Turkey: Colloidal Precious Metals Market 2024

Colloidal Precious Metals Market Size in Turkey

The Turkish colloidal precious metals market rose to $X in 2022, with an increase of X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Colloidal precious metals consumption peaked in 2022 and is expected to retain growth in the immediate term.

Colloidal Precious Metals Production in Turkey

In value terms, colloidal precious metals production rose to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 when the production volume increased by X%. Colloidal precious metals production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Colloidal Precious Metals Exports

Exports from Turkey

In 2022, shipments abroad of colloidal precious metals, compounds and amalgams of precious metals (excluding silver nitrate) increased by X% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, colloidal precious metals exports soared to $X in 2022. In general, exports continue to indicate significant growth. The growth pace was the most rapid in 2021 when exports increased by X%. Over the period under review, the exports reached the peak figure in 2022 and are likely to see gradual growth in the near future.

Exports by Country

The United States (X tons) was the main destination for colloidal precious metals exports from Turkey, accounting for a X% share of total exports. Moreover, colloidal precious metals exports to the United States exceeded the volume sent to the second major destination, Uzbekistan (X tons), threefold. Belarus (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to X.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uzbekistan (X% per year) and Belarus (X% per year).

In value terms, Uzbekistan ($X) remains the key foreign market for colloidal precious metals, compounds and amalgams of precious metals (excluding silver nitrate) exports from Turkey, comprising X% of total exports. The second position in the ranking was held by Iran ($X), with a X% share of total exports. It was followed by China, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Uzbekistan stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iran (X% per year) and China (X% per year).

Export Prices by Country

In 2022, the average colloidal precious metals export price amounted to $X per kg, growing by X% against the previous year. Overall, the export price showed a resilient expansion. The pace of growth appeared the most rapid in 2016 when the average export price increased by X% against the previous year. The export price peaked in 2022 and is expected to retain growth in the immediate term.

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 Uzbekistan ($X per kg), while the average price for exports to the United States ($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 Uzbekistan (X.8%), while the prices for the other major destinations experienced more modest paces of growth.

Colloidal Precious Metals Imports

Imports into Turkey

In 2022, the amount of colloidal precious metals, compounds and amalgams of precious metals (excluding silver nitrate) imported into Turkey surged to X tons, growing by X% against the year before. Over the period under review, imports saw prominent growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, colloidal precious metals imports surged to $X in 2022. In general, imports showed a significant increase. The growth pace was the most rapid in 2021 with an increase of X%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Ireland (X tons) constituted the largest supplier of colloidal precious metals to Turkey, with a X% share of total imports. Moreover, colloidal precious metals imports from Ireland exceeded the figures recorded by the second-largest supplier, Germany (X tons), ninefold. Italy (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Ireland totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Italy (X% per year).

In value terms, Ireland ($X) constituted the largest supplier of colloidal precious metals, compounds and amalgams of precious metals (excluding silver nitrate) to Turkey, comprising X% of total imports. The second position in the ranking was taken by Germany ($X), with a X% share of total imports. It was followed by Italy, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Ireland stood at X.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Italy (X% per year).

Import Prices by Country

In 2022, the average colloidal precious metals import price amounted to $X per kg, with a decrease of X% against the previous year. Over the period under review, the import price, however, recorded a prominent increase. The growth pace was the most rapid in 2019 when the average import price increased by X% against the previous year. The import price peaked at $X per kg in 2021, and then dropped remarkably in the following year.

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

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

Source: IndexBox Platform

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