Northern America: 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 Northern America

In 2022, the North American market for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver increased by 6.9% to $X, rising for the second consecutive year after two years of decline. The total consumption indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +13.6% against 2020 indices. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

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

In value terms, production of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver declined to $X in 2022 estimated in export price. In general, production, however, recorded a perceptible downturn. The most prominent rate of growth was recorded in 2016 when the production volume increased by 27%. The level of production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

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

Exports in Northern America

In 2022, shipments abroad of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver decreased by -1.9% to X kg for the first time since 2018, thus ending a three-year rising trend. Overall, exports saw a drastic downturn. The pace of growth was the most pronounced in 2019 with an increase of 47%. The volume of export peaked 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 dropped to $X in 2022. In general, exports faced a deep setback. The pace of growth appeared the most rapid in 2021 when exports increased by 46%. Over the period under review, the exports of attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X kg) represented roughly 98% of total exports in 2022.

The United States was also the fastest-growing in terms of the articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver exports, with a CAGR of -11.0% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) also remains the largest non-silver precious metal goldsmiths ware articles supplier in Northern America.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States amounted to -16.6%.

Export Prices by Country

The export price in Northern America stood at $X per kg in 2022, with a decrease of -10.2% against the previous year. In general, the export price showed a deep contraction. The pace of growth appeared the most rapid in 2016 when the export price increased by 31% against the previous year. Over the period under review, the export prices reached the peak figure at $X per kg in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to -6.2% per year.

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

Imports in Northern America

Imports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver soared to X kg in 2022, surging by 50% compared with the year before. Overall, imports saw a strong increase. The most prominent rate of growth was recorded in 2017 with an increase of 101% against the previous year. The volume of import peaked in 2022 and is likely to see steady growth in years to come.

In value terms, imports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver surged to $X in 2022. Over the period under review, imports saw perceptible growth. The pace of growth was the most pronounced in 2017 when imports increased by 136% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports of remained at a somewhat lower figure.

Imports by Country

In 2022, the United States (X kg) was the major importer of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver, achieving 72% of total imports. It was distantly followed by Canada (X kg), generating a 28% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to non-silver precious metal goldsmiths ware articles imports into the United States stood at +16.9%. At the same time, Canada (+20.3%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing importer imported in Northern America, with a CAGR of +20.3% from 2012-2022. Canada (+6.6 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver in Northern America, comprising 72% of total imports. The second position in the ranking was taken by Canada ($X), with a 28% share of total imports.

In the United States, imports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver expanded at an average annual rate of +2.2% over the period from 2012-2022.

Import Prices by Country

The import price in Northern America stood at $X per kg in 2022, which is down by -20.9% against the previous year. Over the period under review, the import price continues to indicate a abrupt curtailment. The growth pace was the most rapid in 2017 an increase of 17%. Over the period under review, import prices hit record highs at $X per kg in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Canada ($X per kg), while the United States totaled $X per kg.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (-3.0%).

Source: IndexBox Platform

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