Pakistan: 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 Pakistan

The Pakistani market for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver rose sharply to $X in 2022, picking up by 5.5% against the previous year. In general, consumption continues to indicate measured growth. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

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

In value terms, production of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver expanded markedly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.2% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2014 with an increase of 12%. Production of peaked in 2022 and is expected to retain growth in years to come.

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

Exports from Pakistan

In 2022, after two years of growth, there was significant decline in overseas shipments of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver, when their volume decreased by -10% to X kg. Overall, exports continue to indicate a perceptible decrease. The pace of growth appeared the most rapid in 2014 when exports increased by 136%. As a result, the exports attained the peak of X kg. From 2015 to 2022, 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 dropped markedly to $X in 2022. In general, exports continue to indicate a pronounced decrease. The growth pace was the most rapid in 2016 with an increase of 13,397% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X kg), South Africa (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 Pakistan, together comprising 33% of total exports.

From 2012 to 2022, the biggest increases were recorded for South Africa (with a CAGR of 0.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Thailand ($X) and the UK ($X) appeared to be the largest markets for non-silver precious metal goldsmiths ware articles exported from Pakistan worldwide, together accounting for 73% of total exports. South Africa, Canada, the United Arab Emirates, France and the Netherlands lagged somewhat behind, together comprising a further 25%.

France, with a CAGR of +2,000.0%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination 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 ton, with a decrease of -11% against the previous year. Overall, the export price showed a mild decrease. The pace of growth was the most pronounced in 2016 an increase of 10,397%. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (+2,000.0%), 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 Pakistan

For the eighth consecutive year, Pakistan recorded growth in purchases abroad of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver, which increased by 3.6% to X kg in 2022. Overall, imports continue to indicate a moderate expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 460%. As a result, imports attained the peak of X kg. From 2014 to 2022, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver reached $X in 2022. In general, imports continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2015 when imports increased by 178%. Over the period under review, imports of hit record highs at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Germany (X kg) constituted the largest non-silver precious metal goldsmiths ware articles supplier to Pakistan, accounting for a 79% share of total imports. Moreover, imports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver from Germany exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X kg), fivefold. Japan (X kg) ranked third in terms of total imports with a 1.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany totaled +20.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+6.1% per year) and Japan (-10.4% per year).

In value terms, Germany ($X) constituted the largest supplier of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver to Pakistan, comprising 99% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 1.3% share of total imports. It was followed by Japan, with a 0.1% share.

From 2012 to 2022, the average annual growth rate of value from Germany amounted to +15.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+9.1% per year) and Japan (-8.8% per year).

Import Prices by Country

The average import price for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver stood at $X per kg in 2022, shrinking by -3.3% against the previous year. Overall, the import price, however, continues to indicate modest growth. The pace of growth appeared the most rapid in 2015 when the average import price increased by 138% against the previous year. Over the period under review, average import prices attained the peak figure at $X per kg in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

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 Germany ($X per kg), while the price for the UK ($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 (+2.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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