Hungary: Diamond Market Overview 2020

Diamond Market Size in Hungary

The revenue of the diamond market in Hungary amounted to $X in 2018, coming down by -X% against the previous year. Over the period under review, diamond consumption continues to indicate a precipitous decline. The most prominent rate of growth was recorded in 2014 with an increase of X% y-o-y. In that year, the diamond market reached its peak level of $X. From 2015 to 2018, the growth of the diamond market remained at a lower figure.

Diamond Production in Hungary

In value terms, diamond production totaled $X in 2018 estimated in export prices. In general, diamond production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with a decrease of -X% y-o-y. Diamond production peaked at $X in 2007; however, from 2008 to 2018, production stood at a somewhat lower figure.

Diamond Exports

Exports from Hungary

In 2018, approx. X tonnes of diamonds and other precious stones (unworked) were exported from Hungary; going up by X% against the previous year. In general, diamond exports continue to indicate skyrocketing growth. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. In that year, diamond exports reached their peak and are likely to continue its growth in the immediate term.

In value terms, diamond exports totaled $X in 2018. Over the period under review, diamond exports continue to indicate a deep slump. The most prominent rate of growth was recorded in 2015 when exports increased by X% against the previous year. In that year, diamond exports reached their peak of $X. From 2016 to 2018, the growth of diamond exports failed to regain its momentum.

Exports by Country

Romania (X tonnes) was the main destination for diamond exports from Hungary, with a X% share of total exports. Moreover, diamond exports to Romania exceeded the volume sent to the second major destination, China (X kg), ninefold.

From 2007 to 2018, the average annual rate of growth in terms of volume to Romania totaled +X%.

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

From 2007 to 2018, the average annual growth rate of value to China totaled +X%.

Export Prices by Country

The average diamond export price stood at $X per tonne in 2018, declining by -X% against the previous year. Overall, the diamond export price continues to indicate a sharp decrease. The growth pace was the most rapid in 2015 when the average export price increased by X% against the previous year. In that year, the average export prices for diamonds and other precious stones (unworked) reached their peak level of $X per tonne. From 2016 to 2018, the growth in terms of the average export prices for diamonds and other precious stones (unworked) failed to regain its momentum.

Prices varied noticeably by the country of destination; the country with the highest price was China ($X per tonne), while the average price for exports to Romania totaled $X per tonne.

From 2007 to 2018, the most notable rate of growth in terms of prices was recorded for supplies to China (-X% per year).

Diamond Imports

Imports into Hungary

In 2018, approx. X tonnes of diamonds and other precious stones (unworked) were imported into Hungary; increasing by X% against the previous year. In general, diamond imports continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. Over the period under review, diamond imports attained their maximum at X tonnes in 2014; however, from 2015 to 2018, imports failed to regain their momentum.

In value terms, diamond imports stood at $X in 2018. Over the period under review, diamond imports continue to indicate skyrocketing growth. The pace of growth appeared the most rapid in 2017 when imports increased by X% against the previous year. Imports peaked in 2018 and are expected to retain its growth in the near future.

Imports by Country

The Czech Republic (X kg), Madagascar (X kg) and Croatia (X kg) were the main suppliers of diamond imports to Hungary, with a combined X% share of total imports. These countries were followed by China, Hong Kong SAR, India and Germany, which together accounted for a further X 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main suppliers, was attained by India (+X% per year), while the other leaders experienced more modest paces of growth.

In value terms, the largest diamond suppliers to Hungary were Germany ($X), Croatia ($X) and China, Hong Kong SAR ($X), with a combined X% share of total imports. These countries were followed by India, the Czech Republic and Madagascar, which together accounted for a further X the main suppliers, India (+X% per year) recorded the highest rates of growth with regard to imports, over the last eleven years, while the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2018, the average diamond import price amounted to $X per tonne, lowering by -X% against the previous year. Over the period under review, the diamond import price, however, continues to indicate remarkable growth. The pace of growth was the most pronounced in 2016 an increase of X% y-o-y. Over the period under review, the average import prices for diamonds and other precious stones (unworked) reached their maximum at $X per tonne in 2017, and then declined slightly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2018, the country with the highest price was Germany ($X per tonne), while the price for Madagascar ($X per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Germany, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox AI Platform