Key Market Indicators
Hungarian apparel sales are projected to decline to €230 million by 2028, down from €314 million in 2023, representing an average annual decrease of nearly 5%. This downturn continues a trend observed since 2010, where the market has been contracting at an average annual rate of over 5%. In 2023, Hungary ranked 22nd in apparel sales, with Slovakia surpassing it with sales also at €314 million. The top positions in this ranking were held by Germany, France, and Spain, which occupied the second, third, and fourth spots respectively. Conversely, Hungarian clothing expenditure is expected to grow, reaching €2.2 billion by 2028, up from €2 billion in 2023. This increase translates to a compound annual growth rate of approximately 1.7%. Since 2000, Hungarian demand for clothing has been on the rise, averaging a 1.5% annual increase. In 2023, Hungary ranked 19th in clothing expenditure, with Greece overtaking it with €2 billion in spending. The leading countries in this ranking were Germany, Italy, and France, which held the second, third, and fourth positions respectively.
