Costa Rica: 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 Costa Rica

The Costa Rican market for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver fell to $X in 2022, which is down by -4.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2021, and then shrank modestly in the following year.

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

Exports from Costa Rica

In 2022, shipments abroad of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver decreased by -60% to X kg, falling for the second consecutive year after two years of growth. In general, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when exports increased by 5,833% against the previous year. The exports peaked at X kg in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, exports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver soared to $X in 2022. Overall, exports, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 2,018,671% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X kg) and Panama (X kg) were the main destinations of exports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver from Costa Rica.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of 0.0%).

In value terms, the United States ($X) and Panama ($X) appeared to be the largest markets for non-silver precious metal goldsmiths ware articles exported from Costa Rica worldwide.

The United States, with a CAGR of +66.9%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review.

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, growing by 210% against the previous year. In general, the export price continues to indicate a significant increase. The pace of growth was the most pronounced in 2014 an increase of 33,924% against the previous year. The export price peaked in 2022 and is likely to continue growth in years to come.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per kg), while the average price for exports to Panama amounted to $X per kg.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+66.9%).

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

Imports into Costa Rica

In 2022, approx. X kg of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver were imported into Costa Rica; waning by -10.5% compared with the previous year. Over the period under review, total imports indicated a notable expansion from 2012 to 2022: its volume increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +13.2% against 2020 indices. The pace of growth appeared the most rapid in 2016 when imports increased by 32% against the previous year. Imports peaked at X kg in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver dropped modestly to $X in 2022. Overall, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of 6.8% against the previous year. 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

In 2022, Mexico (X kg) was the main supplier of non-silver precious metal goldsmiths ware articles to Costa Rica, accounting for a 94% share of total imports. It was followed by the United States (X kg), with a 2.7% share of total imports. France (X kg) ranked third in terms of total imports with a 2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Mexico amounted to +4.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-4.0% per year) and France (+4.1% per year).

In value terms, France ($X), Mexico ($X) and the United States ($X) were the largest non-silver precious metal goldsmiths ware articles suppliers to Costa Rica, together accounting for 98% of total imports.

In terms of the main suppliers, France, with a CAGR of +11.8%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average import price for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver amounted to $X per kg, growing by 11% against the previous year. Overall, the import price, however, saw a pronounced decrease. The import price peaked at $X per kg in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+7.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform