Hungary: Imitation Jewellery Market 2024

Imitation Jewellery Market Size in Hungary

In 2021, the Hungarian imitation jewellery market decreased by -6.2% to $X, falling for the second consecutive year after two years of growth. Over the period under review, consumption showed a perceptible decline. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Imitation Jewellery Production in Hungary

In value terms, imitation jewellery production expanded modestly to $X in 2021 estimated in export price. Overall, production, however, saw a perceptible shrinkage. The growth pace was the most rapid in 2016 with an increase of 11,335%. Imitation jewellery production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Imitation Jewellery Exports

Exports from Hungary

In 2021, shipments abroad of imitation jewelry increased by 11% to X tons, rising for the second year in a row after two years of decline. Overall, exports showed a resilient expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 297%. Over the period under review, the exports reached the peak figure at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, imitation jewellery exports rose markedly to $X in 2021. In general, exports posted a resilient increase. The most prominent rate of growth was recorded in 2017 when exports increased by 269% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Croatia (X tons), Slovakia (X tons) and Romania (X tons) were the main destinations of imitation jewellery exports from Hungary, together accounting for 50% of total exports. Iraq, Bulgaria, Serbia, Latvia, the UK, Slovenia, Italy, the Czech Republic, Poland and India lagged somewhat behind, together comprising a further 41%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Latvia (with a CAGR of +112.7%), while the other leaders experienced more modest paces of growth.

In value terms, Slovakia ($X), Romania ($X) and Croatia ($X) appeared to be the largest markets for imitation jewellery exported from Hungary worldwide, together comprising 43% of total exports. These countries were followed by Latvia, Iraq, Slovenia, Serbia, Bulgaria, the Czech Republic, Italy, Poland, the UK and India, which together accounted for a further 38%.

Among the main countries of destination, Latvia, with a CAGR of +113.8%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average imitation jewellery export price stood at $X per ton in 2021, remaining stable against the previous year. Over the period under review, the export price continues to indicate a deep reduction. The pace of growth appeared the most rapid in 2017 an increase of 52% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Poland ($X per ton), while the average price for exports to the UK ($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 the Czech Republic (+10.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imitation Jewellery Imports

Imports into Hungary

In 2021, purchases abroad of imitation jewelry decreased by -13.7% to X tons, falling for the fourth year in a row after three years of growth. Over the period under review, imports, however, showed a mild increase. The most prominent rate of growth was recorded in 2016 with an increase of 84% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, imitation jewellery imports expanded sharply to $X in 2021. Overall, imports continue to indicate a noticeable decline. The pace of growth was the most pronounced in 2019 with an increase of 39% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports failed to regain momentum.

Imports by Country

China (X tons), Germany (X tons) and Poland (X tons) were the main suppliers of imitation jewellery imports to Hungary, with a combined 89% share of total imports. Italy, Spain, Slovakia and Hong Kong SAR lagged somewhat behind, together comprising a further 6.8%.

From 2012 to 2021, the biggest increases were in Italy (with a CAGR of +33.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest imitation jewellery suppliers to Hungary were China ($X), Germany ($X) and Poland ($X), together comprising 74% of total imports. Hong Kong SAR, Spain, Slovakia and Italy lagged somewhat behind, together comprising a further 8.6%.

In terms of the main suppliers, Italy, with a CAGR of +8.7%, saw the highest rates of growth with regard to 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

In 2021, the average imitation jewellery import price amounted to $X per ton, increasing by 23% against the previous year. Over the period under review, the import price, however, recorded a noticeable curtailment. The pace of growth was the most pronounced in 2019 an increase of 46%. Over the period under review, average import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Hong Kong SAR ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+6.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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