SADC: Unwrought Silver Market 2025

Unwrought Silver Market Size in SADC

The SADC unwrought silver market reduced to $X in 2021, falling by -14.4% against the previous year. Overall, consumption continues to indicate a deep setback. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Unwrought Silver Production in SADC

In value terms, unwrought silver production fell dramatically to $X in 2021 estimated in export price. In general, production, however, continues to indicate a deep setback. The most prominent rate of growth was recorded in 2013 when the production volume increased by 60%. As a result, production attained the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

Unwrought Silver Exports

Exports in SADC

In 2021, overseas shipments of silver, unwrought or in powder form increased by 464% to X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports recorded significant growth. The most prominent rate of growth was recorded in 2015 with an increase of 754% against the previous year. The volume of export peaked at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, unwrought silver exports skyrocketed to $X in 2021. Overall, exports showed significant growth. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

South Africa (X tons) represented roughly 98% of total exports in 2021.

South Africa was also the fastest-growing in terms of the silver, unwrought or in powder form exports, with a CAGR of +32.2% from 2012 to 2021. While the share of South Africa (+48 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) also remains the largest unwrought silver supplier in SADC.

In South Africa, unwrought silver exports expanded at an average annual rate of +67.0% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in SADC amounted to $X per ton, increasing by 83% against the previous year. Overall, the export price recorded strong growth. The most prominent rate of growth was recorded in 2020 an increase of 187%. The level of export peaked in 2021 and is expected to retain growth in the immediate term.

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

From 2012 to 2021, the rate of growth in terms of prices for South Africa amounted to +26.3% per year.

Unwrought Silver Imports

Imports in SADC

In 2021, overseas purchases of silver, unwrought or in powder form decreased by -59.8% to X tons for the first time since 2018, thus ending a two-year rising trend. Over the period under review, imports saw a pronounced curtailment. The growth pace was the most rapid in 2016 with an increase of 195% against the previous year. Over the period under review, imports attained the maximum at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, unwrought silver imports declined sharply to $X in 2021. In general, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of 355%. The level of import peaked at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, South Africa (X tons) represented the main importer of silver, unwrought or in powder form, achieving 70% of total imports. It was distantly followed by Mauritius (X kg) and Madagascar (X kg), together generating a 27% share of total imports. Comoros (X kg) followed a long way behind the leaders.

Imports into South Africa increased at an average annual rate of +2.4% from 2012 to 2021. At the same time, Madagascar (+18.9%) displayed positive paces of growth. Moreover, Madagascar emerged as the fastest-growing importer imported in SADC, with a CAGR of +18.9% from 2012-2021. Comoros experienced a relatively flat trend pattern. By contrast, Mauritius (-12.8%) illustrated a downward trend over the same period. While the share of South Africa (+29 p.p.), Madagascar (+6.2 p.p.) and Comoros (+1.7 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Mauritius (-28.4 p.p.) displayed negative dynamics.

In value terms, South Africa ($X) constitutes the largest market for imported silver, unwrought or in powder form in SADC, comprising 69% of total imports. The second position in the ranking was taken by Mauritius ($X), with a 22% share of total imports. It was followed by Madagascar, with a 6% share.

In South Africa, unwrought silver imports increased at an average annual rate of +14.3% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Mauritius (-11.5% per year) and Madagascar (+24.2% per year).

Import Prices by Country

In 2021, the import price in SADC amounted to $X per ton, jumping by 24% against the previous year. In general, the import price continues to indicate a moderate expansion. The growth pace was the most rapid in 2016 when the import price increased by 54% against the previous year. The level of import peaked in 2021 and is expected to retain growth in the near future.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Mauritius ($X per ton) and South Africa ($X per ton), while Madagascar ($X per ton) and Comoros ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (+11.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform