Market research

Jewellery market in Hungary

Release date: Mar 30, 2026

Submission: 15 minutes after payment

Research period: 2017-2025

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File format: docx, xlsx

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Earlier Report Observations

Between 2018 and 2020, the Hungarian jewellery market experienced a gradual contraction, with its value declining from 34.1 million USD to 32.5 million USD. This was accompanied by lower domestic production and reduced imports, while exports saw a modest decrease.

A sharp turnaround occurred in 2021, as the market surged by 29% to reach 41.8 million USD. This growth was primarily fueled by a significant rise in imports, which jumped to 46.2 million USD, offsetting a concurrent dip in local production.

By 2024, the market value had stabilized at 40.2 million USD. In the preceding years, consumer preferences were shaped by fashion trends such as the popularity of personalized charm jewellery and minimalist designs, amplified by the influence of international brands. Furthermore, sustained investor interest in precious metals, driven by rising gold and silver prices, provided ongoing support for demand.

Table of content

1. Disclaimer
2. Terms of use of the report
3. Product codes in the statistical classifications used in the report
4. Key Market Indicators and Trends
1. 4.1. Key Market Indicators
  1. 4.1.1. In value
    1. 4.1.1.1. Production, 2018-2021, 2024
    2. 4.1.1.2. Imports, 2018-2025
    3. 4.1.1.3. Exports, 2018-2025
    4. 4.1.1.4. Market size, 2018-2021, 2024
2. 4.2. Market Trends and Factors
5. Production
1. 5.1. Production in Hungary
  1. 5.1.1. In value, 2018-2021, 2024, K $ US
2. 5.2. Production in the EU, 2018-2024
  1. 5.2.1. In value, 2018-2024, K $ US
6. Exports
1. 6.1. Exports (Direct Data)
  1. 6.1.1. Exports - Total information
  2. 6.1.2. Exports in kind, t
    1. 6.1.2.1. Annual dynamics of product's exports from Hungary in kind, 2018-2025, t
    2. 6.1.2.2. Dynamics of product's exports in kind from Hungary by countries, 2018-2025, t
    3. 6.1.2.3. Structure of product's exports in kind by countries, 2018-2025
  3. 6.1.3. Exports in value, K $ US
    1. 6.1.3.1. Annual dynamics of product's exports from Hungary in value, 2018-2025, K $ US
    2. 6.1.3.2. Dynamics of product's exports in value from Hungary by countries, 2018-2025, K $ US
    3. 6.1.3.3. Structure of product's exports in value by countries, 2018-2025
  4. 6.1.4. Average price of product's exports, $ US/kg
    1. 6.1.4.1. Annual dynamics of average price of product's exports from Hungary, 2018-2025, $ US/kg
    2. 6.1.4.2. Dynamics of average price of product's exports from Hungary by countries, 2018-2025, $ US/kg
2. 6.2. Exports (Mirror Data)
  1. 6.2.1. Exports - Total information
  2. 6.2.2. Exports in kind, t
    1. 6.2.2.1. Annual dynamics of product's exports from Hungary in kind, 2018-2025, t
    2. 6.2.2.2. Dynamics of product's exports in kind from Hungary by countries, 2018-2025, t
    3. 6.2.2.3. Structure of product's exports in kind by countries, 2018-2025
  3. 6.2.3. Exports in value, K $ US
    1. 6.2.3.1. Annual dynamics of product's exports from Hungary in value, 2018-2025, K $ US
    2. 6.2.3.2. Dynamics of product's exports in value from Hungary by countries, 2018-2025, K $ US
    3. 6.2.3.3. Structure of product's exports in value by countries, 2018-2025
  4. 6.2.4. Average price of product's exports, $ US/kg
    1. 6.2.4.1. Annual dynamics of average price of product's exports from Hungary, 2018-2025, $ US/kg
    2. 6.2.4.2. Dynamics of average price of product's exports from Hungary by countries, 2018-2025, $ US/kg
7. Imports
1. 7.1. Imports (Direct Data)
  1. 7.1.1. Imports - Total information
  2. 7.1.2. Imports in kind, t
    1. 7.1.2.1. Annual dynamics of product's imports to Hungary in kind, 2018-2025, t
    2. 7.1.2.2. Dynamics of product's imports in kind to Hungary by countries, 2018-2025, t
    3. 7.1.2.3. Structure of product's imports in kind by countries, 2018-2025
  3. 7.1.3. Imports in value, K $ US
    1. 7.1.3.1. Annual dynamics of product's imports to Hungary in value, 2018-2025, K $ US
    2. 7.1.3.2. Dynamics of product's imports in value to Hungary by countries, 2018-2025, K $ US
    3. 7.1.3.3. Structure of product's imports in value by countries, 2018-2025
  4. 7.1.4. Average price of product's imports, $ US/kg
    1. 7.1.4.1. Annual dynamics of average price of product's imports to Hungary, 2018-2025, $ US/kg
    2. 7.1.4.2. Dynamics of average price of product's imports to Hungary by countries, 2018-2025, $ US/kg
2. 7.2. Imports (Mirror Data)
  1. 7.2.1. Imports - Total information
  2. 7.2.2. Imports in kind, t
    1. 7.2.2.1. Annual dynamics of product's imports to Hungary in kind, 2018-2025, t
    2. 7.2.2.2. Dynamics of product's imports in kind to Hungary by countries, 2018-2025, t
    3. 7.2.2.3. Structure of product's imports in kind by countries, 2018-2025
  3. 7.2.3. Imports in value, K $ US
    1. 7.2.3.1. Annual dynamics of product's imports to Hungary in value, 2018-2025, K $ US
    2. 7.2.3.2. Dynamics of product's imports in value to Hungary by countries, 2018-2025, K $ US
    3. 7.2.3.3. Structure of product's imports in value by countries, 2018-2025
  4. 7.2.4. Average price of product's imports, $ US/kg
    1. 7.2.4.1. Annual dynamics of average price of product's imports to Hungary, 2018-2025, $ US/kg
    2. 7.2.4.2. Dynamics of average price of product's imports to Hungary by countries, 2018-2025, $ US/kg
8. Trade balance
1. 8.1. Trade balance (Direct Data)
  1. 8.1.1. In kind, t
  2. 8.1.2. In value, K $ US
2. 8.2. Trade balance (Mirror Data)
  1. 8.2.1. In kind, t
  2. 8.2.2. In value, K $ US
9. Top buying and selling countries, 2018-2025
1. 9.1. Direct Data
  1. 9.1.1. Import in Value by Countries-buyers
  2. 9.1.2. Export in Value by Countries-suppliers
2. 9.2. Mirror Data
  1. 9.2.1. Import in Value by Countries-buyers
  2. 9.2.2. Export in Value by Countries-suppliers

Production jewellery in Hungary

In value, 2018-2021, K $ US

Hungary's jewellery production declined for the second consecutive year. In 2021, output was valued at 2 583 K $ US, marking a substantial 19.6% year-on-year decrease. Over the 2018-2021 period, production increased by 12.5%, with a compound annual growth rate of 4.0%. The highest value was recorded in 2019 at 3 628 K $ US, which also saw the largest increase of 58.0%.

Annual dynamics of production in Hungary in value, 2018-2021, K $ US

Parameter		2019	2020	2021	CAGR
1	Change from last year	58.0%	(11.4%)	(19.6%)	4.0%

Source: SHEV.io

Exports jewellery from Hungary

Exports in kind, kg

The market exhibited volatility during the observed period. Exported jewellery volumes from Hungary reached 24 801 kg in 2021, representing an 80.3% gain compared to the previous year. The lowest volume was recorded in 2019 at 802 kg, which also saw the largest decline of 30.9%. The largest increase occurred in 2020 at 1 615.9%. The gap between the peak in 2021 and the trough in 2019 was 31-fold.

Annual dynamics of product's exports from Hungary in kind, 2018-2021, kg

Parameter		2019	2020	2021	CAGR
1	Change from last year	(30.9%)	1 615.9%	80.3%	177.6%

Source: SHEV.io

From 2018 to 2021, the geographical pattern of exports in kind was characterised by a strong dominance of Croatia, which accounted for 81.0% of total flows, while other partners held relatively minor shares.

Structure of product's exports in kind by countries, 2018-2021

Source: SHEV.io

World map of product's exports from Hungary in kind, 2018-2021

Source: SHEV.io

Exports in value, K $ US

After a two-year decrease, Hungary's cross-border shipments of jewellery increased. In 2021, exports totalled 6 953 K $ US, equivalent to an abrupt advance of 50.0% compared to the previous year. Between 2018 and 2021, exports rose by 12.2%, equating to an annualized rate of 3.9%. The lowest value was recorded in 2020 at 4 634 K $ US, while the largest decline occurred in 2019 at 13.9%.

Annual dynamics of product's exports from Hungary in value, 2018-2021, K $ US

Parameter		2019	2020	2021	CAGR
1	Change from last year	(13.9%)	(13.1%)	50.0%	3.9%

Source: SHEV.io

From 2018 to 2021, Slovakia (33.2% of exports in value terms), Romania (20.8%), and Germany (14.9%) were the principal destinations for Hungary's jewellery exports, jointly accounting for 68.9% of total flows.

Structure of product's exports in value by countries, 2018-2021

Source: SHEV.io

World map of product's exports from Hungary in value, 2018-2021

Source: SHEV.io

Imports jewellery to Hungary

Imports in kind, kg

Jewellery deliveries to Hungary increased for the third consecutive year. In 2021, Hungary imported 7 719 kg of jewellery, showing a slight uptick of 2.9% compared to 2020. Over the 2018-2021 period, imports grew by 18.5%, with a compound annual growth rate of 5.8%.

Annual dynamics of product's imports to Hungary in kind, 2018-2021, kg

Parameter		2019	2020	2021	CAGR
1	Change from last year	7.7%	7.0%	2.9%	5.8%

Source: SHEV.io

Throughout 2018–2021, Germany (39.9% of imports in kind), Turkey (17.1%), and China (16.1%) remained the main markets for jewellery imports to Hungary, jointly taking 73.2% of total flows.

Structure of product's imports in kind by countries, 2018-2021

Source: SHEV.io

World map of product's imports to Hungary in kind, 2018-2021

Source: SHEV.io

Imports in value, K $ US

After a two-year drop, jewellery deliveries to Hungary increased. In 2021, imports totalled 46 196 K $ US, showing a steep increase of 36.4% compared to 2020. Between 2018 and 2021, imports rose by 21.4%, equating to an annualized rate of 6.7%. The lowest value was recorded in 2020 at 33 875 K $ US, while the largest decline occurred in 2019 at 8.0%.

Annual dynamics of product's imports to Hungary in value, 2018-2021, K $ US

Parameter		2019	2020	2021	CAGR
1	Change from last year	(8.0%)	(3.1%)	36.4%	6.7%

Source: SHEV.io

Over 2018–2021, Turkey (50.7% of imports in value terms), Germany (29.0%), and Italy (8.5%) remained the leading destinations in Hungary's import structure, with a combined share of 88.2% of total flows.

Structure of product's imports in value by countries, 2018-2021

Source: SHEV.io

World map of product's imports to Hungary in value, 2018-2021

Source: SHEV.io