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Hungary - Crude Petroleum Oil - Market Analysis, Forecast, Size, Trends and Insights
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View PricingHungary: Crude Oil Market 2024
Crude Oil Market Size in Hungary
In 2023, the Hungarian crude oil market decreased by X% to $X for the first time since 2020, thus ending a two-year rising trend. Over the period under review, consumption, however, continues to indicate a perceptible contraction. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2023, consumption failed to regain momentum.
Crude Oil Exports
Exports from Hungary
In 2023, exports of crude petroleum oil from Hungary reduced modestly to X tons, approximately mirroring the year before. Overall, exports, however, posted prominent growth. The pace of growth was the most pronounced in 2018 with an increase of X%. The exports peaked at X tons in 2020; however, from 2021 to 2023, the exports remained at a lower figure.
In value terms, crude oil exports soared to $X in 2023. Over the period under review, exports, however, enjoyed noticeable growth. The pace of growth was the most pronounced in 2021 when exports increased by X%. As a result, the exports reached the peak of $X. From 2022 to 2023, the growth of the exports failed to regain momentum.
Exports by Country
Slovakia (X tons) was the main destination for crude oil exports from Hungary, with a X% share of total exports. Moreover, crude oil exports to Slovakia exceeded the volume sent to the second major destination, Croatia (X tons), more than tenfold. Serbia (X tons) ranked third in terms of total exports with a X% share.
From 2012 to 2023, the average annual rate of growth in terms of volume to Slovakia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Croatia (X% per year) and Serbia (X% per year).
In value terms, Slovakia ($X) emerged as the key foreign market for crude petroleum oil exports from Hungary, comprising X% of total exports. The second position in the ranking was held by Croatia ($X), with a X% share of total exports. It was followed by Serbia, with a X% share.
From 2012 to 2023, the average annual rate of growth in terms of value to Slovakia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Croatia (X% per year) and Serbia (X% per year).
Export Prices by Country
In 2023, the average crude oil export price amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, the export price, however, saw a deep reduction. The most prominent rate of growth was recorded in 2021 when the average export price increased by X%. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2023, the export prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Croatia ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Bosnia and Herzegovina (X%), while the prices for the other major destinations experienced a decline.
Crude Oil Imports
Imports into Hungary
In 2023, purchases abroad of crude petroleum oil increased by X% to X tons, rising for the third consecutive year after two years of decline. In general, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2023, the growth of imports remained at a somewhat lower figure.
In value terms, crude oil imports shrank to $X in 2023. Over the period under review, imports, however, recorded a perceptible curtailment. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2023, imports remained at a lower figure.
Imports by Country
In 2023, Russia (X tons) constituted the largest supplier of crude oil to Hungary, with a X% share of total imports. Moreover, crude oil imports from Russia exceeded the figures recorded by the second-largest supplier, Kazakhstan (X tons), eightfold. The third position in this ranking was taken by Croatia (X tons), with a X% share.
From 2012 to 2023, the average annual rate of growth in terms of volume from Russia totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Kazakhstan (X% per year) and Croatia (X% per year).
In value terms, Russia ($X) constituted the largest supplier of crude petroleum oil to Hungary, comprising X% of total imports. The second position in the ranking was held by Kazakhstan ($X), with a X% share of total imports. It was followed by Croatia, with an X% share.
From 2012 to 2023, the average annual growth rate of value from Russia stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Kazakhstan (X% per year) and Croatia (X% per year).
Import Prices by Country
In 2023, the average crude oil import price amounted to $X per ton, which is down by X% against the previous year. In general, the import price showed a noticeable slump. The growth pace was the most rapid in 2021 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2023, import prices failed to regain momentum.
Average prices varied somewhat amongst the major supplying countries. In 2023, amid the top importers, the highest price was recorded for prices from Kazakhstan ($X per ton) and Croatia ($X per ton), while the price for Iraq ($X per ton) and Russia ($X per ton) were amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Kazakhstan (X%), while the prices for the other major suppliers experienced mixed trend patterns.
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This report provides an in-depth analysis of the crude oil market in Hungary. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
Country coverage:
- Hungary
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Hungary
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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