The role of food and beverage is central to the Hungarian market, where consumption, exports and imports are growing. The trade balance in 2019 recorded an increase of over 1.17 billion euros year on year. In the period 2015-2019 purchases from abroad increased by +29.4% in Hungary for a value of about 6.25 billion euros, 341 million of which came from Italy’s exports. Italian food sales are growing by +7.7%, with a share of 5.5% on the market.
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The main distribution channel is large-scale distribution. There are 13 chains in Hungary which saw their turnover grow by +2% in 2019 compared to 2018 and by +6.9% compared to 2017. Average expenditure on food and drink grew by +3.4% in 2019 and by +5.9% in the first five months of 2020 compared to 2019. This thanks to an increase in consumers’ purchasing power. The health crisis caused by the recent pandemic has also boosted e-commerce. Retail chains have further developed their platforms as consumers are experiencing the benefits of home delivery.
THE UPCOMING EVENTS ORGANIZED BY ITA IN HUNGARY
In a context of uncertainty about the evolution of international trade, the Italian Trade Agency (ita) Office in Budapest is planning to organize a promotional action within large-scale distribution’s point of sales in Hungary, also focusing on e-commerce. As usual, ITA will provide assistance for participation in local events, starting with Sirha Budapest, the main trade show for the agri-food sector in Hungary. Next edition is scheduled for February, 2022.
