United Arab Emirates: 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 United Arab Emirates

The market for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver in the United Arab Emirates contracted modestly to $X in 2022, waning by -3.5% against the previous year. In general, consumption showed a precipitous descent. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Production of Articles of Goldsmiths’ or Silversmiths’ Wares of Precious Metals other than Silver in the United Arab Emirates

In value terms, production of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver shrank to $X in 2022 estimated in export price. Overall, the total production indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +51.7% against 2014 indices. The pace of growth appeared the most rapid in 2019 when the production volume increased by 24%. Production of peaked at $X in 2021, and then dropped modestly in the following year.

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

Exports from the United Arab Emirates

Exports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver from the United Arab Emirates rose markedly to X kg in 2022, picking up by 12% on the previous year's figure. In general, exports, however, saw a precipitous setback. The pace of growth was the most pronounced in 2018 when exports increased by 296% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, exports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver expanded modestly to $X in 2022. Over the period under review, exports, however, saw a abrupt slump. The growth pace was the most rapid in 2018 with an increase of 188%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Denmark (X kg) was the main destination for exports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver from the United Arab Emirates, accounting for a 40% share of total exports. Moreover, exports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver to Denmark exceeded the volume sent to the second major destination, Mauritius (X kg), more than tenfold. Australia (X kg) ranked third in terms of total exports with a 2.3% share.

From 2012 to 2022, the average annual growth rate of volume to Denmark amounted to +25.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mauritius (-0.8% per year) and Australia (+5.2% per year).

In value terms, Denmark ($X) remains the key foreign market for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver exports from the United Arab Emirates, comprising 43% of total exports. The second position in the ranking was taken by Australia ($X), with a 2.5% share of total exports. It was followed by Austria, with a 2% share.

From 2012 to 2022, the average annual growth rate of value to Denmark totaled +37.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+17.5% per year) and Austria (+258.4% per year).

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 -7.1% against the previous year. Over the period under review, the export price, however, continues to indicate a modest increase. The most prominent rate of growth was recorded in 2019 an increase of 67% against the previous year. The export price peaked at $X per kg in 2021, and then contracted in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Switzerland ($X per kg), while the average price for exports to Norway ($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 Angola (+312.6%), 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 United Arab Emirates

In 2022, approx. X tons of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver were imported into the United Arab Emirates; remaining relatively unchanged against the year before. Over the period under review, imports saw a significant contraction. The most prominent rate of growth was recorded in 2016 when imports increased by 436%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, imports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver expanded to $X in 2022. Overall, imports faced a sharp curtailment. The pace of growth was the most pronounced in 2016 when imports increased by 232% against the previous year. Over the period under review, imports of hit record highs at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Switzerland (X kg), India (X kg) and New Zealand (X kg) were the main suppliers of imports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver to the United Arab Emirates, together accounting for 10% of total imports.

From 2012 to 2022, the biggest increases were recorded for New Zealand (with a CAGR of +68.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X), Denmark ($X) and Switzerland ($X) constituted the largest non-silver precious metal goldsmiths ware articles suppliers to the United Arab Emirates, with a combined 14% share of total imports. New Zealand, the UK, Singapore and the United States lagged somewhat behind, together comprising a further 3.9%.

New Zealand, with a CAGR of +93.7%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

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, surging by 4.9% against the previous year. Over the period under review, the import price enjoyed measured growth. The most prominent rate of growth was recorded in 2018 when the average import price increased by 562%. As a result, import price reached the peak level of $X per kg. From 2019 to 2022, the average import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+15.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :