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Economy of Hungary vs Zambia compared: GDP & Debt

Updated on by Georank team

Hungary has a GDP of $223B compared to $25.3B for Zambia, ranking 55/197 and 116/197 by economy size, respectively.

Hungary has $164B in government debt (73.5% of GDP), compared to $29.1B (114.9% of GDP) in Zambia.

Hungary vs Zambia GDP by year

Hungary
Zambia
1x
Year GDP, current $
Hungary Zambia
2024 $222,722,738,926 $25,303,185,342
2023 $213,240,316,635 $27,577,956,471
2022 $177,002,580,544 $29,163,782,140
2021 $183,282,685,440 $22,096,416,932
2020 $158,468,487,754 $18,137,764,931
2019 $164,936,682,034 $23,308,667,781
2018 $161,184,691,014 $26,311,507,274
2017 $143,335,098,992 $25,873,601,261
2016 $128,983,560,865 $20,958,412,538
2015 $125,244,126,623 $21,251,216,799
2014 $141,128,696,412 $27,141,023,558
2013 $135,646,053,779 $28,037,239,463
2012 $128,470,269,690 $25,503,060,420
2011 $141,712,804,954 $23,459,515,276
2010 $131,898,737,241 $20,265,559,484
2009 $130,807,441,076 $15,328,342,304
2008 $158,228,265,916 $17,910,858,638
2007 $140,123,326,896 $14,056,957,976
2006 $115,604,111,412 $12,756,858,899
2005 $113,098,237,571 $8,331,870,169
2004 $104,015,363,080 $6,221,110,219
2003 $85,190,469,121 $4,901,869,764
2002 $67,636,468,625 $4,193,850,445
2001 $53,800,068,066 $4,094,441,301
2000 $47,275,954,429 $3,600,632,111
1999 $49,160,204,397 $3,404,284,891
1998 $48,784,412,624 $3,537,741,942
1997 $47,398,564,799 $4,303,288,480
1996 $46,833,767,124 $3,597,220,962
1995 $46,577,614,589 $3,806,983,413
1994 $43,307,949,890 $3,656,806,166
1993 $40,256,233,360 $3,273,505,344
1992 $38,857,339,125 $3,182,810,841
1991 $34,867,307,353 $3,376,806,697
1990 $34,478,360,679 $3,288,381,797
1989 $30,422,508,938 $3,994,673,161
1988 $29,799,838,597 $3,728,878,149
1987 $27,232,016,527 $2,265,250,972
1986 $24,778,163,812 $1,664,413,508
1985 $21,510,643,750 $2,252,454,500
1984 $21,242,726,264 $2,719,518,933
1983 $21,910,365,258 $3,321,048,451
1982 $24,141,667,188 $3,871,117,093
1981 $23,705,883,892 $4,008,126,497
1980 $23,116,977,148 $3,884,530,854
1979 $19,959,731,325 $3,353,445,378
1978 $17,286,744,154 $2,811,032,473
1977 $14,783,674,055 $2,515,296,940
1976 $13,235,612,079 $2,742,859,263
1975 $11,420,392,515 $2,442,672,141
1974 $10,016,338,179 $2,910,981,262
1973 $9,138,292,402 $2,434,255,237
1972 $7,379,313,742 $1,872,416,680
1971 $6,291,568,221 $1,653,259,341
1970 $5,780,929,203 $1,788,779,285
1969 $5,429,812,387 $1,926,399,230
1968 $4,886,222,555 $1,573,739,371
1967 - $1,340,639,464
1966 - $1,238,999,505
1965 - $1,061,199,576
1964 - $822,639,671
1963 - $704,339,719
1962 - $679,279,729
1961 - $682,359,727
1960 - $698,739,721

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

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

GDP per capita in Hungary vs Zambia by year

Hungary
GDP per capita

GDP per capita, PPP
Zambia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Hungary Zambia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $23,292 $48,552 $1,187 $4,215
2023 $22,231 $46,592 $1,331 $4,077
2022 $18,428 $44,366 $1,447 $3,841
2021 $19,031 $38,887 $1,127 $3,503
2020 $16,387 $35,584 $952 $3,157
2019 $17,013 $35,627 $1,259 $3,361
2018 $16,605 $32,258 $1,464 $3,442
2017 $14,736 $29,728 $1,483 $3,392
2016 $13,216 $28,179 $1,239 $3,313
2015 $12,783 $26,938 $1,296 $3,337
2014 $14,353 $25,796 $1,707 $3,441
2013 $13,739 $24,592 $1,821 $3,477
2012 $12,950 $23,205 $1,710 $3,324
2011 $14,211 $22,992 $1,625 $3,228
2010 $13,190 $21,691 $1,451 $3,098
2009 $13,051 $20,691 $1,136 $2,872
2008 $15,763 $20,709 $1,376 $2,708
2007 $13,935 $19,089 $1,119 $2,555
2006 $11,478 $18,362 $1,052 $2,378
2005 $11,212 $17,091 $711 $2,213
2004 $10,291 $16,251 $549 $2,068
2003 $8,410 $15,460 $446 $1,942
2002 $6,658 $14,532 $394 $1,837
2001 $5,281 $13,223 $397 $1,785
2000 $4,630 $11,872 $359 $1,709
1999 $4,802 $10,892 $350 $1,654
1998 $4,752 $10,415 $373 $1,601
1997 $4,606 $9,846 $466 $1,631
1996 $4,542 $9,388 $400 $1,585
1995 $4,509 $9,222 $433 $1,501
1994 $4,187 $8,888 $426 $1,464
1993 $3,887 $8,441 $391 $1,607
1992 $3,747 $8,284 $389 $1,505
1991 $3,361 $8,352 $423 $1,534
1990 $3,324 $9,169 $422 $1,522
1989 $2,902 - $526 -
1988 $2,812 - $504 -
1987 $2,566 - $315 -
1986 $2,331 - $238.2 -
1985 $2,020 - $332 -
1984 $1,991 - $413 -
1983 $2,050 - $520 -
1982 $2,255 - $627 -
1981 $2,213 - $670 -
1980 $2,158 - $669 -
1979 $1,865 - $595 -
1978 $1,618 - $514 -
1977 $1,388 - $474 -
1976 $1,249 - $533 -
1975 $1,083 - $490 -
1974 $956 - $601 -
1973 $876 - $518 -
1972 $710 - $410 -
1971 $607 - $372 -
1970 $559 - $414 -
1969 $527 - $459 -
1968 $476 - $387 -
1967 - - $341 -
1966 - - $325 -
1965 - - $287.4 -
1964 - - $230 -
1963 - - $203.2 -
1962 - - $202.3 -
1961 - - $209.7 -
1960 - - $221.6 -

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

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

Hungary's GDP per capita is $23,292, ranking 55/197, compared to $1,187 in Zambia, ranking 169/197. Adjusted for purchasing power (GDP per capita PPP), Hungary ranks 48th at $48,552, while Zambia ranks 166th at $4,215.

Economic indicators

Hungary Zambia
Gross domestic product
$223B
2024
$25.3B
2024
GDP rank
55/197
2024
116/197
2024
GDP growth
0.56%
2023-2024
3.82%
2023-2024
GDP per capita
$23,292
2024
$1,187
2024
GDP per capita rank
55/197
2024
169/197
2024
GDP per capita, PPP
$48,552
2024
$4,215
2024
GDP per capita PPP rank
48/197
2024
166/197
2024
Government debt
$164B
2024
$29.1B
2024
Debt-to-GDP ratio
73.5%
2024
114.9%
2024
Government debt per person
$17,109
2024
$1,365
2024
Government debt per person rank
37/185
2024
134/185
2024
Average annual personal income after taxes
$16,996
2026
$1,349
2026
Market capitalization of domestic companies
$41.5B
2024
$7.77B
2024
Number of millionaires
24,692
2025
n/a
Number of billionaires
4
2025
n/a
Income share by richest 10%
24.4%
2022
39.1%
2022
Income share by poorest 10%
2.8%
2022
1.5%
2022
Government expenditure, % of GDP
46.9%
2024
25.5%
2024
Consumer prices inflation
3.7%
2023-2024
15%
2023-2024
Central bank interest rate
6.5%
2024
14.3%
2025
Unemployment rate
4.47%
2024
5.86%
2023
Population
9475525
22697916

Spending and national debt comparison by year

Hungary
Spending

Debt
Zambia
Spending

Debt
1x
Year % of GDP
Hungary Zambia
Government spending Government debt Government spending Government debt
2024 46.9% 73.5% 25.5% 114.9%
2023 49.2% 73% 27.4% 129.1%
2022 48.7% 73.9% 28.2% 99.5%
2021 48.1% 76.2% 30.5% 111%
2020 51% 78.7% 34% 140%
2019 45.8% 65% 29.8% 103.3%
2018 45.9% 68.8% 27.7% 81.2%
2017 46.6% 72% 25% 66.6%
2016 46.7% 74.6% 23.9% 61.2%
2015 50.4% 75.7% 27.6% 61.9%
2014 50% 76.5% 24.3% 33.9%
2013 50.1% 77.2% 24% 25.9%
2012 49.2% 78.4% 21.9% 24.9%
2011 49.1% 80.5% 19.5% 20.8%
2010 48.9% 80.2% 18.1% 18.9%
2009 50.7% 78.2% 17.8% 20.5%
2008 48.8% 71.8% 19.5% 19.2%
2007 49.9% 65.6% 19.9% 21.9%
2006 51.4% 64.5% 19.7% 25%
2005 49.4% 60.6% 22.5% 75.7%
2004 48.8% 58.9% 23.3% 129.9%
2003 49.2% 58.2% 27.3% 159.5%
2002 51% 55.6% 27.6% 180.2%
2001 47.2% 52.2% 28% 210.2%
2000 47.3% 55.6% 21.4% 261%
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/zambia | CC BY

In 2024, Hungary's government spending was $104B, accounting for 46.9% of its GDP, while Zambia spent $6.45B, or 25.5% of GDP.

Debt-to-GDP ratio is 73.5% in Hungary and 114.9% in Zambia, ranking 49/185 and 13/185, respectively.

Government deficit by year

Deficit/surplus
Hungary

Zambia
1x
Year Deficit/surplus, % of GDP
Hungary Zambia
2024 -4.92% -3.32%
2023 -6.75% -5.48%
2022 -6.17% -7.82%
2021 -7.11% -8.13%
2020 -7.49% -13.8%
2019 -2.02% -9.41%
2018 -2.05% -8.31%
2017 -2.45% -7.5%
2016 -1.79% -5.69%
2015 -2% -8.88%
2014 -2.77% -5.43%
2013 -2.6% -6.4%
2012 -2.33% -3.16%
2011 -5.22% -1.78%
2010 -4.44% -2.43%
2009 -4.76% -2.06%
2008 -3.78% -0.67%
2007 -5.09% -1.04%
2006 -9.27% 16.9%
2005 -7.79% -2.37%
2004 -6.6% -2.51%
2003 -7.19% -5.31%
2002 -8.79% -4.5%
2001 -4% -5.89%
2000 -3.04% 1.16%
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/zambia | 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 Zambia's deficit of $840M, or 3.32% of GDP.

Over the past 25 years, Hungary recorded a fiscal deficit in 25 of those years, while Zambia ran a deficit in 23 years. On average, Hungary posted an annual deficit equal to 4.82% of GDP, compared to deficit of 4.15% of GDP for Zambia.

Inflation comparison by year

Inflation
Hungary

Zambia
1x
Year Consumer prices inflation
Hungary Zambia
2024 3.7% 15%
2023 17.1% 10.9%
2022 14.6% 11%
2021 5.11% 22%
2020 3.33% 15.7%
2019 3.34% 9.2%
2018 2.85% 7.5%
2017 2.35% 6.6%
2016 0.39% 17.9%
2015 -0.06% 10.1%
2014 -0.23% 7.8%
2013 1.73% 7%
2012 5.65% 6.6%
2011 3.93% 8.7%
2010 4.86% 8.5%
2009 4.21% 13.4%
2008 6.04% 12.4%
2007 7.96% 10.7%
2006 3.93% 9%
2005 3.56% 18.3%
2004 6.74% 18%
2003 4.66% 21.4%
2002 5.27% 22.2%
2001 9.12% 21.4%
2000 9.8% 24.1%
1999 10% 23.9%
1998 14.2% 22.7%
1997 18.3% 21.4%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

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

Over the past 28 years, Hungary has recorded an average annual inflation rate of 6.16%, compared with 14.4% in Zambia. In 2024, inflation was 3.7% in Hungary and 15% in Zambia.

Top exports between countries

Hungary
Export category Export value
Chemicals & pharma $1.35M
Machinery & equipment $206K
Textiles & consumer goods $202K
Raw materials & minerals $58K
Animal & marine products $54K
Zambia
Export category Export value
Machinery & equipment $13K
Miscellaneous $4K
Precious metals & jewellery $1K

Balance of trade

Hungary Zambia
Current account balance
$3.52B
2024
-$487M
2024
Current account balance ranking
36/190
2024
106/190
2024
Current account balance, % of GDP
+1.58%
2024
-1.93%
2024
Goods imports
$130B
2024
$10.1B
2024
Goods exports
$129B
2024
$11.4B
2024
Service imports
$27.9B
2024
$1.94B
2024
Service exports
$38.9B
2024
$1.38B
2024
Imports of goods and services, % of GDP
71.1%
2024
27.6%
2024
Exports of goods and services, % of GDP
75.4%
2024
35%
2024

Economic freedom indices

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

Hungary Zambia
Economic freedom 62.5 51.9
Economic freedom ranking 86/197 152/197
Property rights 67.3 43.9
Government integrity 44 39.3
Judicial effectiveness 61.9 45
Tax burden 85.1 74.3
Government spending 30.2 78.1
Fiscal health 32.7 30.9
Business freedom 70.8 53.4
Labor freedom 56.5 48.8
Monetary freedom 72.1 66.6
Trade freedom 79.4 62.8
Investment freedom 80 40
Financial freedom 70 40

Economic freedom comparison by year

Hungary
Zambia
1x
Year Economic freedom index
Hungary Zambia
2026 62.5 51.9
2025 61.4 50.9
2024 61.2 48.4
2023 64.1 47.8
2022 66.9 48.7
2021 67.2 50.4
2020 66.4 53.5
2019 65 53.6
2018 66.7 54.3
2017 65.8 55.8
2016 66 58.8
2015 66.8 58.7
2014 67 60.4
2013 67.3 58.7
2012 67.1 58.3
2011 66.6 59.7
2010 66.1 58
2009 66.8 56.6
2008 67.6 56.2
2007 64.8 56.2
2006 65 56.8
2005 63.5 55
2004 62.7 54.9
2003 63 55.3
2002 64.5 59.6
2001 65.6 59.5
2000 64.4 62.8
1999 59.6 64.2
1998 56.9 62.7
1997 55.3 62.1
1996 56.8 59.6
1995 55.2 55.1

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

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

The Economic Freedom Index for Hungary is 62.5, ranking 86/197, compared to 51.9 for Zambia, ranking 152/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Hungary Zambia
Services, % of GDP
59.5%
2024
57.2%
2024
Industry, % of GDP
23.7%
2024
35.2%
2024
Agriculture, forestry, and fishing, % of GDP
2.71%
2024
2.83%
2024
GNI, Atlas method
$199B
2024
$25.9B
2024
GNI per capita, PPP
$47,290
2024
$3,850
2024
Total reserves including gold
$46.4B
2024
$4.09B
2024
Total reserves ranking
42/177
2024
106/177
2024
Net foreign direct investment
-$15.8B
2024
-$1.32B
2024
Net inflows of foreign direct investment
-$62.2B
2024
$2.36B
2024
Net outflows of foreign direct investment
-$78B
2024
$311M
2024
Servicing debt to the IMF, % of GNI n/a
16.9%
2024
Poverty at national poverty lines
12.1%
2021
60%
2022
Gross capital formation, % of GDP
23.5%
2024
23.8%
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/zambia | 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.