Luxembourg: 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 Luxembourg

The Luxembourg market for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver dropped to $X in 2022, shrinking by -14.4% against the previous year. Overall, the total consumption indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -30.9% against 2019 indices. Consumption of peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

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

In value terms, production of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver reduced notably to $X in 2022 estimated in export price. Over the period under review, the total production indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -38.9% against 2018 indices. The pace of growth was the most pronounced in 2014 with an increase of 40% against the previous year. Production of peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

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

Exports from Luxembourg

In 2022, exports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver from Luxembourg dropped dramatically to X kg, waning by -90.3% against the previous year. Overall, exports saw a precipitous decrease. The growth pace was the most rapid in 2021 when exports increased by 1,450%. Over the period under review, the exports of attained the maximum at X kg in 2012; however, from 2013 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 declined sharply to $X in 2022. In general, exports recorded a sharp downturn. The growth pace was the most rapid in 2021 when exports increased by 35,657% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Poland (X kg), Belgium (X kg) and Slovakia (X kg) were the main destinations of exports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver from Luxembourg.

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 0.0%), while the other leaders experienced a decline.

In value terms, Slovakia ($X) emerged as the key foreign market for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver exports from Luxembourg, comprising 78% of total exports. The second position in the ranking was taken by Belgium ($X), with a 14% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Slovakia stood at -54.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (-9.0% per year) and Poland (0.0% per year).

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, falling by -60.4% against the previous year. In general, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average export price increased by 2,207% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per kg in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Slovakia ($X per kg), while the average price for exports to Poland ($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 Germany (+12.0%), while the prices for the other major destinations experienced a decline.

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

Imports into Luxembourg

Imports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver into Luxembourg dropped markedly to X kg in 2022, with a decrease of -15.5% against the previous year's figure. Overall, imports, however, saw a moderate expansion. The pace of growth was the most pronounced in 2017 when imports increased by 168% against the previous year. As a result, imports reached the peak of X kg. From 2018 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 dropped dramatically to $X in 2022. Over the period under review, imports, however, continue to indicate measured growth. The pace of growth appeared the most rapid in 2016 when imports increased by 214% against the previous year. Over the period under review, imports of attained the maximum at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Thailand (X kg) constituted the largest supplier of non-silver precious metal goldsmiths ware articles to Luxembourg, accounting for a 55% share of total imports. Moreover, imports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver from Thailand exceeded the figures recorded by the second-largest supplier, Germany (X kg), twofold. Israel (X kg) ranked third in terms of total imports with a 4.3% share.

From 2012 to 2022, the average annual growth rate of volume from Thailand totaled +43.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-5.5% per year) and Israel (+58.7% per year).

In value terms, Germany ($X) constituted the largest supplier of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver to Luxembourg, comprising 72% of total imports. The second position in the ranking was held by Israel ($X), with a 12% share of total imports. It was followed by Thailand, with a 7.2% share.

From 2012 to 2022, 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: Israel (+216.1% per year) and Thailand (-10.0% per year).

Import Prices by Country

In 2022, the average import price for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver amounted to $X per kg, with a decrease of -40.3% against the previous year. Over the period under review, the import price recorded a noticeable contraction. The most prominent rate of growth was recorded in 2014 an increase of 109% against the previous year. Over the period under review, average import prices reached the peak figure at $X per kg in 2018; however, from 2019 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 Israel ($X per kg), while the price for Thailand ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (+99.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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