Italy: Market for Articles of Goldsmiths’ or Silversmiths’ Wares of Precious Metals other than Silver 2024

Market Size for Articles of Goldsmiths’ or Silversmiths’ Wares of Precious Metals other than Silver in Italy

The Italian market for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver soared to $X in 2022, jumping by 16% against the previous year. Over the period under review, consumption showed a resilient expansion. Over the period under review, the market hit record highs in 2022 and is likely to continue growth in the immediate term.

Production of Articles of Goldsmiths’ or Silversmiths’ Wares of Precious Metals other than Silver in Italy

In value terms, production of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver amounted to less than $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern.

Exports of Articles of Goldsmiths’ or Silversmiths’ Wares of Precious Metals other than Silver

Exports from Italy

In 2022, the amount of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver exported from Italy contracted to X tons, reducing by -7% on the previous year's figure. In general, exports saw a abrupt contraction. The pace of growth was the most pronounced in 2021 when exports increased by 17% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, exports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver rose to $X in 2022. Overall, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by 29% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the near future.

Exports by Country

The United States (X kg), Belgium (X kg) and Germany (X kg) were the main destinations of exports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver from Italy, with a combined 43% share of total exports. The Netherlands, France, Spain, Poland, Switzerland and the UK lagged somewhat behind, together accounting for a further 38%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Poland (with a CAGR of +8.7%), while the other leaders experienced more modest paces of growth.

In value terms, France ($X), Germany ($X) and Belgium ($X) appeared to be the largest markets for non-silver precious metal goldsmiths ware articles exported from Italy worldwide, together accounting for 51% of total exports. Poland, Spain, the Netherlands, Switzerland, the United States and the UK lagged somewhat behind, together comprising a further 33%.

The Netherlands, with a CAGR of +17.5%, recorded 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 export price for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver stood at $X per kg in 2022, picking up by 12% against the previous year. Over the period under review, export price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of +7.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver increased by +119.1% against 2015 indices. The growth pace was the most rapid in 2013 an increase of 34% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per kg), while the average price for exports to the United States ($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 Spain (+16.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Articles of Goldsmiths’ or Silversmiths’ Wares of Precious Metals other than Silver

Imports into Italy

In 2022, imports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver into Italy skyrocketed to X kg, increasing by 33% on the previous year's figure. In general, imports, however, saw a noticeable downturn. The most prominent rate of growth was recorded in 2015 when imports increased by 100% against the previous year. As a result, imports reached the peak of X tons. From 2016 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver surged to $X in 2022. Over the period under review, imports, however, showed a pronounced descent. Over the period under review, imports of reached the peak figure at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

Germany (X kg), France (X kg) and Thailand (X kg) were the main suppliers of imports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver to Italy, with a combined 61% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +71.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver to Italy, comprising 63% of total imports. The second position in the ranking was taken by Belgium ($X), with an 18% share of total imports. It was followed by France, with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany stood at +27.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (-10.3% per year) and France (-9.7% per year).

Import Prices by Country

The average import price for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver stood at $X per kg in 2022, picking up by 83% against the previous year. Over the period under review, the import price, however, continues to indicate a mild descent. The import price peaked at $X per kg in 2014; however, from 2015 to 2022, import prices stood at a somewhat 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 Germany ($X per kg), while the price for Thailand ($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 (+11.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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