Hungary: Overview of the Market for Cultured Pearls, Precious Or Semi-Precious Stones 2021

Market Size for Cultured Pearls, Precious Or Semi-Precious Stones in Hungary

The Hungarian precious stone and pearl market reached $X in 2020, stabilizing at 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). Overall, consumption, however, showed a deep slump. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, the market hit record highs at $X in 2007; however, from 2008 to 2020, consumption failed to regain the momentum.

Exports of Cultured Pearls, Precious Or Semi-Precious Stones

Exports from Hungary

In 2020, overseas shipments of cultured pearls, precious or semi-precious stones increased by X% to X kg, rising for the fourth year in a row after two years of decline. In general, exports enjoyed prominent growth. The pace of growth appeared the most rapid in 2008 with an increase of X% y-o-y. Exports peaked at X kg in 2014; however, from 2015 to 2020, exports stood at a somewhat lower figure.

In value terms, precious stone and pearl exports rose remarkably to $X in 2020. Overall, exports recorded buoyant growth. The pace of growth appeared the most rapid in 2008 when exports increased by X% year-to-year. Over the period under review, exports hit record highs at $X in 2011; however, from 2012 to 2020, exports stood at a somewhat lower figure.

Exports by Country

Switzerland (X kg), Serbia (X kg) and China (X kg) were the main destinations of precious stone and pearl exports from Hungary, together comprising X% of total exports.

From 2007 to 2020, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by China (+X% per year), while exports for the other leaders experienced more modest paces of growth.

In value terms, Switzerland ($X) remains the key foreign market for precious stone and pearl exports from Hungary, comprising X% of total exports. The second position in the ranking was occupied by China ($X), with a X% share of total exports.

From 2007 to 2020, the average annual rate of growth in terms of value to Switzerland amounted to -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-X% per year) and Serbia (+X% per year).

Export Prices by Country

In 2020, the average precious stone and pearl export price amounted to $X per kg, surging by X% against the previous year. In general, the export price enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2015 an increase of X% y-o-y. Over the period under review, average export prices reached the peak figure at $X per kg in 2017; however, from 2018 to 2020, export prices remained at a lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was China ($X per kg), while the average price for exports to Serbia ($X per kg) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Serbia (+X% per year), while the prices for the other major destinations experienced a decline.

Imports of Cultured Pearls, Precious Or Semi-Precious Stones

Imports into Hungary

Precious stone and pearl imports into Hungary reached X tonnes in 2020, surging by X% on the year before. Overall, imports, however, recorded a deep setback. The most prominent rate of growth was recorded in 2017 with an increase of X% year-to-year. Imports peaked at X tonnes in 2007; however, from 2008 to 2020, imports stood at a somewhat lower figure.

In value terms, precious stone and pearl imports expanded modestly to $X in 2020. Over the period under review, imports, however, posted a resilient increase. The most prominent rate of growth was recorded in 2015 with an increase of X% year-to-year. Imports peaked at $X in 2016; however, from 2017 to 2020, imports remained at a lower figure.

Imports by Country

In 2020, Madagascar (X tonnes) constituted the largest supplier of precious stone and pearl to Hungary, accounting for a X% share of total imports. Moreover, precious stone and pearl imports from Madagascar exceeded the figures recorded by the second-largest supplier, China (X tonnes), threefold. The Czech Republic (X tonnes) ranked third in terms of total imports with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of volume from Madagascar amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+X% per year) and the Czech Republic (+X% per year).

In value terms, Belgium ($X), China ($X) and Madagascar ($X) constituted the largest precious stone and pearl suppliers to Hungary, with a combined X% share of total imports.

Among the main suppliers, China recorded 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

In 2020, the average precious stone and pearl import price amounted to $X per tonne, therefore, remained relatively stable against the previous year. In general, the import price continues to indicate a significant increase. The pace of growth appeared the most rapid in 2008 when the average import price increased by X% year-to-year. Over the period under review, average import prices hit record highs at $X per tonne in 2009; however, from 2010 to 2020, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was Belgium ($X per tonne), while the price for Madagascar ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by China, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for cultured pearls, precious or semi-precious stones in the world?

+

The countries with the highest volumes of precious stone and pearl consumption in 2020 were China (425K tonnes), Hong Kong SAR (232K tonnes) and Mauritius (95K tonnes), with a combined 80% share of global consumption.

What are the largest producers of cultured pearls, precious or semi-precious stones in the world?

+

Thailand (185K tonnes) remains the largest precious stone and pearl producing country worldwide, accounting for 95% of total volume.

What are the leading suppliers of cultured pearls, precious or semi-precious stones to Hungary?

+

In value terms, the largest precious stone and pearl suppliers to Hungary were Belgium ($220K), China ($169K) and Madagascar ($21K), together comprising 31% of total imports.

What are the leading importers of cultured pearls, precious or semi-precious stones from Hungary?

+

In value terms, Switzerland ($6.2K) remains the key foreign market for precious stone and pearl exports from Hungary, comprising 0.9% of total exports. The second position in the ranking was occupied by China ($2.8K), with a 0.4% share of total exports.

What is the average export price for cultured pearls, precious or semi-precious stones in Hungary?

+

The average precious stone and pearl export price stood at $61,647 per kg in 2020, surging by 11% against the previous year.

What is the average import price for cultured pearls, precious or semi-precious stones in Hungary?

+

In 2020, the average precious stone and pearl import price amounted to $46,963 per tonne, approximately equating the previous year.