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Hungary Textiles and Clothing Report Q4 2009Published by: Business Monitor International Published: Sep. 21, 2009 - 44 Pages Table of Contents
AbstractHungary is a medium to small-sized textile and clothing (T&C) producer, with an industry that wassuccessfully privatised in the 1990s and has since had to carry out significant downsizing because ofcompetition from Asian producers. BMI ranks it as number 44 in the world in terms of T&Cmanufacturing value added. In nominal terms, we estimate that to have been worth US$3.25bn in 2008.The industry now faces the daunting prospect of European and Hungarian recessions over the next twoyears, which BMI believes will force further contraction. A small core of efficient and specialisedcompanies will, however, position themselves for the upturn in 2011 or 2012.Overall Hungarian T&C value added will fall by 16.0% in 2009 and by 6.8% in 2010, reflecting verydifficult international economic conditions. We see a fairly strong recovery setting in from 2011, withgrowth of 5.3%. The industry’s trade performance will also reflect the especially challenginginternational economic situation. Combined T&C exports will fall by 20.1% this year to US$1.50bn, withimports also down, by 21.6%, to US$1.99bn. Get Full Details About This Report >> |
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