India’s exports to Hungary grew by 658.41 per cent to $21.16 million worth of apparels in 2020, as compared to just $2.79 million in 2019. Hungary imported $1.56 billion worth of garments worldwide in 2020, reveals ITC data, and India’s share was 1.35 per cent. As per Apparel Resources, India’s RMG exports to top five EU destinations – Germany, France, Spain, Netherlands and Italy – declined to 73.48 per cent of India’s total export to EU during 2020.

Denmark was the sixth top apparel export destination for India in EU in 2020 with exports growing 3.29 per cent to $231.95 million. Since India’s garment export to Hungary seems to be weaving up strongly, the country has a good chance in 2021 and onwards to increase its market share. As per Statista, Hungary’s total revenue from apparel sector was $2.07 billion in 2020 which is expected to grow annually 16.2 per cent from 2021 till 2025.