Czech Republic: Silver Market 2024

Silver Market Size in the Czech Republic

The Czech silver market surged to $X in 2021, with an increase of 20% against the previous year. Over the period under review, consumption recorded strong growth. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market failed to regain momentum.

Silver Production in the Czech Republic

In value terms, silver production rose modestly to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a abrupt downturn. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Silver Exports

Exports from the Czech Republic

In 2021, shipments abroad of silver including silver plated with gold or platinum was finally on the rise to reach X tons after two years of decline. Over the period under review, exports, however, recorded a abrupt slump. The pace of growth appeared the most rapid in 2013 with an increase of 73%. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, silver exports soared to $X in 2021. In general, exports, however, continue to indicate a deep downturn. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

France (X tons) was the main destination for silver exports from the Czech Republic, accounting for a 56% share of total exports. Moreover, silver exports to France exceeded the volume sent to the second major destination, Germany (X tons), fourfold. The third position in this ranking was taken by Italy (X tons), with a 6.1% share.

From 2012 to 2021, the average annual growth rate of volume to France totaled +10.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-25.5% per year) and Italy (+4.5% per year).

In value terms, France ($X) remains the key foreign market for silver including silver plated with gold or platinum exports from the Czech Republic, comprising 62% of total exports. The second position in the ranking was held by Germany ($X), with a 9.7% share of total exports. It was followed by Slovakia, with a 6.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to France stood at +7.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-27.3% per year) and Slovakia (-24.1% per year).

Export Prices by Country

The average silver export price stood at $X per ton in 2021, increasing by 9.8% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the average export price increased by 112%. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Switzerland ($X per ton), while the average price for exports to Bulgaria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Slovakia (+4.7%), while the prices for the other major destinations experienced a decline.

Silver Imports

Imports into the Czech Republic

In 2021, approx. X tons of silver including silver plated with gold or platinum were imported into the Czech Republic; picking up by 18% against 2020 figures. In general, imports posted a strong increase. The pace of growth appeared the most rapid in 2013 when imports increased by 645% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports failed to regain momentum.

In value terms, silver imports surged to $X in 2021. Over the period under review, imports recorded prominent growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Japan (X tons) constituted the largest silver supplier to the Czech Republic, with a 66% share of total imports. Moreover, silver imports from Japan exceeded the figures recorded by the second-largest supplier, Germany (X tons), fivefold. Switzerland (X tons) ranked third in terms of total imports with a 6.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Japan totaled +86.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-0.9% per year) and Switzerland (+32.5% per year).

In value terms, Germany ($X), Switzerland ($X) and Japan ($X) appeared to be the largest silver suppliers to the Czech Republic, with a combined 73% share of total imports.

Japan, with a CAGR of +82.5%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average silver import price amounted to $X per ton, with an increase of 30% against the previous year. In general, the import price, however, recorded a abrupt decrease. The most prominent rate of growth was recorded in 2014 an increase of 503%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, 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 Switzerland ($X per ton), while the price for Japan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+14.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :