991 $3,361 $8,352 $1,302 $3,025
1990 $3,324 $9,169 $1,238 $2,777
1989 $2,902 - $1,099 -
1988 $2,812 - $1,094 -
1987 $2,566 - $944 -
1986 $2,331 - $861 -
1985 $2,020 - $678 -
1984 $1,991 - $687 -
1983 $2,050 - $772 -
1982 $2,255 - $862 -
1981 $2,213 - $890 -
1980 $2,158 - $1,117 -
1979 $1,865 - $839 -
1978 $1,618 - $716 -
1977 $1,388 - $613 -
1976 $1,249 - $545 -
1975 $1,083 - $524 -
1974 $956 - $459 -
1973 $876 - $382 -
1972 $710 - $319 -
1971 $607 - $280.6 -
1970 $559 - $261.5 -
1969 $527 - $247.8 -
1968 $476 - $228 -
1967 - - $218.1 -
1966 - - $211.5 -
1965 - - $222.7 -
1964 - - $216.9 -
1963 - - $211.3 -
1962 - - $194.2 -
1961 - - $169.8 -
1960 - - $175.2 -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

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

Hungary's GDP per capita is $25,907, ranking 52/197, compared to $4,746 in Morocco, ranking 126/197. Adjusted for purchasing power (GDP per capita PPP), Hungary ranks 48th at $48,552, while Morocco ranks 132nd at $10,415.

Economic indicators

Hungary Morocco
Gross domestic product
$246B
2025
$182B
2025
GDP rank
55/197
2025
58/197
2025
GDP growth
0.51%
2024-2025
4.6%
2024-2025
GDP per capita
$25,907
2025
$4,746
2025
GDP per capita rank
52/197
2025
126/197
2025
GDP per capita, PPP
$48,552
2024
$10,415
2024
GDP per capita PPP rank
48/197
2024
132/197
2024
Government debt
$185B
2025
$122B
2025
Debt-to-GDP ratio
75.2%
2025
67.1%
2025
Government debt per person
$19,473
2025
$3,183
2025
Government debt per person rank
33/185
2025
102/185
2025
Average annual personal income after taxes
$18,331
2026
$4,045
2026
Market capitalization of domestic companies
$62.6B
2025
$114B
2025
Number of millionaires
27,000
2026
n/a
Number of billionaires
4
2026
3
2026
Income share by richest 10%
24.4%
2022
31.9%
2013
Income share by poorest 10%
2.8%
2022
2.7%
2013
Government expenditure, % of GDP
47.5%
2025
31.3%
2025
Consumer prices inflation
4.41%
2024-2025
0.7%
2024-2025
Central bank interest rate
6.25%
2026
2.25%
2025
Unemployment rate
4.4%
2025
11.8%
2022
Population
9454659
38938817

Spending and national debt comparison by year

Hungary
Spending

Debt
Morocco
Spending

Debt
1x
Year % of GDP
Hungary Morocco
Government spending Government debt Government spending Government debt
2025 47.5% 75.2% 31.3% 67.1%
2024 46.9% 73.5% 30.9% 67.7%
2023 49.3% 73.2% 30.2% 68.7%
2022 48.9% 74.1% 31.8% 71.4%
2021 48.1% 76.2% 30.1% 69.4%
2020 51% 78.7% 34.1% 72.2%
2019 45.8% 65% 27% 60.3%
2018 45.9% 68.8% 27.8% 60.5%
2017 46.6% 72% 27.9% 60.3%
2016 46.7% 74.6% 28.6% 60.1%
2015 50.4% 75.7% 28.5% 58.4%
2014 50% 76.5% 30.7% 58.6%
2013 50.1% 77.2% 30.4% 57.1%
2012 49.2% 78.4% 32.5% 52.3%
2011 49.1% 80.5% 31.2% 48.6%
2010 48.9% 80.2% 28.7% 45.3%
2009 50.7% 78.2% 28.1% 42.6%
2008 48.8% 71.8% 28.3% 42%
2007 49.9% 65.6% 26.4% 47.1%
2006 51.4% 64.5% 26% 50.6%
2005 49.4% 60.6% 28.6% 54.8%
2004 48.8% 58.9% 24.5% 54.4%
2003 49.2% 58.2% 24.1% 56.9%
2002 51% 55.6% 25.8% 59.4%
2001 47.2% 52.2% 23.7% 60.4%
2000 47.3% 55.6% 22.8% 64.9%
1999 48.9% 60.3% 18.4% 63.4%
1998 50.7% 60.4% 18.7% 64.5%
1997 49.5% 62.2% 18.6% 68%
1996 50.9% 71.2% 17.6% 65.3%
1995 55% 83.9% 21.3% 72.2%
1994 - 86.2% 21.7% 69.3%
1993 - 87.2% 23.1% 74.7%
1992 - 76.5% 22.3% 67%
1991 - 74.2% 20.8% 59.1%
1990 - 63.7% 22.6% 70.5%
1989 - 70.7% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1989–1994, retrieved 2026-07-08).

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

In 2025, Hungary's government spending was $117B, accounting for 47.5% of its GDP, while Morocco spent $57B, or 31.3% of GDP.

Debt-to-GDP ratio is 75.2% in Hungary and 67.1% in Morocco, ranking 50/185 and 64/185, respectively.

Government deficit by year

Deficit/surplus
Hungary

Morocco
1x
Year Deficit/surplus, % of GDP
Hungary Morocco
2025 -4.68% -3.54%
2024 -4.9% -3.92%
2023 -6.77% -4.41%
2022 -6.19% -5.37%
2021 -7.11% -5.92%
2020 -7.49% -7.15%
2019 -2.02% -3.8%
2018 -2.05% -3.52%
2017 -2.45% -3.3%
2016 -1.79% -4.49%
2015 -2% -4.59%
2014 -2.77% -4.78%
2013 -2.6% -4.7%
2012 -2.33% -6.63%
2011 -5.22% -6.08%
2010 -4.44% -3.93%
2009 -4.76% -1.63%
2008 -3.78% 0.63%
2007 -5.09% -0.12%
2006 -9.27% -1.8%
2005 -7.79% -5.46%
2004 -6.6% -3.31%
2003 -7.19% -3.74%
2002 -8.79% -4.37%
2001 -4% -3.79%
2000 -3.04% -1.97%
1999 -5.27% 3.21%
1998 -7.41% 1.47%
1997 -5.54% 1.5%
1996 -4.36% 0.87%
1995 -8.57% -2.54%
1994 - -2.51%
1993 - -2%
1992 - -1.84%
1991 - -0.9%
1990 - -1.32%
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 (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1927–1943, retrieved 2026-07-08).

GeoRank.org/economy/hungary/morocco | 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 Morocco's deficit of $6.46B, or 3.54% of GDP.

Over the past 31 years, Hungary recorded a fiscal deficit in 31 of those years, while Morocco ran a deficit in 26 years. On average, Hungary posted an annual deficit equal to 5.04% of GDP, compared to deficit of 3.14% of GDP for Morocco.

Inflation comparison by year

Inflation
Hungary

Morocco
1x
Year Consumer prices inflation
Hungary Morocco
2025 4.41% 0.7%
2024 3.7% 0.99%
2023 17.1% 6.09%
2022 14.6% 6.66%
2021 5.11% 1.4%
2020 3.33% 0.71%
2019 3.34% 0.3%
2018 2.85% 1.8%
2017 2.35% 0.75%
2016 0.39% 1.64%
2015 -0.06% 1.56%
2014 -0.23% 0.44%
2013 1.73% 1.88%
2012 5.65% 1.29%
2011 3.93% 0.91%
2010 4.86% 0.99%
2009 4.21% 0.97%
2008 6.04% 3.71%
2007 7.96% 2.04%
2006 3.93% 3.28%
2005 3.56% 0.98%
2004 6.74% 1.49%
2003 4.66% 1.17%
2002 5.27% 2.8%
2001 9.12% 0.62%
2000 9.8% 1.89%
1999 10% 0.68%
1998 14.2% 2.75%
1997 18.3% 1.04%

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

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

Over the past 29 years, Hungary has recorded an average annual inflation rate of 6.1%, compared with 1.78% in Morocco. In 2025, inflation was 4.41% in Hungary and 0.7% in Morocco.

Top exports between countries

Hungary
Export category Export value
Machinery & equipment $217M
Chemicals & pharma $33M
Textiles & consumer goods $26.9M
Raw materials & minerals $19.9M
Wood & paper products $13M
Processed food, beverages & tobacco $12.9M
Transport & tourism services $9.49M
Metals $4.23M
Business & finance services $3.78M
Raw agricultural goods $1.65M
Morocco
Export category Export value
Machinery & equipment $115M
Textiles & consumer goods $5.54M
Raw agricultural goods $3.87M
Chemicals & pharma $3.76M
Raw materials & minerals $684K
Processed food, beverages & tobacco $295K
Metals $27K
Precious metals & jewellery $15K
Wood & paper products $13K

Balance of trade

Hungary Morocco
Current account balance
$4.08B
2025
-$4.56B
2025
Current account balance ranking
34/190
2025
163/190
2025
Current account balance, % of GDP
+1.65%
2025
-2.5%
2025
Goods imports
$139B
2025
$77.2B
2025
Goods exports
$136B
2025
$43.7B
2025
Service imports
$29.8B
2025
$16.7B
2025
Service exports
$43.1B
2025
$33.6B
2025
Imports of goods and services, % of GDP
68.1%
2025
51.1%
2025
Exports of goods and services, % of GDP
72.6%
2025
42%
2025

Economic freedom indices

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

Hungary Morocco
Economic freedom 62.5 61.8
Economic freedom ranking 86/197 91/197
Property rights 67.3 55.2
Government integrity 44 35.6
Judicial effectiveness 61.9 32.5
Tax burden 85.1 65.5
Government spending 30.2 67.5
Fiscal health 32.7 57.5
Business freedom 70.8 72.1
Labor freedom 56.5 46.2
Monetary freedom 72.1 79.6
Trade freedom 79.4 69.8
Investment freedom 80 80
Financial freedom 70 80

Economic freedom comparison by year

Hungary
Morocco
1x
Year Economic freedom index
Hungary Morocco
2026 62.5 61.8
2025 61.4 60.3
2024 61.2 56.8
2023 64.1 58.4
2022 66.9 59.2
2021 67.2 63.3
2020 66.4 63.3
2019 65 62.9
2018 66.7 61.9
2017 65.8 61.5
2016 66 61.3
2015 66.8 60.1
2014 67 58.3
2013 67.3 59.6
2012 67.1 60.2
2011 66.6 59.6
2010 66.1 59.2
2009 66.8 57.7
2008 67.6 55.6
2007 64.8 56.4
2006 65 51.5
2005 63.5 52.2
2004 62.7 56.7
2003 63 57.8
2002 64.5 59
2001 65.6 63.9
2000 64.4 63.2
1999 59.6 63.8
1998 56.9 61.1
1997 55.3 64.7
1996 56.8 64.3
1995 55.2 62.8

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

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

The Economic Freedom Index for Hungary is 62.5, ranking 86/197, compared to 61.8 for Morocco, ranking 91/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Hungary Morocco
Services, % of GDP
60.1%
2025
52.3%
2025
Industry, % of GDP
23%
2025
25.2%
2025
Agriculture, forestry, and fishing, % of GDP
2.65%
2025
10.5%
2025
GNI, Atlas method
$227B
2025
$170B
2025
GNI per capita, PPP
$48,630
2025
$10,960
2025
Total reserves including gold
$59.1B
2025
$48.5B
2025
Total reserves ranking
42/177
2025
50/177
2025
Net foreign direct investment
$9.1B
2025
-$2.51B
2025
Net inflows of foreign direct investment
-$61.3B
2024
$1.75B
2024
Net outflows of foreign direct investment
-$76.3B
2024
$679M
2024
Servicing debt to the IMF, % of GNI n/a
5.63%
2024
Poverty at national poverty lines
12.1%
2021
3.9%
2022
Gross capital formation, % of GDP
22.2%
2025
31.9%
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/morocco | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, 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.