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Oct 28, 2016

Hungary's industry output among the highest in Europe

People working in industry in Hungary accounted for 19.8 percent of the total number of employed

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.

MTI reports that 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 neighboring 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.

Those employed in public administration, defense, 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.