Belgium: 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 Belgium

The Belgian market for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver rose markedly to $X in 2022, picking up by 14% against the previous year. Overall, consumption, however, recorded a relatively flat trend pattern. Consumption of peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

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

In value terms, production of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver reached $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. As a result, production reached the peak level and is likely to continue growth in the immediate term.

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

Exports from Belgium

After three years of growth, overseas shipments of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver decreased by -99.3% to X kg in 2022. Over the period under review, exports, however, enjoyed a significant expansion. The pace of growth was the most pronounced in 2021 with an increase of 37,226% against the previous year. As a result, the exports attained the peak of X tons, and then fell rapidly in the following year.

In value terms, exports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver soared to $X in 2022. In general, exports, however, posted a significant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 1,964% against the previous year. Over the period under review, the exports of reached the maximum in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Germany (X kg) was the main destination for exports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver from Belgium, with a 68% share of total exports. Moreover, exports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver to Germany exceeded the volume sent to the second major destination, France (X kg), threefold. The third position in this ranking was taken by the United States (X kg), with a 3.4% share.

From 2012 to 2022, the average annual growth rate of volume to Germany stood at -99.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+164.6% per year) and the United States (+11.6% per year).

In value terms, Germany ($X), France ($X) and the United States ($X) were the largest markets for non-silver precious metal goldsmiths ware articles exported from Belgium worldwide, together accounting for 100% of total exports. The UK lagged somewhat behind, comprising a further 0.2%.

Among the main countries of destination, the UK, with a CAGR of +598.4%, saw 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, rising by 17,347% against the previous year. Overall, the export price recorded a strong expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was France ($X per kg), while the average price for exports to the UK ($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 Germany (+21,031.4%), 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 Belgium

After three years of growth, supplies from abroad of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver decreased by -82.7% to X kg in 2022. Overall, imports, however, recorded a prominent increase. The most prominent rate of growth was recorded in 2020 when imports increased by 248% against the previous year. Imports peaked at X kg in 2021, and then contracted markedly in the following year.

In value terms, imports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver dropped remarkably to $X in 2022. In general, imports saw a deep slump. The most prominent rate of growth was recorded in 2017 when imports increased by 1,838%. Over the period under review, imports of attained the peak figure at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the UK (X kg) constituted the largest non-silver precious metal goldsmiths ware articles supplier to Belgium, accounting for a 35% share of total imports. Moreover, imports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver from the UK exceeded the figures recorded by the second-largest supplier, the United States (X kg), twofold. The third position in this ranking was held by Hong Kong SAR (X kg), with a 14% share.

From 2012 to 2022, the average annual growth rate of volume from the UK totaled +45.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+24.6% per year) and Hong Kong SAR (+23.1% per year).

In value terms, Hong Kong SAR ($X), the UK ($X) and the United States ($X) were the largest non-silver precious metal goldsmiths ware articles suppliers to Belgium, with a combined 80% share of total imports.

The UK, with a CAGR of +61.3%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

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, increasing by 35% against the previous year. In general, the import price, however, saw a sharp curtailment. The most prominent rate of growth was recorded in 2017 an increase of 546% against the previous year. Over the period under review, average import prices attained the peak figure at $X per kg in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Hong Kong SAR ($X per kg), while the price for Finland ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+57.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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