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Economy of Hungary vs Nepal compared: GDP & Debt

Updated on by Georank team

Hungary has a GDP of $223B compared to $42.9B for Nepal, ranking 55/197 and 101/197 by economy size, respectively.

Hungary has $164B in government debt (73.5% of GDP), compared to $20.7B (48.3% of GDP) in Nepal.

Hungary vs Nepal GDP by year

Hungary
Nepal
1x
Year GDP, current $
Hungary Nepal
2024 $222,722,738,926 $42,914,268,287
2023 $213,240,316,635 $41,047,772,331
2022 $177,002,580,544 $41,182,939,601
2021 $183,282,685,440 $36,924,841,394
2020 $158,468,487,754 $33,433,659,301
2019 $164,936,682,034 $34,186,180,699
2018 $161,184,691,014 $33,111,525,237
2017 $143,335,098,992 $28,971,588,940
2016 $128,983,560,865 $24,524,109,484
2015 $125,244,126,623 $24,360,801,287
2014 $141,128,696,412 $22,731,612,922
2013 $135,646,053,779 $22,162,204,925
2012 $128,470,269,690 $21,703,100,877
2011 $141,712,804,954 $21,573,872,421
2010 $131,898,737,241 $16,002,656,434
2009 $130,807,441,076 $12,854,985,464
2008 $158,228,265,916 $12,545,438,605
2007 $140,123,326,896 $10,325,618,017
2006 $115,604,111,412 $9,043,715,356
2005 $113,098,237,571 $8,130,258,378
2004 $104,015,363,080 $7,273,938,315
2003 $85,190,469,121 $6,330,473,097
2002 $67,636,468,625 $6,050,875,807
2001 $53,800,068,066 $6,007,055,042
2000 $47,275,954,429 $5,494,252,208
1999 $49,160,204,397 $5,033,642,384
1998 $48,784,412,624 $4,856,255,044
1997 $47,398,564,799 $4,918,691,917
1996 $46,833,767,124 $4,521,580,381
1995 $46,577,614,589 $4,401,104,418
1994 $43,307,949,890 $4,066,775,510
1993 $40,256,233,360 $3,660,041,667
1992 $38,857,339,125 $3,401,211,581
1991 $34,867,307,353 $3,921,476,085
1990 $34,478,360,679 $3,627,560,239
1989 $30,422,508,938 $3,525,225,787
1988 $29,799,838,597 $3,487,009,748
1987 $27,232,016,527 $2,957,255,380
1986 $24,778,163,812 $2,850,782,044
1985 $21,510,643,750 $2,619,913,956
1984 $21,242,726,264 $2,581,207,388
1983 $21,910,365,258 $2,447,174,803
1982 $24,141,667,188 $2,395,423,742
1981 $23,705,883,892 $2,275,583,317
1980 $23,116,977,148 $1,945,916,583
1979 $19,959,731,325 $1,851,250,008
1978 $17,286,744,154 $1,604,162,497
1977 $14,783,674,055 $1,382,400,000
1976 $13,235,612,079 $1,452,788,985
1975 $11,420,392,515 $1,575,789,254
1974 $10,016,338,179 $1,217,953,547
1973 $9,138,292,402 $972,101,725
1972 $7,379,313,742 $1,024,098,400
1971 $6,291,568,221 $882,765,472
1970 $5,780,929,203 $865,975,309
1969 $5,429,812,387 $788,641,965
1968 $4,886,222,555 $772,231,387
1967 - $841,974,025
1966 - $906,811,944
1965 - $735,267,082
1964 - $496,098,775
1963 - $496,947,904
1962 - $574,091,101
1961 - $531,959,562
1960 - $508,334,414

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

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

GDP per capita in Hungary vs Nepal by year

Hungary
GDP per capita

GDP per capita, PPP
Nepal
GDP per capita

GDP per capita, PPP
1x
Year Current $
Hungary Nepal
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $23,292 $48,552 $1,447 $5,737
2023 $22,231 $46,592 $1,382 $5,395
2022 $18,428 $44,366 $1,386 $5,103
2021 $19,031 $38,887 $1,253 $4,546
2020 $16,387 $35,584 $1,154 $4,236
2019 $17,013 $35,627 $1,203 $4,261
2018 $16,605 $32,258 $1,179 $3,956
2017 $14,736 $29,728 $1,034 $3,605
2016 $13,216 $28,179 $877 $2,976
2015 $12,783 $26,938 $876 $2,957
2014 $14,353 $25,796 $821 $2,901
2013 $13,739 $24,592 $803 $2,658
2012 $12,950 $23,205 $788 $2,466
2011 $14,211 $22,992 $786 $2,248
2010 $13,190 $21,691 $585 $2,139
2009 $13,051 $20,691 $473 $2,029
2008 $15,763 $20,709 $465 $1,942
2007 $13,935 $19,089 $385 $1,809
2006 $11,478 $18,362 $340 $1,718
2005 $11,212 $17,091 $309 $1,628
2004 $10,291 $16,251 $279.6 $1,542
2003 $8,410 $15,460 $246.4 $1,453
2002 $6,658 $14,532 $238.9 $1,390
2001 $5,281 $13,223 $240.8 $1,388
2000 $4,630 $11,872 $223.8 $1,317
1999 $4,802 $10,892 $208.6 $1,234
1998 $4,752 $10,415 $205.1 $1,187
1997 $4,606 $9,846 $211.8 $1,162
1996 $4,542 $9,388 $198.8 $1,110
1995 $4,509 $9,222 $197.8 $1,058
1994 $4,187 $8,888 $187.3 $1,026
1993 $3,887 $8,441 $172.8 $952
1992 $3,747 $8,284 $165 $920
1991 $3,361 $8,352 $195.7 $889
1990 $3,324 $9,169 $185.8 $830
1989 $2,902 - $185 -
1988 $2,812 - $187.1 -
1987 $2,566 - $162 -
1986 $2,331 - $159.5 -
1985 $2,020 - $149.9 -
1984 $1,991 - $151.1 -
1983 $2,050 - $146.6 -
1982 $2,255 - $147 -
1981 $2,213 - $142.9 -
1980 $2,158 - $125.1 -
1979 $1,865 - $121.9 -
1978 $1,618 - $108.1 -
1977 $1,388 - $95.3 -
1976 $1,249 - $102.5 -
1975 $1,083 - $113.6 -
1974 $956 - $89.8 -
1973 $876 - $73.2 -
1972 $710 - $78.8 -
1971 $607 - $69.5 -
1970 $559 - $69.6 -
1969 $527 - $64.8 -
1968 $476 - $64.9 -
1967 - - $72.3 -
1966 - - $79.5 -
1965 - - $65.8 -
1964 - - $45.3 -
1963 - - $46.3 -
1962 - - $54.6 -
1961 - - $51.6 -
1960 - - $50.2 -

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

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

Hungary's GDP per capita is $23,292, ranking 55/197, compared to $1,447 in Nepal, ranking 164/197. Adjusted for purchasing power (GDP per capita PPP), Hungary ranks 48th at $48,552, while Nepal ranks 155th at $5,737.

Economic indicators

Hungary Nepal
Gross domestic product
$223B
2024
$42.9B
2024
GDP rank
55/197
2024
101/197
2024
GDP growth
0.56%
2023-2024
3.67%
2023-2024
GDP per capita
$23,292
2024
$1,447
2024
GDP per capita rank
55/197
2024
164/197
2024
GDP per capita, PPP
$48,552
2024
$5,737
2024
GDP per capita PPP rank
48/197
2024
155/197
2024
Government debt
$164B
2024
$20.7B
2024
Debt-to-GDP ratio
73.5%
2024
48.3%
2024
Government debt per person
$17,109
2024
$700
2024
Government debt per person rank
37/185
2024
154/185
2024
Average annual personal income after taxes
$16,996
2026
$2,170
2026
Market capitalization of domestic companies
$41.5B
2024
n/a
Number of millionaires
24,692
2025
n/a
Number of billionaires
4
2025
2
2025
Income share by richest 10%
24.4%
2022
24.2%
2022
Income share by poorest 10%
2.8%
2022
3.7%
2022
Government expenditure, % of GDP
46.9%
2024
22.1%
2024
Consumer prices inflation
3.7%
2023-2024
4.69%
2023-2024
Central bank interest rate
6.5%
2024
n/a
Unemployment rate
4.47%
2024
10.7%
2017
Population
9475525
29596762

Spending and national debt comparison by year

Hungary
Spending

Debt
Nepal
Spending

Debt
1x
Year % of GDP
Hungary Nepal
Government spending Government debt Government spending Government debt
2024 46.9% 73.5% 22.1% 48.3%
2023 49.2% 73% 25.1% 47%
2022 48.7% 73.9% 26.1% 42.7%
2021 48.1% 76.2% 27.2% 43.3%
2020 51% 78.7% 28.5% 43.3%
2019 45.8% 65% 27.1% 34%
2018 45.9% 68.8% 28% 31.1%
2017 46.6% 72% 23.6% 25%
2016 46.7% 74.6% 19% 25%
2015 50.4% 75.7% 17.7% 25.7%
2014 50% 76.5% 16.6% 27.6%
2013 50.1% 77.2% 15.5% 31.9%
2012 49.2% 78.4% 16.8% 34.5%
2011 49.1% 80.5% 16.3% 32.4%
2010 48.9% 80.2% 16.5% 35.4%
2009 50.7% 78.2% 17% 39.5%
2008 48.8% 71.8% 13.4% 36.8%
2007 49.9% 65.6% 13.1% 37.9%
2006 51.4% 64.5% 11.2% 42.9%
2005 49.4% 60.6% 12% 45.1%
2004 48.8% 58.9% 11.8% 51.3%
2003 49.2% 58.2% 12% 53%
2002 51% 55.6% 13% 51.8%
2001 47.2% 52.2% 12.9% 50.8%
2000 47.3% 55.6% 11.4% 50.8%
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/nepal | CC BY

In 2024, Hungary's government spending was $104B, accounting for 46.9% of its GDP, while Nepal spent $9.5B, or 22.1% of GDP.

Debt-to-GDP ratio is 73.5% in Hungary and 48.3% in Nepal, ranking 49/185 and 112/185, respectively.

Government deficit by year

Deficit/surplus
Hungary

Nepal
1x
Year Deficit/surplus, % of GDP
Hungary Nepal
2024 -4.92% -2.76%
2023 -6.75% -5.81%
2022 -6.17% -3.12%
2021 -7.11% -3.98%
2020 -7.49% -7.47%
2019 -2.02% -4.27%
2018 -2.05% -5.83%
2017 -2.45% -2.69%
2016 -1.79% 1.2%
2015 -2% 0.46%
2014 -2.77% 1.36%
2013 -2.6% 1.57%
2012 -2.33% -1.18%
2011 -5.22% -0.72%
2010 -4.44% -0.67%
2009 -4.76% -2.24%
2008 -3.78% -0.29%
2007 -5.09% -0.67%
2006 -9.27% 0.24%
2005 -7.79% 0.24%
2004 -6.6% -0.14%
2003 -7.19% -0.34%
2002 -8.79% -2.46%
2001 -4% -2.35%
2000 -3.04% -1.48%
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/nepal | 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 Nepal's deficit of $1.19B, or 2.76% of GDP.

Over the past 25 years, Hungary recorded a fiscal deficit in 25 of those years, while Nepal ran a deficit in 19 years. On average, Hungary posted an annual deficit equal to 4.82% of GDP, compared to deficit of 1.74% of GDP for Nepal.

Inflation comparison by year

Inflation
Hungary

Nepal
1x
Year Consumer prices inflation
Hungary Nepal
2024 3.7% 4.69%
2023 17.1% 7.12%
2022 14.6% 7.67%
2021 5.11% 4.13%
2020 3.33% 5.06%
2019 3.34% 5.57%
2018 2.85% 4.41%
2017 2.35% 2.78%
2016 0.39% 8.79%
2015 -0.06% 7.87%
2014 -0.23% 8.36%
2013 1.73% 9.04%
2012 5.65% 9.46%
2011 3.93% 9.23%
2010 4.86% 9.33%
2009 4.21% 11.1%
2008 6.04% 9.91%
2007 7.96% 2.27%
2006 3.93% 6.92%
2005 3.56% 6.84%
2004 6.74% 2.84%
2003 4.66% 5.71%
2002 5.27% 3.03%
2001 9.12% 2.69%
2000 9.8% 2.48%
1999 10% 7.45%
1998 14.2% 11.2%
1997 18.3% 4.01%

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

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

Over the past 28 years, Hungary has recorded an average annual inflation rate of 6.16%, compared with 6.43% in Nepal. In 2024, inflation was 3.7% in Hungary and 4.69% in Nepal.

Top exports between countries

Hungary
Export category Export value
Textiles & consumer goods $386K
Processed food, beverages & tobacco $380K
Machinery & equipment $352K
Chemicals & pharma $114K
Metals $15K
Raw materials & minerals $5K
Animal & marine products $1K
Precious metals & jewellery $1K
Nepal
Export category Export value
Textiles & consumer goods $298K
Precious metals & jewellery $163K
Raw agricultural goods $21K
Metals $17K
Wood & paper products $5K
Chemicals & pharma $3K
Raw materials & minerals $1K

Balance of trade

Hungary Nepal
Current account balance
$3.52B
2024
$1.68B
2024
Current account balance ranking
36/190
2024
50/190
2024
Current account balance, % of GDP
+1.58%
2024
+3.91%
2024
Goods imports
$130B
2024
$12.1B
2024
Goods exports
$129B
2024
$1.54B
2024
Service imports
$27.9B
2024
$2.27B
2024
Service exports
$38.9B
2024
$1.9B
2024
Imports of goods and services, % of GDP
71.1%
2024
32.9%
2024
Exports of goods and services, % of GDP
75.4%
2024
7.62%
2024

Economic freedom indices

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

Hungary Nepal
Economic freedom 62.5 52.9
Economic freedom ranking 86/197 144/197
Property rights 67.3 38.8
Government integrity 44 38.9
Judicial effectiveness 61.9 42.9
Tax burden 85.1 84.3
Government spending 30.2 82.1
Fiscal health 32.7 71
Business freedom 70.8 60.8
Labor freedom 56.5 48.2
Monetary freedom 72.1 69.4
Trade freedom 79.4 58.6
Investment freedom 80 10
Financial freedom 70 30

Economic freedom comparison by year

Hungary
Nepal
1x
Year Economic freedom index
Hungary Nepal
2026 62.5 52.9
2025 61.4 52.5
2024 61.2 52.1
2023 64.1 51.4
2022 66.9 49.7
2021 67.2 50.7
2020 66.4 54.2
2019 65 53.8
2018 66.7 54.1
2017 65.8 55.1
2016 66 50.9
2015 66.8 51.3
2014 67 50.1
2013 67.3 50.4
2012 67.1 50.2
2011 66.6 50.1
2010 66.1 52.7
2009 66.8 53.2
2008 67.6 54.1
2007 64.8 54.4
2006 65 53.7
2005 63.5 51.4
2004 62.7 51.2
2003 63 51.5
2002 64.5 52.3
2001 65.6 51.6
2000 64.4 51.3
1999 59.6 53.1
1998 56.9 53.5
1997 55.3 53.6
1996 56.8 50.3
1995 55.2 -

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

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

The Economic Freedom Index for Hungary is 62.5, ranking 86/197, compared to 52.9 for Nepal, ranking 144/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Hungary Nepal
Services, % of GDP
59.5%
2024
55.2%
2024
Industry, % of GDP
23.7%
2024
11.4%
2024
Agriculture, forestry, and fishing, % of GDP
2.71%
2024
21.9%
2024
GNI, Atlas method
$199B
2024
$43.7B
2024
GNI per capita, PPP
$47,290
2024
$5,830
2024
Total reserves including gold
$46.4B
2024
$12.5B
2023
Total reserves ranking
42/177
2024
74/177
2023
Net foreign direct investment
-$15.8B
2024
-$56.9M
2024
Net inflows of foreign direct investment
-$62.2B
2024
$56.9M
2024
Net outflows of foreign direct investment
-$78B
2024
$0
2024
Servicing debt to the IMF, % of GNI n/a
1.23%
2024
Poverty at national poverty lines
12.1%
2021
20.3%
2022
Gross capital formation, % of GDP
23.5%
2024
30.4%
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/nepal | 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 (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 (2020–2024, 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.