Hungary: Sportswear Market 2024

Sportswear Market Size in Hungary

In 2021, the Hungarian sportswear market decreased by -12.9% to $X, falling for the third consecutive year after three years of growth. In general, consumption, however, enjoyed a buoyant increase. Sportswear consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Sportswear Production in Hungary

In value terms, sportswear production dropped sharply to $X in 2021 estimated in export price. In general, production showed a dramatic curtailment. The pace of growth was the most pronounced in 2013 with an increase of 17%. As a result, production reached the peak level of $X. From 2014 to 2021, production growth remained at a lower figure.

Sportswear Exports

Exports from Hungary

After three years of growth, shipments abroad of track suits, ski suits and swimwear decreased by -38.1% to X units in 2021. Over the period under review, exports, however, enjoyed a strong increase. The growth pace was the most rapid in 2020 when exports increased by 500%. As a result, the exports attained the peak of X units, and then contracted rapidly in the following year.

In value terms, sportswear exports declined rapidly to $X in 2021. In general, exports recorded a deep downturn. The pace of growth was the most pronounced in 2019 when exports increased by 60%. As a result, the exports reached the peak of $X. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Romania (X units), Poland (X units) and Croatia (X units) were the main destinations of sportswear exports from Hungary, together comprising 53% of total exports. Slovakia, Germany, Italy, Slovenia, Austria, Serbia, Bulgaria, the Czech Republic, the UK and Russia lagged somewhat behind, together accounting for a further 42%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Slovenia (with a CAGR of +42.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for sportswear exported from Hungary were Germany ($X), Romania ($X) and Austria ($X), with a combined 40% share of total exports. These countries were followed by Slovakia, Poland, Croatia, Bulgaria, the UK, Serbia, Italy, Russia, the Czech Republic and Slovenia, which together accounted for a further 41%.

Among the main countries of destination, Serbia, with a CAGR of +30.4%, 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

In 2021, the average sportswear export price amounted to $X per unit, surging by 25% against the previous year. Over the period under review, the export price, however, faced a abrupt setback. The growth pace was the most rapid in 2016 when the average export price increased by 437%. The export price peaked at $X per unit in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Russia ($X per unit), while the average price for exports to Poland ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Serbia (-0.0%), while the prices for the other major destinations experienced a decline.

Sportswear Imports

Imports into Hungary

In 2021, the amount of track suits, ski suits and swimwear imported into Hungary reduced markedly to X units, which is down by -26.1% against 2020. In general, imports, however, saw buoyant growth. The most prominent rate of growth was recorded in 2018 with an increase of 39%. Over the period under review, imports hit record highs at X units in 2020, and then fell dramatically in the following year.

In value terms, sportswear imports dropped to $X in 2021. Overall, imports, however, posted resilient growth. The growth pace was the most rapid in 2014 with an increase of 23% against the previous year. Imports peaked at $X in 2020, and then reduced in the following year.

Imports by Country

In 2021, Turkey (X units) constituted the largest sportswear supplier to Hungary, with a 52% share of total imports. Moreover, sportswear imports from Turkey exceeded the figures recorded by the second-largest supplier, France (X units), sixfold. The third position in this ranking was held by Poland (X units), with an 8% share.

From 2012 to 2021, the average annual growth rate of volume from Turkey stood at +105.3%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+13.2% per year) and Poland (+24.1% per year).

In value terms, Turkey ($X) constituted the largest supplier of track suits, ski suits and swimwear to Hungary, comprising 34% of total imports. The second position in the ranking was taken by Germany ($X), with a 12% share of total imports. It was followed by Poland, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from Turkey totaled +125.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+4.0% per year) and Poland (+20.6% per year).

Import Prices by Country

In 2021, the average sportswear import price amounted to $X per unit, rising by 15% against the previous year. Over the period under review, the import price, however, continues to indicate a noticeable curtailment. The pace of growth was the most pronounced in 2019 an increase of 19% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+10.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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