Cyprus: Silver Market 2020

Silver Market Size in Cyprus

The revenue of the silver market in Cyprus amounted to $X in 2018, going up by X% against the previous year. In general, silver consumption continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2011 with an increase of X% y-o-y. Cyprus silver consumption peaked at $X in 2012; however, from 2013 to 2018, consumption stood at a somewhat lower figure.

Silver Production in Cyprus

In value terms, silver production amounted to $X in 2018 estimated in export prices. Overall, the total output indicated a measured expansion from 2007 to 2018: its value increased at an average annual rate of +X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when production volume increased by X% y-o-y. In that year, silver production reached its peak level of $X. From 2015 to 2018, silver production growth remained at a lower figure.

Silver Exports

Exports from Cyprus

In 2018, approx. X kg of silver including silver plated with gold or platinum were exported from Cyprus; going down by -X% against the previous year. Overall, silver exports, however, continue to indicate temperate growth. The most prominent rate of growth was recorded in 2016 with an increase of X% y-o-y. In that year, silver exports reached their peak of X kg. From 2017 to 2018, the growth of silver exports remained at a lower figure.

In value terms, silver exports amounted to $X in 2018. In general, silver exports, however, continue to indicate temperate growth. The most prominent rate of growth was recorded in 2016 when exports increased by X% year-to-year. In that year, silver exports reached their peak of $X. From 2017 to 2018, the growth of silver exports remained at a lower figure.

Exports by Country

In 2018, China, Hong Kong SAR (X tons) and Japan (X tons) represented the major exporters of silver including silver plated with gold or platinumaround the world, together achieving X% of total exports. It was followed by Mexico (X tons), South Korea (X tons), Germany (X tons), the UK (X tons), China (X tons) and the U.S. (X tons), together creating a X% share of total exports. Canada (X tons), Switzerland (X tons), Italy (X tons) and Poland (X tons) held a minor share of total exports.

From 2007 to 2018, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by China, Hong Kong SAR, while the other leaders experienced more modest paces of growth.

In value terms, China, Hong Kong SAR ($X), Mexico ($X) and Japan ($X) were the countries with the highest levels of exports in 2018, together comprising X% of total exports.

China, Hong Kong SAR experienced the highest growth rate of exports, in terms of the main exporting countries over the last eleven-year period, while the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2018, the silver export price in Cyprus amounted to $X per ton, lowering by -X% against the previous year. Overall, the silver export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 an increase of X% year-to-year. Cyprus export price peaked at $X per ton in 2017, and then declined slightly in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2018, the country with the highest price was China, Hong Kong SAR ($X per ton), while Japan ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by the U.S., while the other leaders experienced more modest paces of growth.

Silver Imports

Imports into Cyprus

In 2018, the silver imports into Cyprus totaled X kg, reducing by -X% against the previous year. In general, silver imports continue to indicate a deep decrease. The pace of growth was the most pronounced in 2011 with an increase of X% against the previous year. Over the period under review, silver imports reached their maximum at X tons in 2007; however, from 2008 to 2018, imports stood at a somewhat lower figure.

In value terms, silver imports totaled $X in 2018. In general, silver imports continue to indicate an abrupt contraction. The most prominent rate of growth was recorded in 2016 when imports increased by X% year-to-year. Over the period under review, silver imports attained their peak figure at $X in 2007; however, from 2008 to 2018, imports remained at a lower figure.

Imports by Country

In 2018, India (X tons), the U.S. (X tons) and the UK (X tons) were the main importers of silver including silver plated with gold or platinum in the world, constituting X% of total import. China (X tons) ranks next in terms of the total imports with a X% share, followed by China, Hong Kong SAR (X%) and Japan (X%). The following importers - Germany (X tons), Thailand (X tons), Taiwan, Chinese (X tons), Singapore (X tons), South Korea (X tons) and Mexico (X tons) - together made up X% of total imports.

From 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by India, while the other leaders experienced more modest paces of growth.

In value terms, the largest silver importing markets into Cyprus were India ($X), the U.S. ($X) and the UK ($X), with a combined X% share of total imports. Japan, China, China, Hong Kong SAR, Germany, Taiwan, Chinese, Thailand, Singapore, South Korea, Mexico and Cyprus lagged somewhat behind, together accounting for a further X the main importing countries, Singapore experienced the highest growth rate of imports, over the last eleven years, while the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2018, the silver import price in Cyprus amounted to $X per ton, coming down by -X% against the previous year. In general, the import price indicated temperate growth from 2007 to 2018: its price increased at an average annual rate of +X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, silver import price increased by +X% against 2016 indices. The pace of growth appeared the most rapid in 2012 an increase of X% against the previous year. In that year, the import prices for silver including silver plated with gold or platinum reached their peak level of $X per ton. From 2013 to 2018, the growth in terms of the import prices for silver including silver plated with gold or platinum remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2018, the country with the highest price was Japan ($X per ton), while Mexico ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by China, while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform