Hungary: Semi-Manufactured Gold Market 2025

Semi-Manufactured Gold Market Size in Hungary

The Hungarian semi-manufactured gold market skyrocketed to $X in 2022, surging by 149% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption saw a resilient increase. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in years to come.

Semi-Manufactured Gold Exports

Exports from Hungary

In 2022, approx. X kg of gold, in semi-manufactured forms were exported from Hungary; waning by -58.9% compared with the previous year's figure. In general, exports continue to indicate a deep downturn. The pace of growth appeared the most rapid in 2014 with an increase of 208% against the previous year. Over the period under review, the exports reached the maximum at X kg in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, semi-manufactured gold exports shrank notably to $X in 2022. Over the period under review, exports recorded a abrupt curtailment. The pace of growth was the most pronounced in 2019 with an increase of 216%. The exports peaked at $X in 2021, and then shrank dramatically in the following year.

Exports by Country

Austria (X kg) was the main destination for semi-manufactured gold exports from Hungary, accounting for a 74% share of total exports. Moreover, semi-manufactured gold exports to Austria exceeded the volume sent to the second major destination, Bulgaria (X kg), eightfold. The third position in this ranking was held by Estonia (X kg), with an 8.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Austria stood at +8.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bulgaria (-90.3% per year) and Estonia (+1.3% per year).

In value terms, Austria ($X) emerged as the key foreign market for gold, in semi-manufactured forms exports from Hungary, comprising 76% of total exports. The second position in the ranking was taken by Estonia ($X), with an 8.3% share of total exports. It was followed by Bulgaria, with a 5.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Austria stood at +12.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (+4.7% per year) and Bulgaria (-94.3% per year).

Export Prices by Country

The average semi-manufactured gold export price stood at $X per kg in 2022, shrinking by -3.9% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 34%. Over the period under review, the average export prices attained the peak figure at $X per kg in 2021, and then contracted in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+7.5%), while the prices for the other major destinations experienced more modest paces of growth.

Semi-Manufactured Gold Imports

Imports into Hungary

In 2022, the amount of gold, in semi-manufactured forms imported into Hungary surged to X tons, jumping by 120% on 2021 figures. In general, imports continue to indicate buoyant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, semi-manufactured gold imports surged to $X in 2022. Overall, imports showed a strong increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Austria (X tons), Germany (X tons) and Italy (X kg) were the main suppliers of semi-manufactured gold imports to Hungary, together comprising 97% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Austria (with a CAGR of +13.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Austria ($X) constituted the largest supplier of gold, in semi-manufactured forms to Hungary, comprising 65% of total imports. The second position in the ranking was held by Germany ($X), with a 27% share of total imports. It was followed by Italy, with a 5.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Austria stood at +14.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+8.9% per year) and Italy (+7.6% per year).

Import Prices by Country

The average semi-manufactured gold import price stood at $X per kg in 2022, approximately equating the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the average import price increased by 42% against the previous year. Over the period under review, average import prices hit record highs at $X per kg in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Slovakia ($X per kg) and Austria ($X per kg), while the price for Germany ($X per kg) and Italy ($X per kg) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovakia (+2.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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