Norway: 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 Norway

In 2022, the Norwegian market for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver increased by 31% to $X, rising for the third year in a row after three years of decline. Overall, consumption showed significant growth. Consumption of peaked at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

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

In value terms, production of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver stood at less than $X in 2022 estimated in export price. Over the period under review, production showed a relatively flat trend pattern.

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

Exports from Norway

In 2022, exports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver from Norway declined significantly to X kg, dropping by -90.5% compared with the previous year. Overall, exports saw a precipitous descent. The most prominent rate of growth was recorded in 2018 when exports increased by 1,013%. Over the period under review, the exports of reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, exports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver contracted significantly to $X in 2022. In general, exports saw a sharp slump. The growth pace was the most rapid in 2018 with an increase of 947% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The Netherlands (X kg) was the main destination for exports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver from Norway, accounting for a 75% share of total exports. Moreover, exports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver to the Netherlands exceeded the volume sent to the second major destination, Germany (X kg), more than tenfold. The third position in this ranking was held by Turkey (X kg), with a 6.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Netherlands amounted to -26.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-25.1% per year) and Turkey (0.0% per year).

In value terms, Iraq ($X), Germany ($X) and the Netherlands ($X) were the largest markets for non-silver precious metal goldsmiths ware articles exported from Norway worldwide, together accounting for 82% of total exports.

Among the main countries of destination, Iraq, with a CAGR of 0.0%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average export price for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver amounted to $X per kg, with a decrease of -75.3% against the previous year. In general, the export price recorded a deep reduction. The growth pace was the most rapid in 2013 an increase of 14%. As a result, the export price reached the peak level of $X per kg. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+10.0%), while the prices for the other major destinations experienced a decline.

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

Imports into Norway

In 2022, purchases abroad of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver increased by 16% to X tons, rising for the second consecutive year after four years of decline. Overall, imports continue to indicate resilient growth. The pace of growth was the most pronounced in 2021 when imports increased by 175%. Over the period under review, imports of hit record highs at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, imports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver reached $X in 2022. Over the period under review, imports, however, saw a slight decrease. The most prominent rate of growth was recorded in 2016 when imports increased by 61% against the previous year. As a result, imports attained the peak of $X. From 2017 to 2022, the growth of imports of remained at a somewhat lower figure.

Imports by Country

In 2022, Denmark (X tons) constituted the largest supplier of non-silver precious metal goldsmiths ware articles to Norway, accounting for a 77% share of total imports. Moreover, imports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver from Denmark exceeded the figures recorded by the second-largest supplier, China (X kg), ninefold. The third position in this ranking was taken by the UK (X kg), with a 2.4% share.

From 2012 to 2022, the average annual growth rate of volume from Denmark amounted to +10.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+13.7% per year) and the UK (+0.6% per year).

In value terms, Denmark ($X) constituted the largest supplier of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver to Norway, comprising 49% of total imports. The second position in the ranking was held by India ($X), with an 11% share of total imports. It was followed by the UK, with a 3.9% share.

From 2012 to 2022, the average annual growth rate of value from Denmark amounted to +9.7%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-5.4% per year) and the UK (+6.6% per year).

Import Prices by Country

In 2022, the average import price for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver amounted to $X per kg, shrinking by -12.9% against the previous year. In general, the import price continues to indicate a abrupt decline. The pace of growth appeared the most rapid in 2019 an increase of 103%. Over the period under review, average import prices hit record highs at $X per kg in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Vietnam ($X per kg), while the price for China ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+21.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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