India: Market for Articles of Goldsmiths’ Wares of Base Metal Clad with Precious Metal 2024

Market Size for Articles of Goldsmiths’ Wares of Base Metal Clad with Precious Metal in India

In 2022, after six years of growth, there was decline in the Indian market for articles of goldsmiths’ wares of base metal clad with precious metal, when its value decreased by less than 0.1% to $X. Over the period under review, the total consumption indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +89.8% against 2013 indices. Consumption of peaked at $X in 2021, and then contracted modestly in the following year.

Production of Articles of Goldsmiths’ Wares of Base Metal Clad with Precious Metal in India

In value terms, production of articles of goldsmiths’ wares of base metal clad with precious metal reached $X in 2022 estimated in export price. Over the period under review, the total production indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -0.2% against 2020 indices. The growth pace was the most rapid in 2016 when the production volume increased by 21%. Production of peaked at $X in 2020; afterwards, it flattened through to 2022.

Exports of Articles of Goldsmiths’ Wares of Base Metal Clad with Precious Metal

Exports from India

In 2022, exports of articles of goldsmiths’ wares of base metal clad with precious metal from India surged to X tons, increasing by 143% on the previous year. In general, exports showed a significant expansion. The pace of growth appeared the most rapid in 2013 with an increase of 1,277% against the previous year. Over the period under review, the exports of reached the peak figure in 2022 and are likely to continue growth in the immediate term.

In value terms, exports of articles of goldsmiths’ wares of base metal clad with precious metal contracted notably to $X in 2022. Overall, exports posted a significant expansion. The growth pace was the most rapid in 2016 when exports increased by 384%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Morocco (X tons), the United States (X tons) and Egypt (X kg) were the main destinations of exports of articles of goldsmiths’ wares of base metal clad with precious metal from India, together accounting for 94% of total exports.

From 2012 to 2022, the biggest increases were recorded for Egypt (with a CAGR of +135.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) emerged as the key foreign market for articles of goldsmiths’ wares of base metal clad with precious metal exports from India, comprising 61% of total exports. The second position in the ranking was held by Morocco ($X), with a 23% share of total exports. It was followed by Egypt, with a 1.4% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +111.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Morocco (0.0% per year) and Egypt (+57.9% per year).

Export Prices by Country

In 2022, the average export price for articles of goldsmiths’ wares of base metal clad with precious metal amounted to $X per kg, declining by -69.1% against the previous year. In general, the export price saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 an increase of 554%. The export price peaked at $X per kg in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per kg), while the average price for exports to Gabon ($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 Yemen (+125.7%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Articles of Goldsmiths’ Wares of Base Metal Clad with Precious Metal

Imports into India

For the fourth year in a row, India recorded growth in overseas purchases of articles of goldsmiths’ wares of base metal clad with precious metal, which increased by 6.9% to X tons in 2022. Over the period under review, imports recorded a significant expansion. The pace of growth was the most pronounced in 2013 with an increase of 456%. Over the period under review, imports of reached the peak figure in 2022 and are likely to see steady growth in the immediate term.

In value terms, imports of articles of goldsmiths’ wares of base metal clad with precious metal reached $X in 2022. In general, imports, however, recorded a deep contraction. The pace of growth appeared the most rapid in 2021 with an increase of 156% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Hong Kong SAR (X tons), China (X tons) and the UK (X kg) were the main suppliers of imports of articles of goldsmiths’ wares of base metal clad with precious metal to India, together comprising 98% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Hong Kong SAR (with a CAGR of +157.1%), while imports for the other leaders experienced mixed trend patterns.

In value terms, China ($X) constituted the largest supplier of articles of goldsmiths’ wares of base metal clad with precious metal to India, comprising 68% of total imports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 30% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+70.5% per year) and the UK (-33.2% per year).

Import Prices by Country

The average import price for articles of goldsmiths’ wares of base metal clad with precious metal stood at $X per kg in 2022, with a decrease of -5.8% against the previous year. Overall, the import price saw a precipitous slump. The pace of growth was the most pronounced in 2016 when the average import price increased by 277% against the previous year. The import price peaked at $X per kg in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per kg), while the price for Hong Kong SAR ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (-21.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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