CIS: 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 CIS

In 2022, the CIS market for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver decreased by -35.3% to $X, falling for the second consecutive year after two years of growth. In general, consumption recorded a deep reduction. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

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

In value terms, production of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver stood at $X in 2022 estimated in export price. In general, production, however, recorded perceptible growth. The growth pace was the most rapid in 2020 when the production volume increased by 388% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production of growth failed to regain momentum.

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

Exports in CIS

In 2022, exports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver in the CIS dropped notably to X kg, waning by -81.7% on 2021. In general, exports recorded a abrupt curtailment. The pace of growth was the most pronounced in 2013 when exports increased by 425% against the previous year. As a result, the exports attained the peak of X kg. From 2014 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver reduced sharply to $X in 2022. Over the period under review, exports showed a perceptible decrease. The pace of growth appeared the most rapid in 2013 when exports increased by 869%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports of failed to regain momentum.

Exports by Country

In 2022, Uzbekistan (X kg) represented the main exporter of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver, constituting 55% of total exports. Belarus (X kg) held the second position in the ranking, followed by Kazakhstan (X kg) and Kyrgyzstan (X kg). All these countries together took near 45% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to non-silver precious metal goldsmiths ware articles exports from Uzbekistan stood at -50.0%. At the same time, Belarus (+12.2%) displayed positive paces of growth. Moreover, Belarus emerged as the fastest-growing exporter exported in the CIS, with a CAGR of +12.2% from 2012-2022. By contrast, Kyrgyzstan (-11.5%) and Kazakhstan (-14.9%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Uzbekistan, Belarus and Kyrgyzstan increased by +55, +18 and +9.1 percentage points, respectively.

In value terms, Uzbekistan ($X) remains the largest non-silver precious metal goldsmiths ware articles supplier in the CIS, comprising 93% of total exports. The second position in the ranking was taken by Kyrgyzstan ($X), with a 6.6% share of total exports. It was followed by Kazakhstan, with a 0.2% share.

In Uzbekistan, exports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver plunged by an average annual rate of -52.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Kyrgyzstan (+12.5% per year) and Kazakhstan (-42.5% per year).

Export Prices by Country

The export price in the CIS stood at $X per kg in 2022, rising by 94% against the previous year. Overall, the export price enjoyed measured growth. The pace of growth was the most pronounced in 2021 when the export price increased by 316%. The level of export peaked at $X per kg in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Uzbekistan ($X per kg), while Belarus ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kyrgyzstan (+27.1%), while the other leaders experienced a decline in the export price figures.

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

Imports in CIS

In 2022, the amount of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver imported in the CIS reduced dramatically to X kg, which is down by -66.3% compared with the year before. In general, imports saw a deep setback. The growth pace was the most rapid in 2014 when imports increased by 193% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, imports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver dropped sharply to $X in 2022. Over the period under review, imports continue to indicate a abrupt setback. The most prominent rate of growth was recorded in 2021 when imports increased by 551% against the previous year. Over the period under review, imports of reached the peak figure at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Russia (X kg) and Moldova (X kg) were the major importers of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver in 2022, reaching near 51% and 34% of total imports, respectively. It was distantly followed by Azerbaijan (X kg), mixing up a 10% share of total imports. The following importers - Belarus (X kg) and Kazakhstan (X kg) - each resulted at a 3.4% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Moldova (with a CAGR of +31.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X) constitutes the largest market for imported articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver in the CIS, comprising 84% of total imports. The second position in the ranking was taken by Azerbaijan ($X), with an 11% share of total imports. It was followed by Moldova, with a 5.5% share.

In Russia, imports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver decreased by an average annual rate of -6.9% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Azerbaijan (+16.5% per year) and Moldova (+30.4% per year).

Import Prices by Country

In 2022, the import price in the CIS amounted to $X per kg, growing by 44% against the previous year. Over the period under review, the import price posted a resilient increase. The pace of growth appeared the most rapid in 2019 an increase of 368% against the previous year. As a result, import price reached the peak level of $X per kg. From 2020 to 2022, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Russia ($X per kg), while Belarus ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+18.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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