U.S.: Market for Articles of Goldsmiths’ or Silversmiths’ Wares of Precious Metals other than Silver 2024

Market Size for Articles of Goldsmiths’ or Silversmiths’ Wares of Precious Metals other than Silver in the U.S.

In 2022, the U.S. market for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver increased by 6.5% to $X, rising for the second year in a row after two years of decline. In general, the total consumption indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +11.7% against 2020 indices. Consumption of peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Production of Articles of Goldsmiths’ or Silversmiths’ Wares of Precious Metals other than Silver in the U.S.

In value terms, production of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver fell to $X in 2022. In general, production, however, showed a noticeable contraction. The pace of growth appeared the most rapid in 2016 with an increase of 27%. Over the period under review, production of hit record highs at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

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

Exports from the U.S.

In 2022, after three years of growth, there was decline in shipments abroad of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver, when their volume decreased by -1% to X kg. In general, exports saw a abrupt setback. The growth pace was the most rapid in 2021 with an increase of 44% against the previous year. The exports peaked at X kg in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver fell to $X in 2022. Over the period under review, exports continue to indicate a abrupt setback. The growth pace was the most rapid in 2021 when exports increased by 53% against the previous year. Over the period under review, the exports of attained the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Hong Kong SAR (X kg), Switzerland (X kg) and Hungary (X kg) were the main destinations of exports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver from the United States, together accounting for 45% of total exports.

From 2012 to 2022, the biggest increases were recorded for Hungary (with a CAGR of +41.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for non-silver precious metal goldsmiths ware articles exported from the United States were Hong Kong SAR ($X), Switzerland ($X) and Canada ($X), with a combined 52% share of total exports.

In terms of the main countries of destination, Switzerland, with a CAGR of +68.0%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

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, with a decrease of -11.3% against the previous year. Overall, the export price continues to indicate a deep contraction. The growth pace was the most rapid in 2016 when the average export price increased by 45% against the previous year. Over the period under review, the average export prices reached the maximum at $X per kg in 2018; however, from 2019 to 2022, 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 Jamaica ($X per kg), while the average price for exports to Hungary ($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 Switzerland (+19.2%), 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 the U.S.

Imports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver into the United States surged to X kg in 2022, increasing by 74% against the previous year's figure. Overall, imports recorded a remarkable increase. The pace of growth was the most pronounced in 2017 when imports increased by 171% against the previous year. Over the period under review, imports of reached the peak figure in 2022 and are likely to see steady growth in the immediate term.

In value terms, imports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver surged to $X in 2022. In general, imports posted a noticeable increase. The most prominent rate of growth was recorded in 2017 when imports increased by 150%. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports of remained at a lower figure.

Imports by Country

Germany (X kg), Turkey (X kg) and China (X kg) were the main suppliers of imports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver to the United States, together comprising 51% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +68.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Denmark ($X) constituted the largest supplier of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver to the United States, comprising 30% of total imports. The second position in the ranking was held by France ($X), with a 12% share of total imports. It was followed by Germany, with an 11% share.

From 2012 to 2022, the average annual growth rate of value from Denmark totaled +62.1%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+16.5% per year) and Germany (+0.2% per year).

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 -32.9% against the previous year. Overall, the import price showed a drastic downturn. The most prominent rate of growth was recorded in 2016 an increase of 24%. The import price peaked at $X per kg in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Denmark (+4.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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