Denmark: 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 Denmark

In 2022, the Danish market for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver decreased by -36.3% to $X for the first time since 2015, thus ending a six-year rising trend. Overall, consumption, however, enjoyed a prominent expansion. Consumption of peaked at $X in 2021, and then declined dramatically in the following year.

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

In value terms, production of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver stood at less than $X in 2022 estimated in export price. In general, production saw a relatively flat trend pattern.

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

Exports from Denmark

In 2022, overseas shipments of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver were finally on the rise to reach X tons after six years of decline. In general, exports posted modest growth. The most prominent rate of growth was recorded in 2015 with an increase of 404% against the previous year. As a result, the exports attained the peak of X tons. From 2016 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 skyrocketed to $X in 2022. Overall, exports continue to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2015 with an increase of 990%. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports of failed to regain momentum.

Exports by Country

The United Arab Emirates (X kg) was the main destination for exports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver from Denmark, with a 61% share of total exports. Moreover, exports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver to the United Arab Emirates exceeded the volume sent to the second major destination, Norway (X kg), twofold. The United States (X kg) ranked third in terms of total exports with a 3.5% share.

From 2012 to 2022, the average annual growth rate of volume to the United Arab Emirates was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Norway (+13.1% per year) and the United States (+0.6% per year).

In value terms, the largest markets for non-silver precious metal goldsmiths ware articles exported from Denmark were the United Arab Emirates ($X), Norway ($X) and the United States ($X), with a combined 75% share of total exports. The UK, Switzerland, Hong Kong SAR, Germany and Sweden lagged somewhat behind, together accounting for a further 9.2%.

Switzerland, with a CAGR of +35.4%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

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, reducing by -40% against the previous year. Overall, the export price, however, saw a prominent expansion. The pace of growth was the most pronounced in 2015 when the average export price increased by 116%. Over the period under review, the average export prices hit record highs at $X per kg in 2021, and then fell significantly in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per kg), while the average price for exports to Sweden ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+31.4%), while the prices for the other major destinations experienced more modest paces of growth.

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

Imports into Denmark

In 2022, after three years of growth, there was significant decline in supplies from abroad of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver, when their volume decreased by -64.3% to X kg. Overall, imports, however, saw a noticeable expansion. The growth pace was the most rapid in 2014 with an increase of 309% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports of remained at a lower figure.

In value terms, imports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver shrank dramatically to $X in 2022. In general, imports, however, saw a strong increase. The pace of growth was the most pronounced in 2014 with an increase of 123% against the previous year. Imports peaked at $X in 2021, and then shrank rapidly in the following year.

Imports by Country

Turkey (X kg), Italy (X kg) and the United Arab Emirates (X kg) were the main suppliers of imports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver to Denmark, together comprising 86% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +80.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) constituted the largest supplier of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver to Denmark, comprising 82% of total imports. The second position in the ranking was held by Turkey ($X), with a 15% share of total imports. It was followed by China, with a 0.7% share.

From 2012 to 2022, the average annual growth rate of value from the United Arab Emirates was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+38.7% per year) and China (-9.6% per year).

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, jumping by 89% against the previous year. Overall, the import price continues to indicate strong growth. The growth pace was the most rapid in 2018 when the average import price increased by 109% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is expected to retain growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+64.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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