Pharmaceutical Goods Price in Hungary - 2023

Contents:

1. Pharmaceutical Goods Price in Hungary (FOB) - 2023
2. Pharmaceutical Goods Price in Hungary (CIF) - 2022
3. Pharmaceutical Goods Exports in Hungary
4. Pharmaceutical Goods Imports in Hungary

Pharmaceutical Goods Price in Hungary (FOB) - 2023

In June 2023, the average pharmaceutical goods export price amounted to $85,640 per ton, reducing by -19.1% against the previous month. Overall, export price indicated slight growth from June 2022 to June 2023: its price increased at an average monthly rate of +1.6% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on June 2023 figures, pharmaceutical goods export price decreased by -19.1% against May 2023 indices. The pace of growth appeared the most rapid in November 2022 when the average export price increased by 43% m-o-m. Over the period under review, the average export prices attained the maximum at $106K per ton in May 2023, and then fell rapidly in the following month.

There were significant differences in the average prices for the major external markets. In June 2023, the country with the highest price was Russia ($315K per ton), while the average price for exports to Costa Rica ($19,413 per ton) was amongst the lowest.

From June 2022 to June 2023, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+7.5%), while the prices for the other major destinations experienced more modest paces of growth.

Pharmaceutical Goods Price in Hungary (CIF) - 2022

In 2022, the average pharmaceutical goods import price amounted to $69,195 per ton, declining by -14.1% against the previous year. Over the period under review, the import price continues to indicate a pronounced slump. The most prominent rate of growth was recorded in 2016 an increase of 123%. Over the period under review, average import prices hit record highs at $281,682 per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

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 the Netherlands ($305,903 per ton), while the price for Italy ($9,454 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+13.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Pharmaceutical Goods Exports in Hungary

Pharmaceutical goods exports from Hungary rose rapidly to 13K tons in 2022, picking up by 12% against 2021 figures. In general, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 102%. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in the near future.

In value terms, pharmaceutical goods exports expanded markedly to $905M in 2022. The total export value increased at an average annual rate of +5.0% over the period from 2019 to 2022; however, the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Top Export Markets for Pharmaceutical Goods from Hungary in 2022:

1. Germany (2832.2 tons)
2. Spain (1318.0 tons)
3. United Kingdom (1226.0 tons)
4. United States (800.8 tons)
5. France (778.9 tons)
6. Russia (653.9 tons)
7. Italy (582.2 tons)
8. China (517.3 tons)
9. Poland (374.3 tons)
10. Costa Rica (330.9 tons)
11. Brazil (292.8 tons)
12. Romania (266.9 tons)
13. Japan (256.8 tons)

Pharmaceutical Goods Imports in Hungary

In 2022, pharmaceutical goods imports into Hungary surged to 2.1K tons, picking up by 117% on 2021. Overall, imports continue to indicate a significant increase. The growth pace was the most rapid in 2020 when imports increased by 156% against the previous year. Imports peaked in 2022 and are likely to continue growth in the near future.

In value terms, pharmaceutical goods imports soared to $143M in 2022. Over the period under review, imports continue to indicate a significant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Top Suppliers of Pharmaceutical Goods to Hungary in 2022:

1. Costa Rica (593.7 tons)
2. China (383.9 tons)
3. Italy (261.8 tons)
4. Germany (165.1 tons)
5. Austria (144.9 tons)
6. France (74.9 tons)
7. Netherlands (70.8 tons)
8. United Kingdom (70.4 tons)
9. Belgium (67.3 tons)
10. Norway (61.3 tons)
11. Spain (35.0 tons)
12. Poland (34.9 tons)
13. Denmark (10.0 tons)

Source: IndexBox Market Intelligence Platform