Portugal: Platinum Market 2024

Platinum Market Size in Portugal

In 2021, the Portuguese platinum market was finally on the rise to reach $X for the first time since 2012, thus ending a eight-year declining trend. Over the period under review, consumption, however, continues to indicate a deep downturn. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Platinum Production in Portugal

In value terms, platinum production reached $X in 2021 estimated in export price. Overall, production, however, recorded a deep reduction. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Platinum Exports

Exports from Portugal

In 2021, shipments abroad of platinum increased by 1,367% to X kg, rising for the third consecutive year after two years of decline. In general, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2014 with an increase of 1,762%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, platinum exports shrank rapidly to $X in 2021. Over the period under review, exports, however, showed a abrupt contraction. The growth pace was the most rapid in 2014 with an increase of 675%. The exports peaked at $X in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

Exports by Country

Malta (X kg) was the main destination for platinum exports from Portugal, with a 89% share of total exports. Moreover, platinum exports to Malta exceeded the volume sent to the second major destination, France (X kg), tenfold.

From 2012 to 2021, the average annual growth rate of volume to Malta was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+69.2% per year) and Germany (-10.6% per year).

In value terms, the largest markets for platinum exported from Portugal were France ($X), Germany ($X) and Spain ($X), together accounting for 90% of total exports.

In terms of the main countries of destination, France, with a CAGR of +18.0%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average platinum export price amounted to $X per kg, waning by -94.7% against the previous year. In general, the export price saw a dramatic decline. The pace of growth was the most pronounced in 2015 when the average export price increased by 157%. The export price peaked at $X per kg in 2016; however, from 2017 to 2021, 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 Germany ($X per kg), while the average price for exports to Malta ($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 Germany (+1.8%), while the prices for the other major destinations experienced a decline.

Platinum Imports

Imports into Portugal

In 2021, approx. X tons of platinum were imported into Portugal; growing by 1,448% against the previous year. Overall, imports posted significant growth. The pace of growth appeared the most rapid in 2014 with an increase of 4,743% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, platinum imports soared to $X in 2021. Over the period under review, imports saw a significant increase. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Italy (X tons) constituted the largest platinum supplier to Portugal, with a 56% share of total imports. Moreover, platinum imports from Italy exceeded the figures recorded by the second-largest supplier, the UK (X kg), twofold. The third position in this ranking was taken by the Czech Republic (X kg), with a 17% share.

From 2012 to 2021, the average annual growth rate of volume from Italy amounted to +78.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+34.8% per year) and the Czech Republic (+45.7% per year).

In value terms, the UK ($X) constituted the largest supplier of platinum to Portugal, comprising 89% of total imports. The second position in the ranking was taken by Germany ($X), with a 6.3% share of total imports. It was followed by Italy, with a 3.2% share.

From 2012 to 2021, the average annual growth rate of value from the UK amounted to +28.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+20.7% per year) and Italy (+35.9% per year).

Import Prices by Country

The average platinum import price stood at $X per kg in 2021, approximately mirroring the previous year. Over the period under review, the import price faced a drastic downturn. The pace of growth was the most pronounced in 2016 when the average import price increased by 702% against the previous year. The import price peaked at $X per kg in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the UK ($X per kg), while the price for France ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+1.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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