Saudi Arabia: Silversmiths Ware Market 2022

Silversmiths Ware Exports

Exports from Saudi Arabia

In 2021, the amount of articles of goldsmiths’ or silversmiths’ wares of silver exported from Saudi Arabia was estimated at X kg, surging by X% compared with the year before. In general, exports, however, saw a deep slump. The most prominent rate of growth was recorded in 2013 with an increase of X% year-to-year. The exports peaked at X kg in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, silversmiths ware exports dropped rapidly to $X in 2021. Overall, exports, however, saw a drastic downturn. The most prominent rate of growth was recorded in 2013 when exports increased by X% year-to-year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Switzerland (X kg) was the main destination for silversmiths ware exports from Saudi Arabia, with a X% share of total exports. Moreover, silversmiths ware exports to Switzerland exceeded the volume sent to the second major destination, the Netherlands (X kg), tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Switzerland stood at +X%.

From 2012 to 2021, the average annual rate of growth in terms of value to Switzerland stood at +X%.

Export Prices by Country

In 2021, the average silversmiths ware export price amounted to $X per kg, falling by -X% against the previous year. In general, the export price, however, saw a temperate expansion. The pace of growth was the most pronounced in 2013 when the average export price increased by X% against the previous year. Over the period under review, the average export prices reached the maximum at $X per kg in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by the country of destination: the country with the highest price was the Netherlands ($X per kg), while the average price for exports to Switzerland stood at $X per kg.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+X%).

Silversmiths Ware Imports

Imports into Saudi Arabia

In 2021, imports of articles of goldsmiths’ or silversmiths’ wares of silver into Saudi Arabia totaled less than X kg, standing approx. at the year before. Overall, imports continue to indicate a slight downturn. The most prominent rate of growth was recorded in 2014 when imports increased by X% year-to-year. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth imports remained at a lower figure.

In value terms, silversmiths ware imports amounted to $less than X in 2021. Over the period under review, imports continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2021, the growth imports remained at a somewhat lower figure.

Imports by Country

In 2015, the United Arab Emirates (X tons) was the main silversmiths ware supplier to Saudi Arabia, accounting for a X% share of total imports. Moreover, silversmiths ware imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Italy (X tons), fivefold. The third position in this ranking was occupied by Turkey (X tons), with a X% share.

From 2012 to 2015, the average annual growth rate of volume from the United Arab Emirates was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (X% per year) and Turkey (-X% per year).

In value terms, the largest silversmiths ware suppliers to Saudi Arabia were Turkey ($X), China ($X) and the United Arab Emirates ($X), together accounting for X% of total imports.

Among the main suppliers, the United Arab Emirates, with a CAGR of +X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average silversmiths ware import price stood at $X per ton in 2015, with a decrease of -X% against the previous year. Overall, the import price recorded a abrupt curtailment. The pace of growth appeared the most rapid in 2014 when the average import price decreased by -X% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2015, import prices failed to regain momentum.

Prices varied noticeably by the country of origin: the country with the highest price was the United Arab Emirates ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2015, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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