Hungary: T-Shirt Market 2024

T-Shirt Market Size in Hungary

In 2022, the Hungarian t-shirt market increased by 27% to $X, rising for the second year in a row after two years of decline. In general, consumption enjoyed strong growth. Over the period under review, the market reached the peak level in 2022 and is likely to see steady growth in years to come.

T-Shirt Production in Hungary

In value terms, t-shirt production reduced notably to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a sharp decline. T-shirt production peaked at $X in 2021, and then contracted notably in the following year.

T-Shirt Exports

Exports from Hungary

For the third consecutive year, Hungary recorded growth in shipments abroad of t-shirts, which increased by 31% to X units in 2022. Overall, exports saw significant growth. The pace of growth appeared the most rapid in 2021 with an increase of 316%. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

In value terms, t-shirt exports soared to $X in 2022. In general, exports enjoyed a buoyant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Romania (X units) was the main destination for t-shirt exports from Hungary, with a 25% share of total exports. Moreover, t-shirt exports to Romania exceeded the volume sent to the second major destination, Croatia (X units), threefold. Switzerland (X units) ranked third in terms of total exports with a 7.9% share.

From 2012 to 2022, the average annual growth rate of volume to Romania totaled +47.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Croatia (+40.3% per year) and Switzerland (+30.5% per year).

In value terms, the largest markets for t-shirt exported from Hungary were Switzerland ($X), Romania ($X) and Germany ($X), with a combined 46% share of total exports. Croatia, Bulgaria, Italy, Serbia, Slovakia, the Czech Republic, Austria, Spain, Poland and Slovenia lagged somewhat behind, together comprising a further 45%.

Among the main countries of destination, Bulgaria, with a CAGR of +38.3%, saw 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

In 2022, the average t-shirt export price amounted to $X per unit, remaining relatively unchanged against the previous year. Over the period under review, the export price, however, continues to indicate a abrupt contraction. The pace of growth appeared the most rapid in 2017 an increase of 20% against the previous year. Over the period under review, the average export prices attained the peak figure 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 Switzerland ($X per unit), while the average price for exports to Romania ($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 Serbia (-6.6%), while the prices for the other major destinations experienced a decline.

T-Shirt Imports

Imports into Hungary

T-shirt imports into Hungary shrank sharply to X units in 2022, declining by -18.8% against 2021. Over the period under review, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of 30% against the previous year. Over the period under review, imports attained the peak figure at X units in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, t-shirt imports stood at $X in 2022. Overall, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 29%. Over the period under review, imports attained the peak figure at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Slovakia (X units), Germany (X units) and Poland (X units) were the main suppliers of t-shirt imports to Hungary, together comprising 44% of total imports. France, Belgium, Austria, China, Romania, Turkey, Spain and the UK lagged somewhat behind, together accounting for a further 46%.

From 2012 to 2022, the biggest increases were recorded for France (with a CAGR of +10.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Slovakia ($X), Germany ($X) and Austria ($X) were the largest t-shirt suppliers to Hungary, together accounting for 51% of total imports. Poland, Belgium, France, China, Spain, Romania, Turkey and the UK lagged somewhat behind, together comprising a further 38%.

Among the main suppliers, France, with a CAGR of +7.1%, recorded 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 t-shirt import price stood at $X per unit in 2022, surging by 23% against the previous year. Overall, the import price showed a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Austria ($X per unit), while the price for Turkey ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+5.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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