Japan: 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 Japan

The Japanese market for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver declined to $X in 2022, waning by -7.1% against the previous year. Overall, consumption recorded a perceptible setback. Consumption of peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

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

In value terms, production of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver shrank markedly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a precipitous descent. The pace of growth was the most pronounced in 2018 with an increase of 77,673%. Production of peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

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

Exports from Japan

In 2022, overseas shipments of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver increased by 41% to X tons, rising for the second year in a row after two years of decline. Overall, exports, however, saw a deep contraction. The pace of growth appeared the most rapid in 2018 when exports increased by 183%. Over the period under review, the exports of attained the peak figure at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver reduced notably to $X in 2022. In general, exports, however, recorded a sharp decrease. The most prominent rate of growth was recorded in 2018 when exports increased by 151% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Thailand (X kg), South Korea (X kg) and Hong Kong SAR (X kg) were the main destinations of exports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver from Japan, with a combined 93% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Thailand (with a CAGR of +48.5%), while the other leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($X), South Korea ($X) and Thailand ($X) constituted the largest markets for non-silver precious metal goldsmiths ware articles exported from Japan worldwide, together comprising 63% of total exports.

Among the main countries of destination, Hong Kong SAR, with a CAGR of +44.2%, saw the highest rates of growth with regard to the value of exports, 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, reducing by -80.3% against the previous year. Overall, the export price continues to indicate a abrupt descent. The pace of growth appeared the most rapid in 2019 an increase of 95%. As a result, the export price attained the peak level of $X per kg. From 2020 to 2022, the average 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 Hong Kong SAR ($X per kg), while the average price for exports to Thailand ($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 South Korea (+14.2%), 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 Japan

Imports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver into Japan skyrocketed to X kg in 2022, rising by 74% compared with 2021. Over the period under review, imports, however, saw a abrupt descent. The growth pace was the most rapid in 2016 when imports increased by 106% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver skyrocketed to $X in 2022. Overall, imports, however, recorded a relatively flat trend pattern. Imports peaked at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The United States (X kg), the UK (X kg) and France (X kg) were the main suppliers of imports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver to Japan, with a combined 69% share of total imports. Moreover, imports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver in the United States exceeded the figures recorded by the second-largest supplier, the UK, twofold.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the UK (with a CAGR of +42.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), France ($X) and the UK ($X) were the largest non-silver precious metal goldsmiths ware articles suppliers to Japan, with a combined 71% share of total imports.

In terms of the main suppliers, the UK, with a CAGR of +88.5%, saw the highest growth rate of 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 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 11% against the previous year. Overall, the import price recorded prominent growth. The pace of growth appeared the most rapid in 2019 when the average import price increased by 272% against the previous year. 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 Italy ($X per kg), while the price for the United States ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+32.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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