Hungary Climbs Economic Rankings, Outpacing Italy and Poland
Hungary Maintains Strong Position in Economic Ranking, Surpassing Italy and Poland
The Oeconomus Economic Research Foundation has released an updated version of its Oeco-Index, a key indicator reflecting economic development, for the year 2025. This update utilizes the latest data from the World Bank for 2023 and 2024. According to the latest rankings, Hungary continues to hold its status among developed countries, securing the 35th position globally and the 18th position among European Union member states. Notably, Hungary outperforms several EU nations, including Romania, Poland, Italy, Latvia, and Slovakia.
In comparison to the previous year, based on 2022 data, Hungary fell one place in the world ranking from 34th to 35th, yet maintained its position at 18th in the EU. Péter Törcsi, Chairman of the Board of Trustees at the Oeconomus Economic Research Foundation, addressed the changes during a press event. He acknowledged that while Hungary dropped one rank, it still retains a commendable position among 164 countries.
Törcsi emphasized the Oeco-Index’s reflection of geopolitical tensions and armed conflicts, which have negatively impacted various countries’ rankings. He affirmed that the primary goal of the Oeco-Index is not solely to evaluate fluctuations in a single metric, but to track overall changes across multiple indicators, providing a more holistic view of a nation’s economic development and competitiveness.
The Oeco-Index is based on 25 sub-indicators that encompass economic, social, and political dimensions. These indicators are frequently published and drawn from the extensive World Bank database, allowing for broad cross-country comparisons. The methodological approach enables researchers to adjust the weighting of different factors, thereby enhancing the index’s comprehensiveness and relevance.
Furthermore, the Oeco-Index serves as a valuable resource for countries seeking to learn from best practices at the sub-indicator level. It not only measures development but also provides insights into the strategies employed by high-performing nations, facilitating knowledge transfer and adaptation.
In conclusion, Hungary’s consistent performance in the Oeco-Index showcases its resilience and competitive edge within the European Union, illustrating its ongoing commitment to economic advancement in the face of global challenges.
Source: Oeconomus Economic Research Foundation; Featured Photo: Hungary Today
