Seals; Mechanical Price in Hungary - 2023

Seals; Mechanical Price in Hungary (CIF) - 2022

In 2022, the average seals; mechanical import price amounted to $2.3 per unit, dropping by -25.1% against the previous year. Over the period under review, the import price continues to indicate a perceptible descent. The most prominent rate of growth was recorded in 2018 when the average import price increased by 24% against the previous year. Over the period under review, average import prices attained the peak figure at $4 per unit in 2013; however, from 2014 to 2022, import prices stood at a somewhat 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 United States ($17 per unit), while the price for the Czech Republic ($1.1 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+9.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Seals; Mechanical Price in Hungary (FOB) - 2023

In August 2023, the average seals; mechanical export price amounted to $3.8 per unit, dropping by -10.7% against the previous month. Overall, the export price, however, showed a measured expansion. The most prominent rate of growth was recorded in December 2022 when the average export price increased by 65% against the previous month. Over the period under review, the average export prices hit record highs at $5.0 per unit in June 2023; however, from July 2023 to August 2023, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In August 2023, the country with the highest price was Serbia ($15.6 per unit), while the average price for exports to Ukraine ($991 per thousand units) was amongst the lowest.

From August 2022 to August 2023, the most notable rate of growth in terms of prices was recorded for supplies to Serbia (+17.3%), while the prices for the other major destinations experienced more modest paces of growth.

Seals; Mechanical Imports in Hungary

In 2022, the amount of seals; mechanicals imported into Hungary soared to 6.6M units, jumping by 37% on the year before. Overall, total imports indicated a prominent increase from 2019 to 2022: its volume increased at an average annual rate of +6.3% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +60.8% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, seals; mechanical imports rose slightly to $15M in 2022. Over the period under review, imports, however, recorded a slight setback. The most prominent rate of growth was recorded in 2021 when imports increased by 6.2% against the previous year. Over the period under review, imports reached the maximum at $16M in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Import of Seals; Mechanical in Hungary (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Germany	8.2	7.5	6.2	5.8	-10.9%
Netherlands	1.1	0.9	1.3	1.1	0.0%
Denmark	0.8	0.8	1.1	1.1	11.2%
United Kingdom	0.3	0.3	1.1	1.1	54.2%
Italy	0.4	0.3	0.5	0.8	26.0%
Japan	1.1	0.4	0.7	0.8	-10.1%
Czech Republic	0.7	0.6	0.5	0.6	-5.0%
Poland	0.4	0.4	0.6	0.6	14.5%
China	0.5	0.4	0.5	0.6	6.3%
Austria	0.7	0.4	0.6	0.1	-47.7%
Others	1.9	2.1	2.3	2.9	15.1%
Total	16.1	14.2	15.1	15.4	-1.5%

Top Suppliers of Seals; Mechanical to Hungary in 2022:

Germany (3095.5K units)
Netherlands (760.9K units)
Denmark (625.7K units)
Czech Republic (526.3K units)
Poland (299.7K units)
China (276.0K units)
Japan (240.8K units)
Italy (152.5K units)
United Kingdom (113.9K units)
Austria (25.3K units)

Seals; Mechanical Exports in Hungary

In 2022, overseas shipments of seals; mechanicals increased by 43% to 3.7M units for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, showed a drastic downturn. Over the period under review, the exports attained the maximum at 5.4M units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, seals; mechanical exports soared to $7.8M in 2022. In general, exports, however, recorded a abrupt contraction. Over the period under review, the exports reached the peak figure at $14M in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Export of Seals; Mechanical in Hungary (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Germany	10,406	1,430	1,129	1,264	-50.5%
China	197	845	765	1,066	75.6%
Romania	469	512	589	806	19.8%
United States	328	267	297	635	24.6%
Netherlands	113	152	506	537	68.1%
Singapore	302	271	227	463	15.3%
Switzerland	166	199	177	380	31.8%
United Kingdom	27.5	82.1	126	297	121.0%
Austria	324	330	329	282	-4.5%
Serbia	205	168	250	209	0.6%
Denmark	240	5.3	5.7	98.8	-25.6%
Others	1,547	1,806	1,382	1,749	4.2%
Total	14,324	6,068	5,783	7,785	-18.4%