Africa: Market for Articles of Goldsmiths’ Wares of Base Metal Clad with Precious Metal 2024

Market Size for Articles of Goldsmiths’ Wares of Base Metal Clad with Precious Metal in Africa

The African market for articles of goldsmiths’ wares of base metal clad with precious metal was estimated at $X in 2022, remaining relatively unchanged against the previous year. In general, consumption, however, enjoyed a prominent increase. Over the period under review, the market reached the peak level in 2022 and is expected to retain growth in the near future.

Production of Articles of Goldsmiths’ Wares of Base Metal Clad with Precious Metal in Africa

In value terms, production of articles of goldsmiths’ wares of base metal clad with precious metal reached $X in 2022 estimated in export price. In general, production, however, showed a buoyant increase. The pace of growth appeared the most rapid in 2017 when the production volume increased by 57% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Articles of Goldsmiths’ Wares of Base Metal Clad with Precious Metal

Exports in Africa

In 2022, shipments abroad of articles of goldsmiths’ wares of base metal clad with precious metal was finally on the rise to reach X tons for the first time since 2018, thus ending a three-year declining trend. Over the period under review, exports, however, saw a abrupt curtailment. The growth pace was the most rapid in 2013 with an increase of 117%. The volume of export peaked at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, exports of articles of goldsmiths’ wares of base metal clad with precious metal soared to $X in 2022. Overall, exports showed buoyant growth. The most prominent rate of growth was recorded in 2014 when exports increased by 240% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

In 2022, South Africa (X tons) represented the major exporter of articles of goldsmiths’ wares of base metal clad with precious metal, creating 70% of total exports. Tunisia (X kg) took a 19% share (based on physical terms) of total exports, which put it in second place, followed by Egypt (4.6%). Algeria (X kg) followed a long way behind the leaders.

Exports from South Africa decreased at an average annual rate of -7.1% from 2012 to 2022. At the same time, Tunisia (+33.8%) and Egypt (+2.2%) displayed positive paces of growth. Moreover, Tunisia emerged as the fastest-growing exporter exported in Africa, with a CAGR of +33.8% from 2012-2022. By contrast, Algeria (-29.3%) illustrated a downward trend over the same period. Tunisia (+19 p.p.), Egypt (+2.6 p.p.) and Algeria (+1.6 p.p.) significantly strengthened its position in terms of the total exports, while South Africa saw its share reduced by -10% from 2012 to 2022, respectively.

In value terms, South Africa ($X) emerged as the largest precious metal-clad goldsmiths ware articles of base metals supplier in Africa, comprising 60% of total exports. The second position in the ranking was held by Tunisia ($X), with a 25% share of total exports. It was followed by Egypt, with a 0.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value in South Africa stood at +4.5%. In the other countries, the average annual rates were as follows: Tunisia (+40.0% per year) and Egypt (-7.9% per year).

Export Prices by Country

The export price in Africa stood at $X per ton in 2022, surging by 15% against the previous year. Overall, the export price posted a buoyant expansion. The pace of growth appeared the most rapid in 2014 when the export price increased by 112% against the previous year. Over the period under review, the export prices hit record highs in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Tunisia ($X per ton), while Egypt ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (+12.5%), while the other leaders experienced mixed trends in the export price figures.

Imports of Articles of Goldsmiths’ Wares of Base Metal Clad with Precious Metal

Imports in Africa

In 2022, approx. X tons of articles of goldsmiths’ wares of base metal clad with precious metal were imported in Africa; waning by -21.1% compared with 2021. Over the period under review, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 106% against the previous year. Over the period under review, imports of reached the maximum at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, imports of articles of goldsmiths’ wares of base metal clad with precious metal plummeted to $X in 2022. In general, imports saw a perceptible downturn. The most prominent rate of growth was recorded in 2014 with an increase of 74% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports of remained at a lower figure.

Imports by Country

Nigeria represented the major importer of articles of goldsmiths’ wares of base metal clad with precious metal in Africa, with the volume of imports amounting to X tons, which was near 65% of total imports in 2022. It was distantly followed by Morocco (X tons) and South Africa (X tons), together committing a 19% share of total imports. Equatorial Guinea (X kg), Angola (X kg) and Namibia (X kg) took a relatively small share of total imports.

Nigeria was also the fastest-growing in terms of the articles of goldsmiths’ wares of base metal clad with precious metal imports, with a CAGR of +17.0% from 2012 to 2022. At the same time, Angola (+6.9%), Equatorial Guinea (+5.4%) and Namibia (+1.7%) displayed positive paces of growth. By contrast, Morocco (-6.7%) and South Africa (-15.6%) illustrated a downward trend over the same period. While the share of Nigeria (+51 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Morocco (-13.6 p.p.) and South Africa (-27.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X), Morocco ($X) and Equatorial Guinea ($X) constituted the countries with the highest levels of imports in 2022, together accounting for 79% of total imports.

Nigeria, with a CAGR of +9.3%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Africa amounted to $X per ton, dropping by -5.5% against the previous year. Overall, the import price continues to indicate a noticeable slump. The most prominent rate of growth was recorded in 2020 when the import price increased by 63% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Morocco ($X per ton), while Angola ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Morocco (+8.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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