Hungary: Wooden Office Furniture Market 2024

Wooden Office Furniture Market Size in Hungary

In 2021, the Hungarian wooden office furniture market decreased by -14.5% to $X, falling for the third year in a row after two years of growth. In general, the total consumption indicated a mild expansion from 2012 to 2021: its value increased at an average annual rate of +1.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -35.0% against 2018 indices. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Wooden Office Furniture Production in Hungary

In value terms, wooden office furniture production contracted markedly to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a noticeable contraction. The growth pace was the most rapid in 2017 with an increase of 27% against the previous year. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Wooden Office Furniture Exports

Exports from Hungary

In 2021, overseas shipments of wooden furniture of a kind used in offices increased by 1.5% to X units, rising for the third year in a row after two years of decline. In general, exports, however, continue to indicate a perceptible downturn. The pace of growth appeared the most rapid in 2016 with an increase of 110%. Over the period under review, the exports reached the peak figure at X units in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, wooden office furniture exports stood at $X in 2021. Over the period under review, exports, however, recorded a abrupt setback. The pace of growth was the most pronounced in 2016 when exports increased by 98%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X units) was the main destination for wooden office furniture exports from Hungary, with a 67% share of total exports. Moreover, wooden office furniture exports to Germany exceeded the volume sent to the second major destination, the United States (X units), sevenfold. The Czech Republic (X units) ranked third in terms of total exports with a 4.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Germany totaled -2.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+55.4% per year) and the Czech Republic (+35.0% per year).

In value terms, Germany ($X) remains the key foreign market for wooden furniture of a kind used in offices exports from Hungary, comprising 67% of total exports. The second position in the ranking was held by the United States ($X), with a 10% share of total exports. It was followed by the Czech Republic, with a 4.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Germany stood at -6.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+50.1% per year) and the Czech Republic (+30.3% per year).

Export Prices by Country

In 2021, the average wooden office furniture export price amounted to $X per unit, increasing by 11% against the previous year. Over the period under review, the export price, however, continues to indicate a noticeable curtailment. The pace of growth was the most pronounced in 2014 an increase of 30% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2015 to 2021, the average export prices failed to regain momentum.

Average prices varied noticeably for the major foreign markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Austria ($X per unit) and Slovakia ($X per unit), while the average price for exports to the UK ($X per unit) and the United States ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (-3.4%), while the prices for the other major destinations experienced a decline.

Wooden Office Furniture Imports

Imports into Hungary

In 2021, supplies from abroad of wooden furniture of a kind used in offices was finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. Overall, imports, however, faced a deep contraction. Imports peaked at X units in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, wooden office furniture imports skyrocketed to $X in 2021. In general, total imports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +5.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 with an increase of 35%. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Poland (X units) constituted the largest supplier of wooden office furniture to Hungary, with a 45% share of total imports. Moreover, wooden office furniture imports from Poland exceeded the figures recorded by the second-largest supplier, Germany (X units), threefold. Austria (X units) ranked third in terms of total imports with a 7.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Poland stood at -6.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-19.7% per year) and Austria (-18.9% per year).

In value terms, Poland ($X) constituted the largest supplier of wooden furniture of a kind used in offices to Hungary, comprising 47% of total imports. The second position in the ranking was held by Germany ($X), with a 13% share of total imports. It was followed by Austria, with a 7.3% share.

From 2012 to 2021, the average annual growth rate of value from Poland totaled +12.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-3.4% per year) and Austria (-2.5% per year).

Import Prices by Country

The average wooden office furniture import price stood at $X per unit in 2021, waning by -14.3% against the previous year. In general, the import price, however, continues to indicate significant growth. The growth pace was the most rapid in 2016 when the average import price increased by 168% against the previous year. The import price peaked at $X per unit in 2019; however, from 2020 to 2021, import prices remained at a 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 China ($X per unit), while the price for the UK ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+31.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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