Bahrain: 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 Bahrain

In 2022, the Bahraini market for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver decreased by -69% to $X, falling for the second year in a row after seven years of growth. Overall, consumption saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

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

Exports from Bahrain

In 2022, exports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver from Bahrain reduced dramatically to X kg, shrinking by -94.7% on 2021 figures. Over the period under review, exports saw a dramatic decrease. The growth pace was the most rapid in 2015 with an increase of 194%. As a result, the exports reached the peak of X kg. From 2016 to 2022, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver contracted markedly to $X in 2022. Overall, exports continue to indicate a precipitous setback. The most prominent rate of growth was recorded in 2021 when exports increased by 400%. Over the period under review, the exports of attained the maximum at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X kg) was the main destination for exports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver from Bahrain, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the United Arab Emirates was relatively modest.

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver exports from Bahrain.

From 2012 to 2022, the average annual growth rate of value to the United Arab Emirates amounted to -12.0%.

Export Prices by Country

The average export price for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver stood at $X per kg in 2022, falling by -56.4% against the previous year. In general, the export price recorded a noticeable downturn. The pace of growth appeared the most rapid in 2014 an increase of 245% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per kg in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for the United Arab Emirates.

From 2012 to 2022, the rate of growth in terms of prices for Hong Kong SAR amounted to +55.9% per year.

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

Imports into Bahrain

In 2022, supplies from abroad of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver decreased by -62.2% to X tons, falling for the second year in a row after seven years of growth. Over the period under review, imports, however, posted a perceptible expansion. The growth pace was the most rapid in 2020 when imports increased by 85%. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver dropped markedly to $X in 2022. Overall, imports showed a abrupt decline. The most prominent rate of growth was recorded in 2020 when imports increased by 94%. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports of failed to regain momentum.

Imports by Country

In 2022, China (X kg) constituted the largest non-silver precious metal goldsmiths ware articles supplier to Bahrain, with a 56% share of total imports. Moreover, imports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver from China exceeded the figures recorded by the second-largest supplier, Saudi Arabia (X kg), twofold. The third position in this ranking was held by India (X kg), with a 4.8% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +35.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Saudi Arabia (+0.2% per year) and India (+22.3% per year).

In value terms, Saudi Arabia ($X) constituted the largest supplier of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver to Bahrain, comprising 47% of total imports. The second position in the ranking was taken by China ($X), with a 14% share of total imports. It was followed by India, with an 8.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Saudi Arabia amounted to -12.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+19.3% per year) and India (-0.6% per year).

Import Prices by Country

In 2022, the average import price for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver amounted to $X per kg, which is down by -48.9% against the previous year. In general, the import price faced a abrupt decrease. The most prominent rate of growth was recorded in 2021 when the average import price increased by 18% against the previous year. Over the period under review, average import prices hit record highs at $X per kg in 2013; however, from 2014 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 Saudi Arabia ($X per kg), while the price for Switzerland ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+24.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform