South-Eastern Asia: 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 South-Eastern Asia

The Southeast Asian market for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver reduced rapidly to $X in 2022, which is down by -95.3% against the previous year. In general, consumption saw a precipitous decline. Over the period under review, the market attained the peak level at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Production of Articles of Goldsmiths’ or Silversmiths’ Wares of Precious Metals other than Silver in South-Eastern Asia

In value terms, production of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver shrank significantly to $X in 2022 estimated in export price. Over the period under review, production showed a precipitous decrease. The most prominent rate of growth was recorded in 2013 with an increase of 41%. As a result, production reached the peak level of $X. From 2014 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 in South-Eastern Asia

In 2022, overseas shipments of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver decreased by -45.3% to X tons, falling for the second consecutive year after three years of growth. In general, exports saw a drastic downturn. The pace of growth was the most pronounced in 2016 when exports increased by 205% against the previous year. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, exports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver dropped slightly to $X in 2022. Overall, exports recorded a abrupt curtailment. The pace of growth was the most pronounced in 2016 when exports increased by 1,569% against the previous year. Over the period under review, the exports of reached the maximum at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Thailand (X tons) and Brunei Darussalam (X tons) prevails in silver structure, together constituting 90% of total exports. It was distantly followed by Singapore (X kg), committing a 5.8% share of total exports. Malaysia (X kg) took a minor share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Brunei Darussalam (with a CAGR of +71.6%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Singapore ($X), Malaysia ($X) and Thailand ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined 61% share of total exports.

Among the main exporting countries, Singapore, with a CAGR of +26.4%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per kg in 2022, surging by 75% against the previous year. Overall, the export price, however, showed a deep slump. The growth pace was the most rapid in 2016 when the export price increased by 447% against the previous year. The level of export peaked at $X per kg in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

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 Malaysia ($X per kg), while Brunei Darussalam ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+1.5%), while the other leaders experienced a decline in the export price figures.

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

Imports in South-Eastern Asia

In 2022, supplies from abroad of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver increased by 212% to X tons for the first time since 2016, thus ending a five-year declining trend. In general, imports continue to indicate a slight expansion. The volume of import peaked at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, imports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver shrank to $X in 2022. Over the period under review, imports, however, saw a abrupt contraction. The growth pace was the most rapid in 2021 when imports increased by 201%. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Singapore represented the largest importer of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver in South-Eastern Asia, with the volume of imports resulting at X tons, which was near 70% of total imports in 2022. Malaysia (X tons) took a 13% share (based on physical terms) of total imports, which put it in second place, followed by Indonesia (12%). Thailand (X kg) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to non-silver precious metal goldsmiths ware articles imports into Singapore stood at +1.8%. At the same time, Indonesia (+20.5%) and Malaysia (+9.0%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +20.5% from 2012-2022. By contrast, Thailand (-14.9%) illustrated a downward trend over the same period. Indonesia (+10 p.p.), Malaysia (+6.9 p.p.) and Singapore (+2.5 p.p.) significantly strengthened its position in terms of the total imports, while Thailand saw its share reduced by -19.5% from 2012 to 2022, respectively.

In value terms, Singapore ($X), Malaysia ($X) and Thailand ($X) were the countries with the highest levels of imports in 2022, together accounting for 99% of total imports.

In terms of the main importing countries, Malaysia, with a CAGR of +5.6%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in South-Eastern Asia stood at $X per kg in 2022, waning by -68.2% against the previous year. Overall, the import price showed a abrupt contraction. The most prominent rate of growth was recorded in 2021 an increase of 284%. As a result, import price attained the peak level of $X per kg, and then reduced dramatically in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Malaysia ($X per kg), while Indonesia ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (-3.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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