Finland: Silver Ore Market 2025

Silver Ore Market Size in Finland

The Finnish silver ore market soared to $X in 2021, growing by 1,312% against the previous year. In general, consumption, however, continues to indicate a deep contraction. Silver ore consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Silver Ore Production in Finland

In value terms, silver ore production contracted to $X in 2021 estimated in export price. Over the period under review, production recorded a abrupt slump. The most prominent rate of growth was recorded in 2018 when the production volume increased by 7.1%. Silver ore production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Silver Ore Exports

Exports from Finland

In 2021, silver ore exports from Finland dropped rapidly to X tons, waning by -55.5% against the previous year. In general, exports, however, enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 387,064% against the previous year. As a result, the exports reached the peak of X tons, and then dropped significantly in the following year.

In value terms, silver ore exports dropped markedly to $X in 2021. Overall, exports, however, enjoyed significant growth. The pace of growth was the most pronounced in 2019 with an increase of 300% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Sweden (X tons) was the main destination for silver ore exports from Finland, accounting for a 96% share of total exports. Moreover, silver ore exports to Sweden exceeded the volume sent to the second major destination, Belgium (X tons), more than tenfold.

From 2014 to 2021, the average annual rate of growth in terms of volume to Sweden stood at +62.3%.

In value terms, Sweden ($X) remains the key foreign market for silver ore exports from Finland, comprising 96% of total exports. The second position in the ranking was held by Belgium ($X), with a 4.2% share of total exports.

From 2014 to 2021, the average annual growth rate of value to Sweden totaled +107.7%.

Export Prices by Country

The average silver ore export price stood at $X per kg in 2021, surging by 42% against the previous year. Over the period under review, the export price continues to indicate a resilient increase. The growth pace was the most rapid in 2019 when the average export price increased by 563,529%. As a result, the export price attained the peak level of $X per kg. From 2020 to 2021, the average export prices failed to regain momentum.

Average prices varied noticeably for the major foreign markets. In 2021, the country with the highest price was Sweden ($X per kg), while the average price for exports to Belgium amounted to $X per kg.

From 2014 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+32.6%).

Silver Ore Imports

Imports into Finland

In 2021, purchases abroad of silver ores and concentrates increased by 102% to X tons, rising for the third consecutive year after two years of decline. Overall, imports enjoyed significant growth. The pace of growth appeared the most rapid in 2019 when imports increased by 913% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are likely to see steady growth in years to come.

In value terms, silver ore imports soared to $X in 2021. In general, imports recorded a significant expansion. The pace of growth appeared the most rapid in 2013 with an increase of 293% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, Morocco (X tons) constituted the largest silver ore supplier to Finland, with a 75% share of total imports. Moreover, silver ore imports from Morocco exceeded the figures recorded by the second-largest supplier, Mexico (X tons), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Morocco amounted to +496.9%.

In value terms, the largest silver ore suppliers to Finland were Mexico ($X) and Morocco ($X).

Morocco, with a CAGR of +434.4%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review.

Import Prices by Country

In 2021, the average silver ore import price amounted to $X per ton, shrinking by -42.8% against the previous year. Overall, the import price showed a dramatic decrease. The pace of growth was the most pronounced in 2014 when the average import price decreased by -3.7% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Mexico ($X per ton), while the price for Morocco totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+12.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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