Middle East: Silversmiths Ware Market 2022

Production By Country in the Middle East

The countries with the highest volumes of silversmiths ware production in 2021 were Turkey (X tons), Iran (X tons) and Saudi Arabia (X tons), together accounting for X% of total production.

From 2012 to 2021, the most notable rate of growth in terms of silversmiths ware production, amongst the main producing countries, was attained by Saudi Arabia (+X%), while silversmiths ware production for the other leaders experienced more modest paces of growth.

Silversmiths Ware Exports

Exports in the Middle East

In 2021, overseas shipments of articles of goldsmiths’ or silversmiths’ wares of silver decreased by -X% to X tons, falling for the second consecutive year after four years of growth. Overall, exports showed a deep downturn. The growth pace was the most rapid in 2019 when exports increased by X% y-o-y. As a result, the exports attained the peak of X tons. From 2020 to 2021, the growth of the exports remained at a lower figure.

In value terms, silversmiths ware exports fell notably to $X in 2021. In general, exports saw a abrupt decline. The pace of growth was the most pronounced in 2019 when exports increased by X% y-o-y. As a result, the exports reached the peak of $X. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Turkey prevails in silversmiths ware exports structure, resulting at X tons, which was approx. X% of total exports in 2021. The United Arab Emirates (X tons) held the second position in the ranking, followed by Israel (X tons). All these countries together held near X% share of total exports.

Turkey was also the fastest-growing in terms of the articles of goldsmiths’ or silversmiths’ wares of silver exports, with a CAGR of +X% from 2012 to 2021. the United Arab Emirates (-X%) and Israel (-X%) illustrated a downward trend over the same period. While the share of Turkey (+X p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Israel (-X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest silversmiths ware supplier in the Middle East, comprising X% of total exports. The second position in the ranking was occupied by Israel ($X), with a X% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Turkey stood at +X%. In the other countries, the average annual rates were as follows: Israel (-X% per year) and the United Arab Emirates (-X% per year).

Export Prices by Country

The silversmiths ware export price in the Middle East stood at $X per ton in 2021, which is down by -X% against the previous year. Overall, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Israel ($X per ton), while the United Arab Emirates ($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 (+X%), while the other leaders experienced a decline in the export price figures.

Silversmiths Ware Imports

Imports in the Middle East

In 2021, purchases abroad of articles of goldsmiths’ or silversmiths’ wares of silver increased by X% to X tons, rising for the fifth year in a row after two years of decline. Over the period under review, imports enjoyed resilient growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, silversmiths ware imports soared to $X in 2021. In general, imports showed a buoyant expansion. The pace of growth appeared the most rapid in 2020 when imports increased by X% y-o-y. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in years to come.

Imports by Country

Israel was the major importer of articles of goldsmiths’ or silversmiths’ wares of silver in the Middle East, with the volume of imports finishing at X tons, which was approx. X% of total imports in 2021. Turkey (X tons) occupied a X% share (based on tons) of total imports, which put it in second place, followed by the United Arab Emirates (X%) and Oman (X%). Qatar (X tons) occupied a relatively small share of total imports.

Israel was also the fastest-growing in terms of the articles of goldsmiths’ or silversmiths’ wares of silver imports, with a CAGR of +X% from 2012 to 2021. At the same time, Oman (+X%), Qatar (+X%) and Turkey (+X%) displayed positive paces of growth. By contrast, the United Arab Emirates (-X%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Israel, Oman and Qatar increased by +X, +X and +X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Israel ($X) constitutes the largest market for imported articles of goldsmiths’ or silversmiths’ wares of silver in the Middle East, comprising X% of total imports. The second position in the ranking was occupied by Turkey ($X), with a X% share of total imports. It was followed by Oman, with an X% share.

In Israel, silversmiths ware imports expanded at an average annual rate of +X% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Turkey (+X% per year) and Oman (+X% per year).

Import Prices by Country

The silversmiths ware import price in the Middle East stood at $X per ton in 2021, dropping by -X% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +X%. The most prominent rate of growth was recorded in 2013 when the import price increased by X% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2020, and then reduced in the following year.

Prices varied noticeably by the country of destination: the country with the highest price was Turkey ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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