Italy: Silver Market 2024

Silver Market Size in Italy

The Italian silver market soared to $X in 2021, increasing by 119% against the previous year. In general, consumption showed a prominent expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Silver Production in Italy

In value terms, silver production surged to $X in 2021 estimated in export price. In general, production continues to indicate a resilient increase. The pace of growth was the most pronounced in 2020 with an increase of 110% against the previous year. Over the period under review, production reached the peak level in 2021 and is expected to retain growth in years to come.

Silver Exports

Exports from Italy

In 2021, overseas shipments of silver including silver plated with gold or platinum increased by 18% to X tons, rising for the second consecutive year after three years of decline. The total export volume increased at an average annual rate of +1.3% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The growth pace was the most rapid in 2014 when exports increased by 19% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports failed to regain momentum.

In value terms, silver exports soared to $X in 2021. In general, exports, however, saw a slight shrinkage. The growth pace was the most rapid in 2020 when exports increased by 45% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Spain (X tons) was the main destination for silver exports from Italy, with a 24% share of total exports. Moreover, silver exports to Spain exceeded the volume sent to the second major destination, France (X tons), twofold. Germany (X tons) ranked third in terms of total exports with an 8.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Spain totaled +12.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-1.0% per year) and Germany (-4.6% per year).

In value terms, Spain ($X) remains the key foreign market for silver including silver plated with gold or platinum exports from Italy, comprising 29% of total exports. The second position in the ranking was held by France ($X), with a 10% share of total exports. It was followed by Switzerland, with a 9.3% share.

From 2012 to 2021, the average annual growth rate of value to Spain amounted to +17.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-1.1% per year) and Switzerland (-13.9% per year).

Export Prices by Country

The average silver export price stood at $X per ton in 2021, growing by 16% against the previous year. Over the period under review, the export price, however, showed a perceptible reduction. The pace of growth was the most pronounced in 2020 when the average export price increased by 40%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Switzerland ($X per ton), while the average price for exports to Russia ($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 Bulgaria (+6.2%), while the prices for the other major destinations experienced more modest paces of growth.

Silver Imports

Imports into Italy

After two years of decline, overseas purchases of silver including silver plated with gold or platinum increased by 29% to X tons in 2021. The total import volume increased at an average annual rate of +4.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of 42% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, silver imports skyrocketed to $X in 2021. In general, total imports indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +3.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +70.7% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Germany (X tons) constituted the largest silver supplier to Italy, accounting for a 40% share of total imports. Moreover, silver imports from Germany exceeded the figures recorded by the second-largest supplier, Switzerland (X tons), threefold. The third position in this ranking was taken by the United States (X tons), with a 9.3% share.

From 2012 to 2021, the average annual growth rate of volume from Germany was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (+10.7% per year) and the United States (+22.1% per year).

In value terms, Germany ($X) constituted the largest supplier of silver including silver plated with gold or platinum to Italy, comprising 45% of total imports. The second position in the ranking was taken by Switzerland ($X), with a 15% share of total imports. It was followed by the United States, with a 12% share.

From 2012 to 2021, the average annual growth rate of value from Germany was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (+8.2% per year) and the United States (+22.9% per year).

Import Prices by Country

In 2021, the average silver import price amounted to $X per ton, increasing by 24% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 24% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 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 the United States ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Morocco (+3.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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