Printed circuits market in Hungary

Earlier Report Observations

Between 2018 and 2019, the Hungarian printed circuits market shifted toward higher-value products. Physical volume decreased slightly from 170.3 million to 162.3 million units, yet market value rose from $2 998 million to $3 094 million. This was driven by continuous technological advancements, including the spread of surface-mount technology and flexible printed circuits, which enabled smaller, more functional boards. Additionally, local players like Eurocircuits Kft. accelerated market entry with rapid prototyping and three-day production services, meeting growing demand for complex electronic devices.

In 2020, the market contracted significantly, with volume falling to 142.4 million units and value dropping to $2 829 million. The COVID-19 pandemic caused global supply chain disruptions, leading to material shortages and supplier difficulties. Simultaneously, sharp increases in energy prices, especially for natural gas and electricity, raised production costs and pressured manufacturers' operations.

After 2020, imports and exports of printed circuits continued a steady decline through 2025. This trend aligned with persistent global chip shortages and raw material supply issues, which constrained availability. Hungarian producers adapted by focusing on innovations such as printing circuits on curved surfaces and refining assembly technologies, while navigating ongoing energy cost pressures and rising sustainability expectations.

Production printed circuits in Hungary

In value, 2018-2021, M $ US

In Hungary, the output value of printed circuits reached $2,223 million in 2020, marking a significant year-over-year decline of 10.1%. Production peaked in 2019 at $2,472 million, with the largest annual increase of 2.6% recorded that same year. Over the three-year period from 2018 to 2020, overall production decreased by 7.7%, translating to a compound annual growth rate of -2.6%.

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

In kind, 2018-2021, M unit

Hungary's printed circuits production declined for the second consecutive year in 2020, with output falling to 118.0 million units. This represented a year-over-year decrease of 12.8%. From 2018 to 2020, production dropped by 16.5%, which corresponds to an annualized decline rate of 5.8%.

Annual dynamics of production in Hungary in kind, 2018-2021, M unit

Exports printed circuits from Hungary

Exports in kind, K unit

After two years of decline, Hungary's printed circuits exports rebounded in 2021, reaching 2,652 thousand units. This marked an 8.8% increase compared to the previous year. However, exports hit their lowest point in 2020 at 2,438 thousand units, with the sharpest annual decline of 41.2% occurring in 2019. Over the four-year period from 2018 to 2021, exports decreased by 57.6%, equivalent to an annualized decline rate of 24.9%.

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

From 2018 to 2021, Germany accounted for 43.2% of Hungary's printed circuits exports in volume, followed by Ukraine at 12.9% and Italy at 7.8%. Together, these three countries represented 64.0% of Hungary's total export flows in kind during this period.

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

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

Exports in value, M $ US

Following two years of losses, Hungary's printed circuits export value increased in 2021, reaching $234.5 million. This represented a substantial 13.7% gain compared to 2020. The lowest export value was recorded in 2020 at $206.2 million, with the largest annual decline of 19.5% occurring in 2019. Over the 2018-2021 period, export value decreased by 23.8%, translating to an annualized decline rate of 8.7%.

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

Between 2018 and 2021, Germany was the largest buyer of Hungarian printed circuits in value terms, accounting for 46.3% of exports. Ukraine followed with 7.4%, and Belgium with 6.5%. Collectively, these three markets represented 60.3% of Hungary's total export value during this timeframe.

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

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

Imports printed circuits to Hungary

Imports in kind, K unit

Hungary's printed circuits imports declined for the third consecutive year in 2021, falling to 21,599 thousand units. This represented a significant 19.5% decrease from the previous year. Over the four-year period from 2018 to 2021, imports decreased by 38.7%, corresponding to a compound annual growth rate of -15.0%.

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

Throughout 2018-2021, Germany dominated Hungary's printed circuits imports in volume, accounting for 45.9% of the total. China followed with 13.3%, and Hong Kong with 13.1%. Together, these three sources represented 72.4% of Hungary's total import flows in kind.

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

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

Imports in value, M $ US

After two years of decline, Hungary's printed circuits import value increased in 2021, reaching $982.9 million. This marked a 21.0% rise compared to the previous year. The lowest import value was recorded in 2020 at $812.3 million, with the largest annual decline of 6.6% occurring that same year. Over the 2018-2021 period, import value increased by 9.7%, translating to an annualized growth rate of 3.1%.

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

From 2018 to 2021, Germany accounted for 21.8% of Hungary's printed circuits import value, followed by China at 19.8% and Hong Kong at 17.3%. Together, these three markets represented 59.0% of Hungary's total import flows in value terms during this period.

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

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