Central Asia: Semi-Manufactured Silver Market 2024

Semi-Manufactured Silver Market Size in Central Asia

The Central Asian semi-manufactured silver market shrank slightly to $X in 2021, which is down by -2.5% against the previous year. Over the period under review, consumption, however, showed temperate growth. Over the period under review, the market attained the peak level at $X in 2020, and then contracted modestly in the following year.

Semi-Manufactured Silver Production in Central Asia

In value terms, semi-manufactured silver production soared to $X in 2021 estimated in export price. Overall, production showed pronounced growth. The most prominent rate of growth was recorded in 2017 with an increase of 103%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Semi-Manufactured Silver Exports

Exports in Central Asia

In 2021, approx. X tons of silver in semi-manufactured forms were exported in Central Asia; increasing by 129% on the year before. Over the period under review, exports enjoyed a resilient increase. The growth pace was the most rapid in 2017 with an increase of 498% against the previous year. The volume of export peaked at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, semi-manufactured silver exports skyrocketed to $X in 2021. Overall, exports continue to indicate resilient growth. The most prominent rate of growth was recorded in 2017 with an increase of 395% against the previous year. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Kazakhstan prevails in exports structure, recording X tons, which was near 92% of total exports in 2021. It was distantly followed by Uzbekistan (X tons), creating an 8.2% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to semi-manufactured silver exports from Kazakhstan stood at +14.6%. At the same time, Uzbekistan (+22.2%) displayed positive paces of growth. Moreover, Uzbekistan emerged as the fastest-growing exporter exported in Central Asia, with a CAGR of +22.2% from 2012-2021. Uzbekistan (+3.4 p.p.) significantly strengthened its position in terms of the total exports, while Kazakhstan saw its share reduced by -3.4% from 2012 to 2021, respectively.

In value terms, Kazakhstan ($X) remains the largest semi-manufactured silver supplier in Central Asia, comprising 95% of total exports. The second position in the ranking was held by Uzbekistan ($X), with a 5.3% share of total exports.

In Kazakhstan, semi-manufactured silver exports expanded at an average annual rate of +11.9% over the period from 2012-2021.

Export Prices by Country

The export price in Central Asia stood at $X per ton in 2021, increasing by 51% against the previous year. Over the period under review, the export price, however, saw a noticeable setback. Over the period under review, the export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Kazakhstan ($X per ton), while Uzbekistan totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kazakhstan (-2.3%).

Semi-Manufactured Silver Imports

Imports in Central Asia

In 2021, imports of silver in semi-manufactured forms in Central Asia skyrocketed to X tons, jumping by 64% against the previous year. Over the period under review, imports showed a significant increase. The most prominent rate of growth was recorded in 2019 when imports increased by 115%. The volume of import peaked in 2021 and is likely to see steady growth in the immediate term.

In value terms, semi-manufactured silver imports surged to $X in 2021. Overall, imports saw a buoyant increase. The growth pace was the most rapid in 2017 when imports increased by 139%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in years to come.

Imports by Country

Kazakhstan represented the largest importer of silver in semi-manufactured forms in Central Asia, with the volume of imports recording X kg, which was approx. 63% of total imports in 2021. Uzbekistan (X kg) took the second position in the ranking, distantly followed by Mongolia (X kg). All these countries together held approx. 32% share of total imports. Kyrgyzstan (X kg) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to semi-manufactured silver imports into Kazakhstan stood at +28.2%. At the same time, Mongolia (+29.6%), Kyrgyzstan (+24.4%) and Uzbekistan (+18.6%) displayed positive paces of growth. Moreover, Mongolia emerged as the fastest-growing importer imported in Central Asia, with a CAGR of +29.6% from 2012-2021. Kazakhstan (+23 p.p.) and Mongolia (+4.3 p.p.) significantly strengthened its position in terms of the total imports, while Uzbekistan saw its share reduced by -6.2% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Kazakhstan ($X) constitutes the largest market for imported silver in semi-manufactured forms in Central Asia, comprising 58% of total imports. The second position in the ranking was held by Mongolia ($X), with a 24% share of total imports. It was followed by Uzbekistan, with a 16% share.

In Kazakhstan, semi-manufactured silver imports expanded at an average annual rate of +20.6% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Mongolia (+38.6% per year) and Uzbekistan (+21.6% per year).

Import Prices by Country

The import price in Central Asia stood at $X per ton in 2021, almost unchanged from the previous year. Over the period under review, the import price, however, continues to indicate a perceptible shrinkage. The growth pace was the most rapid in 2020 an increase of 66% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mongolia (+7.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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