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Economy of Hungary vs Nigeria compared: GDP & Debt

Updated on by Georank

Hungary has a GDP of $246B compared to $291B for Nigeria, ranking 55/197 and 50/197 by economy size, respectively.

Hungary has $185B in government debt (75.2% of GDP), compared to $103B (35.5% of GDP) in Nigeria.

Hungary vs Nigeria GDP by year

Hungary
Nigeria
1x
Year GDP, current $
Hungary Nigeria
2025 $246,490,213,513 $290,794,361,542
2024 $222,848,211,034 $252,261,880,140
2023 $213,029,511,029 $487,387,801,878
2022 $177,002,580,544 $646,950,257,575
2021 $183,282,685,440 $609,147,716,965
2020 $158,468,487,754 $598,586,817,817
2019 $164,936,682,034 $668,219,992,687
2018 $161,184,691,014 $421,739,251,509
2017 $143,335,098,992 $375,745,731,053
2016 $128,983,560,865 $404,649,125,252
2015 $125,244,126,623 $493,026,682,801
2014 $141,128,696,412 $574,183,763,412
2013 $135,646,053,779 $520,117,180,314
2012 $128,470,269,690 $463,971,018,239
2011 $141,712,804,954 $414,466,676,831
2010 $131,898,737,241 $366,990,417,129
2009 $130,807,441,076 $295,008,835,381
2008 $158,228,265,916 $339,476,276,258
2007 $140,123,326,896 $278,260,846,800
2006 $115,604,111,412 $238,454,997,161
2005 $113,098,237,571 $175,670,569,969
2004 $104,015,363,080 $135,764,731,646
2003 $85,190,469,121 $104,738,954,264
2002 $67,636,468,625 $95,054,059,303
2001 $53,800,068,066 $73,557,840,064
2000 $47,275,954,429 $69,171,451,627
1999 $49,160,204,397 $59,145,077,039
1998 $48,784,412,624 $218,416,200,673
1997 $47,398,564,799 $200,850,397,618
1996 $46,833,767,124 $185,730,236,700
1995 $46,577,614,589 $140,919,776,986
1994 $43,307,949,890 $80,399,613,064
1993 $40,256,233,360 $56,721,051,402
1992 $38,857,339,125 $52,058,181,854
1991 $34,867,307,353 $59,526,833,412
1990 $34,478,360,679 $54,035,795,388
1989 $30,422,508,938 $44,003,061,108
1988 $29,799,838,597 $49,648,470,440
1987 $27,232,016,527 $52,676,041,931
1986 $24,778,163,812 $54,805,852,581
1985 $21,510,643,750 $73,745,821,158
1984 $21,242,726,264 $73,484,359,521
1983 $21,910,365,258 $97,094,911,792
1982 $24,141,667,188 $142,769,363,314
1981 $23,705,883,892 $164,475,209,516
1980 $23,116,977,148 $64,201,788,123
1979 $19,959,731,325 $47,259,911,894
1978 $17,286,744,154 $36,527,862,209
1977 $14,783,674,055 $36,035,407,725
1976 $13,235,612,079 $36,308,883,249
1975 $11,420,392,515 $27,778,934,625
1974 $10,016,338,179 $24,846,641,318
1973 $9,138,292,402 $15,162,871,287
1972 $7,379,313,742 $12,274,416,018
1971 $6,291,568,221 $9,181,769,912
1970 $5,780,929,203 $12,546,094,982
1969 $5,429,812,387 $6,634,317,346
1968 $4,886,222,555 $5,200,997,920
1967 - $5,203,237,919
1966 - $6,366,917,453
1965 - $5,874,537,650
1964 - $5,552,931,319
1963 - $5,165,590,254
1962 - $4,909,399,176
1961 - $4,467,287,893
1960 - $4,196,174,502

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

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

GDP per capita in Hungary vs Nigeria by year

Hungary
GDP per capita

GDP per capita, PPP
Nigeria
GDP per capita

GDP per capita, PPP
1x
Year Current $
Hungary Nigeria
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $25,907 - $1,224 -
2024 $23,305 $48,552 $1,084 $9,087
2023 $22,209 $46,592 $2,139 $8,705
2022 $18,428 $44,366 $2,899 $8,305
2021 $19,031 $38,887 $2,787 $7,588
2020 $16,387 $35,584 $2,797 $7,415
2019 $17,013 $35,627 $3,190 $7,551
2018 $16,605 $32,258 $2,058 $7,158
2017 $14,736 $29,728 $1,876 $7,037
2016 $13,216 $28,179 $2,070 $7,072
2015 $12,783 $26,938 $2,586 $7,308
2014 $14,353 $25,796 $3,089 $7,396
2013 $13,739 $24,592 $2,873 $7,004
2012 $12,950 $23,205 $2,633 $6,671
2011 $14,211 $22,992 $2,418 $6,585
2010 $13,190 $21,691 $2,202 $6,301
2009 $13,051 $20,691 $1,820 $5,927
2008 $15,763 $20,709 $2,154 $5,607
2007 $13,935 $19,089 $1,816 $5,298
2006 $11,478 $18,362 $1,600 $4,975
2005 $11,212 $17,091 $1,211 $4,678
2004 $10,291 $16,251 $962 $4,381
2003 $8,410 $15,460 $763 $4,015
2002 $6,658 $14,532 $712 $3,770
2001 $5,281 $13,223 $566 $3,309
2000 $4,630 $11,872 $547 $3,139
1999 $4,802 $10,892 $481 $3,002
1998 $4,752 $10,415 $1,822 $3,022
1997 $4,606 $9,846 $1,720 $2,990
1996 $4,542 $9,388 $1,633 $2,931
1995 $4,509 $9,222 $1,272 $2,835
1994 $4,187 $8,888 $745 $2,853
1993 $3,887 $8,441 $540 $2,921
1992 $3,747 $8,284 $509 $2,991
1991 $3,361 $8,352 $597 $2,870
1990 $3,324 $9,169 $556 $2,840
1989 $2,902 - $465 -
1988 $2,812 - $540 -
1987 $2,566 - $588 -
1986 $2,331 - $628 -
1985 $2,020 - $869 -
1984 $1,991 - $890 -
1983 $2,050 - $1,207 -
1982 $2,255 - $1,822 -
1981 $2,213 - $2,162 -
1980 $2,158 - $870 -
1979 $1,865 - $661 -
1978 $1,618 - $527 -
1977 $1,388 - $536 -
1976 $1,249 - $556 -
1975 $1,083 - $438 -
1974 $956 - $403 -
1973 $876 - $252.4 -
1972 $710 - $209.5 -
1971 $607 - $160.5 -
1970 $559 - $224.5 -
1969 $527 - $121.4 -
1968 $476 - $97.3 -
1967 - - $99.5 -
1966 - - $124.4 -
1965 - - $117.3 -
1964 - - $113.3 -
1963 - - $107.7 -
1962 - - $104.5 -
1961 - - $97.1 -
1960 - - $93.1 -

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

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

Hungary's GDP per capita is $25,907, ranking 52/197, compared to $1,224 in Nigeria, ranking 172/197. Adjusted for purchasing power (GDP per capita PPP), Hungary ranks 48th at $48,552, while Nigeria ranks 136th at $9,087.

Economic indicators

Hungary Nigeria
Gross domestic product
$246B
2025
$291B
2025
GDP rank
55/197
2025
50/197
2025
GDP growth
0.51%
2024-2025
4.01%
2024-2025
GDP per capita
$25,907
2025
$1,224
2025
GDP per capita rank
52/197
2025
172/197
2025
GDP per capita, PPP
$48,552
2024
$9,087
2024
GDP per capita PPP rank
48/197
2024
136/197
2024
Government debt
$185B
2025
$103B
2025
Debt-to-GDP ratio
75.2%
2025
35.5%
2025
Government debt per person
$19,473
2025
$434
2025
Government debt per person rank
33/185
2025
170/185
2025
Average annual personal income after taxes
$18,331
2026
$768
2026
Market capitalization of domestic companies
$62.6B
2025
$86.9B
2025
Number of millionaires
27,000
2026
n/a
Number of billionaires
4
2026
4
2026
Income share by richest 10%
24.4%
2022
26.3%
2022
Income share by poorest 10%
2.8%
2022
3%
2022
Government expenditure, % of GDP
47.5%
2025
11.7%
2025
Consumer prices inflation
4.41%
2024-2025
23%
2024-2025
Central bank interest rate
6.25%
2026
26.5%
2026
Unemployment rate
4.4%
2025
3.45%
2024
Population
9454659
245016045

Spending and national debt comparison by year

Hungary
Spending

Debt
Nigeria
Spending

Debt
1x
Year % of GDP
Hungary Nigeria
Government spending Government debt Government spending Government debt
2025 47.5% 75.2% 11.7% 35.5%
2024 46.9% 73.5% 12% 39.3%
2023 49.3% 73.2% 10.4% 36.3%
2022 48.9% 74.1% 10.6% 29.8%
2021 48.1% 76.2% 9.09% 26.6%
2020 51% 78.7% 8.73% 25.7%
2019 45.8% 65% 8.87% 21.4%
2018 45.9% 68.8% 9.1% 20.4%
2017 46.6% 72% 8.51% 18%
2016 46.7% 74.6% 6.93% 17.4%
2015 50.4% 75.7% 7.85% 14.9%
2014 50% 76.5% 9.49% 15.8%
2013 50.1% 77.2% 10% 13%
2012 49.2% 78.4% 10.5% 12.5%
2011 49.1% 80.5% 12.3% 12.4%
2010 48.9% 80.2% 11.8% 6.67%
2009 50.7% 78.2% 11% 6.12%
2008 48.8% 71.8% 10.2% 5.17%
2007 49.9% 65.6% 12.9% 5.76%
2006 51.4% 64.5% 8.75% 6.68%
2005 49.4% 60.6% 12.6% 13.4%
2004 48.8% 58.9% 13% 25.2%
2003 49.2% 58.2% 16.5% 29.9%
2002 51% 55.6% 13.8% 30.7%
2001 47.2% 52.2% 21.9% 37.7%
2000 47.3% 55.6% 17.6% 40.9%
1999 48.9% 60.3% 14.9% 46.1%
1998 50.7% 60.4% 11.2% 15.8%
1997 49.5% 62.2% 9.68% 17.1%
1996 50.9% 71.2% 7.87% 17.9%
1995 55% 83.9% 8.87% 24.2%
1994 - 86.2% 12.1% 39.7%
1993 - 87.2% 20% 50.4%
1992 - 76.5% 15.9% 49.8%
1991 - 74.2% 13.6% 53.2%
1990 - 63.7% 14.2% 50.9%
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/nigeria | CC BY

In 2025, Hungary's government spending was $117B, accounting for 47.5% of its GDP, while Nigeria spent $34.1B, or 11.7% of GDP.

Debt-to-GDP ratio is 75.2% in Hungary and 35.5% in Nigeria, ranking 50/185 and 143/185, respectively.

Government deficit by year

Deficit/surplus
Hungary

Nigeria
1x
Year Deficit/surplus, % of GDP
Hungary Nigeria
2025 -4.68% -1.76%
2024 -4.9% -1.27%
2023 -6.77% -3.12%
2022 -6.19% -4%
2021 -7.11% -3.97%
2020 -7.49% -4.03%
2019 -2.02% -3.31%
2018 -2.05% -3.06%
2017 -2.45% -3.85%
2016 -1.79% -3.3%
2015 -2% -2.7%
2014 -2.77% -1.72%
2013 -2.6% -1.89%
2012 -2.33% -0.09%
2011 -5.22% 0.31%
2010 -4.44% -2.96%
2009 -4.76% -3.78%
2008 -3.78% 4.05%
2007 -5.09% -0.79%
2006 -9.27% 6.22%
2005 -7.79% 3.49%
2004 -6.6% 3.9%
2003 -7.19% -1.56%
2002 -8.79% 0.95%
2001 -4% -2.29%
2000 -3.04% 2.89%
1999 -5.27% -1.39%
1998 -7.41% -3.47%
1997 -5.54% 1.14%
1996 -4.36% 3.37%
1995 -8.57% 2.52%
1994 - -2.96%
1993 - -6.07%
1992 - 0.94%
1991 - -1.18%
1990 - -0.48%
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/nigeria | 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 Nigeria's deficit of $5.12B, or 1.76% of GDP.

Over the past 31 years, Hungary recorded a fiscal deficit in 31 of those years, while Nigeria ran a deficit in 21 years. On average, Hungary posted an annual deficit equal to 5.04% of GDP, compared to deficit of 0.82% of GDP for Nigeria.

Inflation comparison by year

Inflation
Hungary

Nigeria
1x
Year Consumer prices inflation
Hungary Nigeria
2025 4.41% 23%
2024 3.7% 33.2%
2023 17.1% 24.7%
2022 14.6% 18.8%
2021 5.11% 17%
2020 3.33% 13.2%
2019 3.34% 11.4%
2018 2.85% 12.1%
2017 2.35% 16.5%
2016 0.39% 15.7%
2015 -0.06% 9.01%
2014 -0.23% 8.05%
2013 1.73% 8.5%
2012 5.65% 12.2%
2011 3.93% 10.8%
2010 4.86% 13.7%
2009 4.21% 12.5%
2008 6.04% 11.6%
2007 7.96% 5.39%
2006 3.93% 8.23%
2005 3.56% 17.9%
2004 6.74% 15%
2003 4.66% 14%
2002 5.27% 12.9%
2001 9.12% 18.9%
2000 9.8% 6.93%
1999 10% 6.62%
1998 14.2% 10%
1997 18.3% 8.53%

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

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

Over the past 29 years, Hungary has recorded an average annual inflation rate of 6.1%, compared with 13.7% in Nigeria. In 2025, inflation was 4.41% in Hungary and 23% in Nigeria.

Top exports between countries

Hungary
Export category Export value
Transport & tourism services $18.8M
Chemicals & pharma $4.75M
Machinery & equipment $4.27M
Processed food, beverages & tobacco $3.96M
Textiles & consumer goods $1.35M
Raw materials & minerals $804K
Government & miscellaneous services $796K
Business & finance services $639K
IT & IP services $514K
Wood & paper products $111K
Nigeria
Export category Export value
Raw agricultural goods $23K
Animal & marine products $4K

Balance of trade

Hungary Nigeria
Current account balance
$4.08B
2025
$14B
2025
Current account balance ranking
34/190
2025
21/190
2025
Current account balance, % of GDP
+1.65%
2025
+4.83%
2025
Goods imports
$139B
2025
$43B
2025
Goods exports
$136B
2025
$57.5B
2025
Service imports
$29.8B
2025
$19.6B
2025
Service exports
$43.1B
2025
$5.06B
2025
Imports of goods and services, % of GDP
68.1%
2025
16.9%
1960
Exports of goods and services, % of GDP
72.6%
2025
9.24%
1960

Economic freedom indices

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

Hungary Nigeria
Economic freedom 62.5 54.8
Economic freedom ranking 86/197 132/197
Property rights 67.3 29.7
Government integrity 44 23.5
Judicial effectiveness 61.9 34.4
Tax burden 85.1 84.6
Government spending 30.2 96.3
Fiscal health 32.7 83.5
Business freedom 70.8 50.3
Labor freedom 56.5 75.4
Monetary freedom 72.1 56.1
Trade freedom 79.4 64.4
Investment freedom 80 30
Financial freedom 70 30

Economic freedom comparison by year

Hungary
Nigeria
1x
Year Economic freedom index
Hungary Nigeria
2026 62.5 54.8
2025 61.4 53.4
2024 61.2 53.1
2023 64.1 53.9
2022 66.9 54.4
2021 67.2 58.7
2020 66.4 57.2
2019 65 57.3
2018 66.7 58.5
2017 65.8 57.1
2016 66 57.5
2015 66.8 55.6
2014 67 54.3
2013 67.3 55.1
2012 67.1 56.3
2011 66.6 56.7
2010 66.1 56.8
2009 66.8 55.1
2008 67.6 55.1
2007 64.8 55.6
2006 65 48.7
2005 63.5 48.4
2004 62.7 49.2
2003 63 49.5
2002 64.5 50.9
2001 65.6 49.6
2000 64.4 53.1
1999 59.6 55.7
1998 56.9 52.3
1997 55.3 52.8
1996 56.8 47.4
1995 55.2 47.3

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

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

The Economic Freedom Index for Hungary is 62.5, ranking 86/197, compared to 54.8 for Nigeria, ranking 132/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Hungary Nigeria
Services, % of GDP
60.1%
2025
58.2%
2025
Industry, % of GDP
23%
2025
16.4%
2025
Agriculture, forestry, and fishing, % of GDP
2.65%
2025
23%
2025
GNI, Atlas method
$227B
2025
$324B
2025
GNI per capita, PPP
$48,630
2025
$9,230
2025
Total reserves including gold
$59.1B
2025
$46B
2025
Total reserves ranking
42/177
2025
52/177
2025
Net foreign direct investment
$9.1B
2025
-$2.82B
2025
Net inflows of foreign direct investment
-$61.3B
2024
$1.61B
2024
Net outflows of foreign direct investment
-$76.3B
2024
$408M
2024
Servicing debt to the IMF, % of GNI n/a
5.46%
2024
Poverty at national poverty lines
12.1%
2021
56.2%
2023
Gross capital formation, % of GDP
22.2%
2025
n/a

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/nigeria | 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 (2012–2025, 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.