Hungary's GDP grows 6.5 pct in Q2-Xinhua

Hungary's GDP grows 6.5 pct in Q2

Source: Xinhua| 2022-08-17 19:44:01|Editor: huaxia

BUDAPEST, Aug. 17 (Xinhua) -- Hungary's second-quarter (Q2) gross domestic product (GDP) increased by 6.5 percent year-on-year, the country's Central Statistics Office (KSH) said on Wednesday.

KSH said all industries contributed to the growth except agriculture.

Hungary's Minister of Finance Mihaly Varga said on Facebook that the 6.5-percent expansion in Q2 shows Hungary was able to improve its economic performance despite the protracted impacts of the Russia-Ukraine conflict.

While agriculture was affected by the drought, all other sectors, including industry, trade, tourism, finance, and info-communications, performed well in the quarter, Varga said, adding that the unemployment rate also stands at a record low of about 3 percent.

According to KSH, Hungary's Q2 GDP rose by 1.1 percent compared to the previous quarter. In the first half of the year, the country's economy expanded 7.3 percent year-on-year.