Belgium: Silver Market 2025

Silver Market Size in Belgium

The Belgian silver market declined to $X in 2021, which is down by -7.3% against the previous year. Overall, consumption showed a mild setback. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Silver Production in Belgium

In value terms, silver production contracted to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a drastic downturn. The most prominent rate of growth was recorded in 2018 when the production volume increased by 352%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Silver Exports

Exports from Belgium

In 2021, exports of silver including silver plated with gold or platinum from Belgium declined to X tons, falling by -8.3% on 2020 figures. In general, exports showed a abrupt downturn. The pace of growth was the most pronounced in 2018 when exports increased by 23,776% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, silver exports soared to $X in 2021. Overall, exports recorded a deep setback. The most prominent rate of growth was recorded in 2018 when exports increased by 45,679% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Germany (X tons) was the main destination for silver exports from Belgium, with a 71% share of total exports. Moreover, silver exports to Germany exceeded the volume sent to the second major destination, Thailand (X tons), fourfold. The third position in this ranking was taken by France (X tons), with a 3.4% share.

From 2012 to 2021, the average annual growth rate of volume to Germany stood at +3.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+266.7% per year) and France (+26.9% per year).

In value terms, Germany ($X) remains the key foreign market for silver including silver plated with gold or platinum exports from Belgium, comprising 71% of total exports. The second position in the ranking was held by Thailand ($X), with a 17% share of total exports. It was followed by France, with a 3.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Germany totaled -4.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+419.5% per year) and France (+17.3% per year).

Export Prices by Country

The average silver export price stood at $X per ton in 2021, with an increase of 31% against the previous year. Overall, the export price, however, saw a noticeable curtailment. The pace of growth was the most pronounced in 2018 when the average export price increased by 92%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Thailand ($X per ton), while the average price for exports to Brazil ($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 Thailand (+35.0%), while the prices for the other major destinations experienced a decline.

Silver Imports

Imports into Belgium

Silver imports into Belgium contracted to X tons in 2021, with a decrease of -12.9% against the previous year's figure. Overall, imports continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2020 when imports increased by 22%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, silver imports skyrocketed to $X in 2021. In general, imports faced a deep reduction. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the UK (X tons) constituted the largest supplier of silver to Belgium, accounting for a 66% share of total imports. Moreover, silver imports from the UK exceeded the figures recorded by the second-largest supplier, Germany (X tons), fivefold. France (X tons) ranked third in terms of total imports with a 6.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the UK amounted to -9.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+15.1% per year) and France (+8.9% per year).

In value terms, the UK ($X) constituted the largest supplier of silver including silver plated with gold or platinum to Belgium, comprising 83% of total imports. The second position in the ranking was taken by the United States ($X), with a 7.5% share of total imports. It was followed by Germany, with a 3.2% share.

From 2012 to 2021, the average annual growth rate of value from the UK totaled -12.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-10.4% per year) and Germany (-6.2% per year).

Import Prices by Country

The average silver import price stood at $X per ton in 2021, picking up by 61% against the previous year. Overall, the import price, however, showed a pronounced decrease. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, 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 ($X per ton), while the price for Italy ($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 United States (+12.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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