Switzerland: 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 Switzerland

In 2022, after four years of decline, there was significant growth in the Swiss market for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver, when its value increased by 46% to $X. In general, consumption, however, saw a abrupt downturn. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

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

In value terms, production of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver declined notably to $X in 2022 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 28% against the previous year. Over the period under review, production of attained the peak level at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

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

Exports from Switzerland

In 2022, approx. X tons of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver were exported from Switzerland; with an increase of 176% on the previous year. Overall, exports continue to indicate a prominent increase. The growth pace was the most rapid in 2018 with an increase of 183% against the previous year. Over the period under review, the exports of hit record highs at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver soared to $X in 2022. Over the period under review, exports showed a prominent expansion. The pace of growth appeared the most rapid in 2013 when exports increased by 227%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X kg), the United States (X kg) and Spain (X kg) were the main destinations of exports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver from Switzerland, together accounting for 59% of total exports.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +6,133.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) emerged as the key foreign market for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver exports from Switzerland, comprising 49% of total exports. The second position in the ranking was taken by France ($X), with a 13% share of total exports. It was followed by China, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at +45.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+42.1% per year) and China (+38.6% 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, reducing by -53.7% against the previous year. Over the period under review, the export price saw a pronounced reduction. The most prominent rate of growth was recorded in 2021 when the average export price increased by 91% against the previous year. The export price peaked at $X per kg in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per kg), while the average price for exports to Spain ($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 Qatar (+13.9%), while the prices for the other major destinations experienced more modest paces of growth.

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

Imports into Switzerland

In 2022, overseas purchases of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver increased by 172% to X tons for the first time since 2017, thus ending a four-year declining trend. In general, imports, however, showed a abrupt decline. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, imports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver surged to $X in 2022. Over the period under review, imports, however, saw a abrupt descent. The pace of growth appeared the most rapid in 2016 when imports increased by 53% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

The United States (X tons), France (X kg) and Italy (X kg) were the main suppliers of imports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver to Switzerland, together comprising 77% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of +109.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, France ($X), Germany ($X) and China ($X) constituted the largest non-silver precious metal goldsmiths ware articles suppliers to Switzerland, with a combined 69% share of total imports. The United States, Italy, Sweden and Australia lagged somewhat behind, together accounting for a further 16%.

The United States, with a CAGR of +79.6%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

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, waning by -52.2% against the previous year. Overall, the import price saw a drastic downturn. The pace of growth was the most pronounced in 2014 an increase of 30% against the previous year. As a result, import price reached the peak level of $X per kg. From 2015 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 China ($X per kg), while the price for Sweden ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+12.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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