Hungary: Knitted Fabric Market 2024

Knitted Fabric Market Size in Hungary

For the fifth consecutive year, the Hungarian knitted fabric market recorded decline in sales value, which decreased by -70% to $X in 2021. Over the period under review, consumption continues to indicate a abrupt descent. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market failed to regain momentum.

Knitted Fabric Production in Hungary

In value terms, knitted fabric production dropped dramatically to $X in 2021 estimated in export price. Over the period under review, production saw a abrupt downturn. The growth pace was the most rapid in 2020 with an increase of 34%. Knitted fabric production peaked at $X in 2016; however, from 2017 to 2021, production remained at a lower figure.

Knitted Fabric Exports

Exports from Hungary

In 2021, shipments abroad of knitted or crocheted fabrics decreased by -7.7% to X tons for the first time since 2017, thus ending a three-year rising trend. Overall, exports, however, posted prominent growth. The pace of growth appeared the most rapid in 2020 when exports increased by 263%. As a result, the exports attained the peak of X tons, and then shrank in the following year.

In value terms, knitted fabric exports surged to $X in 2021. In general, total exports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +23.5% against 2019 indices. The pace of growth appeared the most rapid in 2017 when exports increased by 38%. Over the period under review, the exports attained the maximum in 2021 and are likely to continue growth in years to come.

Exports by Country

Germany (X tons), Italy (X tons) and France (X tons) were the main destinations of knitted fabric exports from Hungary, with a combined 51% share of total exports. Romania, Russia, South Africa, the United States, the Czech Republic, Lithuania, Serbia, Sweden, Poland and the UK lagged somewhat behind, together accounting for a further 26%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +155.7%), while the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Germany ($X) and France ($X) constituted the largest markets for knitted fabric exported from Hungary worldwide, with a combined 51% share of total exports. Romania, the Czech Republic, South Africa, the United States, Russia, Serbia, Lithuania, Sweden, Poland and the UK lagged somewhat behind, together accounting for a further 24%.

The United States, with a CAGR of +105.5%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average knitted fabric export price stood at $X per ton in 2021, jumping by 25% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average export price increased by 251% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Poland ($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 (+4.7%), while the prices for the other major destinations experienced more modest paces of growth.

Knitted Fabric Imports

Imports into Hungary

In 2021, purchases abroad of knitted or crocheted fabrics decreased by -62.2% to X tons for the first time since 2016, thus ending a four-year rising trend. Over the period under review, imports, however, saw pronounced growth. The most prominent rate of growth was recorded in 2017 with an increase of 83%. Over the period under review, imports hit record highs at X tons in 2020, and then reduced markedly in the following year.

In value terms, knitted fabric imports contracted sharply to $X in 2021. In general, imports recorded a noticeable slump. The growth pace was the most rapid in 2017 when imports increased by 27% against the previous year. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Germany (X tons), Turkey (X tons) and Italy (X tons) were the main suppliers of knitted fabric imports to Hungary, with a combined 61% share of total imports. These countries were followed by China, Austria, the Czech Republic, Poland, Belgium and Slovenia, which together accounted for a further 33%.

From 2012 to 2021, the biggest increases were recorded for the Czech Republic (with a CAGR of +27.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Austria ($X) and Turkey ($X) constituted the largest knitted fabric suppliers to Hungary, with a combined 68% share of total imports. These countries were followed by Italy, China, the Czech Republic, Poland, Belgium and Slovenia, which together accounted for a further 23%.

The Czech Republic, with a CAGR of +23.7%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average knitted fabric import price stood at $X per ton in 2021, picking up by 94% against the previous year. Over the period under review, the import price, however, saw a perceptible descent. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Austria ($X per ton), while the price for the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+7.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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