Indonesia: Semi-Manufactured Silver Market 2025

Semi-Manufactured Silver Market Size in Indonesia

The Indonesian semi-manufactured silver market was finally on the rise to reach $X in 2021, after two years of decline. In general, consumption, however, saw prominent growth. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Semi-Manufactured Silver Production in Indonesia

In value terms, semi-manufactured silver production expanded modestly to $X in 2021 estimated in export price. Overall, production, however, posted a prominent increase. The pace of growth was the most pronounced in 2014 when the production volume increased by 1,103%. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Semi-Manufactured Silver Exports

Exports from Indonesia

In 2021, the amount of silver in semi-manufactured forms exported from Indonesia surged to X tons, rising by 267% compared with the year before. Over the period under review, exports continue to indicate a relatively flat trend pattern. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, semi-manufactured silver exports skyrocketed to $X in 2021. In general, exports, however, continue to indicate a pronounced shrinkage. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Switzerland (X tons), India (X tons) and Malaysia (X tons) were the main destinations of semi-manufactured silver exports from Indonesia, together accounting for 71% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Switzerland (with a CAGR of +71.7%), while the other leaders experienced more modest paces of growth.

In value terms, India ($X), Switzerland ($X) and Nepal ($X) were the largest markets for semi-manufactured silver exported from Indonesia worldwide, with a combined 76% share of total exports.

Switzerland, with a CAGR of +89.1%, saw 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 semi-manufactured silver export price stood at $X per ton in 2021, picking up by 45% against the previous year. In general, the export price, however, showed a noticeable downturn. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Nepal ($X per ton), while the average price for exports to Singapore ($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 Japan (+16.3%), while the prices for the other major destinations experienced mixed trend patterns.

Semi-Manufactured Silver Imports

Imports into Indonesia

Semi-manufactured silver imports into Indonesia skyrocketed to X tons in 2021, increasing by 18% compared with the year before. Over the period under review, imports continue to indicate a buoyant expansion. The growth pace was the most rapid in 2018 when imports increased by 343%. Over the period under review, imports reached the maximum in 2021 and are likely to see gradual growth in the near future.

In value terms, semi-manufactured silver imports soared to $X in 2021. Overall, imports saw a prominent expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Singapore (X tons) constituted the largest supplier of semi-manufactured silver to Indonesia, accounting for a 61% share of total imports. Moreover, semi-manufactured silver imports from Singapore exceeded the figures recorded by the second-largest supplier, Japan (X tons), fourfold. South Korea (X tons) ranked third in terms of total imports with a 6.5% share.

From 2012 to 2021, the average annual growth rate of volume from Singapore amounted to +7.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+22.8% per year) and South Korea (+22.9% per year).

In value terms, the largest semi-manufactured silver suppliers to Indonesia were Japan ($X), Singapore ($X) and Taiwan (Chinese) ($X), with a combined 83% share of total imports.

Among the main suppliers, Taiwan (Chinese), with a CAGR of +37.7%, recorded the highest rates of growth with regard to 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 semi-manufactured silver import price stood at $X per ton in 2021, surging by 53% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of 68%. Over the period under review, average import prices attained the peak figure at $X per ton in 2017; however, from 2018 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+6.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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