Hungary: Sunglasses Market 2024

Sunglasses Market Size in Hungary

In 2022, the Hungarian sunglasses market decreased by -20.4% to $X, falling for the third year in a row after four years of growth. Over the period under review, consumption recorded a pronounced reduction. Sunglasses consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Sunglasses Exports

Exports from Hungary

In 2022, shipments abroad of sunglasses increased by 29% to X units, rising for the second year in a row after two years of decline. In general, exports recorded buoyant growth. The most prominent rate of growth was recorded in 2013 when exports increased by 78%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, sunglasses exports skyrocketed to $X in 2022. Over the period under review, total exports indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Romania (X units), Germany (X units) and the Czech Republic (X units) were the main destinations of sunglasses exports from Hungary, together accounting for 34% of total exports. Austria, France, Slovakia, Serbia, Poland, Croatia, Bulgaria, Slovenia, the Netherlands and Spain lagged somewhat behind, together comprising a further 52%.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +61.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the Czech Republic ($X) remains the key foreign market for sunglasses exports from Hungary, comprising 32% of total exports. The second position in the ranking was held by Slovakia ($X), with a 13% share of total exports. It was followed by Romania, with an 8.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the Czech Republic totaled +1.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovakia (-3.1% per year) and Romania (+2.9% per year).

Export Prices by Country

The average sunglasses export price stood at $X per unit in 2022, picking up by 13% against the previous year. In general, the export price, however, showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2020 an increase of 25% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Czech Republic ($X per unit), while the average price for exports to the Netherlands ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (+2.3%), while the prices for the other major destinations experienced a decline.

Sunglasses Imports

Imports into Hungary

After two years of decline, overseas purchases of sunglasses increased by 3.5% to X units in 2022. Over the period under review, imports saw a resilient expansion. The growth pace was the most rapid in 2018 when imports increased by 65% against the previous year. Imports peaked at X units in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, sunglasses imports skyrocketed to $X in 2022. The total import value increased at an average annual rate of +4.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X units) constituted the largest supplier of sunglasses to Hungary, with a 41% share of total imports. Moreover, sunglasses imports from China exceeded the figures recorded by the second-largest supplier, Poland (X units), threefold. Germany (X units) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +9.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+11.2% per year) and Germany (+12.0% per year).

In value terms, Italy ($X) constituted the largest supplier of sunglasses to Hungary, comprising 47% of total imports. The second position in the ranking was taken by Germany ($X), with a 13% share of total imports. It was followed by China, with a 9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Italy amounted to +6.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+5.0% per year) and China (+6.9% per year).

Import Prices by Country

In 2022, the average sunglasses import price amounted to $X per unit, jumping by 22% against the previous year. Over the period under review, the import price, however, showed a perceptible reduction. The pace of growth appeared the most rapid in 2020 an increase of 35%. Over the period under review, average import prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+0.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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