From January to June 2021, China and Hungary increased by US$2,260,818,300 compared with the same period in 2020, a year-on-year increase of 42.7%.
From January to June 2021, the total value of China’s exports to Hungary was US$4,780,071,500, an increase of US$1,215,789,500 compared with the same period in 2020, a year-on-year increase of 34.7%; the total value of China’s imports from Hungary was US$2,829,574,800, compared with 2020. During the same period, it increased by 1,045,028,800 US dollars, a year-on-year increase of 58.7%.
Hungary's industrial sector accounts for about 1/3 of GDP, and the proportion of manufacturing industry increases year by year. The dominant industries mainly include automobiles and parts, electronics, machinery, pharmaceuticals, biotechnology, information, logistics and new sources. It is difficult for Dongqi Crane to open up the Hungarian crane market. However, with the deepening of trade relations between China and Hungary, as well as the construction and promotion of Dongqi Crane's own brand, we believe that the crane market in Hungary will be opened up in the future through excellent service quality and products. In the past 2021, Dongqi Crane completed a crane project cooperation order with a Hungarian customer. This article will analyze the possible development and changes of the Hungarian crane market in 2022 through the analysis of the import and export data of overhead cranes in Hungary
Before we start discussing the aerial crane market in Hungary, we have a few small questions that need to be answered first. Let’s take a look
The Hungarian Overhead Crane Market fell to X dollars in 2020, down -X% from the previous year. However, consumption showed a relatively flat trend pattern during the period under review. The fastest growth rate in 2019, with a year-on-year increase of X%. As a result, consumption peaks at $X and then contracts the following year.
By value, the production of overhead cranes in 2020 is estimated to fall to X dollars at export prices. Overall, there has been a marked increase in production. The fastest growth in 2019, with an X% year-on-year increase in production. As a result, production peaked at X dollars before shrinking the following year.
In 2020, approximately X fixed-stand overhead cranes were exported from Hungary; an increase of X% compared to the previous year. Overall, exports continued to show strong growth. 2019 saw the fastest growth, with exports up X% year-on-year. During the period under review, exports hit an all-time high in 2020 and are expected to keep growing in the near future. Overhead crane exports surged to $X in 2020 by value. During the period under review, exports showed resilient growth. The most significant growth rate occurred in 2019, with a year-on-year increase of X%. During the period under review, exports peaked in 2020 and are expected to keep growing in the coming years.
Brazil (X units) is the main destination for Hungarian bridge crane exports, accounting for about X% of total exports. From 2007 to 2020, the average annual growth rate of shipments to Brazil totaled +X%. From 2007 to 2020, the value of Brazil to Brazil has grown at an average annual rate of +X%.
In 2020, approximately X fixed-stand overhead cranes were imported into Hungary; an increase of X% compared to the previous year. During the review period, however, there were serious setbacks in imports. 2019 saw the fastest growth, with imports up X% year-on-year. During the period under review, imports peaked at X units in 2007; however, from 2008 to 2020, import figures were slightly lower.
Overhead crane imports surged to $X in 2020 by value. But overall, imports continued to show a sudden pullback. The fastest growth rate in 2013, an increase of X% year-on-year. During the period under review, imports reached a maximum value of $X in 2007; however, from 2008 to 2020, imports have been at lower levels.
In 2019, Finland (X units) was the largest supplier of overhead cranes in Hungary, accounting for X% of total imports. In addition, overhead cranes imported from Finland were three times higher than the number recorded by the second largest supplier, Germany (X units). Norwegia (X units) ranks third in terms of total imports with a share of X%.
From 2007 to 2019, the average annual growth rate of Finnish exports was relatively modest. The average annual growth rates of imports for the remaining suppliers are as follows: Germany (-X% per annum) and Norway (X% per annum). Romania ($X), Germany ($X) and Finland ($X) are Hungary's largest overhead crane suppliers by value, together accounting for X% of total imports. During the period under review, Finland experienced the highest growth in import value among the major suppliers, while other leaders experienced more modest growth in purchases.
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