Hungary: Leather Market 2022

Leather Market Size in Hungary

In 2021, the Hungarian leather market was finally on the rise to reach $X after three years of decline. Over the period under review, consumption, however, saw a noticeable descent. Leather consumption peaked at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Leather Production in Hungary

In value terms, leather production expanded modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 when the production volume increased by 27% against the previous year. Over the period under review, production attained the peak level at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Leather Exports

Exports from Hungary

In 2021, shipments abroad of leather decreased by -43.1% to X tons, falling for the fifth year in a row after five years of growth. In general, exports recorded a abrupt setback. The pace of growth was the most pronounced in 2014 with an increase of 49%. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

In value terms, leather exports shrank sharply to $X in 2021. Overall, exports showed a abrupt decline. The most prominent rate of growth was recorded in 2014 when exports increased by 11%. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Bosnia and Herzegovina (X tons), Ukraine (X tons) and Germany (X tons) were the main destinations of leather exports from Hungary, together comprising 68% of total exports. These countries were followed by Italy, Romania, Slovakia, Moldova, Hong Kong SAR, India and Bulgaria, which together accounted for a further 27%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Moldova (with a CAGR of +75.8%), while the other leaders experienced more modest paces of growth.

In value terms, Bosnia and Herzegovina ($X) remains the key foreign market for leather exports from Hungary, comprising 45% of total exports. The second position in the ranking was held by Romania ($X), with a 12% share of total exports. It was followed by Germany, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Bosnia and Herzegovina totaled +7.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (-16.8% per year) and Germany (-7.1% per year).

Export Prices by Country

In 2021, the average leather export price amounted to $X per ton, jumping by 33% against the previous year. In general, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the average export price increased by 37% against the previous year. Over the period under review, the average export prices attained the maximum in 2021 and is expected to retain growth in the near future.

Prices varied noticeably country of destination: the country with the highest price was Romania ($X per ton), while the average price for exports to Italy ($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 Germany (+13.9%), while the prices for the other major destinations experienced more modest paces of growth.

Leather Imports

Imports into Hungary

In 2021, overseas purchases of leather decreased by -3.5% to X tons, falling for the fifth consecutive year after five years of growth. Over the period under review, imports saw a abrupt decrease. The most prominent rate of growth was recorded in 2013 when imports increased by 11% against the previous year. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, leather imports rose notably to $X in 2021. In general, imports continue to indicate a noticeable decrease. The pace of growth was the most pronounced in 2013 with an increase of 29% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

Germany (X tons), Brazil (X tons) and Italy (X tons) were the main suppliers of leather imports to Hungary.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Africa (with a CAGR of +121.1%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Germany ($X), Brazil ($X) and Italy ($X) appeared to be the largest leather suppliers to Hungary, with a combined 75% share of total imports. These countries were followed by Mexico, Austria, South Africa, the Netherlands and Spain, which together accounted for a further 20%.

South Africa, with a CAGR of +106.1%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average leather import price amounted to $X per ton, increasing by 13% against the previous year. Over the last nine-year period, it increased at an average annual rate of +3.2%. The growth pace was the most rapid in 2020 an increase of 30%. The import price peaked in 2021 and is likely to continue growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+16.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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