Hungary: Platinum Market 2024

Platinum Market Size in Hungary

The Hungarian platinum market rose to $X in 2022, surging by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Platinum Production in Hungary

In value terms, platinum production stood at $X in 2022 estimated in export price. Overall, the total production indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2014 when the production volume increased by X% against the previous year. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Platinum Exports

Exports from Hungary

In 2022, overseas shipments of platinum decreased by X% to X kg for the first time since 2018, thus ending a three-year rising trend. Overall, exports, however, continue to indicate a prominent increase. The growth pace was the most rapid in 2020 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at X kg in 2021, and then shrank notably in the following year.

In value terms, platinum exports shrank rapidly to $X in 2022. Over the period under review, exports, however, continue to indicate a mild expansion. The pace of growth was the most pronounced in 2020 when exports increased by X%. The exports peaked at $X in 2021, and then dropped rapidly in the following year.

Exports by Country

Germany (X kg) was the main destination for platinum exports from Hungary, with a X% share of total exports. It was followed by Italy (X kg), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (X% per year) and Slovakia (X% per year).

In value terms, Germany ($X) remains the key foreign market for platinum exports from Hungary, comprising X% of total exports. The second position in the ranking was held by Italy ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Germany amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (X% per year) and Slovakia (X% per year).

Export Prices by Country

The average platinum export price stood at $X per kg in 2022, waning by X% against the previous year. In general, the export price showed a deep reduction. The pace of growth appeared the most rapid in 2018 an increase of X%. As a result, the export price reached the peak level of $X per kg. From 2019 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per kg), while the average price for exports to Germany ($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 Slovakia (X%), while the prices for the other major destinations experienced a decline.

Platinum Imports

Imports into Hungary

In 2022, purchases abroad of platinum decreased by X% to X kg, falling for the second year in a row after two years of growth. Overall, imports, however, recorded a temperate increase. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, platinum imports declined to $X in 2022. In general, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when imports increased by X%. Imports peaked at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Germany (X kg) constituted the largest supplier of platinum to Hungary, accounting for a X% share of total imports. Moreover, platinum imports from Germany exceeded the figures recorded by the second-largest supplier, the United States (X kg), eightfold.

From 2012 to 2022, the average annual growth rate of volume from Germany totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Italy (X% per year).

In value terms, Germany ($X) constituted the largest supplier of platinum to Hungary, comprising X% of total imports. The second position in the ranking was held by Italy ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (X% per year) and the United States (X% per year).

Import Prices by Country

In 2022, the average platinum import price amounted to $X per kg, with an increase of X% against the previous year. In general, the import price, however, showed a perceptible decline. The growth pace was the most rapid in 2021 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the peak figure at $X per kg in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per kg), while the price for the United States ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovakia (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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