Switzerland: Unwrought Silver Market 2024

Unwrought Silver Market Size in Switzerland

After two years of growth, the Swiss unwrought silver market decreased by -26.5% to $X in 2021. Overall, consumption saw a deep setback. Unwrought silver consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Unwrought Silver Production in Switzerland

In value terms, unwrought silver production fell to $X in 2021 estimated in export price. In general, production recorded a perceptible shrinkage. The pace of growth appeared the most rapid in 2020 when the production volume increased by 14%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Unwrought Silver Exports

Exports from Switzerland

In 2021, overseas shipments of silver, unwrought or in powder form were finally on the rise to reach X tons after two years of decline. Overall, total exports indicated temperate growth from 2012 to 2021: its volume increased at an average annual rate of +3.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, unwrought silver exports skyrocketed to $X in 2021. Over the period under review, exports continue to indicate a modest increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for unwrought silver exports from Switzerland, with a 31% share of total exports. Moreover, unwrought silver exports to the United States exceeded the volume sent to the second major destination, Germany (X tons), twofold. The third position in this ranking was held by Turkey (X tons), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States totaled +93.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+20.9% per year) and Turkey (+13.1% per year).

In value terms, the United States ($X) remains the key foreign market for silver, unwrought or in powder form exports from Switzerland, comprising 31% of total exports. The second position in the ranking was taken by Germany ($X), with a 15% share of total exports. It was followed by Turkey, with an 11% share.

From 2012 to 2021, the average annual growth rate of value to the United States stood at +87.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+18.0% per year) and Turkey (+15.6% per year).

Export Prices by Country

The average unwrought silver export price stood at $X per ton in 2021, growing by 26% against the previous year. In general, the export price, however, showed a noticeable reduction. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major overseas markets. In 2021, amid the top suppliers, the highest price was recorded for prices to the UK ($X per ton) and the United States ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) and India ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (+2.2%), while the prices for the other major destinations experienced a decline.

Unwrought Silver Imports

Imports into Switzerland

In 2021, overseas purchases of silver, unwrought or in powder form increased by 81% to X tons, rising for the third consecutive year after two years of decline. Overall, imports, however, recorded a deep setback. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, unwrought silver imports skyrocketed to $X in 2021. In general, imports, however, continue to indicate a abrupt curtailment. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Hong Kong SAR (X tons) constituted the largest supplier of unwrought silver to Switzerland, accounting for a 33% share of total imports. Moreover, unwrought silver imports from Hong Kong SAR exceeded the figures recorded by the second-largest supplier, Argentina (X tons), fourfold. China (X tons) ranked third in terms of total imports with a 7.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Hong Kong SAR totaled +10.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (+3.6% per year) and China (+40.0% per year).

In value terms, Hong Kong SAR ($X) constituted the largest supplier of silver, unwrought or in powder form to Switzerland, comprising 31% of total imports. The second position in the ranking was held by Argentina ($X), with a 14% share of total imports. It was followed by Peru, with a 7.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Hong Kong SAR stood at +7.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (+3.3% per year) and Peru (+13.5% per year).

Import Prices by Country

The average unwrought silver import price stood at $X per ton in 2021, picking up by 11% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the average import price increased by 17% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Argentina ($X per ton), while the price for the UK ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+14.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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