Australia: Market for Articles of Goldsmiths’ or Silversmiths’ Wares of Precious Metals other than Silver 2024

Market Size for Articles of Goldsmiths’ or Silversmiths’ Wares of Precious Metals other than Silver in Australia

The Australian market for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver skyrocketed to $X in 2022, picking up by 82% against the previous year. In general, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Production of Articles of Goldsmiths’ or Silversmiths’ Wares of Precious Metals other than Silver in Australia

In value terms, production of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver dropped markedly to less than $X in 2022 estimated in export price. In general, production posted a moderate expansion. The most prominent rate of growth was recorded in 2020 with an increase of 130,107%. As a result, production attained the peak level of $X. From 2021 to 2022, production of growth failed to regain momentum.

Exports of Articles of Goldsmiths’ or Silversmiths’ Wares of Precious Metals other than Silver

Exports from Australia

In 2022, overseas shipments of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver decreased by -30.8% to X kg, falling for the second consecutive year after three years of growth. In general, exports continue to indicate a abrupt curtailment. The pace of growth appeared the most rapid in 2014 when exports increased by 954% against the previous year. Over the period under review, the exports of reached the maximum at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, exports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver fell markedly to $X in 2022. Over the period under review, exports recorded a noticeable decline. The most prominent rate of growth was recorded in 2014 with an increase of 1,099%. Over the period under review, the exports of reached the peak figure at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

New Zealand (X kg) was the main destination for exports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver from Australia, with a 33% share of total exports. Moreover, exports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver to New Zealand exceeded the volume sent to the second major destination, Austria (X kg), sixfold. The third position in this ranking was taken by New Caledonia (X kg), with a 5.6% share.

From 2012 to 2022, the average annual growth rate of volume to New Zealand amounted to +19.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Austria (0.0% per year) and New Caledonia (0.0% per year).

In value terms, New Zealand ($X) emerged as the key foreign market for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver exports from Australia, comprising 59% of total exports. The second position in the ranking was held by Canada ($X), with a 13% share of total exports. It was followed by Hong Kong SAR, with a 7.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to New Zealand amounted to +87.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (0.0% per year) and Hong Kong SAR (-21.3% per year).

Export Prices by Country

In 2022, the average export price for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver amounted to $X per kg, shrinking by -18.6% against the previous year. Overall, the export price, however, posted a perceptible expansion. The most prominent rate of growth was recorded in 2015 when the average export price increased by 77%. Over the period under review, the average export prices reached the maximum at $X per kg in 2019; however, from 2020 to 2022, 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 Canada ($X per kg), while the average price for exports to Austria ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (+103.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Articles of Goldsmiths’ or Silversmiths’ Wares of Precious Metals other than Silver

Imports into Australia

In 2022, supplies from abroad of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver was finally on the rise to reach X kg for the first time since 2019, thus ending a two-year declining trend. Overall, imports, however, recorded a noticeable slump. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, imports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver surged to $X in 2022. Over the period under review, imports posted significant growth. The most prominent rate of growth was recorded in 2019 when imports increased by 440% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports of remained at a lower figure.

Imports by Country

The United Arab Emirates (X kg), New Zealand (X kg) and China (X kg) were the main suppliers of imports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver to Australia, together accounting for 90% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United Arab Emirates (with a CAGR of +115.7%), while imports for the other leaders experienced mixed trend patterns.

In value terms, New Zealand ($X) constituted the largest supplier of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver to Australia, comprising 61% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 13% share of total imports. It was followed by the UK, with a 5.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value from New Zealand stood at +74.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+52.4% per year) and the UK (+20.7% per year).

Import Prices by Country

The average import price for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver stood at $X per kg in 2022, which is down by -51.2% against the previous year. Over the period under review, the import price, however, posted significant growth. The most prominent rate of growth was recorded in 2019 an increase of 388%. As a result, import price reached the peak level of $X per kg. From 2020 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per kg), while the price for the United Arab Emirates ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+37.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :