Ireland: Unwrought Silver Market 2025

Unwrought Silver Market Size in Ireland

In 2021, the Irish unwrought silver market decreased by -19.6% to $X for the first time since 2018, thus ending a two-year rising trend. In general, consumption continues to indicate a noticeable setback. Unwrought silver consumption peaked at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Unwrought Silver Production in Ireland

In value terms, unwrought silver production reduced rapidly to $X in 2021 estimated in export price. Over the period under review, production recorded a deep downturn. The most prominent rate of growth was recorded in 2020 when the production volume increased by 108%. Unwrought silver production peaked at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Unwrought Silver Exports

Exports from Ireland

In 2021, exports of silver, unwrought or in powder form from Ireland totaled X kg, therefore, remained relatively stable against the previous year. Overall, exports faced a abrupt descent. The most prominent rate of growth was recorded in 2016 with an increase of 15%. As a result, the exports reached the peak of X kg. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, unwrought silver exports amounted to $X in 2021. Over the period under review, exports recorded a precipitous contraction. The most prominent rate of growth was recorded in 2016 with an increase of 62% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

The UK (X kg) was the main destination for unwrought silver exports from Ireland, with a 55% share of total exports. Moreover, unwrought silver exports to the UK exceeded the volume sent to the second major destination, the United States (X kg), threefold. The third position in this ranking was taken by China (X kg), with a 20% share.

From 2012 to 2021, the average annual growth rate of volume to the UK totaled +6.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+3.8% per year) and China (+26.4% per year).

It was followed by the United States, with a 14% share.

From 2012 to 2021, the average annual growth rate of value to the UK stood at -6.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+37.3% per year) and the United States (-6.3% per year).

Export Prices by Country

The average unwrought silver export price stood at $X per ton in 2021, therefore, remained relatively stable against the previous year. Overall, the export price showed a abrupt decline. The pace of growth appeared the most rapid in 2016 when the average export price increased by 42%. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to the United States ($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 Germany (+10.0%), while the prices for the other major destinations experienced a decline.

Unwrought Silver Imports

Imports into Ireland

In 2021, supplies from abroad of silver, unwrought or in powder form decreased by -36.9% to X kg for the first time since 2018, thus ending a two-year rising trend. Overall, imports saw a noticeable contraction. The growth pace was the most rapid in 2019 when imports increased by 64%. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, unwrought silver imports shrank remarkably to $X in 2021. Over the period under review, imports showed a abrupt slump. The most prominent rate of growth was recorded in 2019 with an increase of 45%. Imports peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

Germany (X kg), the United States (X kg) and the UK (X kg) were the main suppliers of unwrought silver imports to Ireland, together comprising 89% of total imports. These countries were followed by China, Switzerland, Japan and Turkey, which together accounted for a further 9.2%.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +43.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of silver, unwrought or in powder form to Ireland, comprising 50% of total imports. The second position in the ranking was taken by the United States ($X), with a 21% share of total imports. It was followed by the UK, with a 16% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany amounted to +8.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+7.1% per year) and the UK (-6.2% per year).

Import Prices by Country

In 2021, the average unwrought silver import price amounted to $X per ton, declining by -7.9% against the previous year. Over the period under review, the import price showed a pronounced shrinkage. The growth pace was the most rapid in 2018 when the average import price increased by 37%. The import price peaked at $X per ton in 2013; however, from 2014 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 Switzerland ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+6.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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