Mexico: 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 Mexico

In 2022, the Mexican market for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver decreased by 99.9% to less than $X, falling for the second year in a row after six years of growth. Overall, consumption, however, posted significant growth. Consumption of peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

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

In value terms, production of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver dropped notably to less than $X in 2022 estimated in export price. Over the period under review, production saw significant growth. The pace of growth appeared the most rapid in 2014 when the production volume increased by 196%. Over the period under review, production of hit record highs at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

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

Exports from Mexico

Exports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver from Mexico reached X kg in 2021, standing approx. at the previous year. In general, exports continue to indicate a strong increase. The most prominent rate of growth was recorded in 2014 when exports increased by 1,680%. As a result, the exports attained the peak of X kg. From 2015 to 2021, the growth of the exports of failed to regain momentum.

In value terms, exports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver declined to $X in 2021. Over the period under review, exports continue to indicate significant growth. The most prominent rate of growth was recorded in 2014 with an increase of 5,090% against the previous year. Over the period under review, the exports of attained the peak figure at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

Costa Rica (X kg), Ireland (X kg) and the United States (X kg) were the main destinations of exports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver from Mexico, with a combined 69% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Ireland (with a CAGR of +37.9%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver exports from Mexico, comprising 49% of total exports. The second position in the ranking was held by Spain ($X), with a 19% share of total exports. It was followed by Costa Rica, with a 4.7% share.

From 2012 to 2021, the average annual growth rate of value to the United States totaled +196.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+123.2% per year) and Costa Rica (+36.6% per year).

Export Prices by Country

In 2021, the average export price for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver amounted to $X per kg, falling by -4.8% against the previous year. In general, the export price, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2014 an increase of 192%. Over the period under review, the average export prices attained the maximum at $X per kg in 2020, and then reduced slightly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per kg), while the average price for exports to Costa Rica ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+220.1%), while the prices for the other major destinations experienced more modest paces of growth.

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

Imports into Mexico

In 2021, after two years of decline, there was significant growth in supplies from abroad of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver, when their volume increased by 137% to X kg. Overall, imports enjoyed a significant expansion. The growth pace was the most rapid in 2018 with an increase of 425% against the previous year. As a result, imports reached the peak of X kg. From 2019 to 2021, the growth of imports of remained at a lower figure.

In value terms, imports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver surged to $X in 2021. Over the period under review, imports recorded strong growth. The pace of growth appeared the most rapid in 2018 with an increase of 1,192% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports of remained at a lower figure.

Imports by Country

Canada (X kg), India (X kg) and France (X kg) were the main suppliers of imports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver to Mexico, with a combined 59% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Canada (with a CAGR of +47.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest non-silver precious metal goldsmiths ware articles suppliers to Mexico were Canada ($X), India ($X) and Israel ($X), together comprising 75% of total imports.

Israel, with a CAGR of +70.0%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average import price for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver amounted to $X per ton, with an increase of 8.7% against the previous year. In general, the import price, however, showed a mild shrinkage. The pace of growth appeared the most rapid in 2018 an increase of 146%. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Israel (+45.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :