Gross domestic product, 2008 (Preliminary estimation)

Internet publication – www.ksh.hu © Hungarian September 2009 Central Statistical Office ISBN 978-963-235-266-4

Gross domestic product, 2008 (Preliminary estimation)

Contents

Summary.................................................................................2

Tables .....................................................................................4

Methodological notes .................................…………………..20

Glossary on terms ..........................................................20

Methodological improvements introduced

with the second estimate for 2008.................................23

Compilation of homogeneous time series of national

accounts back to 1995 ..................................................28

Explanations of symbols

Contact detailes

- 2 -

Summary1

In 2008, Hungary’s Gross Domestic Product (GDP) was 26 543 billion HUF at current prices. At the prices of the previous year, this means a 0.6% growth in 2008 compared to the previous year. In per capita terms, the gross domestic product was 2.644 million HUF. It corresponds to € 15 742 at purchasing power parity, that is 63 % of the average of the EU-27.

In 2008, the value added of the national economy grew by 0.9 % at basic prices compared to the preceding year. The largest growth, 2.2% was observed in the non-financial corporations sector. Gross value added of households also rose more rapidly than the average, by 1.1% at constant prices. At the same time the performance of the rest of the sectors decreased (general government by 3.0, financial corporations by 2.8 and non-profit institutions serving households by 1.5 %).

The performance of branches producing goods (agriculture, industry, construction)

rose more rapidly than the average, by 6.2%. The expansion arose completely from the 54.3% increase of the value added of agriculture. Last year’s lower performance and this year’s outstandingly favourable harvest in crop production were behind such an increase in agricultural production. The performance of industry increased by 0.4%. This increase below the total economy’s average is due to the stagnation of the export oriented manufacturing at annual level. In the first half of the year manufacturing still performed well, but it started declining from the second half of the year, because of the economic crisis. Out of the three greatest subsections, only the manufacture of transport equipment exceeded the level of last year, while the production of electrical and optical equipment stagnated, and a decrease was observed in the manufacture of food products, beverages and tobacco. The value added of construction decreased by 3.6% mainly due to the fall in building construction (especially in the construction of industrial buildings, warehouses and office buildings).

The economic downturn is reflected in the performance of the services, too; the

gross value added fell by 1.8%. In the field of trade there was a 2.5% decrease, in line with the drop in the households consumption. A decline was detected in the field of hotels and restaurants (2.1%), while the performance of transport, storage and communications grew by 0.8%. Value added of financial intermediation industry dropped by 3.0 % on one hand as a result of declining service activities of credit institutions (for example in case of new credit granting) and on the other hand as a result of moderate demand for financial and insurance services. In addition, growth rate of insurance claims and payments for services increased remarkably higher than the growth rate of the insurance premiums in 2008. In the branch of real estate activities the gross value added decreased by 1.1%, while in the field of public administration and defence it raised by 1.4%. The gross value added of the education industry decreased by 5.4%, of which the performance of public institutes decreased slightly, while that of the other sectors fell more significantly. The change is the opposite in healthcare, where the gross value added in the government sector decreased

1 Data includes the results of the methodological improvements introduced in 2009 and the backcasting (in the case of homogeneous long time series).

Gross domestic product (Preliminary estimation)

- 3 -

significantly, which shows the continuously growing share of private sector in the field of healthcare activities. Altogether, value added of healthcare decreased by 4.7% in 2008. The sharpest fall was recorded in the field of other service activities (-5.8%) - due to the decline of the recreational, cultural and sporting activities.

On the expenditure side of gross domestic product, the domestic consumption of

households in Hungary (including also the consumption of non-residents) decreased by 0.7%. The consumption of non-residents in Hungary increased by far less than the still dinamically increasing consumption of resident households abroad. The latter includes the consumption of Hungarians staying abroad (for example, to work abroad) for less than a year. The households total final consumption expenditure declined by 0.5% in 2008, although early in the year a small rise was recorded which was followed by a strong decline in the last quarter. Social transfers in kind financed by general government decreased by 1.2%. The government consumption declined by 0.3%. The actual final consumption decreased by 0.6%.

The volume of gross fixed capital formation (GFCF) rose slightly, by 0,4%. The

growth is mainly due to investments realized in real estate, renting and business activities (+6.2%) and agriculture, hunting and forestry (+12.6%). The volume of investments in manufacturing shows a 3.5% decline. Among the industries with the highest share in GFCF, the sharpest fall was detected in the public administration, defence and compulsory social security (-7%) and education (-4.3%).

The total domestic use increased slightly faster than the GDP, by 0.7%. The balance of external trade shows a 259.4 billion HUF surplus at current prices,

with a slightly worsening terms of trade. The growth of the external trade slightly slowed down in 2008 from quarter to quarter compared to previous year, while at the end of the year it turned to a strong decrease. The volume of exports rose by 5.6%, of which the exports of goods increased by 5.8% and services by 4.5%. Imports rose faster, by 5.7%. Imports of goods increased by 5.1% and services by 9.6%.

GNI amounted to 24 762 billion HUF at current prices in 2008, and it was 1.1%

higher in real terms than in the previous year. According to the preliminary data, the difference between GDP and GNI increased continuously since 2003, but it has stopped in 2008. While in 2007 GNI was 92.9% of GDP, it changed to 93.3% in 2008. Among transition items from GDP to GNI, balance of compensation of employees and dividends changed slightly compared to 2007 figures. At the same time, there was a significant change in the structure of reinvested earnings: resident enterprises reinvested 8.7% more earnings to the rest of the world, while non-resident enterprises reinvested 24% less earnings in Hungary. The balance of reinvested earnings decreased the level of GNI by 554 billion HUF in 2007, while this decreasing factor was only 194 billion HUF in 2008. There was a 10% difference between the growth rate of interest paid to the rest of the world and interest received from the rest of the world as a counter-effect in favour of inte-rest paid to the rest of the world.

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Tables

1. Volume indices of gross domestic product and

per capita gross domestic product, 1995– .................................................................. 5

2. Gross value added by industries, 1995–2008.................................................................6

3. Gross value added by sectors, 2007–2008.....................................................................7

4. Output by industries, 2007–2008 ..................................................................................8

5. Gross value added by industries, 2007–2008.................................................................9

6. The final use of gross domestic product, 1995–2008 ..................................................10

7. Gross domestic product by final use, 2007–2008 .........................................................12

8. Economic accounts by sectors, 2007............................................................................13

9. Economic accounts by sectors, 2008............................................................................16

10. Gross domestic product (GDP) and

gross national income (GNI) of Hungary, 1995–2008................................................. 19

1995 88.7 101.5 557 206 4 433 3 426 7 5891996 89.6 101.0 689 766 4 521 3 609 7 9991997 93.5 104.3 856 416 4 586 4 060 8 6141998 98.3 105.2 1 017 984 4 747 4 224 9 2611999 102.5 104.2 1 138 033 4 796 4 502 9 7452000 107.5 104.9 1 306 957 4 630 5 026 10 5362001 112.0 104.1 1 500 725 5 237 5 847 11 6482002 116.9 104.4 1 695 059 6 570 6 976 12 6132003 121.9 104.3 1 857 436 8 276 7 327 13 0282004 127.8 104.9 2 058 326 10 158 8 178 13 7332005 132.3 103.5 2 179 880 10 918 8 788 14 1982006 137.6 104.0 2 358 715 11 205 8 925 15 0022007 138.9 101.0 2 526 714 13 745 10 054 15 5732008 139.8 100.6 2 644 227 15 391 10 524 15 742 c)

a) ECU until 1998, euro from 1999.

c) Data estimated by EUROSTAT. b) Results of Eurostat's European Comparison Program.

in purchasing power paritiesb)

USD

at exchange rates

previous year=100.01990=100.0

Year

1. Volume indices of gross domestic product and per capita gross domestic product, 1995–2008

GDP volume indices Per capita GDP at current prices

euroa)

in HUF

-5-

Total economy Of which:(at purchasers' industries, total agriculture, mining, net

prices) (at basic prices) hunting, forestry manufacturing, taxesand fishing electricity, gas on products

and water supply and construction

1995 5 755 359 4 861 949 392 658 1 449 786 3 019 505 893 4101996 7 112 341 6 067 727 480 348 1 776 159 3 811 220 1 044 6141997 8 812 934 7 611 429 532 154 2 409 118 4 670 157 1 201 5051998 10 451 208 9 012 035 591 474 2 861 580 5 558 981 1 439 1731999 11 650 643 10 000 207 577 490 3 126 600 6 296 117 1 650 4362000 13 345 301 11 379 943 617 867 3 620 239 7 141 837 1 965 3582001 15 288 748 13 193 653 691 719 4 043 260 8 458 674 2 095 0952002 17 219 439 14 912 279 688 512 4 453 386 9 770 381 2 307 1602003 18 814 994 16 109 808 691 707 4 784 421 10 633 680 2 705 1862004 20 803 797 17 741 125 855 778 5 399 595 11 485 752 3 062 6722005 21 988 587 18 829 478 791 437 5 686 641 12 351 400 3 159 1092006 23 755 487 20 510 283 823 385 6 201 766 13 485 132 3 245 2042007 25 408 080 21 755 966 864 309 6 486 180 14 405 477 3 652 1142008 26 543 252 22 613 452 974 177 6 587 397 15 051 878 3 929 800

1996 101.0 102.5 104.5 101.7 102.6 x1997 104.3 104.5 98.9 110.4 102.5 x1998 105.2 105.4 99.2 106.5 105.5 x1999 104.2 104.2 103.3 107.0 102.8 x2000 104.9 104.3 96.9 106.5 104.0 x2001 104.1 103.9 116.2 101.6 104.0 x2002 104.4 104.0 90.1 103.7 105.3 x2003 104.3 104.0 99.8 104.5 104.1 x2004 104.9 105.2 154.0 104.5 102.3 x2005 103.5 103.4 96.1 102.7 104.3 x2006 104.0 104.2 93.5 105.3 104.3 x2007 101.0 100.8 78.7 104.0 100.6 x2008 100.6 100.9 154.3 99.7 98.2 x

Volume indices (previous year=100.0)

2. Gross value added by industries, 1995–2008

Gross value added at current prices, million HUF

Of which:

Yearservices

7

2007

S.11 Non-financial corporations 12 805 542 58.9 103.8 S.12 Financial corporations 869 495 4.0 100.0 S.13 General government 3 709 338 17.0 95.6 S.14 Households 4 122 279 18.9 96.4 S.15 NPISHs 249 312 1.1 105.0

GROSS VALUE ADDED 21 755 966 100.0 100.8

Taxes less subsidies on products 3 652 114 x x

GROSS DOMESTIC PRODUCT (at purchasers' prices) 25 408 080 x 101.0

2008

S.11 Non-financial corporations 13 330 733 59.0 102.2 S.12 Financial corporations 887 343 3.9 97.2 S.13 General government 3 899 692 17.2 97.0 S.14 Households 4 228 798 18.7 101.1 S.15 NPISHs 266 886 1.2 98.5

GROSS VALUE ADDED 22613452 100.0 100.9

Taxes less subsidies on products 3 929 800 x x

GROSS DOMESTIC PRODUCT (at purchasers' prices) 26 543 252 x 100.6

Volume indicesprevious year

=100.0

3. Gross value added by sectors, 2007–2008

million HUF structure, %

Code

At current prices

Sectors

-7-

A+B Agriculture, hunting, forestry and fishing 2 141 514 4.0 92.1 2 450 771 4.3 123.5C+D+E Mining, manufacturing, electricity 23 472 443 43.6 105.8 24 579 368 43.3 100.2

C Mining and quarrying 134 212 0.2 92.7 144 931 0.3 103.7D Manufacturing 21 206 278 39.4 106.4 21 897 309 38.6 99.9E Electricity, gas, steam and water supply 2 131 953 4.0 100.4 2 537 128 4.5 103.2F Construction 2 590 312 4.8 92.7 2 639 376 4.6 96.4G Wholesale and retail trade; repair 5 350 748 9.9 101.1 5 526 364 9.7 97.8H Hotels and restaurants 889 915 1.7 101.6 928 170 1.6 98.3I Transport, storage and communications 3 550 278 6.6 105.7 4 105 004 7.2 108.7J Financial intermediation 1 849 263 3.4 97.5 1 937 327 3.4 100.1K Real estate, business activities 6 546 675 12.2 103.2 6 855 630 12.1 99.8

L+M+N Public administration, education, health 5 452 531 10.1 95.9 5 747 571 10.1 98.3L Public administration and defence,

compulsory social security 2 542 351 4.7 96.0 2 735 204 4.8 100.6M Education 1 435 668 2.7 97.2 1 455 168 2.6 95.0N Health and social work 1 474 512 2.7 94.3 1 557 199 2.7 97.7O Other community, personal service activities 1 956 450 3.6 102.5 2 004 674 3.5 95.4

A...O OUTPUT TOTAL (at basic prices) 53 800 129 100.0 102.3 56 774 255 100.0 100.8

Taxes less subsidies on products 3 652 114 x x 3 929 800 x x OUTPUT (at purchasers' prices) 57 452 243 x 102.3 60 704 055 x 100.7

4. Output by industries, 2007–2008

structure, %

structure, %

volume indices,

2006 =100.0

2008

at current prices at current prices volume indices,

2007 =100.0

Industries

NACECodeNACE

Rev.1.1

2007

million HUF million HUF

-8-

A+B Agriculture, hunting, forestry and fishing 864 309 4.0 78.7 974 177 4.3 154.3C+D+E Mining, manufacturing, electricity 5 480 406 25.2 106.0 5 542 643 24.5 100.4

C Mining and quarrying 39 953 0.2 87.1 39 925 0.2 104.3D Manufacturing 4 830 406 22.2 106.9 4 845 111 21.4 100.0E Electricity, gas, steam and water supply 610 047 2.8 98.9 657 607 2.9 102.8F Construction 1 005 774 4.6 93.3 1 044 754 4.6 96.4G Wholesale and retail trade; repair 2 518 325 11.6 104.0 2 643 716 11.7 97.5H Hotels and restaurants 354 582 1.6 103.8 358 671 1.6 97.9I Transport, storage and communications 1 782 092 8.2 105.1 1 883 346 8.3 100.8J Financial intermediation 923 433 4.2 94.2 943 106 4.2 97.0K Real estate, business activities 3 966 063 18.2 102.2 4 105 211 18.2 98.9

L+M+N Public administration, education, health 3 856 091 17.7 96.1 4 079 510 18.0 98.0L Public administration and defence,

compulsory social security 1 828 508 8.4 96.8 1 996 007 8.8 101.4M Education 1 103 105 5.1 98.1 1 115 751 4.9 94.6N Health and social work 924 478 4.2 92.2 967 752 4.3 95.3O Other community, personal service activities 1 004 891 4.6 103.0 1 038 318 4.6 94.2

GROSS VALUE ADDED 21 755 966 100.0 100.8 22 613 452 100.0 100.9

Taxes less subsidies on products 3 652 114 x x 3 929 800 x x

GROSS DOMESTIC PRODUCT ( at purchasers' prices ) 25 408 080 x 101.0 26 543 252 x 100.6

5. Gross value added by industries, 2007–2008

million HUF

structure, %

million HUF

structure, %

2007

at current prices

2008

volume indices 2007

=100.0

volume indices 2006

=100.0

at current prices

Industries

NACECodeNACE

Rev.1.1

-9-

actual final actual final actual final gross capital

consumption, comsumption comsumption formation andtotal of households of government statistical

discrepancy

1995 5 738 657 4 468 364 3 836 754 631 610 1 270 2941996 7 065 756 5 242 165 4 512 818 729 347 1 823 5911997 8 712 468 6 351 417 5 437 021 914 396 2 361 0511998 10 595 699 7 519 042 6 463 481 1 055 561 3 076 6561999 11 957 072 8 692 838 7 485 182 1 207 656 3 264 2342000 13 835 571 9 906 921 8 526 952 1 379 969 3 928 6502001 15 476 853 11 375 929 9 808 047 1 567 882 4 100 9242002 17 555 966 13 154 314 11 355 025 1 799 289 4 401 6522003 19 553 072 14 930 941 12 946 873 1 984 068 4 622 1312004 21 491 238 15 995 086 13 926 898 2 068 188 5 496 1522005 22 394 523 17 132 809 14 960 626 2 172 183 5 261 7142006 23 920 656 18 223 381 15 793 375 2 430 006 5 697 2762007 25 008 122 19 034 809 16 558 936 2 475 873 5 973 3122008 26 283 860 20 074 940 17 437 296 2 637 644 6 208 920

1996 100.1 96.7 96.8 96.5 111.81997 104.9 101.1 101.2 100.1 115.71998 108.5 103.3 103.7 100.5 122.51999 105.1 105.0 105.3 102.8 105.32000 104.2 103.2 103.7 100.2 106.92001 102.2 105.5 106.2 100.9 94.12002 106.5 109.3 109.9 105.5 98.72003 106.3 107.4 108.0 104.1 102.82004 104.4 102.7 103.1 99.9 109.92005 101.0 102.9 103.4 99.9 95.42006 101.7 102.3 101.9 104.9 99.82007 98.8 98.0 98.4 95.7 101.32008 100.7 99.4 99.4 99.7 104.8

Of which:


Totaldomestic use

At current prices (million HUF)

6. The final use of gross domestic product, 1995–2008

Year

of which:

-10-

1 183 557 86 736 2 586 637 2 569 936 16 701 19951 505 815 317 776 3 429 131 3 382 546 46 585 19961 879 215 481 837 4 803 265 4 702 799 100 466 19972 333 309 743 347 6 338 275 6 482 766 -144 491 19982 683 430 580 804 7 383 079 7 689 508 -306 429 19993 127 478 801 172 9 749 989 10 240 259 -490 270 20003 518 284 582 640 10 856 071 11 044 177 -188 106 20013 975 357 426 296 10 820 458 11 156 985 -336 527 20024 190 036 432 095 11 496 600 12 234 678 -738 078 20034 677 784 818 369 13 080 474 13 767 915 -687 441 20045 065 873 195 842 14 511 000 14 916 936 -405 936 20055 161 277 535 999 18 329 729 18 494 898 -165 169 20065 380 543 592 770 20 443 757 20 043 798 399 959 20075 559 088 649 832 21 804 934 21 545 542 259 392 2008

103.8 x 111.1 109.1 x 1996106.5 x 120.9 122.3 x 1997111.5 x 116.5 122.9 x 1998106.0 x 111.1 112.3 x 1999107.2 x 119.7 118.0 x 2000104.7 x 108.1 105.3 x 2001110.5 x 103.9 106.8 x 2002102.1 x 106.2 109.3 x 2003107.9 x 115.0 113.7 x 2004105.7 x 111.3 107.0 x 2005

96.4 x 118.6 114.8 x 2006101.6 x 116.2 113.3 x 2007100.4 x 105.6 105.7 x 2008

Year

Of which::


of which:

At current prices (million HUF)

gross fixed capital formation

changes in inventories

and statistical discrepancy

External balance of goods

and services

6. The final use of gross domestic product, 1995–2008 (continued)

Exports Imports

-11-

million HUF

structure, %

million HUF

structure, %

Household final consumption expenditure (1) 13 254 855 52.2 100.3 13 919 423 52.4 99.5Government final consumption expenditure (2) 5 390 763 21.2 92.6 5 743 139 21.6 99.2Final consumption expenditure of non-profit institutions serving households (3) 389 191 1.5 101.7 412 378 1.6 99.3

Final consumption expenditure, total (4=1+2+3) 19 034 809 74.9 98.0 20 074 940 75.6 99.4

Social transfers in kind (5) 3 304 081 13.0 91.3 3 517 873 13.3 98.8Of which: from government (6) 2 914 890 11.5 90.0 3 105 495 11.7 98.8

non-profit institutions serving households (7=3) 389 191 1.5 101.7 412 378 1.6 99.3

Actual final consumption of households (8=1+6+7) 16 558 936 65.2 98.4 17 437 296 65.7 99.4

Actual final consumption of government (9=2-6) 2 475 873 9.7 95.7 2 637 644 9.9 99.7

Actual final consumption, total (10=4) 19 034 809 74.9 98.0 20 074 940 75.6 99.4

Gross fixed capital formation (11) 5 380 543 21.2 101.6 5 559 088 20.9 100.4Changes in inventories (12) 121 005 0.5 x 285 664 1.1 xStatistical discrepancy (13) 471 765 1.9 x 364 168 1.4 x Gross capital formation, total (14=11+12+13) 5 973 312 23.5 101.3 6 208 920 23.4 104.8

Domestic use, total (15=4+14) 25 008 122 98.4 98.8 26 283 860 99.0 100.7

Exports (16) 20 443 757 80.5 116.2 21 804 934 82.1 105.6Imports (17) 20 043 798 78.9 113.3 21 545 542 81.2 105.7 External balance of goods and services (18=16-17) 399 958 1.6 x 259 392 1.0 x

GDP total (19=15+18) 25 408 080 100.0 101.0 26 543 252 100.0 100.6

7. Gross domestic product by final use, 2007–2008

at current prices at current prices volume indices2007

=100.0

volume indices2006

=100.0

Denomination

2007 2008

-12-

(HUF million)

P.7 Imports of goods and services 20 043 798P.71 Imports of goods 17 141 832P.72 Iports of services 2 901 966P.6 Exports of goods and services 20 443 756P.61 Export of goods 17 199 524P.62 Export of services 3 244 232P.1 Output 39 923 105 1 758 985 5 404 565 6 713 474P.11 Market output 39 675 212 1 758 377 3 288 4 523 435P.12 Output for own final use 247 893 608 7 366 1 664 168P.13 Other non-market output 5 393 911 525 871P.131 Payments for other non-market output 730 013P.132 Other non-market output, other 4 663 898P.2 Intermediate consumption 27 117 563 889 490 1 695 227 2 341 883D.21-D.31 Taxes less subsidies on production 3 652 114B.1g Value added (gross) (P.1-P.2) 12 805 542 869 495 3 709 338 4 371 591B.11 External balance of goods and services -399 958K.1 Consumption of fixed capital 2 065 765 68 193 789 664 792 812B.1n Value added (net) (B.1g-K.1) 10 739 777 801 302 2 919 674 3 578 779

B.1 n Value added (net) (B.1g-K.1) 10 739 777 801 302 2 919 674 3 578 779B.11 External balance of goods and services -399 958

D.1 Compensation of employees, total 7 507 878 507 367 2 921 037 776 745D.11 Wages and salaries 5 903 825 370 914 2 170 574 675 271D.12 Employers' social contributions 1 604 053 136 453 750 463 101 474D.21 Taxes on products 3 892 640D.29 Other taxes on production 158 373 3 540 8 400D.31 Subsidies on products 240 526D.39 Other subsidies on production 194 973 3 392 114 380

B.2 n Operating surplus, net 3 268 499 293 787 -1 363 643 550B.3n Mixed income, net 2 264 464

Non sectorized

Rest of the world

Housholds and

NPISHs

Financial corpo-ration

General govern-

ment

Non-financial

corporation

8. Economic accounts by sectors, 2007

Generation of income account

ESAcode

Production account / external account

Denomination

-13-

(HUF million)

B.2 n Operating surplus, net 3 268 499 293 787 -1 363 643 550B.3n Mixed income, net 2 264 464D.1 Compensation of employees, total 11 903 587D.11 Wages and salaries 9 255 334D.12 Employers' social contributions 2 648 253D.21 Taxes on products 3 805 304 87 336D.29 Other taxes on production 170 313D.31 Subsidies on products 213 207 27 319D.39 Other subsidies on production 141 656 171 089

D.4 Property income, received (+) 2 430 931 2 490 998 230 767 1 216 257 3 997 512D.4 Property income, paid (-) 4 414 997 2 558 684 1 026 277 477 773 1 888 734

B.5 n Balance of primary incomes, net 1 284 433 226 101 2 823 881 15 550 085


D.5 Current taxes on income, wealth 582 391 118 077 2 584 754 1 930 288 46 002D.61 Social contribution 28 556 544 931 3 465 398 4 137 696 98 811D.611 Actual social contribution 542 622 3 444 285 4 085 718 98 811D.612 Imputed social contributions 28 556 2 309 21 113 51 978D.62 Social benefits other than social transfer in kind 30 084 182 620 3 870 414 4 085 141 -2 023D.7 Other current transfers, net 49 386 -59 -492 734 376 892 66 515

B.6 n Disposable income, net 749 900 470 276 4 510 885 13 944 134

Allocation of primary income account

8. Economic accounts by sectors, 2007 (continued)

Housholds and

NPISHs

Rest of the world

Secondary distribution of income account

General govern-

ment

Non sectorized

ESAcode Denomination

Non-financial

corporation


-14-

(HUF million)

B.6n Disposable income, net 749 900 470 276 4 510 885 13 944 134D.63 Social transfers in kind 2 914 890 2 914 890B.7n Adjusted disposable income, net 749 900 470 276 1 595 995 16 859 024

B.6n Disposable income, net 749 900 470 276 4 510 885 13 944 134P.4 Actual final consumption 2 475 873 16 558 936P.3 Final consumption expenditure 5 390 763 13 644 046D.8 Adjustment for the change in net equity

of households in pension funds reserves 362 311 362 311B.8n Saving, net 749 900 107 965 -879 878 662 399B.12 Current external balance 1 616 493

B.8n Saving, net 749 900 107 965 -879 878 662 399B.12 Current external balance 1 616 493P.51 Gross fixed capital formation 3 104 442 114 030 904 012 1 258 059P.52 Changes in inventories** 111 623 503 8 879 471 765K.1 Consumption of fixed capital 2 065 765 68 193 789 664 792 812K.2 Acquisitions less disposals of non-produced 6 943 -6 943

non-financial assetsD.9 Capital transfers, receivable (+) 391 589 9 249 215 024 183 974 20 937D.9 Capital transfers, payable (-) 40 684 5 835 477 448 50 056 246 750B.9 Net lending(+) / net borrowing(-) -49 495 65 542 -1 264 096 322 191 1 390 680 -464 822

Capital account

Redistribution of income in kind account

Use of income account



Non-financial

corporation


General govern-

ment

Housholds and

NPISHs

Rest of the world

Non sectorized

-15-

(HUF million)

P.7 Imports of goods and services 21 545 542P.71 Imports of goods 18 320 795P.72 Iports of services 3 224 747P.6 Exports of goods and services 21 804 934P.61 Export of goods 18 300 973P.62 Export of services 3 503 961P.1 Output 42 166 984 1 846 126 5 784 415 6 976 730P.11 Market output 41 897 725 1 845 370 3 001 4 814 785P.12 Output for own final use 269 259 756 7 300 1 603 690P.13 Other non-market output 5 774 114 558 255P.131 Payments for other non-market output 769 368P.132 Other non-market output, other 5 004 746P.2 Intermediate consumption 28 836 251 958 783 1 884 723 2 481 046D.21-D.31 Taxes less subsidies on production 3 929 800B.1g Value added (gross) (P.1-P.2) 13 330 733 887 343 3 899 692 4 495 684B.11 External balance of goods and services -259 392K.1 Consumption of fixed capital 2 184 191 77 410 836 900 848 198B.1n Value added (net) (B.1g-K.1) 11 146 542 809 933 3 062 792 3 647 486

B.1 n Value added (net) (B.1g-K.1) 11 146 542 809 933 3 062 792 3 647 486B.11 External balance of goods and services -259 392

D.1 Compensation of employees, total 7 970 897 541 077 3 064 272 778 420D.11 Wages and salaries 6 313 781 411 478 2 265 509 667 887D.12 Employers' social contributions 1 657 116 129 599 798 763 110 533D.21 Taxes on products 4 065 362D.29 Other taxes on production 161 372 11 006 9 363D.31 Subsidies on products 135 562D.39 Other subsidies on production 256 792 3 512 139 512

B.2 n Operating surplus, net 3 271 065 261 362 -1 480 649 106B.3n Mixed income, net 2 350 109

Generation of income account

Production account / external account

Housholds and

NPISHs

Rest of the world

Non sectorized

9. Economic accounts by sectors, 2008


Non-financial

corporation


General govern-

ment

-16-

(HUF million)

B.2 n Operating surplus, net 3 271 065 261 362 -1 480 649 106B.3n Mixed income, net 2 350 109D.1 Compensation of employees, total 12 549 781D.11 Wages and salaries 9 793 661D.12 Employers' social contributions 2 756 120D.21 Taxes on products 3 971 248 94 114D.29 Other taxes on production 181 741D.31 Subsidies on products 101 423 34 139D.39 Other subsidies on production 200 922 198 894

D.4 Property income, received (+) 2 772 307 2 856 057 296 507 1 117 282 4 255 799D.4 Property income, paid (-) 4 812 983 2 764 702 1 099 622 480 552 2 140 093



D.5 Current taxes on income, wealth 605 670 89 236 2 802 273 2 156 911 49 544D.61 Social contribution 33 185 599 946 3 682 081 4 424 281 109 069D.611 Actual social contribution 598 907 3 658 931 4 366 907 109 069D.612 Imputed social contributions 33 185 1 039 23 150 57 374D.62 Social benefits other than social transfer in kind 34 426 129 325 4 215 215 4 386 103 -7 137D.7 Other current transfers, net 28 623 -6 982 -479 544 310 347 147 556

B.6 n Disposable income, net 652 101 727 120 4 835 644 14 300 984

Allocation of primary income account

Secondary distribution of income account

Rest of the world

Non sectorized



Non-financial

corporation


General govern-

ment

Housholds and

NPISHs

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(HUF million)

B.6n Disposable income, net 652 101 727 120 4 835 644 14 300 984D.63 Social transfers in kind 3 105 495 3 105 495B.7n Adjusted disposable income, net 652 101 727 120 1 730 149 17 406 479

B.6n Disposable income, net 652 101 727 120 4 835 644 14 300 984P.4 Actual final consumption 2 637 644 17 437 296P.3 Final consumption expenditure 5 743 139 14 331 801D.8 Adjustment for the change in net equity

of households in pension funds reserves 470 621 470 621B.8n Saving, net 652 101 256 499 -907 495 439 804B.12 Current external balance 1 821 312

B.8n Saving, net 652 101 256 499 -907 495 439 804B.12 Current external balance 1 821 312P.51 Gross fixed capital formation 3 312 305 114 280 750 593 1 381 911P.52 Changes in inventories** 288 394 -116 -2 614 364 168K.1 Consumption of fixed capital 2 184 191 77 410 836 900 848 198K.2 Acquisitions less disposals of non-produced -52 565 28 208 24 357

non-financial assetsD.9 Capital transfers, receivable (+) 348 081 13 105 184 596 175 244 6 269D.9 Capital transfers, payable (-) 25 578 8 910 408 550 40 250 244 007B.9 Net lending(+) / net borrowing(-) -441 904 223 824 -992 461 43 699 1 555 366 -388 525

Capital account

Redistribution of income in kind account

Use of income account



Non-financial

corporation


General govern-

ment

Housholds and

NPISHs

Rest of the world

Non sectorized

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1995 5 755 359 77 625 37 957 39 668 107 263 333 722 -226 459 1 647 -25 371 27 018 5 568 568 x1996 7 112 341 85 561 44 549 41 012 149 531 455 793 -306 262 -306 77 881 -78 187 6 847 091 100.51997 8 812 934 109 566 54 798 54 768 172 745 684 237 -511 492 1 340 246 530 -245 190 8 356 210 102.71998 10 451 208 146 599 67 106 79 493 187 377 817 566 -630 189 -1 372 251 117 -252 489 9 900 512 105.11999 11 650 643 179 996 72 830 107 166 183 386 920 054 -736 668 -5 023 268 365 -273 388 11 021 141 104.12000 13 345 301 216 775 79 462 137 313 282 876 1 030 650 -747 774 16 538 297 325 -280 787 12 734 840 105.82001 15 288 748 243 760 92 972 150 788 275 969 1 154 399 -878 430 -12 926 372 695 -385 621 14 561 106 103.92002 17 219 439 232 519 117 074 115 445 256 387 1 242 887 -986 500 6 796 462 941 -456 145 16 348 384 104.12003 18 814 994 292 399 137 102 155 297 253 036 1 261 388 -1 008 352 19 714 463 998 -444 284 17 961 939 104.82004 20 803 797 334 099 146 895 187 204 331 190 1 628 974 -1 297 784 99 751 556 192 -456 441 38 298 80 532 19 735 451 104.22005 21 988 587 370 354 162 681 207 673 351 845 1 835 631 -1 483 786 23 480 471 787 -448 307 64 298 141 302 20 789 478 103.22006 23 755 487 423 744 183 247 240 497 1 286 749 3 021 138 -1 734 389 275 183 669 123 -393 940 66 901 185 199 22 379 893 103.62007 25 408 080 407 510 216 950 190 560 1 888 734 3 997 512 -2 108 778 692 751 1 246 359 -553 608 87 336 198 408 23 600 934 99.62008 26 543 252 438 889 243 774 195 115 2 140 093 4 255 799 -2 115 706 753 176 947 234 -194 058 94 114 233 033 24 761 580 101.1

10. Gross domestic product (GDP) and gross national income (GNI) of Hungary, 1995–2008

at current prices, million HUF

of which:

Year

Compensation of employees Property income

reinvested earnings on direct foreign investment

net

receivable from the

rest of the world

payable to the rest

of theworld

GDPreceived from the

rest of the world

paid to the rest

of theworld

net

received from the

rest of the world

paid to the rest

of theworld

net

The volume indices of GNI

previous year=100.0

GNISubsides from the EU

Taxes to the EU

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www.ksh.hu

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Methodological notes

At the time of the preliminary national accounts estimations for 2008, data sources necessary for the calculations are not fully complete. Next estimates for 2008 on the basis of comprehensive information will be published in September 2010. The publication including detailed data of homogeneous time series (1995-2007) will be published later this year. The updated tables in the Stadat (predefined tables) and in the publication database will be available soon at HCSO’s website.

The system of national accounts is a system of macroeconomic statistical accounts sum-marising the country’s economic activities by comparing the production of goods with their use. The methodology of HCSO follows the articles of European System of Accounts (ESA’95) and its amendments based on the integrated system prepared by the agency of the United Nations, Eurostat, IMF, OECD and the World Bank (System of National Ac-counts, SNA’93). Accordingly, it is harmonized with the methodology used in EU Member States.

Glossary on terms

Output consists of goods and services that are produced within an institutional unit to be purchased by other institutional units and of those that are produced for own final use. It is valued at basic prices in the national accounts.

The (real) holding gain/loss on a given quantity of an asset (inventories, fixed assets, financial assets etc.) is defined as the change in the value for the owner of that asset as a result of a change in its price over/below the change in the general price level.

Intermediate consumption consists of the value of goods and services consumed as in-puts in the process of production, excluding the consumption of fixed capital. These inputs are purchased from other units. Intermediate consumption is valued at market prices. Gross domestic product is a concept of value added. It is the sum of gross value added of all resident producers (institutional sectors or industries) measured at basic prices, plus the balance of taxes and subsidies on products, which cannot be divided among the indus-tries or sectors. So GDP is an aggregate value at market prices. GDP can be defined by three approaches: – by production approach it is: + the sum of gross value added at basic prices

+ taxes on products – subsidies on products

– by expenditure approach it is: + final consumption expenditure of households + final consumption expenditure of government + final consumption expenditure of non-profit institutions serving households + gross fixed capital formation

Gross domestic product (Preliminary estimation)

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+ changes in inventories + exports – imports

– by income approach it is 2 + wages and salaries + employers’ social contributions – other subsidies on production + other taxes on production + gross operating surplus and mixed income + taxes on products – subsidies on products

Statistical discrepancy is the difference between GDP estimates by different approaches (between production and expenditure approaches etc.). Taxes less subsidies on products is the difference between taxes and subsidies con-nected with the acquisition, sale and any other transfers of goods and services (i.e. cus-toms duties, consumption tax, value added tax, producer price subsidy and consumer price subsidy). Household consumption comprises the value of goods and services meeting the per-sonal consumption requirements of households resident in Hungary. The sources of fi-nancing are household consumption expenditure, social transfers from the general gov-ernment and social transfers in kind from non-profit institutions serving households.

Collective consumption is a part of total final consumption which is intended to satisfy collective needs or needs of large sections of the community. This type of consumption should be financed exclusively by the general government sector due to the definition of the concept.

Final consumption is the value of goods and services consumed by households and the community independently of the source of financing.

Gross fixed capital formation: includes the value of purchased or own-produced tangible fixed assets and intangible fixed assets, the increase of used assets in value terms, the value of own-account production of fixed assets, capital transfer in kind from abroad and rental paid for financial leasing. Gross fixed capital formation is not reduced by the consumption of fixed capital (annual depreciation of the capital stock). Consumption of fixed capital: represents the amount of fixed assets used up during the considered period as a result of normal wear and tear and foreseeable obsolescence. Gross capital formation is the sum of gross fixed capital formation and change in inventories. Change in inventories: the value of change in the own-produced and purchased inventories of each sector, which occurs during the accounting period. External trade turnover is the export and import turnover of goods and services. Turnover of goods comprises general turnover based on foreign trade statistics (including the turnover between industrial customs free zones and the rest of the world), repair charges, and inward and outward processing. The turnover of services includes tourism as 2 Data in this publication were estimated by two approaches (production and use).

www.ksh.hu

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well as the balance of re-exports and re-imports. The external trade balance is the balance of export and import turnover of goods and services of the national economy. Prices used. The basic price is the amount receivable by the producer from the purchaser for a unit of a good or service produced as output minus any tax payable and plus any subsidy receivable on that unit as a consequence of its production or sale. Purchasers’ price is the amount actually paid by the purchaser, excluding any deductible VAT or similar deductible taxes. (It means it excludes taxes on purchased goods and services that are acquired for intermediate consumption and subsidies on products.) Gross national income (GNI) is equal to GDP less primary income payable to non-resident units plus primary income receivable from non-resident units and the balance of subsidies receivable from the EU and taxes payable to the EU. While GDP is a concept of value added, GNI is a concept of income (primary income). GNI = + gross domestic product (GDP) + primary income receivable from non-resident economic units – primary income payable to non-resident economic units – taxes payable to the EU

+ subsidies receivable from the EU Primary incomes are incomes that accrue to institutional units as a consequence of their involvement in the process of production or of their ownership of assets that may be needed for purposes of production (e.g. compensation of employees, dividends on invested capital, interest, etc.). Non-financial corporations sector covers all the corporations with and without legal en-tity, except sole proprietors. It includes those non-profit institutions, too, whose principal activity is mainly the production of market goods or non-financial services and so their costs are financed from their sales receipts. Financial corporations sector consists of all corporations principally engaged in financial intermediation. i.e. the National Bank of Hungary, commercial banks, savings co-operatives, credit co-operatives, specialized credit institutions, financial enterprises dealing with financial leasing, other credit-granting corporations, private pension funds, voluntary mutual pension funds, health and income-replacement funds, insurance companies, insur-ance unions, investment fund managers, security dealers etc. General government sector covers the units mainly financed by the budgets of the central government and local governments, extra-budgetary funds and social security funds. It also includes those non-profit institutions which are mainly financed by the state budget and public companies carrying out non-market activities ( MNV Zrt., NIF Zrt., ÁAK Zrt), as well. Household sector covers the activities of households both as consumers and, where ap-propriate, as producers. The latter category includes sole proprietors, production of households for their own final use and housing services by owner-occupied dwellings.

Non-profit institutions serving households sector includes those non-profit institutions that are not controlled directly by the government and are mainly financed by fees and other contributions obtained mostly from private resources. Constant price estimations are calculated at the prices of previous years.

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Methodological improvements introduced with the second estimate for 2008

In January 2008 and 2009, during the GNI information visit of Eurostat, some meth-odological improvements were requested in order to better meet the requirements of ESA and other EU legislation. In response to this, five methodological improvements have been introduced. Furthermore, - in addition to the regular corrections of data – two other improvements have been made. I. Methodological improvements

1. Exclusion of holding gains and losses on inventories

The (real) holding gain/loss on a given quantity of an asset is defined as the change in the value for the owner of that asset as a result of a change in its price over/below the change in the general price level.

In line with the international requirements, the estimation of holding gains on

inventories is based on quarterly data. Quarterly data on opening and closing stocks from the bookkeeping of enterprises are deflated to the price level of the previous year with the aid of monthly producer price indices at two digit level breakdown of NACE. The difference between the resulting constant-price closing and opening stock equals the change in stock at constant prices. The change in stock at constant prices is inflated with the quarterly average price index. This way we have the change in inventories at current prices. The difference between the change in inventories at current prices and the change in stock at book value is equal to holding gain/loss. Holding gain/loss is eliminated only from the ‘current price’ bookkeeping data, hence the volume index of GDP is not affected (because for the calculation of volume indices, weights of the previous year are used and the values at the prices of the previous year are divided by the current price data of the base year).

2. Exclusion of holding gains/losses from insurance technical reserves at insurance corporations

When recording output of insurance services, according to ESA95 not only actual

premiums and claims due in the accounting period but also property income attributed to policy holders earned from the investment of insurance technical reserves and changes in these reserves are taken into account. In the case of both the property income and the changes in technical reserves holding gains/losses have been eliminated.

For this item, the changes are not intended to be backcasted before 2002, because

the legislation prevailing in this period allowed only such a very strict investment policy for

- 24 -

the insurance companies which resulted in very low (smaller than one billion HUF per year) holding gain or loss.

This methodological improvement has a neglible effect on the level of GDP in some years, however during three years it has an increasing effect of 22-25 billion HUF.

Elimination of holding gain or loss had an effect on output values, as well. Since the

output of insurance companies should be allocated to user sectors, it changed the households consumption expenditures, too. Benefiting from the experiences of the compilation of supply and use tables, we made corrections to the households consumption data in order to equilibrate the production and expenditure sides of GDP.

3. Imputation of operating surplus for own account GFCF (mark up)

The aim of this methodological improvement is to value the own account GFCF at market prices instead of the cost-based method applied in the bookkeeping. For having this correction done, the estimated cost-based figures had to be raised with the amount of the average operating surplus of similar market investments. In order to gain the ‘mark up’ the average operating income/operating cost ratios were calculated at 4 digit level of NACE using the data from the business statistics surveys and the corporate tax returns. The cost-based figures were raised with this ratio. This methodological improvement increases the level of the GDP at current prices, but has no significant effect on GDP volumes.

4. Recording of entertainment, literary, and artistic originals in the national accounts /production, capital formation/

Entertainment, literary and artistic originals (henceforth: “originals”) are recorded as

output at the production side and as own account gross fixed capital formation (GFCF) at the expenditure side of GDP. Until now, these artistic works weren’t completely recorded in Hungarian national accounts. They were not accounted for at the production side, while GFCF data at the production side partly covered them. Hence this improvement modified the two sides of GDP on a different way. We included estimates of entertainment, literary and artistic originals for TV and radio programmes, films, musical works and books. It was necessary to define the valuation method for each group of originals (either measure by production costs, or by modelling of income (royalty flows) based on the recommendation of Eurostat. In the course of the elaboration of the methodology the practises of other EU countries were also taken into account.

In the case of the TV and radio programmes the values of originals are measured

by production costs, including a mark-up for operating surplus. Sources of data are the National Statistical Data Collection Programme OSAP 1175/08 and 1174/05 questionnaires.

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The values of films are estimated using the turnover and attendance data of Hungarian movies in cinemas. Source of data is the National Statistical Data Collection Programme OSAP 1454/08 questionnaire.

In the case of music works the estimates are based on the turnover data collected by Association of Hungarian Record Companies (MAHASZ), and the estimation of the royalty component in the purchaser’s price of music mediums.

The value of literature originals are estimated by modelling the royalty payments received by authors from sales of books. (sources of data are the annual reports of Association of Hungarian Publishers (MKKE) and HCSO data collection on sales)

5. Imputed rent for the holiday homes and garages

The output of imputed dwelling services are estimated according to the user cost

method. At the production side of GDP in the industry of Real estate activities, value added is calculated by deducting intermediate consumption from this output value. At the expenditure side of GDP, the total value of output is recorded as household consumption expenditure. For this estimation the consumption of fixed capital of owner-occupied dwellings, the expenditure on maintenance (without charges paid to public utility companies, with net insurance premium paid by owner occupants), the net value of dwelling stock and the imputed operating surplus of owner-occupied dwellings (based on an estimated rate for real return) are taken into account. The services of garages were already accounted indirectly in the estimation of owner-occupied dwelling services up to now. This value has been separated now, and the imputed rent on holiday homes was estimated and that of garages was re-estimated based on the data of the population census and dwelling statistics. Dwelling stock and the value of consumption of fixed capital were taken directly from the data of stock of fixed assets. The expenditures on maintenance were fully taken into account up to now, although they contained the expenditures charged for the holiday homes. These expenditures have been separated, and the imputed operating surplus by the user cost method was added. This new calculation method resulted in a GDP increase of 7–29 billion HUF at current prices.

II. Other changes

1. Correction of data on agricultural inventories

With the aim of further harmonisation between national accounts and agricultural accounts (EAA), the national accounts data have been replaced by the data of EAA at the expenditure side of GDP. At the production side EAA had already been taken into account earlier, therefore this correction does not effect GDP, but lowers the statistical discrepancy.

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2. Other corrections Besides the usual data corrections, as a result of the integration process of the

Supply and Use Tables in the national accounts, the mining royalties recorded as intermediate cost in the business accounting were reclassified as property income paid to central government, according to ESA’95 rules. In addition – however in lower magnitudes – the compulsory contribution fee to the storage of crude oil and crude oil products recorded as expenditure in the business accounting was reclassified as intermediate consumption, in line with ESA’95 rules. As a result of these corrections the GDP at current prices rose by an annually different amount of 11-111 billion HUF.

The tables below shows the effect of all the above changes on the GDP at current

prices.

Effect of the changes on the production side of GDP (at current prices, million HUF)

Year Holding gains or losses on inventories

Holding gains at

insurance corpora-

tions

Own account GFCF

(mark up)

Artistic originals

Imputed rent of garages,

holiday homes

Other changes

Total

1995 -173 312 0 4 570 4 835 6 969 16 583 -140 355

1996 -154 944 0 5 835 5 959 8 939 17 156 -117 055

1997 -131 369 0 7 599 7 290 11 010 16 709 -88 761

1998 -66 908 0 9 516 13 209 12 339 11 323 -20 521

1999 -146 075 0 9 341 14 171 14 572 11 313 -96 678

2000 -224 021 0 10 426 14 414 18 688 13 516 -166 977

2001 -13 163 0 9 503 20 278 20 367 13 394 50 379

2002 -2 062 2 298 6 739 27 988 21 652 14 375 70 990

2003 -184 596 2 377 8 842 23 153 22 941 27 333 -99 950

2004 -51 133 22 670 6 826 22 029 24 027 83 845 108 264

2005 -140 332 24 685 5 758 21 072 25 142 59 180 -4 495

2006 -214 879 24 709 6 888 24 844 27 267 111 389 -19 782

2007 -212 929 -471 5 870 16 417 29 272 90 516 -71 325

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Effect of the changes on the expenditure side of GDP

(at current prices, million HUF)

Changes in inventories Gross fixed capital formation Households consumption expenditures

Year holding gains and

losses

integration of EAA data on inventories

own account GFCF

(mark up)

artistic originals

imputed rent of

garages, holiday homes

holding gains at insurance

corporations

Other routine corrections

Statistical discrepancy

Total

1995 -173 308 -16 668 4 570 4 836 7 423 0 0 32 792 -140 355

1996 -154 944 -23 027 5 835 5 959 9 001 0 0 40 122 -117 055

1997 -131 370 -25 112 7 599 7 290 11 843 0 0 40 989 -88 761

1998 -66 909 -19 298 9 516 13 209 13 122 0 0 29 839 -20 521

1999 -146 073 -17 842 9 341 14 171 15 268 0 0 28 457 -96 678

2000 -224 021 -9 458 10 426 14 414 18 602 0 0 23 059 -166 977

2001 -13 163 -17 484 9 503 18 086 20 458 0 0 32 977 50 379

2002 -2 062 -16 696 6 739 24 158 21 771 2 298 1 695 33 087 70 990

2003 -184 585 -46 645 8 842 17 655 23 066 2 377 1 685 77 655 -99 950

2004 -51 133 -23 581 6 826 21 594 24 075 22 670 17 033 90 781 108 264

2005 -140 288 -8 882 5 758 19 907 25 252 24 685 0 69 074 -4 495

2006 -214 855 -1 786 6 888 23 578 27 385 24 709 0 114 299 -19 782

2007 -212 929 -40 292 5 870 15 604 29 407 -471 184 131 302 -71 325

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Compilation of homogeneous time series of national accounts back to 1995

The methodology for the compilation of national accounts of Hungary has improved continiously during the last ten years, mainly with the aim of fulfilling the changing and growing EU requirements. Most of the improvements introduced since 2000 have not been backcasted for the entire national accounts time series, but only back until the latest base year, 2000. According to the needs of domestic users and EU requirements, HCSO worked out a methodologically comparable time series of non financial accounts back until 1995.

Altogether 31 different methodological improvements were introduced until 2008,

which have been backasted until 1995. Out of these, fifteen had an effect on the production side, ten effected the expenditure side, four the income side and two the constant price calculations. Besides, some smaller corrections to the basic data were also made.

Out of the backcasted methodological changes three had a major effect on the level

and volume of GDP, and the consistency. Inclusion of illegal activities and the application of the new method for allocating financial intermediation services indirectly measured (FISIM) raised the level of GDP significantly. This latter had an effect also on the consistency, similarly to the 2000-2005 data. The change from indices with a fix base year to chain indices infuenced the volume indices.

The overall effect of homogenization (together with the improvements introduced in

2009) on GDP is shown in the following table.

Overal effect of the improvements on GDP, 1995–2007

Published in May

2009 Published in

September 2009 Difference Published in May 2009 Published in September 2009

at current prices, billion HUF % volume indicies, previous year=100.0

1995 5 614,0 5 755,4 141,4 2,5 1996 6 893,9 7 112,3 218,4 3,2 101,3 101,01997 8 540,7 8 812,9 272,2 3,2 104,4 104,31998 10 087,4 10 451,2 363,8 3,6 104,8 105,21999 11 393,5 11 650,6 257,1 2,3 103,9 104,22000 13 512,3 13 345,3 -167,0 -1,2 105,1 104,92001 15 238,4 15 288,7 50,3 0,3 104,1 104,12002 17 148,4 17 219,4 71,0 0,4 104,4 104,42003 18 914,9 18 815,0 -99,9 -0,5 104,3 104,32004 20 695,5 20 803,8 108,3 0,5 104,7 104,92005 21 993,1 21 988,6 -4,5 0,0 103,9 103,52006 23 775,3 23 755,5 -19,8 -0,1 104,0 104,02007 25 479,4 25 408,1 -71,3 -0,3 101,2 101,0

- 29 -

Explanations of symbols

.. = Not available. – = Break in series (limited comparability). x = Not applicable.

Empty space = Block of not applicable items. 0 = Less than half of unit.

Contact details:

Responsible editors: Dr. Pál Pozsonyi head of department

Péter Szabó head of department

Further information: Informationservices, telepfone: (06-1) 345-6789 fax: 345-6788

mailto:[email protected]

Documents

Gross domestic product, 2008 (Preliminary estimation)