Turkey: Market for Articles of Goldsmiths’ or Silversmiths’ Wares of Precious Metals other than Silver 2025

Market Size for Articles of Goldsmiths’ or Silversmiths’ Wares of Precious Metals other than Silver in Turkey

In 2022, the Turkish market for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver increased by 40% to $X, rising for the fourth consecutive year after two years of decline. Overall, consumption showed a mild expansion. Consumption of peaked in 2022 and is likely to see gradual growth in the immediate term.

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

In value terms, production of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver totaled less than $X in 2022 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern.

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

Exports from Turkey

In 2022, shipments abroad of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver decreased by -90.1% to X kg, falling for the third consecutive year after three years of growth. Overall, exports saw a abrupt contraction. The pace of growth was the most pronounced in 2019 when exports increased by 111% against the previous year. As a result, the exports reached 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’ or silversmiths’ wares of precious metals other than silver reduced markedly to $X in 2022. In general, exports recorded a sharp descent. The most prominent rate of growth was recorded in 2019 when exports increased by 194%. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

Iran (X kg), the United States (X kg) and Canada (X kg) were the main destinations of exports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver from Turkey, together accounting for 46% of total exports. Albania, Guatemala, Australia, Bosnia and Herzegovina, Greece, the Czech Republic, Denmark, Austria, Germany and France lagged somewhat behind, together accounting for a further 31%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Albania (with a CAGR of +41.4%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) emerged as the key foreign market for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver exports from Turkey, comprising 80% of total exports. The second position in the ranking was held by Canada ($X), with a 4.7% share of total exports. It was followed by Guatemala, with a 2.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to -17.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+75.4% per year) and Guatemala (0.0% per year).

Export Prices by Country

The average export price for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver stood at $X per kg in 2022, declining by -40.2% against the previous year. Over the period under review, the export price recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 when the average export price increased by 71%. The export price peaked at $X per kg in 2012; however, from 2013 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 the United States ($X per kg), while the average price for exports to Denmark ($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 Albania (+857.9%), 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 Turkey

In 2022, overseas purchases of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver increased by 655% to X kg, rising for the second year in a row after two years of decline. In general, imports continue to indicate a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, imports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver dropped notably to $X in 2022. Overall, imports, however, showed a deep slump. The pace of growth was the most pronounced in 2013 when imports increased by 448%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports of failed to regain momentum.

Imports by Country

In 2022, France (X kg) constituted the largest supplier of non-silver precious metal goldsmiths ware articles to Turkey, with a 85% share of total imports. Moreover, imports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver from France exceeded the figures recorded by the second-largest supplier, Italy (X kg), sixfold.

From 2012 to 2022, the average annual growth rate of volume from France amounted to +75.0%.

In value terms, France ($X) constituted the largest supplier of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver to Turkey, comprising 82% of total imports. The second position in the ranking was taken by Italy ($X), with a 14% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from France stood at +94.4%.

Import Prices by Country

The average import price for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver stood at $X per kg in 2022, which is down by -94.1% against the previous year. In general, the import price recorded a sharp descent. The growth pace was the most rapid in 2018 an increase of 342%. As a result, import price reached the peak level of $X per kg. From 2019 to 2022, the average import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per kg), while the price for France amounted to $X per kg.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+11.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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