Economic weight of industry in Hungary among highest in EU

Budapest (MTI) – Industry accounted for 27.8 percent of gross value added (GVA) in Hungary last year, among the highest rates in the European Union, data compiled by Eurostat show.

Only the rates in the Czech Republic (32.1) and Ireland (39.1) were higher among member states, although Eurostat noted that the picture for Ireland is skewed because of the relocation of a limited number of big economic operators to the country. The rates in neighbouring countries are close to Hungary’s: 27.3 percent in Slovenia, 27 percent in Slovakia, 26.4 percent in Romania and 26.3 percent in Poland.

The Eurostat data show people working in industry in Hungary accounted for 19.8 percent of the total number of employed.

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Those employed in public administration, defence, education, human health and social work accounted for 22.8 percent of the total, generating just 17.3 percent of GVA.

Gross value added is output minus intermediate consumption. It usually accounts for more than 90 percent of GDP.

Photo: MTI

Source: MTI