EU: 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 the EU

For the sixth consecutive year, the EU market for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver recorded growth in sales value, which increased by 14% to $X in 2022. The total consumption indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +52.7% against 2015 indices. The level of consumption peaked in 2022 and is likely to see gradual growth in the immediate term.

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

In value terms, production of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver fell to $X in 2022 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 13% against the previous year. The level of production peaked at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

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

Exports in the EU

Exports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver shrank dramatically to X tons in 2022, declining by -51.1% against the year before. Overall, exports saw a perceptible decrease. The growth pace was the most rapid in 2021 with an increase of 145%. The volume of export peaked at X tons in 2015; however, from 2016 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 fell modestly to $X in 2022. Over the period under review, exports, however, continue to indicate a modest expansion. The most prominent rate of growth was recorded in 2017 with an increase of 72% against the previous year. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Italy represented the key exporting country with an export of about X tons, which accounted for 34% of total exports. Spain (X tons) took the second position in the ranking, followed by Denmark (X tons) and France (X tons). All these countries together took near 43% share of total exports. The Netherlands (X kg), Germany (X kg), the Czech Republic (X kg), Sweden (X kg), Croatia (X kg), Latvia (X kg) and Portugal (X kg) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to non-silver precious metal goldsmiths ware articles exports from Italy stood at -6.2%. At the same time, Croatia (+47.4%), Latvia (+29.0%), the Czech Republic (+20.0%), Spain (+13.4%), Sweden (+10.4%), the Netherlands (+6.6%), Portugal (+6.2%), France (+5.0%) and Denmark (+1.8%) displayed positive paces of growth. Moreover, Croatia emerged as the fastest-growing exporter exported in the European Union, with a CAGR of +47.4% from 2012-2022. Germany experienced a relatively flat trend pattern. While the share of Spain (+13 p.p.), France (+6.7 p.p.), Denmark (+6.2 p.p.), the Netherlands (+2.8 p.p.), the Czech Republic (+2.5 p.p.), Sweden (+1.9 p.p.), Croatia (+1.8 p.p.) and Latvia (+1.6 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Italy (-10.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Italy ($X) remains the largest non-silver precious metal goldsmiths ware articles supplier in the European Union, comprising 39% of total exports. The second position in the ranking was held by the Czech Republic ($X), with a 14% share of total exports. It was followed by Germany, with a 12% share.

In Italy, exports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver remained relatively stable over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: the Czech Republic (+40.9% per year) and Germany (+1.6% per year).

Export Prices by Country

In 2022, the export price in the European Union amounted to $X per kg, picking up by 102% against the previous year. Overall, the export price saw a strong increase. The level of export peaked at $X per kg in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Croatia ($X per kg), while Latvia ($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 Czech Republic (+17.4%), while the other leaders experienced more modest paces of growth.

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

Imports in the EU

Imports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver dropped rapidly to X tons in 2022, shrinking by -22% on the previous year's figure. In general, imports showed a noticeable reduction. The most prominent rate of growth was recorded in 2015 when imports increased by 123% against the previous year. As a result, imports attained the peak of X tons. From 2016 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 surged to $X in 2022. Total imports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.8% 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 +121.4% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 88%. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

France was the major importer of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver in the European Union, with the volume of imports reaching X tons, which was approx. 45% of total imports in 2022. Slovakia (X tons) took the second position in the ranking, followed by the Netherlands (X kg) and Poland (X kg). All these countries together took near 18% share of total imports. Denmark (X kg), Croatia (X kg), the Czech Republic (X kg), Italy (X kg), Cyprus (X kg), Sweden (X kg), Germany (X kg), Spain (X kg) and Ireland (X kg) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to non-silver precious metal goldsmiths ware articles imports into France stood at -8.0%. At the same time, Croatia (+58.9%), Poland (+33.7%), Slovakia (+31.4%), Cyprus (+20.6%), the Czech Republic (+12.5%), Denmark (+4.9%), Germany (+3.8%), the Netherlands (+2.0%) and Sweden (+1.6%) displayed positive paces of growth. Moreover, Croatia emerged as the fastest-growing importer imported in the European Union, with a CAGR of +58.9% from 2012-2022. By contrast, Italy (-3.4%), Ireland (-8.0%) and Spain (-13.8%) illustrated a downward trend over the same period. Slovakia (+6.5 p.p.), Poland (+5 p.p.), Croatia (+4.2 p.p.), the Czech Republic (+3.4 p.p.), the Netherlands (+2.9 p.p.), Cyprus (+2.9 p.p.), Denmark (+2.6 p.p.) and Germany (+1.6 p.p.) significantly strengthened its position in terms of the total imports, while Spain and France saw its share reduced by -5.2% and -21% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Poland ($X), Croatia ($X) and Italy ($X) constituted the countries with the highest levels of imports in 2022, together accounting for 59% of total imports.

Among the main importing countries, Croatia, with a CAGR of +76.7%, 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 more modest paces of growth.

Import Prices by Country

In 2022, the import price in the European Union amounted to $X per kg, with an increase of 51% against the previous year. Overall, the import price continues to indicate a buoyant increase. The growth pace was the most rapid in 2021 an increase of 188%. Over the period under review, import prices hit record highs in 2022 and is likely to see gradual growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Denmark (+14.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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