Southern Asia: Market for Articles of Goldsmiths’ Wares of Base Metal Clad with Precious Metal 2024

Market Size for Articles of Goldsmiths’ Wares of Base Metal Clad with Precious Metal in Southern Asia

In 2022, after six years of growth, there was decline in the South Asian market for articles of goldsmiths’ wares of base metal clad with precious metal, when its value decreased by -0.1% to $X. Over the period under review, consumption, however, enjoyed a resilient expansion. The level of consumption peaked at $X in 2021, and then shrank in the following year.

Production of Articles of Goldsmiths’ Wares of Base Metal Clad with Precious Metal in Southern Asia

In value terms, production of articles of goldsmiths’ wares of base metal clad with precious metal amounted to $X in 2022 estimated in export price. The total production indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -0.1% against 2020 indices. The most prominent rate of growth was recorded in 2016 with an increase of 22% against the previous year. The level of production peaked at $X in 2020; afterwards, it flattened through to 2022.

Exports of Articles of Goldsmiths’ Wares of Base Metal Clad with Precious Metal

Exports in Southern Asia

In 2022, overseas shipments of articles of goldsmiths’ wares of base metal clad with precious metal increased by 101% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, exports continue to indicate a measured increase. The most prominent rate of growth was recorded in 2021 with an increase of 353% against the previous year. Over the period under review, the exports of attained the peak figure in 2022 and are likely to continue growth in the immediate term.

In value terms, exports of articles of goldsmiths’ wares of base metal clad with precious metal reduced sharply to $X in 2022. In general, exports saw a prominent expansion. The pace of growth appeared the most rapid in 2016 with an increase of 316%. Over the period under review, the exports of hit record highs at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

India dominates metal structure, reaching X tons, which was approx. 87% of total exports in 2022. It was distantly followed by Sri Lanka (X kg) and Bangladesh (X kg), together creating a 10% share of total exports. Nepal (X kg) held a minor share of total exports.

From 2012 to 2022, average annual rates of growth with regard to precious metal-clad goldsmiths ware articles of base metals exports from India stood at +42.8%. At the same time, Sri Lanka (+45.7%) and Bangladesh (+9.3%) displayed positive paces of growth. Moreover, Sri Lanka emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of +45.7% from 2012-2022. By contrast, Nepal (-26.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of India, Sri Lanka and Bangladesh increased by +83, +5.3 and +1.7 percentage points, respectively.

In value terms, India ($X) remains the largest precious metal-clad goldsmiths ware articles of base metals supplier in Southern Asia, comprising 96% of total exports. The second position in the ranking was held by Nepal ($X), with a 1.8% share of total exports. It was followed by Bangladesh, with a 1.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value in India totaled +23.4%. In the other countries, the average annual rates were as follows: Nepal (-23.4% per year) and Bangladesh (+20.7% per year).

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2022, falling by -63% against the previous year. In general, the export price, however, showed resilient growth. The most prominent rate of growth was recorded in 2017 an increase of 129% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2018; however, from 2019 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 India ($X per ton), while Sri Lanka ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bangladesh (+10.3%), while the other leaders experienced mixed trends in the export price figures.

Imports of Articles of Goldsmiths’ Wares of Base Metal Clad with Precious Metal

Imports in Southern Asia

For the fourth year in a row, Southern Asia recorded growth in supplies from abroad of articles of goldsmiths’ wares of base metal clad with precious metal, which increased by 6% to X tons in 2022. In general, imports posted significant growth. The pace of growth appeared the most rapid in 2021 with an increase of 316%. The volume of import peaked in 2022 and is expected to retain growth in the near future.

In value terms, imports of articles of goldsmiths’ wares of base metal clad with precious metal stood at $X in 2022. Over the period under review, imports, however, saw a deep contraction. The most prominent rate of growth was recorded in 2021 with an increase of 153% against the previous year. Over the period under review, imports of reached the maximum at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

India dominates metal structure, accounting for X tons, which was near 97% of total imports in 2022. Pakistan (X kg) took a little share of total imports.

India was also the fastest-growing in terms of the articles of goldsmiths’ wares of base metal clad with precious metal imports, with a CAGR of +46.2% from 2012 to 2022. At the same time, Pakistan (+38.2%) displayed positive paces of growth. India (+45 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported articles of goldsmiths’ wares of base metal clad with precious metal in Southern Asia, comprising 98% of total imports. The second position in the ranking was taken by Pakistan ($X), with a 0.2% share of total imports.

In India, imports of articles of goldsmiths’ wares of base metal clad with precious metal shrank by an average annual rate of -5.3% over the period from 2012-2022.

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per kg, which is down by -4.9% against the previous year. In general, the import price showed a dramatic decrease. The most prominent rate of growth was recorded in 2016 an increase of 240% against the previous year. Over the period under review, import prices attained the peak figure at $X per kg in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was India ($X per kg), while Pakistan amounted to $X per kg.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Pakistan (-25.3%).

Source: IndexBox Platform

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