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Economy of Hungary vs Slovakia compared: GDP & Debt

Updated on by Georank

Hungary has a GDP of $246B compared to $155B for Slovakia, ranking 55/197 and 60/197 by economy size, respectively.

Hungary has $185B in government debt (75.2% of GDP), compared to $95.3B (61.6% of GDP) in Slovakia.

Hungary vs Slovakia GDP by year

Hungary
Slovakia
1x
Year GDP, current $
Hungary Slovakia
2025 $246,490,213,513 $154,530,066,507
2024 $222,848,211,034 $140,934,076,532
2023 $213,029,511,029 $133,578,518,424
2022 $177,002,580,544 $115,792,972,358
2021 $183,282,685,440 $120,511,265,913
2020 $158,468,487,754 $107,732,602,896
2019 $164,936,682,034 $105,843,498,304
2018 $161,184,691,014 $106,611,673,365
2017 $143,335,098,992 $95,978,130,735
2016 $128,983,560,865 $90,347,173,229
2015 $125,244,126,623 $89,178,548,717
2014 $141,128,696,412 $101,713,075,599
2013 $135,646,053,779 $99,134,277,850
2012 $128,470,269,690 $94,724,394,278
2011 $141,712,804,954 $99,705,104,723
2010 $131,898,737,241 $91,112,160,801
2009 $130,807,441,076 $89,342,984,698
2008 $158,228,265,916 $96,685,492,864
2007 $140,123,326,896 $77,019,443,089
2006 $115,604,111,412 $57,111,148,619
2005 $113,098,237,571 $48,823,790,951
2004 $104,015,363,080 $42,960,730,480
2003 $85,190,469,121 $33,761,723,946
2002 $67,636,468,625 $24,768,142,566
2001 $53,800,068,066 $21,377,597,035
2000 $47,275,954,429 $20,626,538,612
1999 $49,160,204,397 $20,813,421,086
1998 $48,784,412,624 $22,911,708,405
1997 $47,398,564,799 $22,026,728,498
1996 $46,833,767,124 $21,864,845,214
1995 $46,577,614,589 $20,306,095,054
1994 $43,307,949,890 $16,187,735,322
1993 $40,256,233,360 $13,991,963,247
1992 $38,857,339,125 $12,932,972,789
1991 $34,867,307,353 $11,952,983,608
1990 $34,478,360,679 $17,068,924,602
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/slovakia | CC BY

GDP per capita in Hungary vs Slovakia by year

Hungary
GDP per capita

GDP per capita, PPP
Slovakia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Hungary Slovakia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $25,907 - $28,544 -
2024 $23,305 $48,552 $25,993 $48,132
2023 $22,209 $46,592 $24,615 $45,974
2022 $18,428 $44,366 $21,318 $41,562
2021 $19,031 $38,887 $22,123 $38,346
2020 $16,387 $35,584 $19,735 $35,328
2019 $17,013 $35,627 $19,406 $33,986
2018 $16,605 $32,258 $19,573 $31,510
2017 $14,736 $29,728 $17,646 $30,246
2016 $13,216 $28,179 $16,636 $29,868
2015 $12,783 $26,938 $16,442 $30,148
2014 $14,353 $25,796 $18,771 $29,108
2013 $13,739 $24,592 $18,313 $28,075
2012 $12,950 $23,205 $17,517 $27,023
2011 $14,211 $22,992 $18,469 $26,202
2010 $13,190 $21,691 $16,899 $25,382
2009 $13,051 $20,691 $16,587 $23,077
2008 $15,763 $20,709 $17,974 $23,714
2007 $13,935 $19,089 $14,330 $21,232
2006 $11,478 $18,362 $10,629 $18,906
2005 $11,212 $17,091 $9,087 $16,570
2004 $10,291 $16,251 $7,997 $15,166
2003 $8,410 $15,460 $6,283 $14,088
2002 $6,658 $14,532 $4,606 $13,292
2001 $5,281 $13,223 $3,974 $12,367
2000 $4,630 $11,872 $3,828 $11,370
1999 $4,802 $10,892 $3,857 $10,726
1998 $4,752 $10,415 $4,250 $10,666
1997 $4,606 $9,846 $4,092 $10,137
1996 $4,542 $9,388 $4,069 $9,500
1995 $4,509 $9,222 $3,787 $8,812
1994 $4,187 $8,888 $3,028 $8,178
1993 $3,887 $8,441 $2,627 $7,569
1992 $3,747 $8,284 $2,438 $7,270
1991 $3,361 $8,352 $2,254 $7,623
1990 $3,324 $9,169 $3,221 $8,638
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/slovakia | CC BY

Hungary's GDP per capita is $25,907, ranking 52/197, compared to $28,544 in Slovakia, ranking 46/197. Adjusted for purchasing power (GDP per capita PPP), Hungary ranks 48th at $48,552, while Slovakia ranks 49th at $48,132.

Economic indicators

Hungary Slovakia
Gross domestic product
$246B
2025
$155B
2025
GDP rank
55/197
2025
60/197
2025
GDP growth
0.51%
2024-2025
0.81%
2024-2025
GDP per capita
$25,907
2025
$28,544
2025
GDP per capita rank
52/197
2025
46/197
2025
GDP per capita, PPP
$48,552
2024
$48,132
2024
GDP per capita PPP rank
48/197
2024
49/197
2024
Government debt
$185B
2025
$95.3B
2025
Debt-to-GDP ratio
75.2%
2025
61.6%
2025
Government debt per person
$19,473
2025
$17,597
2025
Government debt per person rank
33/185
2025
36/185
2025
Average annual personal income after taxes
$18,331
2026
$17,518
2026
Market capitalization of domestic companies
$62.6B
2025
$5.38B
2014
Number of millionaires
27,000
2026
n/a
Number of billionaires
4
2026
2
2026
Income share by richest 10%
24.4%
2022
18.8%
2023
Income share by poorest 10%
2.8%
2022
3.3%
2023
Government expenditure, % of GDP
47.5%
2025
48.7%
2025
Consumer prices inflation
4.41%
2024-2025
4%
2024-2025
Central bank interest rate
6.25%
2026
n/a
Unemployment rate
4.4%
2025
5.4%
2025
Population
9454659
5376239

Spending and national debt comparison by year

Hungary
Spending

Debt
Slovakia
Spending

Debt
1x
Year % of GDP
Hungary Slovakia
Government spending Government debt Government spending Government debt
2025 47.5% 75.2% 48.7% 61.6%
2024 46.9% 73.5% 47.5% 59.7%
2023 49.3% 73.2% 48.2% 55.8%
2022 48.9% 74.1% 43.1% 57.8%
2021 48.1% 76.2% 44.8% 60.2%
2020 51% 78.7% 44.5% 58.4%
2019 45.8% 65% 40.6% 48%
2018 45.9% 68.8% 39.7% 49.3%
2017 46.6% 72% 39.8% 51.4%
2016 46.7% 74.6% 40.9% 52.1%
2015 50.4% 75.7% 44.1% 51.6%
2014 50% 76.5% 42% 53.4%
2013 50.1% 77.2% 41.1% 54.6%
2012 49.2% 78.4% 40% 51.7%
2011 49.1% 80.5% 40.8% 43.3%
2010 48.9% 80.2% 41% 40.7%
2009 50.7% 78.2% 43.2% 36.4%
2008 48.8% 71.8% 36.5% 28.6%
2007 49.9% 65.6% 35.9% 30.4%
2006 51.4% 64.5% 38.2% 31.5%
2005 49.4% 60.6% 39.1% 35%
2004 48.8% 58.9% 38.4% 42%
2003 49.2% 58.2% 40% 43.6%
2002 51% 55.6% 46% 45.6%
2001 47.2% 52.2% 46.2% 51.4%
2000 47.3% 55.6% 53.2% 50.6%
1999 48.9% 60.3% 48.4% 47.1%
1998 50.7% 60.4% 46.2% 33.9%
1997 49.5% 62.2% 48.6% 32.8%
1996 50.9% 71.2% 52.8% 30.3%
1995 55% 83.9% 47.8% 21.3%
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/slovakia | CC BY

In 2025, Hungary's government spending was $117B, accounting for 47.5% of its GDP, while Slovakia spent $75.3B, or 48.7% of GDP.

Debt-to-GDP ratio is 75.2% in Hungary and 61.6% in Slovakia, ranking 50/185 and 74/185, respectively.

Government deficit by year

Deficit/surplus
Hungary

Slovakia
1x
Year Deficit/surplus, % of GDP
Hungary Slovakia
2025 -4.68% -5.02%
2024 -4.9% -5.5%
2023 -6.77% -5.3%
2022 -6.19% -1.56%
2021 -7.11% -5.09%
2020 -7.49% -5.3%
2019 -2.02% -1.21%
2018 -2.05% -1.01%
2017 -2.45% -0.98%
2016 -1.79% -2.59%
2015 -2% -2.78%
2014 -2.77% -3.25%
2013 -2.6% -2.86%
2012 -2.33% -4.37%
2011 -5.22% -4.36%
2010 -4.44% -7.44%
2009 -4.76% -8.18%
2008 -3.78% -2.54%
2007 -5.09% -2.26%
2006 -9.27% -3.57%
2005 -7.79% -2.86%
2004 -6.6% -2.36%
2003 -7.19% -2.28%
2002 -8.79% -8.35%
2001 -4% -7.74%
2000 -3.04% -12.7%
1999 -5.27% -7.25%
1998 -7.41% -5.37%
1997 -5.54% -6.24%
1996 -4.36% -9.72%
1995 -8.57% -3.43%
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/slovakia | 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 Slovakia's deficit of $7.75B, or 5.02% of GDP.

Over the past 31 years, Hungary recorded a fiscal deficit in 31 of those years, while Slovakia ran a deficit in 31 years. On average, Hungary posted an annual deficit equal to 5.04% of GDP, compared to deficit of 4.63% of GDP for Slovakia.

Inflation comparison by year

Inflation
Hungary

Slovakia
1x
Year Consumer prices inflation
Hungary Slovakia
2025 4.41% 4%
2024 3.7% 2.76%
2023 17.1% 10.5%
2022 14.6% 12.8%
2021 5.11% 3.15%
2020 3.33% 1.94%
2019 3.34% 2.66%
2018 2.85% 2.51%
2017 2.35% 1.31%
2016 0.39% -0.52%
2015 -0.06% -0.33%
2014 -0.23% -0.08%
2013 1.73% 1.4%
2012 5.65% 3.61%
2011 3.93% 3.92%
2010 4.86% 0.96%
2009 4.21% 1.62%
2008 6.04% 4.6%
2007 7.96% 2.76%
2006 3.93% 4.48%
2005 3.56% 2.71%
2004 6.74% 7.55%
2003 4.66% 8.55%
2002 5.27% 3.13%
2001 9.12% 7.33%
2000 9.8% 12%
1999 10% 10.6%
1998 14.2% 6.67%
1997 18.3% 6.14%

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

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

Over the past 29 years, Hungary has recorded an average annual inflation rate of 6.1%, compared with 4.44% in Slovakia. In 2025, inflation was 4.41% in Hungary and 4% in Slovakia.

Top exports between countries

Hungary
Export category Export value
Machinery & equipment $4.65B
Chemicals & pharma $879M
Transport & tourism services $796M
Raw materials & minerals $539M
Processed food, beverages & tobacco $412M
Metals $392M
Textiles & consumer goods $387M
Raw agricultural goods $160M
Wood & paper products $157M
Animal & marine products $156M
Slovakia
Export category Export value
Raw materials & minerals $3.31B
Machinery & equipment $2.99B
Metals $899M
Textiles & consumer goods $579M
Processed food, beverages & tobacco $511M
Chemicals & pharma $432M
Transport & tourism services $392M
Wood & paper products $385M
Raw agricultural goods $338M
Animal & marine products $196M

Balance of trade

Hungary Slovakia
Current account balance
$4.08B
2025
-$5.6B
2025
Current account balance ranking
34/190
2025
165/190
2025
Current account balance, % of GDP
+1.65%
2025
-3.63%
2025
Goods imports
$139B
2025
$117B
2025
Goods exports
$136B
2025
$117B
2025
Service imports
$29.8B
2025
$14.3B
2025
Service exports
$43.1B
2025
$14.7B
2025
Imports of goods and services, % of GDP
68.1%
2025
85.2%
2025
Exports of goods and services, % of GDP
72.6%
2025
85.1%
2025

Economic freedom indices

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

Hungary Slovakia
Economic freedom 62.5 67.7
Economic freedom ranking 86/197 54/197
Property rights 67.3 82.6
Government integrity 44 57.2
Judicial effectiveness 61.9 70.5
Tax burden 85.1 75.4
Government spending 30.2 36.4
Fiscal health 32.7 69.6
Business freedom 70.8 71.1
Labor freedom 56.5 55.1
Monetary freedom 72.1 69.7
Trade freedom 79.4 79.4
Investment freedom 80 75
Financial freedom 70 70

Economic freedom comparison by year

Hungary
Slovakia
1x
Year Economic freedom index
Hungary Slovakia
2026 62.5 67.7
2025 61.4 68.4
2024 61.2 68.1
2023 64.1 69
2022 66.9 69.7
2021 67.2 66.3
2020 66.4 66.8
2019 65 65
2018 66.7 65.3
2017 65.8 65.7
2016 66 66.6
2015 66.8 67.2
2014 67 66.4
2013 67.3 68.7
2012 67.1 67
2011 66.6 69.5
2010 66.1 69.7
2009 66.8 69.4
2008 67.6 70
2007 64.8 69.6
2006 65 69.8
2005 63.5 66.8
2004 62.7 64.6
2003 63 59
2002 64.5 59.8
2001 65.6 58.5
2000 64.4 53.8
1999 59.6 54.2
1998 56.9 57.5
1997 55.3 55.5
1996 56.8 57.6
1995 55.2 60.4

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

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

The Economic Freedom Index for Hungary is 62.5, ranking 86/197, compared to 67.7 for Slovakia, ranking 54/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Hungary Slovakia
Services, % of GDP
60.1%
2025
59.8%
2025
Industry, % of GDP
23%
2025
28.1%
2025
Agriculture, forestry, and fishing, % of GDP
2.65%
2025
1.59%
2025
GNI, Atlas method
$227B
2025
$143B
2025
GNI per capita, PPP
$48,630
2025
$47,920
2025
Total reserves including gold
$59.1B
2025
$18.2B
2025
Total reserves ranking
42/177
2025
69/177
2025
Net foreign direct investment
$9.1B
2025
-$198M
2025
Net inflows of foreign direct investment
-$61.3B
2024
$5.01B
2024
Net outflows of foreign direct investment
-$76.3B
2024
$2.24B
2024
Poverty at national poverty lines
12.1%
2021
13.7%
2021
Gross capital formation, % of GDP
22.2%
2025
20.1%
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/slovakia | 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 (2024–2025, 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.

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.