Turkey: Market for Precious Metal Ores And Concentrates 2024

Market Size for Precious Metal Ores And Concentrates in Turkey

The Turkish market for precious metal ores and concentrates was estimated at $X in 2022, increasing by 3.2% against the previous year. Overall, consumption posted a resilient expansion. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market remained at a lower figure.

Production of Precious Metal Ores And Concentrates in Turkey

In value terms, precious metal ore and concentrate production expanded to $X in 2022 estimated in export price. Over the period under review, production enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2016 with an increase of 82%. As a result, production reached the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

Exports of Precious Metal Ores And Concentrates

Exports from Turkey

In 2022, the amount of precious metal ores and concentrates exported from Turkey rose to X tons, growing by 2.3% on the year before. Overall, total exports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of +10.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -18.0% against 2020 indices. The pace of growth was the most pronounced in 2013 when exports increased by 204% against the previous year. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, precious metal ore and concentrate exports contracted to $X in 2022. In general, exports saw a resilient expansion. The growth pace was the most rapid in 2013 when exports increased by 196% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for precious metal ore and concentrate exports from Turkey, accounting for a 83% share of total exports. Moreover, precious metal ore and concentrate exports to China exceeded the volume sent to the second major destination, Malaysia (X tons), tenfold.

From 2012 to 2022, the average annual growth rate of volume to China stood at +9.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (0.0% per year) and the Netherlands (+81.2% per year).

In value terms, China ($X) remains the key foreign market for precious metal ores and concentrates exports from Turkey, comprising 85% of total exports. The second position in the ranking was taken by Malaysia ($X), with an 8.3% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to China totaled +8.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (0.0% per year) and the Netherlands (+21.8% per year).

Export Prices by Country

In 2022, the average export price for precious metal ores and concentrates amounted to $X per ton, declining by -2.7% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 31% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (-0.4%).

Imports of Precious Metal Ores And Concentrates

Imports into Turkey

In 2022, overseas purchases of precious metal ores and concentrates decreased by -69.4% to X tons, falling for the third year in a row after three years of growth. In general, imports, however, saw significant growth. The most prominent rate of growth was recorded in 2017 with an increase of 13,248% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, precious metal ore and concentrate imports declined sharply to $X in 2022. Overall, imports, however, continue to indicate a significant increase. The growth pace was the most rapid in 2017 with an increase of 25,800%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Bolivia (X tons) was the main supplier of precious metal ore and concentrate to Turkey, accounting for a 93% share of total imports. Moreover, precious metal ore and concentrate imports from Bolivia exceeded the figures recorded by the second-largest supplier, Pakistan (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from Bolivia was relatively modest.

In value terms, Bolivia ($X) constituted the largest supplier of precious metal ores and concentrates to Turkey, comprising 88% of total imports. The second position in the ranking was held by Pakistan ($X), with a 7.8% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Bolivia was relatively modest.

Import Prices by Country

In 2022, the average import price for precious metal ores and concentrates amounted to $X per ton, shrinking by -74% against the previous year. Over the period under review, the import price recorded a drastic downturn. The pace of growth was the most pronounced in 2021 when the average import price increased by 99%. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Pakistan ($X per ton), while the price for Bolivia amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Pakistan (-34.5%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :