Germany: 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 Germany

The German market for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver contracted to $X in 2022, declining by -8.4% against the previous year. In general, the total consumption indicated a mild increase from 2012 to 2022: its value increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Consumption of peaked at $X in 2021, and then fell in the following year.

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

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. Over the period under review, production showed a relatively flat trend pattern.

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

Exports from Germany

In 2022, exports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver from Germany surged to X kg, rising by 72% compared with 2021 figures. Over the period under review, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 98% against the previous year. As a result, the exports reached the peak of X kg. From 2014 to 2022, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver soared to $X in 2022. Overall, exports enjoyed a modest expansion. The growth pace was the most rapid in 2013 when exports increased by 124%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

Austria (X kg), Switzerland (X kg) and the UK (X kg) were the main destinations of exports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver from Germany, with a combined 61% share of total exports. The United States, Luxembourg, Belgium, the Netherlands, Poland and France lagged somewhat behind, together comprising a further 23%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Luxembourg (with a CAGR of +31.1%), while the other leaders experienced more modest paces of growth.

In value terms, the UK ($X), Switzerland ($X) and Austria ($X) constituted the largest markets for non-silver precious metal goldsmiths ware articles exported from Germany worldwide, together comprising 61% of total exports.

The UK, with a CAGR of +27.9%, 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

The average export price for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver stood at $X per kg in 2022, dropping by -5.9% against the previous year. Overall, export price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver decreased by -28.7% against 2018 indices. The most prominent rate of growth was recorded in 2017 an increase of 38%. The export price peaked 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 for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($X per kg), while the average price for exports to Luxembourg ($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 Switzerland (+6.5%), 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 Germany

In 2022, approx. X kg of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver were imported into Germany; rising by 11% compared with 2021 figures. In general, imports enjoyed a moderate expansion. The most prominent rate of growth was recorded in 2021 with an increase of 116% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, imports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver contracted rapidly to $X in 2022. Overall, imports posted a measured increase. The most prominent rate of growth was recorded in 2019 with an increase of 192% against the previous year. Imports peaked at $X in 2021, and then dropped sharply in the following year.

Imports by Country

China (X kg), Turkey (X kg) and Switzerland (X kg) were the main suppliers of imports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver to Germany, together comprising 71% of total imports. India, the United Arab Emirates, the United States, Italy, Bulgaria, Norway, Taiwan (Chinese) and Austria lagged somewhat behind, together accounting for a further 18%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United Arab Emirates (with a CAGR of +379.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Turkey ($X) and India ($X) constituted the largest non-silver precious metal goldsmiths ware articles suppliers to Germany, with a combined 60% share of total imports. Switzerland, Bulgaria, Italy, the United States, Austria, the United Arab Emirates, Norway and Taiwan (Chinese) lagged somewhat behind, together comprising a further 20%.

In terms of the main suppliers, the United Arab Emirates, with a CAGR of +476.6%, recorded the highest growth rate of 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 average import price for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver stood at $X per kg in 2022, waning by -38.2% against the previous year. In general, the import price recorded a mild reduction. The most prominent rate of growth was recorded in 2019 when the average import price increased by 53% against the previous year. As a result, import price reached the peak level of $X per kg. From 2020 to 2022, the average import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+36.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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