Slovakia: 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 Slovakia

The Slovak market for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver soared to $X in 2022, with an increase of 142% against the previous year. In general, consumption enjoyed buoyant growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

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

In value terms, production of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver fell notably to $X in 2022 estimated in export price. Overall, production saw a pronounced contraction. The pace of growth was the most pronounced in 2019 when the production volume increased by 14%. As a result, production attained the peak level of $X. From 2020 to 2022, production of growth remained at a somewhat lower figure.

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

Exports from Slovakia

After two years of growth, shipments abroad of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver decreased by -46.6% to X kg in 2022. Overall, exports, however, recorded a significant increase. The pace of growth appeared the most rapid in 2017 when exports increased by 900% against the previous year. The exports peaked at X kg in 2021, and then dropped rapidly in the following year.

In value terms, exports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver fell markedly to $X in 2022. In general, exports, however, continue to indicate a significant increase. The pace of growth appeared the most rapid in 2017 when exports increased by 1,678% against the previous year. Over the period under review, the exports of reached the peak figure at $X in 2021, and then plummeted in the following year.

Exports by Country

The Czech Republic (X kg) was the main destination for exports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver from Slovakia, with a 95% share of total exports. It was followed by Germany (X kg), with a 1.5% share of total exports. Poland (X kg) ranked third in terms of total exports with a 0.8% share.

From 2012 to 2022, the average annual growth rate of volume to the Czech Republic stood at +28.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+12.2% per year) and Poland (-14.9% per year).

In value terms, the Czech Republic ($X) remains the key foreign market for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver exports from Slovakia, comprising 100% of total exports. The second position in the ranking was held by Germany ($X), with a 0.2% share of total exports. It was followed by France, with less than 0.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the Czech Republic totaled +32.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+118.1% per year) and France (-85.9% per year).

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 kg, with a decrease of -8.5% against the previous year. In general, the export price, however, recorded a prominent expansion. The most prominent rate of growth was recorded in 2013 an increase of 1,694% against the previous year. As a result, the export price attained the peak level of $X per kg. From 2014 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the Czech Republic ($X per kg), while the average price for exports to Poland ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+94.3%), while the prices for the other major destinations experienced mixed trend patterns.

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

Imports into Slovakia

For the third consecutive year, Slovakia recorded growth in supplies from abroad of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver, which increased by 342% to X tons in 2022. Overall, imports posted a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, imports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver surged to $X in 2022. In general, imports posted a prominent increase. The pace of growth appeared the most rapid in 2015 when imports increased by 117%. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, the Czech Republic (X kg) constituted the largest supplier of non-silver precious metal goldsmiths ware articles to Slovakia, with a 4.8% share of total imports. Moreover, imports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver from the Czech Republic exceeded the figures recorded by the second-largest supplier, China (X kg), more than tenfold. The third position in this ranking was taken by Switzerland (X kg), with a 0.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the Czech Republic stood at +1.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (0.0% per year) and Switzerland (-40.2% per year).

In value terms, the Czech Republic ($X) constituted the largest supplier of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver to Slovakia, comprising 20% of total imports. The second position in the ranking was held by Turkey ($X), with a 3.9% share of total imports. It was followed by Switzerland, with a 0.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the Czech Republic totaled +8.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+180.4% per year) and Switzerland (-51.6% per year).

Import Prices by Country

In 2022, the average import price for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver amounted to $X per kg, with a decrease of -64.1% against the previous year. Overall, the import price continues to indicate a deep contraction. The growth pace was the most rapid in 2019 when the average import price increased by 41% against the previous year. As a result, import price attained the peak level of $X per kg. From 2020 to 2022, the average import prices failed to regain momentum.

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 Turkey ($X per kg), while the price for Poland ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+94.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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