Thailand: 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 Thailand

The Thai market for articles of goldsmiths’ wares of base metal clad with precious metal contracted to $X in 2022, standing approx. at the previous year. Over the period under review, consumption, however, showed a buoyant expansion. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

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

In value terms, production of articles of goldsmiths’ wares of base metal clad with precious metal reduced slightly to $X in 2022 estimated in export price. In general, production, however, continues to indicate buoyant growth. The most prominent rate of growth was recorded in 2017 when the production volume increased by 64%. Production of peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

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

Exports from Thailand

For the third year in a row, Thailand recorded decline in overseas shipments of articles of goldsmiths’ wares of base metal clad with precious metal, which decreased by -2.8% to X kg in 2022. Over the period under review, exports showed a abrupt decrease. The most prominent rate of growth was recorded in 2019 with an increase of 876% against the previous year. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports of remained at a lower figure.

In value terms, exports of articles of goldsmiths’ wares of base metal clad with precious metal expanded notably to $X in 2022. Overall, exports, however, posted a buoyant expansion. The growth pace was the most rapid in 2013 with an increase of 156% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

Vietnam (X kg), Finland (X kg) and the Netherlands (X kg) were the main destinations of exports of articles of goldsmiths’ wares of base metal clad with precious metal from Thailand, with a combined 93% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Finland (with a CAGR of +57.7%), while the other leaders experienced more modest paces of growth.

In value terms, Australia ($X) remains the key foreign market for articles of goldsmiths’ wares of base metal clad with precious metal exports from Thailand, comprising 48% of total exports. The second position in the ranking was taken by Poland ($X), with a 22% share of total exports. It was followed by the UK, with a 13% share.

From 2012 to 2022, the average annual growth rate of value to Australia totaled +10.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+166.8% per year) and the UK (+0.3% per year).

Export Prices by Country

In 2022, the average export price for articles of goldsmiths’ wares of base metal clad with precious metal amounted to $X per kg, growing by 8.6% against the previous year. Overall, the export price enjoyed significant growth. The pace of growth was the most pronounced in 2020 an increase of 464% against the previous year. The export price peaked at $X per kg in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Australia ($X per kg), while the average price for exports to Finland ($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 Poland (+186.2%), while the prices for the other major destinations experienced more modest paces of growth.

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

Imports into Thailand

For the sixth consecutive year, Thailand recorded decline in supplies from abroad of articles of goldsmiths’ wares of base metal clad with precious metal, which decreased by -5.7% to X kg in 2022. In general, imports showed a sharp setback. The growth pace was the most rapid in 2016 with an increase of 245% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of articles of goldsmiths’ wares of base metal clad with precious metal expanded significantly to $X in 2022. Over the period under review, imports showed a dramatic setback. The most prominent rate of growth was recorded in 2016 when imports increased by 125% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Hong Kong SAR (X kg), Malaysia (X kg) and the United States (X kg) were the main suppliers of imports of articles of goldsmiths’ wares of base metal clad with precious metal to Thailand, with a combined 64% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Malaysia (with a CAGR of +36.5%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Hong Kong SAR ($X) constituted the largest supplier of articles of goldsmiths’ wares of base metal clad with precious metal to Thailand, comprising 31% of total imports. The second position in the ranking was taken by France ($X), with a 15% share of total imports. It was followed by the United States, with a 10% share.

From 2012 to 2022, the average annual growth rate of value from Hong Kong SAR totaled +5.6%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+16.8% per year) and the United States (-25.8% per year).

Import Prices by Country

In 2022, the average import price for articles of goldsmiths’ wares of base metal clad with precious metal amounted to $X per ton, increasing by 12% against the previous year. Overall, the import price continues to indicate a buoyant increase. The most prominent rate of growth was recorded in 2021 an increase of 507% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is likely to continue growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+27.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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