MERCOSUR: Unwrought Silver Market 2025

Unwrought Silver Market Size in MERCOSUR

In 2021, after three years of growth, there was decline in the MERCOSUR unwrought silver market, when its value decreased by -4.5% to $X. Overall, consumption saw a slight contraction. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Unwrought Silver Production in MERCOSUR

In value terms, unwrought silver production reduced to $X in 2021 estimated in export price. Over the period under review, production saw a perceptible contraction. The growth pace was the most rapid in 2019 when the production volume increased by 16%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Unwrought Silver Exports

Exports in MERCOSUR

In 2021, overseas shipments of silver, unwrought or in powder form increased by 0.5% to X tons, rising for the second consecutive year after two years of decline. The total export volume increased at an average annual rate of +1.1% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2020 when exports increased by 23%. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, unwrought silver exports surged to $X in 2021. Over the period under review, exports, however, showed a mild curtailment. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Chile was the key exporting country with an export of around X tons, which amounted to 46% of total exports. Argentina (X tons) held a 30% share (based on physical terms) of total exports, which put it in second place, followed by Peru (22%).

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Argentina (with a CAGR of +5.9%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Chile ($X), Argentina ($X) and Peru ($X) appeared to be the countries with the highest levels of exports in 2021, together comprising 98% of total exports.

In terms of the main exporting countries, Argentina, with a CAGR of +2.6%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in MERCOSUR stood at $X per ton in 2021, picking up by 34% against the previous year. Overall, the export price, however, recorded a pronounced decline. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Argentina ($X per ton), while Chile ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Chile (-2.3%), while the other leaders experienced a decline in the export price figures.

Unwrought Silver Imports

Imports in MERCOSUR

In 2021, overseas purchases of silver, unwrought or in powder form were finally on the rise to reach X tons after four years of decline. In general, imports, however, showed a perceptible setback. The volume of import peaked at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, unwrought silver imports soared to $X in 2021. Overall, imports, however, continue to indicate a abrupt setback. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Brazil prevails in imports structure, accounting for X tons, which was approx. 80% of total imports in 2021. Argentina (X tons) ranks second in terms of the total imports with a 7.2% share, followed by Colombia (6.2%) and Chile (5.7%).

Imports into Brazil decreased at an average annual rate of -6.4% from 2012 to 2021. At the same time, Argentina (+74.2%), Chile (+12.9%) and Colombia (+10.4%) displayed positive paces of growth. Moreover, Argentina emerged as the fastest-growing importer imported in MERCOSUR, with a CAGR of +74.2% from 2012-2021. From 2012 to 2021, the share of Argentina, Colombia and Chile increased by +7.2, +4.5 and +4.4 percentage points, respectively.

In value terms, Brazil ($X) constitutes the largest market for imported silver, unwrought or in powder form in MERCOSUR, comprising 82% of total imports. The second position in the ranking was held by Argentina ($X), with a 7.3% share of total imports. It was followed by Colombia, with a 5.8% share.

From 2012 to 2021, the average annual growth rate of value in Brazil totaled -7.9%. In the other countries, the average annual rates were as follows: Argentina (+73.5% per year) and Colombia (+18.8% per year).

Import Prices by Country

The import price in MERCOSUR stood at $X per ton in 2021, growing by 21% against the previous year. Overall, the import price, however, saw a slight contraction. The pace of growth was the most pronounced in 2020 when the import price increased by 32%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Brazil ($X per ton) and Argentina ($X per ton), while Chile ($X per ton) and Colombia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Colombia (+7.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform