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Hungary is at the beginning of the EU GDP table

Hungary is at the beginning of the EU GDP table

Eurostat Published by Eurostat Based on seasonally adjusted data, the latest classification of GDP size for the first quarter of 2024. The report shows a mixed economic picture, in some countries growth was strong and exceeded expectations, while there are still contracting economies in the European Union.

Compared to the previous quarter, Ireland had the best growth of 1.1 per cent, followed by Lithuania, Latvia and Hungary: all three countries led the field with a growth rate of 0.8 per cent.

Spain is following this trend closely with a growth rate of 0.7%, demonstrating the country's resilience and economic viability. Belgium maintains a stable growth rate of 0.3%, which places it in sixth place among the best performers.

There is Sweden, which contracted by 0.1 percent, while Austria, Germany and France each expanded by only 0.2 percent. Average growth in the European Union and the Eurozone showed an increase of 0.3 percent.

According to Eurostat data, the Hungarian economy shows a mixed picture. The country saw stagnant growth of 0.0% in the second quarter of 2023, followed by a positive growth of 0.9% in the third quarter of 2023. However, the growth rate declined to 0.0% in the fourth quarter of 2023. This year, on the other hand The adjusted expansion for the calendar effect was 0.8 percent, while the year-on-year increase was 1.7 percent.

Cover image source: Getty Images

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