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Turkey - Silver Including Silver Plated With Gold Or Platinum - Market Analysis, Forecast, Size, Trends and Insights
Report Update: Feb 1, 2025

Turkey - Silver Including Silver Plated With Gold Or Platinum - Market Analysis, Forecast, Size, Trends and Insights

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Dec 8, 2024

Turkey Sees Significant Drop in Silver Imports, Falling to $1.2 Billion in 2023

Turkey Silver Imports

In 2023, after four years of growth, there was significant decline in purchases abroad of silver including silver plated with gold or platinum, when their volume decreased by -25.7% to 1.5K tons. Overall, imports, however, recorded a strong expansion. The pace of growth appeared the most rapid in 2022 when imports increased by 180%. As a result, imports attained the peak of 2.1K tons, and then dropped dramatically in the following year.

In value terms, silver imports declined notably to $1.2B (IndexBox estimates) in 2023. In general, imports, however, showed a strong increase. The pace of growth appeared the most rapid in 2022 with an increase of 181% against the previous year. As a result, imports attained the peak of $1.5B, and then contracted dramatically in the following year.Turkey Silver Imports By Country (Million USD)

COUNTRYImport Value of Silver in Turkey (million USD)
20132014201520162017201820192020202120222023
Switzerland91.554.694.6N/A18.557.159.0130242176366
United Arab Emirates23.17.32.712.72.2N/AN/A14.70.90.4243
China3.713.52.70.20.50.20.10.20.1415150
RussiaN/A1.11.5N/AN/A6.6N/A29.520149370.9
KazakhstanN/AN/AN/AN/AN/A6.0N/A26.517.418961.6
Taiwan (Chinese)N/AN/A0.2N/AN/AN/AN/AN/AN/A63.353.9
UzbekistanN/AN/AN/AN/AN/AN/AN/AN/AN/A54.052.0
Belgium0.20.12.156.649.312.468.741.717.23.439.2
Germany17.410.87.022.116.118.640.212131.67.110.6
Others66.086.851.372.660.142.022.996.534.7130144
Total2021741621641471431914605451,5321,192

Imports by Country

Switzerland (443 tons), the United Arab Emirates (322 tons) and China (182 tons) were the main suppliers of silver imports to Turkey, together comprising 62% of total imports. Russia, Kazakhstan, Taiwan (Chinese), Uzbekistan, Belgium and Germany lagged somewhat behind, together comprising a further 23%.

From 2013 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Taiwan (Chinese) (with a CAGR of +98.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Switzerland ($366M), the United Arab Emirates ($243M) and China ($150M) appeared to be the largest silver suppliers to Turkey, with a combined 64% share of total imports. Russia, Kazakhstan, Taiwan (Chinese), Uzbekistan, Belgium and Germany lagged somewhat behind, together accounting for a further 24%.

Among the main suppliers, Taiwan (Chinese), with a CAGR of +102.9%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the silver price amounted to $776,862 per ton (CIF, Turkey), picking up by 4.7% against the previous year. Over the period under review, import price indicated a temperate expansion from 2013 to 2023: its price increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, silver import price increased by +64.6% against 2018 indices. The growth pace was the most rapid in 2020 an increase of 43% against the previous year. The import price peaked in 2023 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 Uzbekistan ($877,990 per ton), while the price for Hungary ($136,622 per ton) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was attained by Uzbekistan (+25.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the silver market in Turkey. 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:

  • Prodcom 24411030 - Silver, unwrought or in powder form (including plated with gold or platinum)
  • Prodcom 24411050 - Silver, in semi-manufactured forms (including plated with gold or platinum) (excluding unwrought or in powder form)

Country coverage:

  • Turkey

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in Turkey
  • 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:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. 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.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 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
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2024
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2024
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. LIST OF TABLES

    1. Key Findings In 2024
    2. Market Volume, In Physical Terms, 2012–2024
    3. Market Value, 2012–2024
    4. Per Capita Consumption In 2012-2024
    5. Imports, In Physical Terms, By Country, 2012–2024
    6. Imports, In Value Terms, By Country, 2012–2024
    7. Import Prices, By Country Of Origin, 2012–2024
    8. Exports, In Physical Terms, By Country, 2012–2024
    9. Exports, In Value Terms, By Country, 2012–2024
    10. Export Prices, By Country Of Destination, 2012–2024

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2024
    2. Market Value, 2012–2024
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
    5. Trade Balance, In Physical Terms, 2012-2024
    6. Trade Balance, In Value Terms, 2012-2024
    7. Per Capita Consumption, 2012-2024
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    14. Production Volume And Growth
    15. Exports And Growth
    16. Export Prices And Growth
    17. Market Size And Growth
    18. Per Capita Consumption
    19. Imports And Growth
    20. Import Prices
    21. Production, In Physical Terms, 2012–2024
    22. Production, In Value Terms, 2012–2024
    23. Imports, In Physical Terms, 2012–2024
    24. Imports, In Value Terms, 2012–2024
    25. Imports, In Physical Terms, By Country, 2024
    26. Imports, In Physical Terms, By Country, 2012–2024
    27. Imports, In Value Terms, By Country, 2012–2024
    28. Import Prices, By Country Of Origin, 2012–2024
    29. Exports, In Physical Terms, 2012–2024
    30. Exports, In Value Terms, 2012–2024
    31. Exports, In Physical Terms, By Country, 2024
    32. Exports, In Physical Terms, By Country, 2012–2024
    33. Exports, In Value Terms, By Country, 2012–2024
    34. Export Prices, By Country Of Destination, 2012–2024

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