Turkey: Semi-Manufactured Silver Market 2025

Semi-Manufactured Silver Market Size in Turkey

The Turkish semi-manufactured silver market reduced notably to $X in 2021, which is down by -25.9% against the previous year. Overall, consumption, however, continues to indicate a perceptible expansion. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Semi-Manufactured Silver Production in Turkey

In value terms, semi-manufactured silver production reduced to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a resilient increase. The pace of growth was the most pronounced in 2017 when the production volume increased by 108% against the previous year. Semi-manufactured silver production peaked at $X in 2020, and then contracted in the following year.

Semi-Manufactured Silver Exports

Exports from Turkey

In 2021, exports of silver in semi-manufactured forms from Turkey skyrocketed to X tons, rising by 45% against the year before. In general, exports showed a significant expansion. The growth pace was the most rapid in 2016 when exports increased by 2,984% against the previous year. The exports peaked in 2021 and are likely to see steady growth in the immediate term.

In value terms, semi-manufactured silver exports soared to $X in 2021. Over the period under review, exports showed significant growth. The pace of growth was the most pronounced in 2016 with an increase of 3,577%. The exports peaked in 2021 and are expected to retain growth in years to come.

Exports by Country

Germany (X tons), Italy (X tons) and France (X tons) were the main destinations of semi-manufactured silver exports from Turkey, together comprising 89% of total exports.

From 2012 to 2021, the biggest increases were recorded for Italy (with a CAGR of +233.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for semi-manufactured silver exported from Turkey were Germany ($X), Italy ($X) and France ($X), together comprising 88% of total exports.

Italy, with a CAGR of +185.7%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average semi-manufactured silver export price stood at $X per ton in 2021, with an increase of 2.2% against the previous year. In general, the export price, however, showed a abrupt decline. The pace of growth was the most pronounced in 2013 an increase of 109%. Over the period under review, the average export prices attained the maximum at $X per ton in 2016; however, from 2017 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 United Arab Emirates ($X per ton), while the average price for exports to Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+0.9%), while the prices for the other major destinations experienced a decline.

Semi-Manufactured Silver Imports

Imports into Turkey

In 2021, approx. X tons of silver in semi-manufactured forms were imported into Turkey; rising by 44% compared with the previous year. In general, total imports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +5.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +75.7% against 2017 indices. The most prominent rate of growth was recorded in 2013 with an increase of 47%. Imports peaked in 2021 and are likely to see steady growth in the near future.

In value terms, semi-manufactured silver imports soared to $X in 2021. Overall, imports, however, showed a relatively flat trend pattern. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Germany (X tons) constituted the largest supplier of semi-manufactured silver to Turkey, with a 54% share of total imports. Moreover, semi-manufactured silver imports from Germany exceeded the figures recorded by the second-largest supplier, Italy (X tons), twofold. The third position in this ranking was taken by France (X tons), with an 8.5% share.

From 2012 to 2021, the average annual growth rate of volume from Germany stood at +7.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+12.7% per year) and France (+61.0% per year).

In value terms, Germany ($X) constituted the largest supplier of silver in semi-manufactured forms to Turkey, comprising 67% of total imports. The second position in the ranking was held by Italy ($X), with an 18% share of total imports. It was followed by France, with a 7.1% share.

From 2012 to 2021, the average annual growth rate of value from Germany totaled +3.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+10.1% per year) and France (+52.9% per year).

Import Prices by Country

The average semi-manufactured silver import price stood at $X per ton in 2021, with an increase of 27% against the previous year. Overall, the import price, however, saw a deep contraction. The pace of growth was the most pronounced in 2020 an increase of 37%. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was India ($X per ton), while the price for Hungary ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+13.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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