Price for Cycles; Parts Thereof, Wheel Rims and Spokes in Hungary - 2023

Price for Cycles; Parts Thereof, Wheel Rims and Spokes in Hungary (FOB) - 2023

The average export price for cycles; parts thereof, wheel rims and spokeses stood at $7,215 per ton in November 2023, remaining stable against the previous month. Over the period from November 2022 to November 2023, it increased at an average monthly rate of +1.0%. The pace of growth appeared the most rapid in April 2023 an increase of 14% month-to-month. The export price peaked at $7,431 per ton in July 2023; however, from August 2023 to November 2023, the export prices stood at a somewhat lower figure.

Prices varied noticeably by the country of destination: the country with the highest price was the UK ($17,693 per ton), while the average price for exports to Germany ($6,873 per ton) was amongst the lowest.

From November 2022 to November 2023, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+1.2%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Cycles; Parts Thereof, Wheel Rims and Spokes in Hungary (CIF) - 2023

In November 2023, the average import price for cycles; parts thereof, wheel rims and spokeses amounted to $7,746 per ton, declining by -17.3% against the previous month. Over the last twelve-month period, it increased at an average monthly rate of +1.5%. The pace of growth appeared the most rapid in February 2023 when the average import price increased by 29% m-o-m. The import price peaked at $9,371 per ton in October 2023, and then shrank sharply in the following month.

Prices varied noticeably by the country of origin: the country with the highest price was Germany ($20,422 per ton), while the price for Belgium ($3,203 per ton) was amongst the lowest.

From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by France (+6.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Exports of Cycles; Parts Thereof, Wheel Rims and Spokes in Hungary

Exports of cycles; parts thereof, wheel rims and spokeses from Hungary expanded significantly to 2.1K tons in 2022, increasing by 5.2% on 2021 figures. The total export volume increased at an average annual rate of +9.2% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 25% against the previous year. Over the period under review, the exports of reached the maximum in 2022 and are likely to continue growth in years to come.

In value terms, exports of cycles; parts thereof, wheel rims and spokeses skyrocketed to $14M in 2022. Overall, exports posted significant growth. The pace of growth appeared the most rapid in 2021 with an increase of 56%. Over the period under review, the exports of reached the maximum in 2022 and are expected to retain growth in years to come.

Export of Cycles; Parts Thereof, Wheel Rims and Spokes in Hungary (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Netherlands	2,808	2,817	3,621	5,526	25.3%
Germany	344	658	1,722	2,632	97.0%
United Kingdom	689	519	1,280	1,199	20.3%
Lithuania	544	495	870	1,092	26.1%
Austria	310	255	512	1,045	49.9%
Poland	238	261	344	654	40.1%
Bulgaria	180	138	189	428	33.5%
Belgium	99.4	65.2	211	193	24.8%
Czech Republic	614	276	35.9	101	-45.2%
Romania	440	230	73.3	70.4	-45.7%
Others	162	337	597	633	57.5%
Total	6,429	6,052	9,456	13,573	28.3%

Top Export Markets for Cycles; Parts Thereof, Wheel Rims and Spokes from Hungary in 2022:

Netherlands (932.7 tons)
Germany (444.3 tons)
Lithuania (184.4 tons)
Austria (176.2 tons)
Poland (109.1 tons)
United Kingdom (84.6 tons)
Bulgaria (72.5 tons)
Belgium (32.5 tons)
Czech Republic (16.8 tons)
Romania (11.5 tons)

Imports of Cycles; Parts Thereof, Wheel Rims and Spokes in Hungary

In 2022, the amount of cycles; parts thereof, wheel rims and spokeses imported into Hungary surged to 2.2K tons, with an increase of 40% compared with the previous year. In general, imports continue to indicate a significant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, imports of cycles; parts thereof, wheel rims and spokeses skyrocketed to $13M in 2022. Overall, imports enjoyed a significant increase. The growth pace was the most rapid in 2021 with an increase of 47%. Imports peaked in 2022 and are likely to continue growth in the near future.

Import of Cycles; Parts Thereof, Wheel Rims and Spokes in Hungary (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
France	1,490	1,605	2,076	2,413	17.4%
Netherlands	700	969	673	2,351	49.8%
Germany	130	258	1,238	2,068	151.5%
Portugal	1,563	1,438	1,665	1,560	-0.1%
Belgium	6.0	43.3	1,497	1,555	537.6%
China	139	421	519	915	87.4%
Italy	434	434	451	505	5.2%
Czech Republic	97.9	178	271	425	63.1%
Others	355	870	734	1,293	53.9%
Total	4,916	6,217	9,125	13,085	38.6%