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Economy of Hungary vs Vanuatu compared: GDP & Debt

Updated on by Georank team

Hungary has a GDP of $223B compared to $1.12B for Vanuatu, ranking 55/197 and 188/197 by economy size, respectively.

Hungary has $164B in government debt (73.5% of GDP), compared to $507M (45.3% of GDP) in Vanuatu.

Hungary vs Vanuatu GDP by year

Hungary
Vanuatu
1x
Year GDP, current $
Hungary Vanuatu
2024 $222,722,738,926 $1,117,972,034
2023 $213,240,316,635 $1,115,861,056
2022 $177,002,580,544 $1,055,031,361
2021 $183,282,685,440 $950,394,007
2020 $158,468,487,754 $909,421,044
2019 $164,936,682,034 $936,526,268
2018 $161,184,691,014 $914,727,908
2017 $143,335,098,992 $880,043,284
2016 $128,983,560,865 $804,323,577
2015 $125,244,126,623 $759,690,181
2014 $141,128,696,412 $773,717,011
2013 $135,646,053,779 $758,304,466
2012 $128,470,269,690 $747,839,698
2011 $141,712,804,954 $770,153,588
2010 $131,898,737,241 $670,712,980
2009 $130,807,441,076 $592,622,319
2008 $158,228,265,916 $590,748,429
2007 $140,123,326,896 $516,392,923
2006 $115,604,111,412 $439,358,587
2005 $113,098,237,571 $394,962,433
2004 $104,015,363,080 $364,996,869
2003 $85,190,469,121 $314,471,413
2002 $67,636,468,625 $262,596,536
2001 $53,800,068,066 $257,926,882
2000 $47,275,954,429 $272,014,628
1999 $49,160,204,397 $268,006,973
1998 $48,784,412,624 $262,293,411
1997 $47,398,564,799 $272,771,209
1996 $46,833,767,124 $261,370,044
1995 $46,577,614,589 $249,333,250
1994 $43,307,949,890 $233,701,301
1993 $40,256,233,360 $200,491,853
1992 $38,857,339,125 $209,088,825
1991 $34,867,307,353 $201,334,169
1990 $34,478,360,679 $168,879,207
1989 $30,422,508,938 $154,013,202
1988 $29,799,838,597 $158,351,368
1987 $27,232,016,527 $139,464,174
1986 $24,778,163,812 $126,498,935
1985 $21,510,643,750 $131,856,421
1984 $21,242,726,264 $144,482,515
1983 $21,910,365,258 $117,389,554
1982 $24,141,667,188 $114,501,913
1981 $23,705,883,892 $113,781,796
1980 $23,116,977,148 $121,185,498
1979 $19,959,731,325 $119,258,835
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 (1968–2024, retrieved 2026-04-06).

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

GDP per capita in Hungary vs Vanuatu by year

Hungary
GDP per capita

GDP per capita, PPP
Vanuatu
GDP per capita

GDP per capita, PPP
1x
Year Current $
Hungary Vanuatu
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $23,292 $48,552 $3,411 $3,606
2023 $22,231 $46,592 $3,483 $3,568
2022 $18,428 $44,366 $3,370 $3,453
2021 $19,031 $38,887 $3,107 $3,136
2020 $16,387 $35,584 $3,043 $3,118
2019 $17,013 $35,627 $3,207 $3,315
2018 $16,605 $32,258 $3,207 $3,233
2017 $14,736 $29,728 $3,160 $3,146
2016 $13,216 $28,179 $2,956 $3,030
2015 $12,783 $26,938 $2,855 $2,966
2014 $14,353 $25,796 $2,973 $2,890
2013 $13,739 $24,592 $2,980 $2,832
2012 $12,950 $23,205 $3,005 $2,834
2011 $14,211 $22,992 $3,163 $2,816
2010 $13,190 $21,691 $2,815 $2,733
2009 $13,051 $20,691 $2,546 $2,730
2008 $15,763 $20,709 $2,604 $2,701
2007 $13,935 $19,089 $2,334 $2,573
2006 $11,478 $18,362 $2,035 $2,496
2005 $11,212 $17,091 $1,874 $2,287
2004 $10,291 $16,251 $1,774 $2,157
2003 $8,410 $15,460 $1,567 $2,070
2002 $6,658 $14,532 $1,341 $1,995
2001 $5,281 $13,223 $1,350 $2,125
2000 $4,630 $11,872 $1,460 $2,206
1999 $4,802 $10,892 $1,472 $2,084
1998 $4,752 $10,415 $1,471 $2,091
1997 $4,606 $9,846 $1,562 $2,087
1996 $4,542 $9,388 $1,529 $1,998
1995 $4,509 $9,222 $1,492 $1,961
1994 $4,187 $8,888 $1,431 $1,946
1993 $3,887 $8,441 $1,257 $1,789
1992 $3,747 $8,284 $1,344 $1,777
1991 $3,361 $8,352 $1,326 $1,737
1990 $3,324 $9,169 $1,141 $1,670
1989 $2,902 - $1,067 -
1988 $2,812 - $1,125 -
1987 $2,566 - $1,017 -
1986 $2,331 - $946 -
1985 $2,020 - $1,012 -
1984 $1,991 - $1,137 -
1983 $2,050 - $947 -
1982 $2,255 - $946 -
1981 $2,213 - $962 -
1980 $2,158 - $1,048 -
1979 $1,865 - $1,055 -
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 (1968–2024, retrieved 2026-04-06).

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

Hungary's GDP per capita is $23,292, ranking 55/197, compared to $3,411 in Vanuatu, ranking 137/197. Adjusted for purchasing power (GDP per capita PPP), Hungary ranks 48th at $48,552, while Vanuatu ranks 170th at $3,606.

Economic indicators

Hungary Vanuatu
Gross domestic product
$223B
2024
$1.12B
2024
GDP rank
55/197
2024
188/197
2024
GDP growth
0.56%
2023-2024
0.94%
2023-2024
GDP per capita
$23,292
2024
$3,411
2024
GDP per capita rank
55/197
2024
137/197
2024
GDP per capita, PPP
$48,552
2024
$3,606
2024
GDP per capita PPP rank
48/197
2024
170/197
2024
Government debt
$164B
2024
$507M
2024
Debt-to-GDP ratio
73.5%
2024
45.3%
2024
Government debt per person
$17,109
2024
$1,546
2024
Government debt per person rank
37/185
2024
131/185
2024
Average annual personal income after taxes
$16,996
2026
$3,164
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
24.7%
2019
Income share by poorest 10%
2.8%
2022
3%
2019
Government expenditure, % of GDP
46.9%
2024
41.1%
2024
Consumer prices inflation
3.7%
2023-2024
11.2%
2022-2023
Central bank interest rate
6.5%
2024
n/a
Unemployment rate
4.47%
2024
4.05%
2020
Population
9475525
344750

Spending and national debt comparison by year

Hungary
Spending

Debt
Vanuatu
Spending

Debt
1x
Year % of GDP
Hungary Vanuatu
Government spending Government debt Government spending Government debt
2024 46.9% 73.5% 41.1% 45.3%
2023 49.2% 73% 41.6% 41.8%
2022 48.7% 73.9% 42% 42.8%
2021 48.1% 76.2% 44.4% 48.5%
2020 51% 78.7% 43.4% 48%
2019 45.8% 65% 39.8% 45.1%
2018 45.9% 68.8% 33.3% 45.3%
2017 46.6% 72% 37.1% 52.6%
2016 46.7% 74.6% 35.2% 42.5%
2015 50.4% 75.7% 42.4% 36.3%
2014 50% 76.5% 23.3% 20.2%
2013 50.1% 77.2% 22.9% 18.6%
2012 49.2% 78.4% 24.5% 19.3%
2011 49.1% 80.5% 25.1% 21.3%
2010 48.9% 80.2% 28.3% 20.2%
2009 50.7% 78.2% 27.6% 21.1%
2008 48.8% 71.8% 27.8% 21.2%
2007 49.9% 65.6% 22.5% 19.5%
2006 51.4% 64.5% 20.1% 22.2%
2005 49.4% 60.6% 18.3% 26.3%
2004 48.8% 58.9% 18.5% 30.4%
2003 49.2% 58.2% 18.8% 38.3%
2002 51% 55.6% 22.3% 38.8%
2001 47.2% 52.2% 22.3% 37%
2000 47.3% 55.6% 25.4% 36.1%
1999 48.9% 60.3% 23.9% 30.6%
1998 50.7% 60.4% 27.9% 28%
1997 49.5% 62.2% 22.2% 22.9%
1996 50.9% 71.2% 24.5% 23.1%
1995 55% 83.9% 28% 24.1%
1994 - 86.2% 24.4% 21.6%
1993 - 87.2% 26.2% 20.3%
1992 - 76.5% 31.8% 21%
1991 - 74.2% 33.2% 15.9%
1990 - 63.7% - -
1989 - 70.7% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1991–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1989–1994, retrieved 2026-02-20).

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

In 2024, Hungary's government spending was $104B, accounting for 46.9% of its GDP, while Vanuatu spent $459M, or 41.1% of GDP.

Debt-to-GDP ratio is 73.5% in Hungary and 45.3% in Vanuatu, ranking 49/185 and 119/185, respectively.

Government deficit by year

Deficit/surplus
Hungary

Vanuatu
1x
Year Deficit/surplus, % of GDP
Hungary Vanuatu
2024 -4.92% -2.34%
2023 -6.75% -0.95%
2022 -6.17% -6.5%
2021 -7.11% 2.38%
2020 -7.49% -1.95%
2019 -2.02% 2.81%
2018 -2.05% 6.26%
2017 -2.45% -1.2%
2016 -1.79% -0.72%
2015 -2% -8.66%
2014 -2.77% 1.44%
2013 -2.6% -0.25%
2012 -2.33% -1.7%
2011 -5.22% -2.19%
2010 -4.44% -2.63%
2009 -4.76% -0.85%
2008 -3.78% -0.04%
2007 -5.09% 0.28%
2006 -9.27% 0.49%
2005 -7.79% 1.86%
2004 -6.6% 0.8%
2003 -7.19% -1.35%
2002 -8.79% -3.63%
2001 -4% -3.33%
2000 -3.04% -6.28%
1999 -5.27% -0.55%
1998 -7.41% -6.65%
1997 -5.54% -0.51%
1996 -4.36% -1.78%
1995 -8.57% -2.59%
1994 - -1.49%
1993 - -3.67%
1992 - -2.32%
1991 - -2.81%
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 (1991–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1927–1943, retrieved 2026-02-20).

GeoRank.org/economy/hungary/vanuatu | 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 Vanuatu's deficit of $26.2M, or 2.34% of GDP.

Over the past 30 years, Hungary recorded a fiscal deficit in 30 of those years, while Vanuatu ran a deficit in 22 years. On average, Hungary posted an annual deficit equal to 5.05% of GDP, compared to deficit of 1.34% of GDP for Vanuatu.

Inflation comparison by year

Inflation
Hungary

Vanuatu
1x
Year Consumer prices inflation
Hungary Vanuatu
2024 3.7% -
2023 17.1% 11.2%
2022 14.6% 6.68%
2021 5.11% 2.34%
2020 3.33% 5.33%
2019 3.34% 2.76%
2018 2.85% 2.33%
2017 2.35% 3.08%
2016 0.39% 0.84%
2015 -0.06% 2.48%
2014 -0.23% 0.8%
2013 1.73% 1.46%
2012 5.65% 1.35%
2011 3.93% 0.87%
2010 4.86% 2.76%
2009 4.21% 4.3%
2008 6.04% 4.84%
2007 7.96% 3.94%
2006 3.93% 2.04%
2005 3.56% 1.2%
2004 6.74% 1.42%
2003 4.66% 3.02%
2002 5.27% 1.96%
2001 9.12% 3.58%
2000 9.8% 2.54%
1999 10% 2%
1998 14.2% 3.28%
1997 18.3% 2.83%

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

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

Over the past 27 years, Hungary has recorded an average annual inflation rate of 6.25%, compared with 3.01% in Vanuatu. In 2023, inflation was 3.7% in Hungary and 11.2% in Vanuatu.

Top exports between countries

Hungary
Export category Export value
Wood & paper products $703K
Textiles & consumer goods $48K
Machinery & equipment $4K
Raw materials & minerals $1K
Vanuatu
Export category Export value

Balance of trade

Hungary Vanuatu
Current account balance
$3.52B
2024
-$127M
2022
Current account balance ranking
36/190
2024
90/190
2022
Current account balance, % of GDP
+1.58%
2024
-12.1%
2022
Goods imports
$130B
2024
$350M
2022
Goods exports
$129B
2024
$73.6M
2022
Service imports
$27.9B
2024
$230M
2022
Service exports
$38.9B
2024
$78.5M
2022
Imports of goods and services, % of GDP
71.1%
2024
54.2%
2022
Exports of goods and services, % of GDP
75.4%
2024
9.43%
2022

Economic freedom indices

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

Hungary Vanuatu
Economic freedom 62.5 61.1
Economic freedom ranking 86/197 92/197
Property rights 67.3 62.1
Government integrity 44 48.3
Judicial effectiveness 61.9 67.9
Tax burden 85.1 96.9
Government spending 30.2 48.1
Fiscal health 32.7 78.8
Business freedom 70.8 50.3
Labor freedom 56.5 41
Monetary freedom 72.1 72.1
Trade freedom 79.4 62
Investment freedom 80 65
Financial freedom 70 40

Economic freedom comparison by year

Hungary
Vanuatu
1x
Year Economic freedom index
Hungary Vanuatu
2026 62.5 61.1
2025 61.4 61.8
2024 61.2 62.2
2023 64.1 62.1
2022 66.9 62.9
2021 67.2 60.5
2020 66.4 60.7
2019 65 56.4
2018 66.7 69.5
2017 65.8 67.4
2016 66 60.8
2015 66.8 61.1
2014 67 59.5
2013 67.3 56.6
2012 67.1 56.6
2011 66.6 56.7
2010 66.1 56.4
2009 66.8 58.4
2008 67.6 -
2007 64.8 -
2006 65 -
2005 63.5 -
2004 62.7 -
2003 63 -
2002 64.5 -
2001 65.6 -
2000 64.4 -
1999 59.6 -
1998 56.9 -
1997 55.3 -
1996 56.8 -
1995 55.2 -

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

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

The Economic Freedom Index for Hungary is 62.5, ranking 86/197, compared to 61.1 for Vanuatu, ranking 92/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Hungary Vanuatu
Services, % of GDP
59.5%
2024
59.1%
2022
Industry, % of GDP
23.7%
2024
7.37%
2022
Agriculture, forestry, and fishing, % of GDP
2.71%
2024
24.3%
2022
GNI, Atlas method
$199B
2024
$1.28B
2024
GNI per capita, PPP
$47,290
2024
$4,140
2024
Total reserves including gold
$46.4B
2024
$615M
2024
Total reserves ranking
42/177
2024
152/177
2024
Net foreign direct investment
-$15.8B
2024
-$9.21M
2022
Net inflows of foreign direct investment
-$62.2B
2024
$28.9M
2024
Net outflows of foreign direct investment
-$78B
2024
$2.79M
2024
Servicing debt to the IMF, % of GNI n/a
2.04%
2024
Poverty at national poverty lines
12.1%
2021
15.9%
2020
Gross capital formation, % of GDP
23.5%
2024
38.3%
2022

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/vanuatu | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1968–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1991–2024, 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.