In 2014, both the textile and clothing sectors in Hungary succeeded in increasing turnover, which may seem surprising owing to several negative factors sapping the capacity for growth of these sectors.
According to the Hungarian Society of Textile Technology and Science (TMTE), in 2014 the textile sector achieved a turnover of €377.2m (US$481.1m, +12%) owing to exports up 20%, which represent 85% of total Hungarian textile sales.
For the clothing sector, turnover last year was €325.3m (US$414.9m, +8%), due mainly to domestic sales up 30%.
The success in the domestic clothing market can partly be explained by the fact that imports originate mainly from EU countries, especially Germany and Italy for knitwear, and Germany, Slovakia, Spain and Austria for woven apparel.
Price competition between domestic and imported clothing products is thus less merciless than if China or other cheap Asian suppliers would dominate the Hungarian import market.
For the full story, see the November 2015 edition of Textiles Eastern Europe. Not a subscriber? Sign up HERE