Key Market Indicators
Hungary's nickel imports are projected to surge to approximately $54.6 million by 2028, up from $48.1 million in 2023. This represents an average annual growth rate of 2%. The country's demand for nickel has been on a steady rise, increasing by an average of 3.3% each year since 1997. In contrast, Hungary's nickel exports are expected to plummet. Forecasts indicate a drop to roughly $538,000 by 2028, down from $1.2 million in 2023. This decline represents a compound annual growth rate (CAGR) of -12.4%. Hungarian nickel supply has been shrinking consistently, decreasing by an average of 6.2% per year since 1997. As of 2023, Hungary ranks 51st globally in nickel exports, with Latvia holding the same export value of $1.2 million. Leading the rankings are Canada, Russia, and Malaysia, occupying the second, third, and fourth positions, respectively.
