Hungary developing

If the NMP were converted into dollars at the World Bank rate for the forint that year, it would equal $19.8 billion, or about $1,880 per person. This compares with an NMP per person of about $2,390 in Poland, $2,730 in Czechoslovakia, and $4,340 in East Germany in 1975. Between 1950 and 1960 Hungary's NMP increased at an average annual rate of 4.9 percent; during this period industrial production grew about 6.8 percent annually and agricultural production only about 1.6 percent. From 1960 to 1974 the NMP grew at an average yearly rate of 5.8 percent: the respective figures for industry and agriculture were 6.9 percent and 1.2 percent. The share of Hungary's NMP increased at an average annual rate of 4.9 percent; during this period industrial production grew about 6.8 percent annually and agricultural production only about 1.6 percent. From 1960 to 1974 the NMP grew at an average yearly rate of 5.8 percent; the respective figures for industry and agriculture were 6.9 percent and 1.2 percent. The share of Hungary's NMP contributed by industry and agriculture has changed markedly since World War II. In 1938, for example, agriculture contributed 54 percent of the national income, while industry contributed only 37 percent. By 1955 agriculture contributed 31 percent and industry 53 percent. By 1976 the respective percentages for agriculture and industry were 13 percent and 46 percent. About 97 percent of Hungary's NMP is generated by the public sector of the economy, which includes both state-run and cooperative enterprises. Communist Hungary has consistently allotted the largest share of investment to industry; in 1975, for example, industry (including construction) received 37.7 percent of the total investment in the socialist sector, while agriculture received only 17.7 percent. Investment in the maintenance and expansion of fixed assets like industrial plants and machinery amounted to 21.9 percent of total investments.