Turkey: Platinum Market 2025

Platinum Market Size in Turkey

The Turkish platinum market dropped to $X in 2021, declining by -5.4% against the previous year. In general, consumption, however, showed a noticeable downturn. Platinum consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Platinum Production in Turkey

In value terms, platinum production fell to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a mild downturn. The growth pace was the most rapid in 2015 when the production volume increased by 19% against the previous year. Platinum production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Platinum Exports

Exports from Turkey

In 2021, exports of platinum from Turkey surged to X tons, jumping by 30% against the previous year. In general, exports enjoyed a significant increase. The pace of growth was the most pronounced in 2014 when exports increased by 128%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, platinum exports reduced to $X in 2021. Over the period under review, exports showed buoyant growth. The pace of growth was the most pronounced in 2019 when exports increased by 76% against the previous year. The exports peaked at $X in 2020, and then fell in the following year.

Exports by Country

Switzerland (X tons) was the main destination for platinum exports from Turkey, with a 59% share of total exports. Moreover, platinum exports to Switzerland exceeded the volume sent to the second major destination, Germany (X kg), twofold. Iran (X kg) ranked third in terms of total exports with a 7.7% share.

From 2012 to 2021, the average annual growth rate of volume to Switzerland stood at +41.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+76.8% per year) and Iran (+446.3% per year).

In value terms, Switzerland ($X) remains the key foreign market for platinum exports from Turkey, comprising 77% of total exports. The second position in the ranking was held by Germany ($X), with a 17% share of total exports. It was followed by Italy, with a 2.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Switzerland totaled +40.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+65.7% per year) and Italy (+118.3% per year).

Export Prices by Country

In 2021, the average platinum export price amounted to $X per kg, reducing by -29.5% against the previous year. In general, the export price continues to indicate a abrupt slump. The pace of growth was the most pronounced in 2017 an increase of 74% against the previous year. The export price peaked at $X per kg in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per kg), while the average price for exports to Iran ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Iran (+48.1%), while the prices for the other major destinations experienced mixed trend patterns.

Platinum Imports

Imports into Turkey

In 2021, imports of platinum into Turkey soared to X kg, jumping by 24% compared with the year before. Overall, imports, however, continue to indicate a mild decrease. The growth pace was the most rapid in 2018 when imports increased by 307% against the previous year. Over the period under review, imports reached the maximum at X kg in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, platinum imports surged to $X in 2021. Over the period under review, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 when imports increased by 250%. Imports peaked at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Germany (X kg) constituted the largest supplier of platinum to Turkey, with a 51% share of total imports. Moreover, platinum imports from Germany exceeded the figures recorded by the second-largest supplier, the UK (X kg), fourfold. Switzerland (X kg) ranked third in terms of total imports with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany stood at +49.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (-18.1% per year) and Switzerland (+34.9% per year).

In value terms, Germany ($X) constituted the largest supplier of platinum to Turkey, comprising 45% of total imports. The second position in the ranking was held by Switzerland ($X), with a 16% share of total imports. It was followed by the UK, with a 16% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany stood at +48.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (+71.3% per year) and the UK (-16.2% per year).

Import Prices by Country

The average platinum import price stood at $X per kg in 2021, declining by -5.3% against the previous year. Overall, import price indicated a modest increase from 2012 to 2021: its price increased at an average annual rate of +1.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, platinum import price decreased by -1.3% against 2017 indices. The most prominent rate of growth was recorded in 2016 when the average import price increased by 63%. Over the period under review, average import prices attained the peak figure at $X per kg in 2014; however, from 2015 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 Switzerland ($X per kg), while the price for Italy ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Switzerland (+27.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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