SADC: 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 SADC

In 2022, the SADC market for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver increased by 6.2% to $X, rising for the fourth year in a row after two years of decline. Over the period under review, consumption posted a prominent increase. The level of consumption peaked in 2022 and is expected to retain growth in the near future.

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

In value terms, production of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver rose notably to $X in 2022 estimated in export price. In general, production enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2014 when the production volume increased by 137% against the previous year. The level of production peaked in 2022 and is likely to continue growth in the immediate term.

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

Exports in SADC

In 2022, after three years of decline, there was significant growth in shipments abroad of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver, when their volume increased by 50% to X tons. In general, exports, however, recorded a abrupt decline. The pace of growth appeared the most rapid in 2018 when exports increased by 790% against the previous year. As a result, the exports reached the peak of X tons. From 2019 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 rose remarkably to $X in 2022. Overall, exports showed a significant increase. The pace of growth appeared the most rapid in 2014 when exports increased by 2,080% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

South Africa prevails in silver structure, recording X tons, which was near 97% of total exports in 2022. Namibia (X kg) took a minor share of total exports.

From 2012 to 2022, average annual rates of growth with regard to non-silver precious metal goldsmiths ware articles exports from South Africa stood at -16.0%. Namibia (-10.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of South Africa decreased by -1.7 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) emerged as the largest non-silver precious metal goldsmiths ware articles supplier in SADC, comprising 9.4% of total exports. The second position in the ranking was taken by Namibia ($X), with a 2.4% share of total exports.

From 2012 to 2022, the average annual growth rate of value in South Africa totaled +1.2%.

Export Prices by Country

The export price in SADC stood at $X per ton in 2022, declining by -27.5% against the previous year. Over the period under review, the export price, however, showed a significant increase. The most prominent rate of growth was recorded in 2014 an increase of 951%. The level of export peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Namibia ($X per ton), while South Africa amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (+20.5%).

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

Imports in SADC

In 2022, purchases abroad of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver increased by 375% to X tons, rising for the second consecutive year after two years of decline. In general, imports, however, saw a drastic downturn. Over the period under review, imports of hit record highs at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver soared to $X in 2022. Over the period under review, imports, however, saw a precipitous shrinkage. Over the period under review, imports of attained the maximum at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

The purchases of the one major importers of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver, namely South Africa, represented more than two-thirds of total import.

South Africa was also the fastest-growing in terms of the articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver imports, with a CAGR of -4.9% from 2012 to 2022. From 2012 to 2022, the share of South Africa increased by +2.7 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) constitutes the largest market for imported articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver in SADC.

From 2012 to 2022, the average annual growth rate of value in South Africa amounted to -30.9%.

Import Prices by Country

In 2022, the import price in SADC amounted to $X per kg, which is down by -65.1% against the previous year. Over the period under review, the import price showed a sharp curtailment. The pace of growth was the most pronounced in 2017 an increase of 164% against the previous year. As a result, import price attained the peak level of $X per kg. From 2018 to 2022, the import prices remained at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for South Africa.

From 2012 to 2022, the rate of growth in terms of prices for South Africa amounted to -27.4% per year.

Source: IndexBox Platform