Austria: 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 Austria

In 2022, the Austrian market for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver increased by 133% to $X, rising for the fourth consecutive year after two years of decline. Over the period under review, consumption recorded mild growth. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in years to come.

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

In value terms, production of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver amounted to $X in 2022 estimated in export price. Overall, production faced a deep reduction. The most prominent rate of growth was recorded in 2020 with a decrease of -34.7%. Over the period under review, production of reached the maximum level at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

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

Exports from Austria

Exports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver from Austria dropped dramatically to X kg in 2022, with a decrease of -85.1% compared with the previous year. Overall, exports recorded a noticeable decrease. The most prominent rate of growth was recorded in 2021 when exports increased by 917%. As a result, the exports reached the peak of X kg, and then declined sharply in the following year.

In value terms, exports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver reduced markedly to $X in 2022. In general, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when exports increased by 1,224% against the previous year. As a result, the exports reached the peak of $X, and then reduced markedly in the following year.

Exports by Country

Germany (X kg), Switzerland (X kg) and the United States (X kg) were the main destinations of exports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver from Austria, with a combined 66% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Switzerland (with a CAGR of +12.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for non-silver precious metal goldsmiths ware articles exported from Austria were Germany ($X), Switzerland ($X) and Thailand ($X), with a combined 94% share of total exports.

Among the main countries of destination, Thailand, with a CAGR of +41.8%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

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, reducing by -18.9% against the previous year. Over the period under review, the export price, however, enjoyed a notable increase. The most prominent rate of growth was recorded in 2016 when the average export price increased by 49% against the previous year. The export price peaked at $X per kg in 2021, and then reduced markedly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per kg), while the average price for exports to China ($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 Thailand (+32.3%), 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 Austria

In 2022, imports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver into Austria shrank notably to X kg, waning by -76.4% compared with 2021. Over the period under review, imports saw a abrupt slump. The most prominent rate of growth was recorded in 2021 with an increase of 900% against the previous year. As a result, imports reached the peak of X kg, and then dropped markedly in the following year.

In value terms, imports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver shrank rapidly to $X in 2022. In general, imports, however, recorded a notable expansion. The growth pace was the most rapid in 2021 when imports increased by 612% against the previous year. As a result, imports reached the peak of $X, and then dropped rapidly in the following year.

Imports by Country

In 2022, Germany (X kg) constituted the largest non-silver precious metal goldsmiths ware articles supplier to Austria, with a 41% share of total imports. Moreover, imports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver from Germany exceeded the figures recorded by the second-largest supplier, Italy (X kg), fivefold. The third position in this ranking was taken by the United States (X kg), with a 7.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany amounted to -12.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+13.3% per year) and the United States (-15.7% per year).

In value terms, Germany ($X) constituted the largest supplier of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver to Austria, comprising 68% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 9.9% share of total imports. It was followed by Italy, with a 9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany totaled +1.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (0.0% per year) and Italy (+18.7% 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, approximately reflecting the previous year. Overall, the import price, however, posted a remarkable increase. The growth pace was the most rapid in 2018 when the average import price increased by 121%. Over the period under review, average import prices reached the maximum at $X per kg in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Bulgaria ($X per kg), while the price for the United States ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+57.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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