MERCOSUR: 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 MERCOSUR

In 2022, after four years of growth, there was significant decline in the MERCOSUR market for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver, when its value decreased by -11.3% to $X. In general, consumption continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market remained at a lower figure.

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

In value terms, production of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver reduced to $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the production volume increased by 79%. The level of production peaked at $X in 2021, and then reduced in the following year.

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

Exports in MERCOSUR

For the fourth consecutive year, MERCOSUR recorded growth in shipments abroad of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver, which increased by 132% to X kg in 2022. Over the period under review, exports recorded strong growth. Over the period under review, the exports of hit record highs at X kg in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, exports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver surged to $X in 2022. In general, exports posted a resilient expansion. The most prominent rate of growth was recorded in 2019 with an increase of 181%. Over the period under review, the exports of reached the peak figure at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Brazil prevails in silver structure, resulting at X kg, which was near 95% of total exports in 2022. The following exporters - Peru (X kg) and Argentina (X kg) - each finished at a 3.9% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to non-silver precious metal goldsmiths ware articles exports from Brazil stood at +7.7%. At the same time, Argentina (+23.1%) and Peru (+3.6%) displayed positive paces of growth. Moreover, Argentina emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of +23.1% from 2012-2022. Brazil (+14 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) remains the largest non-silver precious metal goldsmiths ware articles supplier in MERCOSUR, comprising 98% of total exports. The second position in the ranking was taken by Argentina ($X), with a 0.9% share of total exports.

In Brazil, exports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver expanded at an average annual rate of +5.6% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Argentina (+46.0% per year) and Peru (+13.6% per year).

Export Prices by Country

In 2022, the export price in MERCOSUR amounted to $X per ton, which is down by -1.8% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the export price increased by 147% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Brazil ($X per ton), while Peru ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+18.6%), while the other leaders experienced mixed trends in the export price figures.

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

Imports in MERCOSUR

In 2022, supplies from abroad of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver decreased by -22.1% to X kg for the first time since 2019, thus ending a two-year rising trend. Over the period under review, imports continue to indicate a noticeable slump. The most prominent rate of growth was recorded in 2015 with an increase of 44% against the previous year. As a result, imports reached the peak of X kg. From 2016 to 2022, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver dropped remarkably to $X in 2022. In general, imports recorded a noticeable decline. The growth pace was the most rapid in 2021 when imports increased by 54%. The level of import peaked at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Peru (X kg) and Chile (X kg) represented roughly 53% of total imports in 2022. Uruguay (X kg) ranks next in terms of the total imports with a 15% share, followed by Venezuela (11%), Ecuador (9.9%), Colombia (6.2%) and Argentina (4.9%).

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Uruguay (with a CAGR of +14.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Chile ($X), Venezuela ($X) and Peru ($X) were the countries with the highest levels of imports in 2022, together comprising 76% of total imports.

Chile, with a CAGR of +17.8%, recorded the highest growth rate of the value of imports, among 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 MERCOSUR amounted to $X per kg, with a decrease of -9.3% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the import price increased by 90%. As a result, import price attained the peak level of $X per kg. From 2015 to 2022, the 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 Venezuela ($X per kg), while Uruguay ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+15.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform