Hungary: Toy Market 2024

Toy Market Size in Hungary

In 2021, the Hungarian toy market decreased by -16.9% to $X, falling for the second year in a row after three years of growth. Over the period under review, consumption, however, recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market remained at a lower figure.

Toy Production in Hungary

In value terms, toy production fell sharply to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a deep reduction. The pace of growth appeared the most rapid in 2017 with an increase of 80%. Toy production peaked at $X in 2020, and then shrank significantly in the following year.

Toy Exports

Exports from Hungary

In 2021, overseas shipments of dolls and toys were finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. In general, total exports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +6.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, toy exports skyrocketed to $X in 2021. Over the period under review, total exports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +7.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The Czech Republic (X tons) was the main destination for toy exports from Hungary, accounting for a 42% share of total exports. Moreover, toy exports to the Czech Republic exceeded the volume sent to the second major destination, Poland (X tons), fourfold. Mexico (X tons) ranked third in terms of total exports with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the Czech Republic amounted to +3.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+8.2% per year) and Mexico (+14.1% per year).

In value terms, the Czech Republic ($X) remains the key foreign market for dolls and toys exports from Hungary, comprising 40% of total exports. The second position in the ranking was held by Poland ($X), with a 15% share of total exports. It was followed by Germany, with a 9.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the Czech Republic totaled +7.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+13.5% per year) and Germany (-1.5% per year).

Export Prices by Country

In 2021, the average toy export price amounted to $X per ton, declining by -13.7% against the previous year. In general, the export price, however, saw slight growth. The growth pace was the most rapid in 2020 when the average export price increased by 33% against the previous year. As a result, the export price attained the peak level of $X per ton, and then declined in the following year.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Luxembourg ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Denmark (+5.6%), while the prices for the other major destinations experienced more modest paces of growth.

Toy Imports

Imports into Hungary

In 2021, the amount of dolls and toys imported into Hungary skyrocketed to X tons, increasing by 27% compared with 2020 figures. Over the period under review, imports continue to indicate a remarkable increase. The growth pace was the most rapid in 2017 when imports increased by 30%. Imports peaked in 2021 and are likely to see gradual growth in years to come.

In value terms, toy imports soared to $X in 2021. Overall, imports saw strong growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Poland (X tons), China (X tons) and Slovakia (X tons) were the main suppliers of toy imports to Hungary, together comprising 67% of total imports. These countries were followed by Germany, Romania, the Czech Republic, Denmark, the Netherlands, Austria, France, Slovenia and Hong Kong SAR, which together accounted for a further 25%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Romania (with a CAGR of +45.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), China ($X) and Germany ($X) were the largest toy suppliers to Hungary, together comprising 62% of total imports. These countries were followed by the Czech Republic, Slovakia, Denmark, the Netherlands, Romania, Austria, France, Slovenia and Hong Kong SAR, which together accounted for a further 33%.

Among the main suppliers, Romania, with a CAGR of +31.1%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average toy import price stood at $X per ton in 2021, surging by 12% against the previous year. Overall, the import price, however, showed a pronounced decline. Over the period under review, average import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while the price for Romania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+18.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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