Europe: 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 Europe

The Europe market for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver skyrocketed to $X in 2022, increasing by 15% against the previous year. The market value increased at an average annual rate of +2.5% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

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

In value terms, production of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver declined to $X in 2022 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of 12%. The level of production peaked at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

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

Exports in Europe

In 2022, the amount of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver exported in Europe contracted sharply to X tons, with a decrease of -40.9% on the previous year. In general, exports showed a pronounced decrease. The growth pace was the most rapid in 2021 with an increase of 81%. The volume of export peaked at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, exports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver declined modestly to $X in 2022. Over the period under review, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 46%. Over the period under review, the exports of reached the peak figure at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Italy (X tons) and the UK (X tons) were the main exporters of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver in Europe, together amounting to approx. 45% of total exports. Spain (X tons) held an 11% share (based on physical terms) of total exports, which put it in second place, followed by Denmark (10%), Switzerland (9.1%) and France (8.1%). The Netherlands (X kg) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Spain (with a CAGR of +13.4%), while the other leaders experienced more modest paces of growth.

In value terms, Italy ($X) remains the largest non-silver precious metal goldsmiths ware articles supplier in Europe, comprising 33% of total exports. The second position in the ranking was held by Switzerland ($X), with a 12% share of total exports. It was followed by the UK, with a 4.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Italy was relatively modest. In the other countries, the average annual rates were as follows: Switzerland (+7.8% per year) and the UK (-10.8% per year).

Export Prices by Country

In 2022, the export price in Europe amounted to $X per kg, increasing by 68% against the previous year. Export price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the export prices reached the maximum at $X per kg in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

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 Italy ($X per kg), while Spain ($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 (+15.1%), while the other leaders experienced mixed trends in the export price figures.

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

Imports in Europe

For the third consecutive year, Europe recorded decline in overseas purchases of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver, which decreased by -3.3% to X tons in 2022. Overall, imports recorded a drastic downturn. The pace of growth was the most pronounced in 2015 with an increase of 78% against the previous year. As a result, imports reached the peak of X tons. From 2016 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver skyrocketed to $X in 2022. Over the period under review, imports saw a slight slump. The most prominent rate of growth was recorded in 2021 when imports increased by 52%. Over the period under review, imports of reached the maximum at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

France was the main importer of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver in Europe, with the volume of imports amounting to X tons, which was approx. 31% of total imports in 2022. Switzerland (X tons) took the second position in the ranking, distantly followed by the UK (X tons), Norway (X tons) and Slovakia (X tons). All these countries together took near 33% share of total imports. The Netherlands (X kg), Poland (X kg), Denmark (X kg), Croatia (X kg), the Czech Republic (X kg), Montenegro (X kg), Italy (X kg) and Sweden (X kg) took a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Montenegro (with a CAGR of +64.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), Croatia ($X) and Italy ($X) were the countries with the highest levels of imports in 2022, together accounting for 52% of total imports.

Among the main importing countries, Croatia, with a CAGR of +76.7%, saw 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

The import price in Europe stood at $X per kg in 2022, picking up by 22% against the previous year. Overall, the import price showed a notable expansion. The most prominent rate of growth was recorded in 2021 when the import price increased by 125%. The level of import peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Croatia ($X per kg), while Montenegro ($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