Japan: Silver Market 2025

Silver Market Size in Japan

The Japanese silver market rose modestly to $X in 2021, increasing by 3.1% against the previous year. Overall, consumption showed a deep downturn. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Silver Production in Japan

In value terms, silver production contracted to $X in 2021 estimated in export price. Overall, production recorded a noticeable decline. The pace of growth appeared the most rapid in 2020 when the production volume increased by 20% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Silver Exports

Exports from Japan

In 2021, the amount of silver including silver plated with gold or platinum exported from Japan rose remarkably to X tons, surging by 8.2% on the previous year's figure. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of 28%. Over the period under review, the exports reached the maximum at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, silver exports soared to $X in 2021. In general, total exports indicated a modest expansion from 2012 to 2021: its value increased at an average annual rate of +1.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +83.4% against 2018 indices. The most prominent rate of growth was recorded in 2020 with an increase of 34% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are likely to see gradual growth in years to come.

Exports by Country

China (X tons) was the main destination for silver exports from Japan, with a 44% share of total exports. Moreover, silver exports to China exceeded the volume sent to the second major destination, Taiwan (Chinese) (X tons), fourfold. The third position in this ranking was taken by South Korea (X tons), with a 7.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to China totaled +11.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (-0.4% per year) and South Korea (-5.8% per year).

In value terms, China ($X) remains the key foreign market for silver including silver plated with gold or platinum exports from Japan, comprising 64% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 12% share of total exports. It was followed by South Korea, with a 4.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China totaled +27.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (-4.2% per year) and South Korea (-14.9% per year).

Export Prices by Country

In 2021, the average silver export price amounted to $X per ton, rising by 21% against the previous year. Overall, export price indicated a notable increase from 2012 to 2021: its price increased at an average annual rate of +2.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, silver export price increased by +68.0% against 2018 indices. The most prominent rate of growth was recorded in 2020 an increase of 33% against the previous year. The export price peaked in 2021 and is likely to continue growth in years to come.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to the Czech Republic ($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 China (+14.8%), while the prices for the other major destinations experienced more modest paces of growth.

Silver Imports

Imports into Japan

In 2021, imports of silver including silver plated with gold or platinum into Japan skyrocketed to X tons, increasing by 20% against the previous year. The total import volume increased at an average annual rate of +2.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, silver imports surged to $X in 2021. Overall, imports enjoyed a mild expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, South Korea (X tons) constituted the largest supplier of silver to Japan, with a 58% share of total imports. Moreover, silver imports from South Korea exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold. The third position in this ranking was taken by Mexico (X tons), with a 10% share.

From 2012 to 2021, the average annual growth rate of volume from South Korea amounted to +4.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+7.0% per year) and Mexico (+0.4% per year).

In value terms, South Korea ($X) constituted the largest supplier of silver including silver plated with gold or platinum to Japan, comprising 70% of total imports. The second position in the ranking was taken by Mexico ($X), with a 13% share of total imports. It was followed by China, with a 9.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from South Korea totaled +1.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (-2.2% per year) and China (+17.2% per year).

Import Prices by Country

In 2021, the average silver import price amounted to $X per ton, growing by 27% against the previous year. Overall, the import price, however, recorded a mild reduction. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 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 Mexico ($X per ton), while the price for Thailand ($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 (+9.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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