Greece: Silver Nitrate Market 2024

Silver Nitrate Market Size in Greece

The Greek silver nitrate market surged to $X in 2021, rising by 20% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, recorded a prominent expansion. Over the period under review, the market reached the peak level in 2021 and is expected to retain growth in years to come.

Silver Nitrate Exports

Exports from Greece

Silver nitrate exports from Greece shrank sharply to X kg in 2020, waning by -42.2% on the year before. Overall, exports, however, posted significant growth. The most prominent rate of growth was recorded in 2014 when exports increased by 1,386%. Over the period under review, the exports attained the maximum at X kg in 2016; however, from 2017 to 2020, the exports remained at a lower figure.

In value terms, silver nitrate exports fell sharply to $X in 2020. Over the period under review, exports, however, posted strong growth. The pace of growth was the most pronounced in 2018 when exports increased by 856%. Over the period under review, the exports attained the peak figure at $X in 2016; however, from 2017 to 2020, the exports failed to regain momentum.

Exports by Country

Slovenia (X kg) was the main destination for silver nitrate exports from Greece, with a 83% share of total exports. Moreover, silver nitrate exports to Slovenia exceeded the volume sent to the second major destination, Cyprus (X kg), eightfold.

From 2013 to 2020, the average annual rate of growth in terms of volume to Slovenia totaled +111.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cyprus (-4.7% per year) and Romania (0.0% per year).

In value terms, Slovenia ($X) remains the key foreign market for silver nitrate exports from Greece, comprising 93% of total exports. The second position in the ranking was taken by Cyprus ($X), with a 4.5% share of total exports.

From 2013 to 2020, the average annual rate of growth in terms of value to Slovenia totaled +169.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cyprus (-24.9% per year) and Romania (0.0% per year).

Export Prices by Country

The average silver nitrate export price stood at $X per ton in 2020, with a decrease of -22.7% against the previous year. Over the period under review, the export price recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2019 an increase of 48%. The export price peaked at $X per ton in 2013; however, from 2014 to 2020, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2020, amid the top suppliers, the country with the highest price was Slovenia ($X per ton), while the average price for exports to Romania ($X per ton) was amongst the lowest.

From 2013 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Albania (+33.7%), while the prices for the other major destinations experienced mixed trend patterns.

Silver Nitrate Imports

Imports into Greece

In 2021, imports of silver nitrate into Greece declined to X tons, dropping by -11.5% on the previous year. Overall, imports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2020 when imports increased by 200% against the previous year. As a result, imports attained the peak of X tons, and then declined in the following year.

In value terms, silver nitrate imports soared to $X in 2021. In general, imports, however, showed a prominent increase. The most prominent rate of growth was recorded in 2014 with an increase of 124% against the previous year. Imports peaked in 2021 and are likely to continue growth in the near future.

Imports by Country

In 2021, Belgium (X tons) constituted the largest silver nitrate supplier to Greece, with a 77% share of total imports. Moreover, silver nitrate imports from Belgium exceeded the figures recorded by the second-largest supplier, Austria (X kg), fivefold. The third position in this ranking was taken by Germany (X kg), with a 3.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Belgium stood at +63.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+6.8% per year) and Germany (-6.0% per year).

In value terms, Spain ($X) constituted the largest supplier of silver nitrate to Greece, comprising 47% of total imports. The second position in the ranking was held by Belgium ($X), with a 19% share of total imports. It was followed by Austria, with an 18% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Spain totaled +140.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+49.4% per year) and Austria (+8.4% per year).

Import Prices by Country

The average silver nitrate import price stood at $X per ton in 2021, rising by 115% against the previous year. Overall, the import price, however, showed a abrupt curtailment. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, 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 Spain ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+41.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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