Benelux: 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 Benelux

In 2022, the Benelux market for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver decreased by -4.2% to $X, falling for the second consecutive year after four years of growth. Overall, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market remained at a lower figure.

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

In value terms, production of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver declined slightly to $X in 2022 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 6.7%. The level of production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

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

Exports in Benelux

In 2022, after two years of growth, there was significant decline in shipments abroad of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver, when their volume decreased by -95.8% to X kg. Over the period under review, exports recorded a slight decrease. The most prominent rate of growth was recorded in 2021 when exports increased by 4,311% against the previous year. As a result, the exports attained the peak of X tons, and then shrank remarkably in the following year.

In value terms, exports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver skyrocketed to $X in 2022. Overall, exports, however, showed a buoyant expansion. The pace of growth was the most pronounced in 2021 with an increase of 228% against the previous year. The level of export peaked in 2022 and is expected to retain growth in years to come.

Exports by Country

In 2022, the Netherlands (X kg) was the largest exporter of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver, creating 84% of total exports. It was distantly followed by Belgium (X kg), generating a 16% share of total exports.

Exports from the Netherlands increased at an average annual rate of +6.6% from 2012 to 2022. At the same time, Belgium (+27.0%) displayed positive paces of growth. Moreover, Belgium emerged as the fastest-growing exporter exported in Benelux, with a CAGR of +27.0% from 2012-2022. The Netherlands (+45 p.p.) and Belgium (+15 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Belgium ($X) remains the largest non-silver precious metal goldsmiths ware articles supplier in Benelux, comprising 67% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a 33% share of total exports.

In Belgium, exports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver expanded at an average annual rate of +47.9% over the period from 2012-2022.

Export Prices by Country

The export price in Benelux stood at $X per kg in 2022, with an increase of 2,744% against the previous year. In general, the export price posted a buoyant expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Belgium ($X per kg), while the Netherlands stood at $X per kg.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+16.5%).

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

Imports in Benelux

In 2022, supplies from abroad of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver decreased by -45.4% to X tons for the first time since 2017, thus ending a four-year rising trend. Over the period under review, imports, however, showed a measured increase. The growth pace was the most rapid in 2015 with an increase of 667%. As a result, imports attained the peak of X tons. From 2016 to 2022, the growth of imports of remained at a lower figure.

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 recorded a slight curtailment. The most prominent rate of growth was recorded in 2015 with an increase of 661%. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports of failed to regain momentum.

Imports by Country

The Netherlands dominates silver structure, finishing at X tons, which was near 87% of total imports in 2022. Luxembourg (X kg) ranks second in terms of the total imports with a 7.8% share, followed by Belgium (4.8%).

From 2012 to 2022, average annual rates of growth with regard to non-silver precious metal goldsmiths ware articles imports into the Netherlands stood at +2.0%. At the same time, Belgium (+15.1%) and Luxembourg (+4.8%) displayed positive paces of growth. Moreover, Belgium emerged as the fastest-growing importer imported in Benelux, with a CAGR of +15.1% from 2012-2022. Belgium (+3.3 p.p.) and Luxembourg (+1.6 p.p.) significantly strengthened its position in terms of the total imports, while the Netherlands saw its share reduced by -4.8% from 2012 to 2022, respectively.

In value terms, the Netherlands ($X) constitutes the largest market for imported articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver in Benelux, comprising 90% of total imports. The second position in the ranking was held by Luxembourg ($X), with a 5.9% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in the Netherlands was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: Luxembourg (+2.8% per year) and Belgium (-10.3% per year).

Import Prices by Country

The import price in Benelux stood at $X per kg in 2022, reducing by -8.5% against the previous year. In general, the import price saw a perceptible contraction. The pace of growth was the most pronounced in 2016 an increase of 30%. As a result, import price reached the peak level of $X per kg. From 2017 to 2022, the import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($X per kg), while Luxembourg ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Luxembourg (-2.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform