MENA: Market for Precious Metal Ores And Concentrates 2025

Market Size for Precious Metal Ores And Concentrates in MENA

The MENA's market for precious metal ores and concentrates expanded modestly to $X in 2022, growing by 3.9% against the previous year. Overall, consumption enjoyed a strong expansion. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Production of Precious Metal Ores And Concentrates in MENA

In value terms, precious metal ore and concentrate production rose to $X in 2022 estimated in export price. The total production indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +9.2% 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 -3.6% against 2020 indices. The most prominent rate of growth was recorded in 2016 when the production volume increased by 83% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Precious Metal Ores And Concentrates

Exports in MENA

In 2022, the amount of precious metal ores and concentrates exported in MENA expanded modestly to X tons, surging by 3% on 2021 figures. Total exports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +11.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -6.9% against 2020 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 173%. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, precious metal ore and concentrate exports reduced to $X in 2022. Total exports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +9.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +58.8% against 2018 indices. The pace of growth appeared the most rapid in 2013 with an increase of 148%. Over the period under review, the exports reached the maximum at $X in 2021, and then contracted modestly in the following year.

Exports by Country

Turkey dominates exports structure, finishing at X tons, which was approx. 86% of total exports in 2022. It was distantly followed by Morocco (X tons), mixing up a 9.9% share of total exports. Saudi Arabia (X tons) and Iran (X tons) took a little share of total exports.

Exports from Turkey increased at an average annual rate of +10.9% from 2012 to 2022. At the same time, Iran (+106.9%) and Morocco (+21.1%) displayed positive paces of growth. Moreover, Iran emerged as the fastest-growing exporter exported in MENA, with a CAGR of +106.9% from 2012-2022. Saudi Arabia experienced a relatively flat trend pattern. Morocco (+5.7 p.p.) and Iran (+1.9 p.p.) significantly strengthened its position in terms of the total exports, while Turkey and Saudi Arabia saw its share reduced by -2.3% and -4.9% from 2012 to 2022, respectively.

In value terms, Turkey ($X) remains the largest precious metal ore and concentrate supplier in MENA, comprising 84% of total exports. The second position in the ranking was held by Morocco ($X), with an 8.7% share of total exports. It was followed by Saudi Arabia, with a 5.6% share.

In Turkey, precious metal ore and concentrate exports increased at an average annual rate of +10.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Morocco (+43.5% per year) and Saudi Arabia (-0.3% per year).

Export Prices by Country

The export price in MENA stood at $X per ton in 2022, shrinking by -4.8% against the previous year. Over the period under review, the export price showed a slight slump. The pace of growth was the most pronounced in 2020 an increase of 30%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while Iran ($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 (+18.5%), while the other leaders experienced mixed trends in the export price figures.

Imports of Precious Metal Ores And Concentrates

Imports in MENA

In 2022, supplies from abroad of precious metal ores and concentrates decreased by -62.4% to X tons, falling for the third year in a row after three years of growth. Overall, imports, however, saw a significant expansion. The pace of growth appeared the most rapid in 2017 with an increase of 921% against the previous year. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, precious metal ore and concentrate imports declined remarkably to $X in 2022. In general, imports, however, enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2018 with an increase of 251% against the previous year. The level of import peaked at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Turkey was the major importer of precious metal ores and concentrates in MENA, with the volume of imports resulting at X tons, which was approx. 66% of total imports in 2022. The United Arab Emirates (X tons) held the second position in the ranking, distantly followed by Iraq (X tons) and Tunisia (X tons). All these countries together took approx. 29% share of total imports. Oman (X tons) held a relatively small share of total imports.

Turkey was also the fastest-growing in terms of the precious metal ores and concentrates imports, with a CAGR of +70.1% from 2012 to 2022. At the same time, Oman (+51.6%), the United Arab Emirates (+33.1%) and Tunisia (+16.7%) displayed positive paces of growth. By contrast, Iraq (-2.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Turkey, Iraq and Oman increased by +57, +7.4 and +2.5 percentage points, respectively.

In value terms, the United Arab Emirates ($X), Oman ($X) and Turkey ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 98% share of total imports.

Oman, with a CAGR of +43.1%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in MENA amounted to $X per ton, rising by 30% against the previous year. Over the period under review, the import price, however, faced a deep setback. The most prominent rate of growth was recorded in 2016 an increase of 293%. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Tunisia (+1.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform