Candle exports from Hungary to increase between 2020 and 2024

By: Trademagazin Date: 2025. 10. 29. 11:46

🎧 Hallgasd a cikket: Nyelv: Sebesség: 1.05×

On November 1, All Saints’ Day, millions of people in Hungary also light candles in cemeteries to remember their deceased loved ones. Although the holiday is primarily spiritual in nature, foreign trade data shows that the candle industry also plays an important role from an economic perspective. According to an analysis by Akcenta, based on data from the International Trade Center (ITC), Hungary’s candle exports increased from 34.8 million euros to 54.2 million euros between 2020 and 2024. Although there is a 9.3% decline compared to 2023, the sector continues to show a positive foreign trade balance – in 2024 it amounted to 4.06 million euros.

Germany, Denmark, the Czech Republic and Italy are the most important target markets

Hungarian candles are primarily sold to European markets. In 2024, the largest buyers were Germany (16.3 million euros), Denmark (5.9 million euros), the Czech Republic (5.3 million euros) and Italy (4.9 million euros). Interestingly, some of Hungary’s candles even reached Poland (worth 1.8 million euros), although Poland is the world’s second largest candle producer after China.

Positive foreign trade balance in the candle market

Due to the limited level of imports from non-European countries, the foreign trade balance of Hungary’s candle industry remains positive. In 2024, the surplus was 4.06 million euros. This shows that although exports decreased by 9.3% compared to 2023, Hungary is not only able to cover domestic needs, but also successfully competes in regional markets.

Although Hungarian exports have increased, the country continues to import candles – primarily from Poland. In 2024, the value of imports from Poland reached 22.8 million euros, making Poland Hungary’s largest supplier. China was in second place (EUR 11.7 million), and Slovakia was in third place (EUR 4.4 million). This means that Poland exports almost twice as many candles to Hungary as China.

– In international trade – especially between countries outside the eurozone, such as Poland and Hungary – proper management of currency risk is crucial. For years, Akcenta has been supporting exporters and importers in efficient settlement in different currencies and in concluding hedging transactions against exchange rate fluctuations. Thanks to this, companies can focus on developing trade and production, rather than on exchange rate risk, says Eduárd Kusala, Commercial Director of Akcenta’s Hungarian office.

Global market context – growing competition from Asia

On the global market, it can be seen that European manufacturers, including Hungary, are facing increasingly strong competition from Asian exporters. China exported candles worth 946 million euros in 2024 (+8% year-on-year), achieving a 21% global market share. Vietnam, with exports of 718 million euros, an increase of 62%, gained a market share of 16.1% – almost catching up with Poland, which achieved exports of 727 million euros.

– In international trade – especially between countries outside the eurozone, such as Poland and Hungary – proper management of currency risk is key. For years, Akcenta has been supporting exporters and importers in efficient settlement in different currencies and in concluding hedging transactions against exchange rate fluctuations. Thanks to this, companies can focus on developing trade and production, rather than on exchange rate risk, says Eduárd Kusala, Commercial Director of Akcenta’s Hungarian office.

Tags: Akcenta