Austria: Silver Market 2024

Silver Market Size in Austria

In 2021, the Austrian silver market increased by 27% to $X, rising for the fourth consecutive year after two years of decline. Overall, consumption posted a prominent increase. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Silver Production in Austria

In value terms, silver production dropped to $X in 2021 estimated in export price. Overall, production, however, recorded a significant increase. The most prominent rate of growth was recorded in 2020 when the production volume increased by 62%. As a result, production attained the peak level of $X, and then reduced in the following year.

Silver Exports

Exports from Austria

After four years of decline, overseas shipments of silver including silver plated with gold or platinum increased by 74% to X tons in 2021. Overall, exports, however, recorded a abrupt descent. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, silver exports skyrocketed to $X in 2021. Over the period under review, exports, however, showed a abrupt decline. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X tons) was the main destination for silver exports from Austria, with a 52% share of total exports. Moreover, silver exports to Germany exceeded the volume sent to the second major destination, France (X tons), fivefold. The Czech Republic (X tons) ranked third in terms of total exports with a 9.6% share.

From 2012 to 2021, the average annual growth rate of volume to Germany totaled -3.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+35.0% per year) and the Czech Republic (-0.7% per year).

In value terms, Germany ($X) remains the key foreign market for silver including silver plated with gold or platinum exports from Austria, comprising 53% of total exports. The second position in the ranking was taken by the Czech Republic ($X), with a 12% share of total exports. It was followed by France, with an 11% share.

From 2012 to 2021, the average annual growth rate of value to Germany stood at -6.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Czech Republic (-2.3% per year) and France (+36.6% per year).

Export Prices by Country

The average silver export price stood at $X per ton in 2021, surging by 19% against the previous year. In general, the export price, however, showed a noticeable slump. The pace of growth was the most pronounced in 2020 an increase of 36% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was the Czech Republic ($X per ton), while the average price for exports to Bosnia and Herzegovina ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Hungary (+10.7%), while the prices for the other major destinations experienced more modest paces of growth.

Silver Imports

Imports into Austria

In 2021, purchases abroad of silver including silver plated with gold or platinum increased by 26% to X tons, rising for the fourth year in a row after two years of decline. Over the period under review, imports showed moderate growth. The pace of growth appeared the most rapid in 2013 when imports increased by 75% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, silver imports skyrocketed to $X in 2021. In general, imports enjoyed a slight expansion. The most prominent rate of growth was recorded in 2020 with an increase of 128% against the previous year. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

Switzerland (X tons), Germany (X tons) and the UK (X tons) were the main suppliers of silver imports to Austria, together accounting for 97% of total imports.

From 2012 to 2021, the biggest increases were recorded for the UK (with a CAGR of +80.1%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest silver suppliers to Austria were Switzerland ($X), Germany ($X) and the UK ($X), together accounting for 97% of total imports.

In terms of the main suppliers, the UK, with a CAGR of +92.3%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average silver import price amounted to $X per ton, picking up by 25% against the previous year. Overall, the import price, however, saw a perceptible downturn. The pace of growth appeared the most rapid in 2020 an increase of 42%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+6.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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