Hungary: Gloves Market 2024

Gloves Market Size in Hungary

The Hungarian gloves market surged to $X in 2022, picking up by X% against the previous year. In general, consumption showed modest growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Gloves Production in Hungary

In value terms, gloves production fell modestly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a abrupt decline. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Gloves Exports

Exports from Hungary

In 2022, after two years of growth, there was decline in shipments abroad of gloves, mittens and mitts (excluding knitted or crocheted), when their volume decreased by X% to X pairs. In general, exports, however, showed a strong expansion. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. As a result, the exports reached the peak of X pairs, leveling off in the following year.

In value terms, gloves exports declined slightly to $X in 2022. Overall, exports, however, showed a resilient expansion. The pace of growth was the most pronounced in 2021 when exports increased by X%. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Slovakia (X pairs) was the main destination for gloves exports from Hungary, with a X% share of total exports. Moreover, gloves exports to Slovakia exceeded the volume sent to the second major destination, Ukraine (X pairs), threefold. The third position in this ranking was taken by Sweden (X pairs), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Slovakia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (X% per year) and Sweden (X% per year).

In value terms, Sweden ($X) remains the key foreign market for gloves, mittens and mitts (excluding knitted or crocheted) exports from Hungary, comprising X% of total exports. The second position in the ranking was taken by the United States ($X), with a X% share of total exports. It was followed by Slovakia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Sweden stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Slovakia (X% per year).

Export Prices by Country

The average gloves export price stood at $X per pair in 2022, reducing by X% against the previous year. Overall, the export price continues to indicate a deep reduction. The most prominent rate of growth was recorded in 2018 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs at $X per pair in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per pair), while the average price for exports to Slovakia ($X per pair) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (X%), while the prices for the other major destinations experienced mixed trend patterns.

Gloves Imports

Imports into Hungary

In 2022, imports of gloves, mittens and mitts (excluding knitted or crocheted) into Hungary skyrocketed to X pairs, with an increase of X% compared with the previous year. Overall, imports continue to indicate strong growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, gloves imports skyrocketed to $X in 2022. Over the period under review, imports, however, showed a pronounced slump. The growth pace was the most rapid in 2016 when imports increased by X%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X pairs) constituted the largest gloves supplier to Hungary, accounting for a X% share of total imports. Moreover, gloves imports from China exceeded the figures recorded by the second-largest supplier, Germany (X pairs), twofold. The third position in this ranking was held by India (X pairs), with an X% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and India (X% per year).

In value terms, China ($X), France ($X) and Germany ($X) appeared to be the largest gloves suppliers to Hungary, with a combined X% share of total imports. India, Poland, Belgium, Austria, Sweden, Slovakia, the Czech Republic, Spain, Italy and Ireland lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, India, with a CAGR of X%, saw 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 gloves import price stood at $X per pair in 2022, declining by X% against the previous year. Over the period under review, the import price showed a abrupt curtailment. The most prominent rate of growth was recorded in 2016 an increase of X%. Over the period under review, average import prices reached the maximum at $X per pair in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :