Report Update Feb 1, 2025

Sri Lanka - Silver Including Silver Plated With Gold or Platinum - Market Analysis, Forecast, Size, Trends and Insights

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Sri Lanka: Silver Market 2025

Silver Market Size in Sri Lanka

In 2021, the Sri Lankan silver market was finally on the rise to reach $X for the first time since 2017, thus ending a three-year declining trend. Overall, consumption saw a resilient increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Silver Exports

Exports from Sri Lanka

For the fourth consecutive year, Sri Lanka recorded growth in shipments abroad of silver including silver plated with gold or platinum, which increased by 2,550% to X kg in 2021. Over the period under review, exports saw a resilient expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, silver exports shrank to $X in 2021. In general, exports, however, saw a abrupt slump. The most prominent rate of growth was recorded in 2015 when exports increased by 159%. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Italy (X kg) was the main destination for silver exports from Sri Lanka, with a 98% share of total exports. It was followed by Ethiopia (X kg), with a 1.9% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Italy stood at +2,500.0%.

In value terms, Italy ($X) remains the key foreign market for silver including silver plated with gold or platinum exports from Sri Lanka, comprising 99% of total exports. The second position in the ranking was held by Ethiopia ($X), with a 0.6% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Italy totaled -1.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ethiopia (0.0% per year) and Germany (-54.5% per year).

Export Prices by Country

The average silver export price stood at $X per ton in 2021, shrinking by -96.8% against the previous year. Overall, the export price showed a significant decline. The most prominent rate of growth was recorded in 2013 when the average export price increased by 80%. The export price peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Ethiopia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+10.0%), while the prices for the other major destinations experienced a decline.

Silver Imports

Imports into Sri Lanka

After three years of decline, purchases abroad of silver including silver plated with gold or platinum increased by 237% to X tons in 2021. In general, imports recorded a pronounced increase. Over the period under review, imports reached the peak figure at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, silver imports soared to $X in 2021. Overall, imports posted strong growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Italy (X tons) constituted the largest silver supplier to Sri Lanka, accounting for a 52% share of total imports. Moreover, silver imports from Italy exceeded the figures recorded by the second-largest supplier, France (X kg), fivefold. The third position in this ranking was taken by Thailand (X kg), with an 8% share.

From 2012 to 2021, the average annual growth rate of volume from Italy stood at +23.0%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+11.7% per year) and Thailand (+21.0% per year).

In value terms, Italy ($X) constituted the largest supplier of silver including silver plated with gold or platinum to Sri Lanka, comprising 28% of total imports. The second position in the ranking was taken by Thailand ($X), with a 12% share of total imports. It was followed by Canada, with a 4.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Italy totaled +36.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+21.8% per year) and Canada (-1.3% per year).

Import Prices by Country

In 2021, the average silver import price amounted to $X per ton, with an increase of 8.6% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.1%. The most prominent rate of growth was recorded in 2020 when the average import price increased by 28% against the previous year. The import price peaked in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Canada ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+10.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for silver including silver plated with gold or platinum in the world?

The countries with the highest volumes of silver consumption in 2020 were China, the United States and Canada, together comprising 29% of global consumption.

What are the largest producers of silver including silver plated with gold or platinum in the world?

China remains the largest silver producing country worldwide, comprising approx. 19% of total volume. Moreover, silver production in China exceeded the figures recorded by the second-largest producer, Japan, twofold. Mexico ranked third in terms of total production with a 5.9% share.

What are the leading suppliers of silver including silver plated with gold or platinum to Sri Lanka?

In value terms, Thailand constituted the largest supplier of silver to Sri Lanka, comprising 56% of total imports. The second position in the ranking was occupied by Germany, with a 27% share of total imports. It was followed by Italy, with an 11% share.

What are the leading importers of silver including silver plated with gold or platinum from Sri Lanka?

In value terms, the largest markets for silver exported from Sri Lanka were Italy, Germany and Maldives.

What is the average export price for silver including silver plated with gold or platinum in Sri Lanka?

In 2020, the average silver export price amounted to $598,744 per ton, picking up by 1,897% against the previous year.

What is the average import price for silver including silver plated with gold or platinum in Sri Lanka?

The average silver import price stood at $435,998 per ton in 2020, increasing by 112% against the previous year.

This report provides an in-depth analysis of the silver market in Sri Lanka. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 24411030 - Silver, unwrought or in powder form (including plated with gold or platinum)
Prodcom 24411050 - Silver, in semi-manufactured forms (including plated with gold or platinum) (excluding unwrought or in powder form)

Country coverage:

Sri Lanka

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Sri Lanka
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2024
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2024
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2024
2. Market Volume, In Physical Terms, 2012–2024
3. Market Value, 2012–2024
4. Per Capita Consumption In 2012-2024
5. Imports, In Physical Terms, By Country, 2012–2024
6. Imports, In Value Terms, By Country, 2012–2024
7. Import Prices, By Country Of Origin, 2012–2024
8. Exports, In Physical Terms, By Country, 2012–2024
9. Exports, In Value Terms, By Country, 2012–2024
10. Export Prices, By Country Of Destination, 2012–2024
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2024
2. Market Value, 2012–2024
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
5. Trade Balance, In Physical Terms, 2012-2024
6. Trade Balance, In Value Terms, 2012-2024
7. Per Capita Consumption, 2012-2024
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2024
22. Production, In Value Terms, 2012–2024
23. Imports, In Physical Terms, 2012–2024
24. Imports, In Value Terms, 2012–2024
25. Imports, In Physical Terms, By Country, 2024
26. Imports, In Physical Terms, By Country, 2012–2024
27. Imports, In Value Terms, By Country, 2012–2024
28. Import Prices, By Country Of Origin, 2012–2024
29. Exports, In Physical Terms, 2012–2024
30. Exports, In Value Terms, 2012–2024
31. Exports, In Physical Terms, By Country, 2024
32. Exports, In Physical Terms, By Country, 2012–2024
33. Exports, In Value Terms, By Country, 2012–2024
34. Export Prices, By Country Of Destination, 2012–2024