Hungary: Salt Market 2024

Salt Market Size in Hungary

The Hungarian salt market dropped to $X in 2022, with a decrease of X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Salt Production in Hungary

In value terms, salt production expanded to $X in 2022 estimated in export price. Overall, the total production indicated pronounced growth 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 decreased by X% against 2016 indices. The growth pace was the most rapid in 2014 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

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Salt Exports

Exports from Hungary

In 2022, approx. X tons of salt and pure sodium chloride were exported from Hungary; growing by X% against 2021 figures. Overall, exports saw prominent growth. The growth pace was the most rapid in 2017 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, salt exports soared to $X in 2022. In general, exports saw strong growth. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Slovakia (X tons) was the main destination for salt exports from Hungary, with a X% share of total exports. Moreover, salt exports to Slovakia exceeded the volume sent to the second major destination, Serbia (X tons), fourfold. Ukraine (X tons) ranked third in terms of total exports with a X% share.

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

In value terms, Slovakia ($X), Serbia ($X) and Ukraine ($X) constituted the largest markets for salt exported from Hungary worldwide, together accounting for X% of total exports.

Among the main countries of destination, Ukraine, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average salt export price amounted to $X per ton, growing by X% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2021 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Austria ($X per ton), while the average price for exports to Slovakia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Romania (X%), while the prices for the other major destinations experienced more modest paces of growth.

Salt Imports

Imports into Hungary

In 2022, the amount of salt and pure sodium chloride imported into Hungary reduced rapidly to X tons, declining by X% compared with the previous year's figure. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, salt imports contracted to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when imports increased by X%. Over the period under review, imports reached the maximum at $X in 2021, and then shrank in the following year.

Imports by Country

In 2022, Romania (X tons) constituted the largest supplier of salt to Hungary, with a X% share of total imports. Moreover, salt imports from Romania exceeded the figures recorded by the second-largest supplier, Austria (X tons), fivefold. Ukraine (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Romania was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (X% per year) and Ukraine (X% per year).

In value terms, Romania ($X) constituted the largest supplier of salt and pure sodium chloride to Hungary, comprising X% of total imports. The second position in the ranking was held by Austria ($X), with a X% share of total imports. It was followed by Germany, with a X% share.

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

Import Prices by Country

The average salt import price stood at $X per ton in 2022, surging by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2020 when the average import price increased by X% against the previous year. The import price peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Romania ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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