Greece: Semi-Manufactured Silver Market 2025

Semi-Manufactured Silver Market Size in Greece

The Greek semi-manufactured silver market stood at $X in 2021, rising by 2.5% against the previous year. In general, consumption, however, continues to indicate a prominent increase. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in the near future.

Semi-Manufactured Silver Production in Greece

In value terms, semi-manufactured silver production declined markedly to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a significant increase. The most prominent rate of growth was recorded in 2020 when the production volume increased by 68% against the previous year. As a result, production reached the peak level of $X, and then dropped rapidly in the following year.

Semi-Manufactured Silver Exports

Exports from Greece

In 2021, semi-manufactured silver exports from Greece dropped to X tons, with a decrease of -7.2% against the previous year. In general, exports recorded a perceptible reduction. The most prominent rate of growth was recorded in 2020 with an increase of 520%. Over the period under review, the exports attained the maximum at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, semi-manufactured silver exports rose notably to $X in 2021. Overall, exports, however, saw resilient growth. The growth pace was the most rapid in 2020 when exports increased by 707%. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the near future.

Exports by Country

Turkey (X tons) was the main destination for semi-manufactured silver exports from Greece, accounting for a 90% share of total exports. Moreover, semi-manufactured silver exports to Turkey exceeded the volume sent to the second major destination, Germany (X kg), more than tenfold. Italy (X kg) ranked third in terms of total exports with a 2.6% share.

From 2012 to 2021, the average annual growth rate of volume to Turkey amounted to +12.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-9.0% per year) and Italy (-16.0% per year).

In value terms, Turkey ($X) remains the key foreign market for silver in semi-manufactured forms exports from Greece, comprising 92% of total exports. The second position in the ranking was held by Germany ($X), with a 4.8% share of total exports. It was followed by Italy, with a 1.9% share.

From 2012 to 2021, the average annual growth rate of value to Turkey totaled +16.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-7.5% per year) and Italy (-5.3% per year).

Export Prices by Country

In 2021, the average semi-manufactured silver export price amounted to $X per ton, with an increase of 14% against the previous year. In general, the export price recorded a remarkable increase. The most prominent rate of growth was recorded in 2014 when the average export price increased by 116% against the previous year. The export price peaked in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Bulgaria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Romania (+24.0%), while the prices for the other major destinations experienced more modest paces of growth.

Semi-Manufactured Silver Imports

Imports into Greece

In 2021, purchases abroad of silver in semi-manufactured forms increased by 50% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, imports, however, continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2017 when imports increased by 64%. Over the period under review, imports reached the peak figure at X tons in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, semi-manufactured silver imports declined to $X in 2021. Overall, imports, however, recorded a abrupt shrinkage. The pace of growth was the most pronounced in 2017 with an increase of 36%. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Italy (X tons) constituted the largest supplier of semi-manufactured silver to Greece, accounting for a 77% share of total imports. Moreover, semi-manufactured silver imports from Italy exceeded the figures recorded by the second-largest supplier, Spain (X tons), fivefold. The third position in this ranking was taken by Germany (X tons), with a 4.8% share.

From 2012 to 2021, the average annual growth rate of volume from Italy amounted to -3.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+13.0% per year) and Germany (-2.1% per year).

In value terms, Italy ($X) constituted the largest supplier of silver in semi-manufactured forms to Greece, comprising 70% of total imports. The second position in the ranking was held by Germany ($X), with a 19% share of total imports. It was followed by Spain, with a 9.6% share.

From 2012 to 2021, the average annual growth rate of value from Italy totaled -4.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-0.3% per year) and Spain (+8.2% per year).

Import Prices by Country

In 2021, the average semi-manufactured silver import price amounted to $X per ton, reducing by -40.2% against the previous year. Overall, the import price saw a deep contraction. The pace of growth was the most pronounced in 2015 when the average import price increased by 37%. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+1.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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