Greece: Bauxite Market 2024

Bauxite Market Size in Greece

In 2022, after five years of growth, there was significant decline in the Greek bauxite market, when its value decreased by -10.1% to $X. In general, the total consumption indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2021, and then fell in the following year.

Bauxite Production in Greece

In value terms, bauxite production expanded markedly to $X in 2022 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 27%. Bauxite production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Bauxite Exports

Exports from Greece

Bauxite exports from Greece dropped notably to X tons in 2022, shrinking by -24.5% on 2021. Over the period under review, exports faced a abrupt descent. The growth pace was the most rapid in 2016 when exports increased by 32%. As a result, the exports reached the peak of X tons. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, bauxite exports contracted rapidly to $X in 2022. Overall, exports continue to indicate a deep setback. The growth pace was the most rapid in 2014 when exports increased by 36% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

France (X tons) was the main destination for bauxite exports from Greece, with a 95% share of total exports. Moreover, bauxite exports to France exceeded the volume sent to the second major destination, Sweden (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to France stood at -4.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (0.0% per year) and Germany (-22.2% per year).

In value terms, France ($X) remains the key foreign market for bauxite exports from Greece, comprising 93% of total exports. The second position in the ranking was taken by Sweden ($X), with a 5.8% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to France amounted to -3.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (0.0% per year) and Germany (-21.6% per year).

Export Prices by Country

In 2022, the average bauxite export price amounted to $X per ton, falling by -6.1% against the previous year. Overall, export price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, bauxite export price increased by +61.7% against 2017 indices. The growth pace was the most rapid in 2018 an increase of 24% against the previous year. The export price peaked at $X per ton in 2021, and then shrank in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Sweden ($X per ton), while the average price for exports to Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (+1.8%), while the prices for the other major destinations experienced more modest paces of growth.

Bauxite Imports

Imports into Greece

In 2022, after five years of growth, there was significant decline in supplies from abroad of bauxite, when their volume decreased by -33.1% to X tons. Over the period under review, imports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 264% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then reduced markedly in the following year.

In value terms, bauxite imports reduced to $X in 2022. In general, imports, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 249% against the previous year. Imports peaked at $X in 2021, and then fell in the following year.

Imports by Country

In 2022, Brazil (X tons) constituted the largest supplier of bauxite to Greece, with a 69% share of total imports. Moreover, bauxite imports from Brazil exceeded the figures recorded by the second-largest supplier, Turkey (X tons), fivefold. The third position in this ranking was taken by Guinea (X tons), with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Brazil stood at +8.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+34.1% per year) and Guinea (+9.2% per year).

In value terms, Brazil ($X) constituted the largest supplier of bauxite to Greece, comprising 75% of total imports. The second position in the ranking was held by Turkey ($X), with a 10% share of total imports. It was followed by Guinea, with an 8.2% share.

From 2012 to 2022, the average annual growth rate of value from Brazil amounted to +10.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+36.3% per year) and Guinea (+6.6% per year).

Import Prices by Country

In 2022, the average bauxite import price amounted to $X per ton, growing by 27% against the previous year. Overall, the import price saw a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Brazil ($X per ton), while the price for Guinea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+1.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :