Indonesia: 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 Indonesia

The Indonesian market for articles of goldsmiths’ wares of base metal clad with precious metal fell modestly to $X in 2022, which is down by -1.7% against the previous year. In general, consumption, however, posted a strong increase. Consumption of peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

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

In value terms, production of articles of goldsmiths’ wares of base metal clad with precious metal fell to $X in 2022 estimated in export price. In general, production, however, enjoyed a prominent expansion. The pace of growth appeared the most rapid in 2014 when the production volume increased by 188%. Over the period under review, production of reached the maximum level at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

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

Exports from Indonesia

In 2022, the amount of articles of goldsmiths’ wares of base metal clad with precious metal exported from Indonesia surged to X kg, rising by 96% on 2021 figures. Overall, exports enjoyed prominent growth. The most prominent rate of growth was recorded in 2020 with an increase of 436% against the previous year. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of articles of goldsmiths’ wares of base metal clad with precious metal soared to $X in 2022. Over the period under review, exports posted a prominent increase. The growth pace was the most rapid in 2013 when exports increased by 666% against the previous year. Over the period under review, the exports of attained the peak figure at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Italy (X kg) was the main destination for exports of articles of goldsmiths’ wares of base metal clad with precious metal from Indonesia, with a 50% share of total exports. Moreover, exports of articles of goldsmiths’ wares of base metal clad with precious metal to Italy exceeded the volume sent to the second major destination, Cyprus (X kg), fivefold. The third position in this ranking was held by the Netherlands (X kg), with a 4.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Italy stood at +41.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cyprus (+14.3% per year) and the Netherlands (+38.0% per year).

In value terms, Malta ($X) remains the key foreign market for articles of goldsmiths’ wares of base metal clad with precious metal exports from Indonesia, comprising 32% of total exports. The second position in the ranking was taken by Italy ($X), with an 8.6% share of total exports. It was followed by the Netherlands, with a 4.8% share.

From 2012 to 2022, the average annual growth rate of value to Malta amounted to +49.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+28.2% per year) and the Netherlands (+47.6% per year).

Export Prices by Country

The average export price for articles of goldsmiths’ wares of base metal clad with precious metal stood at $X per ton in 2022, increasing by 6.1% against the previous year. In general, the export price posted a modest increase. The growth pace was the most rapid in 2013 an increase of 43%. Over the period under review, the average export prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

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 Malta ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+9.4%), while the prices for the other major destinations experienced more modest paces of growth.

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

Imports into Indonesia

In 2022, the amount of articles of goldsmiths’ wares of base metal clad with precious metal imported into Indonesia surged to X kg, with an increase of 20% against the year before. Over the period under review, imports showed significant growth. The pace of growth was the most pronounced in 2013 with an increase of 1,232% against the previous year. Over the period under review, imports of reached the peak figure at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, imports of articles of goldsmiths’ wares of base metal clad with precious metal soared to $X in 2022. Overall, imports continue to indicate a significant expansion. The pace of growth was the most pronounced in 2013 with an increase of 2,598% against the previous year. Over the period under review, imports of attained the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Germany (X kg) constituted the largest precious metal-clad goldsmiths ware articles of base metals supplier to Indonesia, accounting for a 60% share of total imports. Moreover, imports of articles of goldsmiths’ wares of base metal clad with precious metal from Germany exceeded the figures recorded by the second-largest supplier, Singapore (X kg), fivefold. Thailand (X kg) ranked third in terms of total imports with an 8.8% share.

From 2012 to 2022, the average annual growth rate of volume from Germany stood at +40.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+57.0% per year) and Thailand (+42.1% per year).

In value terms, Germany ($X) constituted the largest supplier of articles of goldsmiths’ wares of base metal clad with precious metal to Indonesia, comprising 90% of total imports. The second position in the ranking was taken by Italy ($X), with a 5.7% share of total imports. It was followed by Thailand, with a 1.6% share.

From 2012 to 2022, the average annual growth rate of value from Germany totaled +80.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+95.7% per year) and Thailand (+71.0% per year).

Import Prices by Country

In 2022, the average import price for articles of goldsmiths’ wares of base metal clad with precious metal amounted to $X per kg, jumping by 23% against the previous year. Over the period under review, the import price showed a significant expansion. The pace of growth was the most pronounced in 2014 when the average import price increased by 159%. The import price peaked in 2022 and is expected to retain growth in the near future.

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 Germany ($X per kg), while the price for China ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+27.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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