Hungary: Unwrought Silver Market 2025

Unwrought Silver Market Size in Hungary

The Hungarian unwrought silver market surged to $X in 2021, rising by 39% against the previous year. Overall, consumption, however, saw a abrupt slump. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Unwrought Silver Production in Hungary

In value terms, unwrought silver production stood at $X in 2021 estimated in export price. In general, production saw strong growth. The growth pace was the most rapid in 2016 when the production volume increased by 72%. As a result, production attained the peak level of $X. From 2017 to 2021, production growth remained at a somewhat lower figure.

Unwrought Silver Exports

Exports from Hungary

In 2021, approx. X tons of silver, unwrought or in powder form were exported from Hungary; picking up by 50% on the year before. Over the period under review, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2014 with an increase of 146% against the previous year. The exports peaked in 2021 and are likely to continue growth in years to come.

In value terms, unwrought silver exports surged to $X in 2021. Overall, exports recorded significant growth. The most prominent rate of growth was recorded in 2014 when exports increased by 968%. The exports peaked in 2021 and are likely to see steady growth in years to come.

Exports by Country

China (X tons), Turkey (X tons) and the United States (X tons) were the main destinations of unwrought silver exports from Hungary, with a combined 79% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by China (with a CAGR of +368.2%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for unwrought silver exported from Hungary were China ($X), Germany ($X) and Turkey ($X), together accounting for 41% of total exports. These countries were followed by the United States, Mexico, the UK and Malaysia, which together accounted for a further 14%.

The UK, with a CAGR of +233.7%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average unwrought silver export price amounted to $X per ton, rising by 7.6% against the previous year. Overall, the export price, however, showed a deep slump. The growth pace was the most rapid in 2014 when the average export price increased by 334% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (+9.4%), while the prices for the other major destinations experienced more modest paces of growth.

Unwrought Silver Imports

Imports into Hungary

In 2021, the amount of silver, unwrought or in powder form imported into Hungary surged to X tons, jumping by 77% on 2020. In general, imports, however, continue to indicate a mild downturn. The most prominent rate of growth was recorded in 2020 when imports increased by 530%. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, unwrought silver imports soared to $X in 2021. Over the period under review, imports posted prominent growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The United States (X tons), Romania (X tons) and Germany (X tons) were the main suppliers of unwrought silver imports to Hungary, with a combined 92% share of total imports. These countries were followed by China, Taiwan (Chinese) and the Netherlands, which together accounted for a further 5.2%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +1,424.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the United States ($X) and Romania ($X) appeared to be the largest unwrought silver suppliers to Hungary, with a combined 67% share of total imports. These countries were followed by the Netherlands, China and Taiwan (Chinese), which together accounted for a further 5.4%.

In terms of the main suppliers, China, with a CAGR of +1,617.7%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average unwrought silver import price stood at $X per ton in 2021, with an increase of 5.8% against the previous year. In general, the import price saw a buoyant expansion. The pace of growth was the most pronounced in 2015 when the average import price increased by 535% against the previous year. The import price peaked at $X per ton in 2017; however, from 2018 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+49.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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