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Economy of Hungary vs Senegal compared: GDP & Debt

Updated on by Georank team

Hungary has a GDP of $223B compared to $32.8B for Senegal, ranking 55/197 and 109/197 by economy size, respectively.

Hungary has $164B in government debt (73.5% of GDP), compared to $42.1B (128.4% of GDP) in Senegal.

Hungary vs Senegal GDP by year

Hungary
Senegal
1x
Year GDP, current $
Hungary Senegal
2024 $222,722,738,926 $32,808,056,601
2023 $213,240,316,635 $30,696,331,296
2022 $177,002,580,544 $27,783,332,223
2021 $183,282,685,440 $27,520,784,130
2020 $158,468,487,754 $24,530,513,038
2019 $164,936,682,034 $23,403,995,992
2018 $161,184,691,014 $23,116,701,556
2017 $143,335,098,992 $20,996,562,944
2016 $128,983,560,865 $19,040,312,333
2015 $125,244,126,623 $17,774,766,696
2014 $141,128,696,412 $19,797,253,440
2013 $135,646,053,779 $18,918,667,725
2012 $128,470,269,690 $17,660,870,412
2011 $141,712,804,954 $17,814,283,639
2010 $131,898,737,241 $16,121,315,909
2009 $130,807,441,076 $16,145,867,495
2008 $158,228,265,916 $16,853,989,628
2007 $140,123,326,896 $13,994,218,413
2006 $115,604,111,412 $11,697,918,243
2005 $113,098,237,571 $11,009,033,438
2004 $104,015,363,080 $10,076,816,667
2003 $85,190,469,121 $8,768,721,563
2002 $67,636,468,625 $7,006,402,320
2001 $53,800,068,066 $6,507,824,829
2000 $47,275,954,429 $6,013,185,004
1999 $49,160,204,397 $6,592,834,933
1998 $48,784,412,624 $6,505,607,909
1997 $47,398,564,799 $6,041,478,726
1996 $46,833,767,124 $6,559,712,166
1995 $46,577,614,589 $6,326,342,633
1994 $43,307,949,890 $5,034,588,196
1993 $40,256,233,360 $7,367,986,241
1992 $38,857,339,125 $7,769,817,840
1991 $34,867,307,353 $7,255,210,470
1990 $34,478,360,679 $7,390,967,360
1989 $30,422,508,938 $6,366,039,373
1988 $29,799,838,597 $6,418,419,389
1987 $27,232,016,527 $6,487,353,103
1986 $24,778,163,812 $5,392,093,446
1985 $21,510,643,750 $3,818,944,918
1984 $21,242,726,264 $3,485,165,432
1983 $21,910,365,258 $3,569,356,125
1982 $24,141,667,188 $4,013,951,443
1981 $23,705,883,892 $4,095,892,781
1980 $23,116,977,148 $4,510,108,291
1979 $19,959,731,325 $4,084,877,823
1978 $17,286,744,154 $3,280,354,921
1977 $14,783,674,055 $2,938,046,463
1976 $13,235,612,079 $2,869,777,884
1975 $11,420,392,515 $2,830,388,405
1974 $10,016,338,179 $2,099,325,229
1973 $9,138,292,402 $1,863,398,590
1972 $7,379,313,742 $1,620,857,104
1971 $6,291,568,221 $1,339,549,033
1970 $5,780,929,203 $1,297,407,655
1969 $5,429,812,387 $1,245,234,931
1968 $4,886,222,555 $1,309,384,862
1967 - $1,246,480,766
1966 - $1,246,908,186
1965 - $1,210,058,228
1964 - $1,188,930,645
1963 - $1,122,139,862
1962 - $1,085,475,791
1961 - $1,058,975,257
1960 - $1,003,692,370

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

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

GDP per capita in Hungary vs Senegal by year

Hungary
GDP per capita

GDP per capita, PPP
Senegal
GDP per capita

GDP per capita, PPP
1x
Year Current $
Hungary Senegal
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $23,292 $48,552 $1,773 $5,071
2023 $22,231 $46,592 $1,698 $4,778
2022 $18,428 $44,366 $1,574 $4,530
2021 $19,031 $38,887 $1,598 $4,174
2020 $16,387 $35,584 $1,461 $3,753
2019 $17,013 $35,627 $1,431 $3,648
2018 $16,605 $32,258 $1,453 $3,380
2017 $14,736 $29,728 $1,357 $3,234
2016 $13,216 $28,179 $1,266 $3,101
2015 $12,783 $26,938 $1,218 $2,994
2014 $14,353 $25,796 $1,399 $2,854
2013 $13,739 $24,592 $1,380 $2,769
2012 $12,950 $23,205 $1,327 $2,764
2011 $14,211 $22,992 $1,375 $2,685
2010 $13,190 $21,691 $1,276 $2,663
2009 $13,051 $20,691 $1,309 $2,606
2008 $15,763 $20,709 $1,399 $2,581
2007 $13,935 $19,089 $1,189 $2,499
2006 $11,478 $18,362 $1,017 $2,422
2005 $11,212 $17,091 $980 $2,350
2004 $10,291 $16,251 $918 $2,236
2003 $8,410 $15,460 $818 $2,131
2002 $6,658 $14,532 $669 $2,027
2001 $5,281 $13,223 $637 $2,044
2000 $4,630 $11,872 $603 $1,963
1999 $4,802 $10,892 $678 $1,893
1998 $4,752 $10,415 $685 $1,798
1997 $4,606 $9,846 $651 $1,719
1996 $4,542 $9,388 $723 $1,679
1995 $4,509 $9,222 $715 $1,656
1994 $4,187 $8,888 $584 $1,578
1993 $3,887 $8,441 $878 $1,588
1992 $3,747 $8,284 $951 $1,573
1991 $3,361 $8,352 $913 $1,561
1990 $3,324 $9,169 $957 $1,513
1989 $2,902 - $849 -
1988 $2,812 - $880 -
1987 $2,566 - $916 -
1986 $2,331 - $784 -
1985 $2,020 - $571 -
1984 $1,991 - $536 -
1983 $2,050 - $564 -
1982 $2,255 - $652 -
1981 $2,213 - $683 -
1980 $2,158 - $772 -
1979 $1,865 - $716 -
1978 $1,618 - $589 -
1977 $1,388 - $540 -
1976 $1,249 - $541 -
1975 $1,083 - $547 -
1974 $956 - $417 -
1973 $876 - $381 -
1972 $710 - $342 -
1971 $607 - $291.1 -
1970 $559 - $290.5 -
1969 $527 - $287.3 -
1968 $476 - $311 -
1967 - - $305 -
1966 - - $315 -
1965 - - $314 -
1964 - - $318 -
1963 - - $309 -
1962 - - $307 -
1961 - - $308 -
1960 - - $300 -

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

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

Hungary's GDP per capita is $23,292, ranking 55/197, compared to $1,773 in Senegal, ranking 159/197. Adjusted for purchasing power (GDP per capita PPP), Hungary ranks 48th at $48,552, while Senegal ranks 158th at $5,071.

Economic indicators

Hungary Senegal
Gross domestic product
$223B
2024
$32.8B
2024
GDP rank
55/197
2024
109/197
2024
GDP growth
0.56%
2023-2024
6.06%
2023-2024
GDP per capita
$23,292
2024
$1,773
2024
GDP per capita rank
55/197
2024
159/197
2024
GDP per capita, PPP
$48,552
2024
$5,071
2024
GDP per capita PPP rank
48/197
2024
158/197
2024
Government debt
$164B
2024
$42.1B
2024
Debt-to-GDP ratio
73.5%
2024
128.4%
2024
Government debt per person
$17,109
2024
$2,277
2024
Government debt per person rank
37/185
2024
115/185
2024
Average annual personal income after taxes
$16,996
2026
$2,194
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
28.8%
2021
Income share by poorest 10%
2.8%
2022
3%
2021
Government expenditure, % of GDP
46.9%
2024
33.5%
2024
Consumer prices inflation
3.7%
2023-2024
0.8%
2023-2024
Central bank interest rate
6.5%
2024
n/a
Unemployment rate
4.47%
2024
5.78%
2024
Population
9475525
19491599

Spending and national debt comparison by year

Hungary
Spending

Debt
Senegal
Spending

Debt
1x
Year % of GDP
Hungary Senegal
Government spending Government debt Government spending Government debt
2024 46.9% 73.5% 33.5% 128.4%
2023 49.2% 73% 35.5% 118.4%
2022 48.7% 73.9% 36.2% 105%
2021 48.1% 76.2% 33.6% 98.6%
2020 51% 78.7% 29.6% 90.2%
2019 45.8% 65% 34.3% 81.5%
2018 45.9% 68.8% 22.6% 61.5%
2017 46.6% 72% 22.5% 61.1%
2016 46.7% 74.6% 24% 47.5%
2015 50.4% 75.7% 22.9% 44.5%
2014 50% 76.5% 23.1% 42.4%
2013 50.1% 77.2% 22.1% 36.9%
2012 49.2% 78.4% 23% 34.5%
2011 49.1% 80.5% 23.3% 32.9%
2010 48.9% 80.2% 21.7% 34.6%
2009 50.7% 78.2% 21.1% 29.9%
2008 48.8% 71.8% 20.9% 19.1%
2007 49.9% 65.6% 22.2% 19%
2006 51.4% 64.5% 21.3% 17.5%
2005 49.4% 60.6% 18.7% 36.1%
2004 48.8% 58.9% 18.1% 38%
2003 49.2% 58.2% 17.1% 42.9%
2002 51% 55.6% 15.5% 52%
2001 47.2% 52.2% 15.7% 53.2%
2000 47.3% 55.6% 14% 57.5%
1999 48.9% 60.3% 14.6% 15%
1998 50.7% 60.4% 13.5% 18.8%
1997 49.5% 62.2% 14.1% 67.8%
1996 50.9% 71.2% 15.4% 0.07%
1995 55% 83.9% 14.4% 65.3%
1994 - 86.2% 15.9% 77.3%
1993 - 87.2% - -
1992 - 76.5% - -
1991 - 74.2% - -
1990 - 63.7% - -
1989 - 70.7% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1994–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1989–1995, retrieved 2026-02-20).

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

In 2024, Hungary's government spending was $104B, accounting for 46.9% of its GDP, while Senegal spent $11B, or 33.5% of GDP.

Debt-to-GDP ratio is 73.5% in Hungary and 128.4% in Senegal, ranking 49/185 and 11/185, respectively.

Government deficit by year

Deficit/surplus
Hungary

Senegal
1x
Year Deficit/surplus, % of GDP
Hungary Senegal
2024 -4.92% -13.4%
2023 -6.75% -14.8%
2022 -6.17% -16.1%
2021 -7.11% -13.7%
2020 -7.49% -9.64%
2019 -2.02% -13.9%
2018 -2.05% -3.66%
2017 -2.45% -2.97%
2016 -1.79% -3.27%
2015 -2% -3.66%
2014 -2.77% -3.9%
2013 -2.6% -4.34%
2012 -2.33% -4.18%
2011 -5.22% -4.92%
2010 -4.44% -3.94%
2009 -4.76% -3.66%
2008 -3.78% -3.53%
2007 -5.09% -2.8%
2006 -9.27% -3.67%
2005 -7.79% -0.26%
2004 -6.6% 0.18%
2003 -7.19% -0.52%
2002 -8.79% 0.19%
2001 -4% -1.44%
2000 -3.04% 0.78%
1999 -5.27% -0.62%
1998 -7.41% 0.93%
1997 -5.54% 0.98%
1996 -4.36% 0.92%
1995 -8.57% 2.41%
1994 - 5.9%
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 (1994–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1927–1943, retrieved 2026-02-20).

GeoRank.org/economy/hungary/senegal | 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 Senegal's deficit of $4.4B, or 13.4% of GDP.

Over the past 30 years, Hungary recorded a fiscal deficit in 30 of those years, while Senegal ran a deficit in 23 years. On average, Hungary posted an annual deficit equal to 5.05% of GDP, compared to deficit of 4.22% of GDP for Senegal.

Inflation comparison by year

Inflation
Hungary

Senegal
1x
Year Consumer prices inflation
Hungary Senegal
2024 3.7% 0.8%
2023 17.1% 5.94%
2022 14.6% 9.7%
2021 5.11% 2.18%
2020 3.33% 2.54%
2019 3.34% 1.76%
2018 2.85% 0.46%
2017 2.35% 1.32%
2016 0.39% 0.84%
2015 -0.06% 0.14%
2014 -0.23% -1.09%
2013 1.73% 0.71%
2012 5.65% 1.42%
2011 3.93% 3.4%
2010 4.86% 1.23%
2009 4.21% -2.25%
2008 6.04% 7.35%
2007 7.96% 5.85%
2006 3.93% 2.11%
2005 3.56% 1.71%
2004 6.74% 0.51%
2003 4.66% -0.05%
2002 5.27% 2.34%
2001 9.12% 2.97%
2000 9.8% 0.73%
1999 10% 0.83%
1998 14.2% 1.16%
1997 18.3% 1.75%

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

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

Over the past 28 years, Hungary has recorded an average annual inflation rate of 6.16%, compared with 2.01% in Senegal. In 2024, inflation was 3.7% in Hungary and 0.8% in Senegal.

Top exports between countries

Hungary
Export category Export value
Machinery & equipment $7.44M
Textiles & consumer goods $1.99M
Chemicals & pharma $907K
Processed food, beverages & tobacco $623K
Raw materials & minerals $248K
Raw agricultural goods $15K
Animal & marine products $11K
Wood & paper products $7K
Metals $4K
Miscellaneous $3K
Senegal
Export category Export value
Machinery & equipment $123K

Balance of trade

Hungary Senegal
Current account balance
$3.52B
2024
-$6.07B
2023
Current account balance ranking
36/190
2024
170/190
2023
Current account balance, % of GDP
+1.58%
2024
-19.8%
2023
Goods imports
$130B
2024
$10.8B
2023
Goods exports
$129B
2024
$5.52B
2023
Service imports
$27.9B
2024
$4.08B
2023
Service exports
$38.9B
2024
$1.48B
2023
Imports of goods and services, % of GDP
71.1%
2024
43.4%
2024
Exports of goods and services, % of GDP
75.4%
2024
24.7%
2024

Economic freedom indices

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

Hungary Senegal
Economic freedom 62.5 53.2
Economic freedom ranking 86/197 140/197
Property rights 67.3 57.4
Government integrity 44 47.3
Judicial effectiveness 61.9 50.5
Tax burden 85.1 68.8
Government spending 30.2 63.1
Fiscal health 32.7 0
Business freedom 70.8 55.2
Labor freedom 56.5 54.4
Monetary freedom 72.1 74.3
Trade freedom 79.4 67
Investment freedom 80 60
Financial freedom 70 40

Economic freedom comparison by year

Hungary
Senegal
1x
Year Economic freedom index
Hungary Senegal
2026 62.5 53.2
2025 61.4 56.4
2024 61.2 55.4
2023 64.1 57.7
2022 66.9 60
2021 67.2 58
2020 66.4 58
2019 65 56.3
2018 66.7 55.7
2017 65.8 55.9
2016 66 58.1
2015 66.8 57.8
2014 67 55.4
2013 67.3 55.5
2012 67.1 55.4
2011 66.6 55.7
2010 66.1 54.6
2009 66.8 56.3
2008 67.6 58.3
2007 64.8 58.1
2006 65 56.2
2005 63.5 57.9
2004 62.7 58.9
2003 63 58.1
2002 64.5 58.6
2001 65.6 58.7
2000 64.4 58.9
1999 59.6 60.6
1998 56.9 59.7
1997 55.3 58.1
1996 56.8 58.2
1995 55.2 -

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

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

The Economic Freedom Index for Hungary is 62.5, ranking 86/197, compared to 53.2 for Senegal, ranking 140/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Hungary Senegal
Services, % of GDP
59.5%
2024
48.4%
2024
Industry, % of GDP
23.7%
2024
25%
2024
Agriculture, forestry, and fishing, % of GDP
2.71%
2024
16.6%
2024
GNI, Atlas method
$199B
2024
$31.1B
2024
GNI per capita, PPP
$47,290
2024
$4,920
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
-$4.72B
2023
Net inflows of foreign direct investment
-$62.2B
2024
$2.02B
2024
Net outflows of foreign direct investment
-$78B
2024
$48.1M
2024
Servicing debt to the IMF, % of GNI n/a
10.8%
2024
Poverty at national poverty lines
12.1%
2021
37.5%
2021
Gross capital formation, % of GDP
23.5%
2024
37.5%
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/senegal | 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 (1994–2024, 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 (1927–1995, 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.