Ethiopia: 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 Ethiopia

The Ethiopian market for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver soared to $X in 2022, jumping by 18% against the previous year. Over the period under review, consumption showed a prominent expansion. Consumption of peaked in 2022 and is expected to retain growth in the near future.

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

In value terms, production of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver rose significantly to $X in 2022 estimated in export price. Overall, production continues to indicate significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 682% against the previous year. Over the period under review, production of hit record highs in 2022 and is expected to retain growth in years to come.

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

Exports from Ethiopia

In 2022, the amount of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver exported from Ethiopia stood at X kg, stabilizing at 2021. Overall, exports showed a significant expansion. The pace of growth appeared the most rapid in 2017 with an increase of 880%. Over the period under review, the exports of reached the peak figure at X kg in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver expanded modestly to $X in 2022. Over the period under review, exports posted a significant expansion. The pace of growth appeared the most rapid in 2013 when exports increased by 746% against the previous year. Over the period under review, the exports of attained the peak figure at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X kg) was the main destination for exports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver from Ethiopia, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at +52.7%.

In value terms, the United States ($X) also remains the key foreign market for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver exports from Ethiopia.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to +121.7%.

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, picking up by 3% against the previous year. In general, the export price saw a significant expansion. The growth pace was the most rapid in 2013 when the average export price increased by 1,593%. The export price peaked at $X per kg in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to +45.2% per year.

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

Imports into Ethiopia

Imports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver into Ethiopia totaled X kg in 2022, approximately mirroring 2021. Overall, imports saw a slight shrinkage. The pace of growth appeared the most rapid in 2016 with an increase of 57% against the previous year. As a result, imports reached the peak of X kg. From 2017 to 2022, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver reached $X in 2022. Over the period under review, imports saw a deep setback. The most prominent rate of growth was recorded in 2016 with an increase of 145%. As a result, imports reached the peak of $X. From 2017 to 2022, the growth of imports of remained at a lower figure.

Imports by Country

China (X kg), India (X kg) and South Africa (X kg) were the main suppliers of imports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver to Ethiopia, together accounting for 57% of total imports. Moreover, imports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver in China exceeded the figures recorded by the second-largest supplier, India, twofold.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +7.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver to Ethiopia, comprising 90% of total imports. The second position in the ranking was taken by Italy ($X), with a 6.8% share of total imports. It was followed by Saudi Arabia, with a 2.3% share.

From 2012 to 2022, the average annual growth rate of value from China stood at -10.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-19.2% per year) and Saudi Arabia (+11.2% per year).

Import Prices by Country

The average import price for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver stood at $X per ton in 2022, increasing by 2.5% against the previous year. Overall, the import price, however, continues to indicate a abrupt contraction. The growth pace was the most rapid in 2016 an increase of 56%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+11.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform