Industry revenue of »manufacture of communication equipment« in Hungary 2011-2023

Until two decades ago, Hungary was one of the major players in the global hardware and ICT domain, and was the market leader in terms of communications equipment production and computer assembly in the Central and Eastern European region. Communications equipment production amounted to 17 percent of the total manufacturing output in 2005 and the industry accounted for 30 percent of the overall employment in the country, as per data from the International Center for Economic Growth. However, over the years, the industry has witnessed a downfall, owing to the growing penetration of cheaper imports that are satisfying majority of the domestic demand. Additionally, the high capital costs and rising tariff rates have not augured well for the sector, resulting in many companies shifting their base out of the country. As a result, the number of enterprises in the manufacture of communication equipment industry have declined from 745 in 2008 to 290 in 2017. Unsurprisingly industry revenues are also projected to decline drastically from 7.5 billion U.S. dollars in 2011 to 1.1 billion U.S. dollars by 2023.

On a global basis, the Asia-Pacific region is emerging as the leading market, with China in the forefront. Unsurprisingly, of the five largest telecommunication equipment companies in the world, three are headquartered in the Asia-Pacific region, namely, Huawei, Fujitsu and the NEC Corporation.

Industry revenue of »manufacture of communication equipment« in Hungary from 2011 to 2023

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Supplementary notes

* Estimate - This also applies for past years as data provided by statistical institutions often is not available for more recent years.

Currency conversion factor: (EUR -> USD) = 1.186

The industry classification is based on the NACE Rev.2 - system in Hungary. The industry “manufacture of communication equipment“ has the code “C263“.

Details on the methodology can be found here.

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