MENA: Market for Articles of Goldsmiths’ Wares of Base Metal Clad with Precious Metal 2024

Market Size for Articles of Goldsmiths’ Wares of Base Metal Clad with Precious Metal in MENA

The MENA's market for articles of goldsmiths’ wares of base metal clad with precious metal rose rapidly to $X in 2022, surging by 14% against the previous year. Overall, consumption posted a resilient expansion. Over the period under review, the market reached the peak level in 2022 and is expected to retain growth in the near future.

Production of Articles of Goldsmiths’ Wares of Base Metal Clad with Precious Metal in MENA

In value terms, production of articles of goldsmiths’ wares of base metal clad with precious metal rose to $X in 2022 estimated in export price. Overall, production, however, recorded a tangible expansion. The pace of growth appeared the most rapid in 2017 when the production volume increased by 44%. Over the period under review, production of reached the peak level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Articles of Goldsmiths’ Wares of Base Metal Clad with Precious Metal

Exports in MENA

In 2022, shipments abroad of articles of goldsmiths’ wares of base metal clad with precious metal decreased by -82.4% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, exports showed a deep reduction. The most prominent rate of growth was recorded in 2020 when exports increased by 82%. The volume of export peaked at X tons in 2021, and then declined sharply in the following year.

In value terms, exports of articles of goldsmiths’ wares of base metal clad with precious metal shrank notably to $X in 2022. Over the period under review, exports continue to indicate a abrupt downturn. The growth pace was the most rapid in 2021 with an increase of 129% against the previous year. As a result, the exports attained the peak of $X, and then reduced remarkably in the following year.

Exports by Country

In 2022, Lebanon (X tons) represented the major exporter of articles of goldsmiths’ wares of base metal clad with precious metal, making up 47% of total exports. It was distantly followed by the United Arab Emirates (X tons) and Turkey (X tons), together generating a 43% share of total exports. Israel (X tons), Oman (X tons) and Tunisia (X tons) took a minor share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Oman (with a CAGR of +45.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest precious metal-clad goldsmiths ware articles of base metals supplying countries in MENA were Lebanon ($X), the United Arab Emirates ($X) and Turkey ($X), with a combined 79% share of total exports. Israel, Oman and Tunisia lagged somewhat behind, together accounting for a further 20%.

Oman, with a CAGR of +56.9%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in MENA stood at $X per ton in 2022, with a decrease of -51.4% against the previous year. Over the period under review, the export price recorded a slight curtailment. The pace of growth appeared the most rapid in 2013 an increase of 37% against the previous year. The level of export peaked at $X per ton in 2021, and then reduced markedly in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Oman ($X per ton), while Lebanon ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+23.7%), while the other leaders experienced more modest paces of growth.

Imports of Articles of Goldsmiths’ Wares of Base Metal Clad with Precious Metal

Imports in MENA

In 2022, overseas purchases of articles of goldsmiths’ wares of base metal clad with precious metal increased by 6% to X tons, rising for the second year in a row after five years of decline. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 111%. The volume of import peaked at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, imports of articles of goldsmiths’ wares of base metal clad with precious metal expanded slightly to $X in 2022. In general, imports, however, saw a pronounced setback. The most prominent rate of growth was recorded in 2021 when imports increased by 60% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the United Arab Emirates (X tons) was the largest importer of articles of goldsmiths’ wares of base metal clad with precious metal, constituting 43% of total imports. Turkey (X tons) took the second position in the ranking, distantly followed by Qatar (X tons), Israel (X tons) and Morocco (X tons). All these countries together held near 47% share of total imports. The following importers - Lebanon (X tons) and Bahrain (X tons) - each resulted at a 5.6% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Israel (with a CAGR of +129.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported articles of goldsmiths’ wares of base metal clad with precious metal in MENA, comprising 48% of total imports. The second position in the ranking was held by Qatar ($X), with a 14% share of total imports. It was followed by Turkey, with a 12% share.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: Qatar (+22.2% per year) and Turkey (+4.6% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2022, which is down by -1.9% against the previous year. Over the period under review, the import price showed a noticeable reduction. The pace of growth appeared the most rapid in 2019 an increase of 42% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Morocco ($X per ton), while Lebanon ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Morocco (+8.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform