United Arab Emirates: Semi-Manufactured Silver Market 2025

Semi-Manufactured Silver Market Size in the United Arab Emirates

The semi-manufactured silver market in the United Arab Emirates expanded rapidly to $X in 2021, picking up by 8.8% against the previous year. In general, consumption, however, enjoyed a prominent expansion. Semi-manufactured silver consumption peaked in 2021 and is likely to see gradual growth in the immediate term.

Semi-Manufactured Silver Production in the United Arab Emirates

In value terms, semi-manufactured silver production contracted notably to $X in 2021 estimated in export price. Over the period under review, production, however, saw buoyant growth. The most prominent rate of growth was recorded in 2017 with an increase of 259%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Semi-Manufactured Silver Exports

Exports from the United Arab Emirates

Semi-manufactured silver exports from the United Arab Emirates surged to X tons in 2021, increasing by 61% compared with the previous year. In general, exports, however, showed a deep contraction. The pace of growth appeared the most rapid in 2018 when exports increased by 155% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, semi-manufactured silver exports surged to $X in 2021. Overall, exports, however, continue to indicate a dramatic decrease. The most prominent rate of growth was recorded in 2018 when exports increased by 88% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Nepal (X tons) was the main destination for semi-manufactured silver exports from the United Arab Emirates, with a 1,059% share of total exports. Moreover, semi-manufactured silver exports to Nepal exceeded the volume sent to the second major destination, the UK (X tons), threefold. India (X tons) ranked third in terms of total exports with an 83% share.

From 2012 to 2021, the average annual growth rate of volume to Nepal stood at +20.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+36.4% per year) and India (+13.1% per year).

In value terms, Nepal ($X) remains the key foreign market for silver in semi-manufactured forms exports from the United Arab Emirates, comprising 1,364% of total exports. The second position in the ranking was taken by the UK ($X), with a 469% share of total exports. It was followed by India, with a 98% share.

From 2012 to 2021, the average annual growth rate of value to Nepal amounted to +22.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+35.5% per year) and India (+9.9% per year).

Export Prices by Country

In 2021, the average semi-manufactured silver export price amounted to $X per ton, surging by 7.2% against the previous year. Overall, the export price, however, saw a abrupt contraction. The pace of growth was the most pronounced in 2014 when the average export price increased by 23%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the average export prices remained at a somewhat lower figure.

Average prices varied somewhat for the major export markets. In 2021, amid the top suppliers, the highest price was recorded for prices to the UK ($X per ton) and Nepal ($X per ton), while the average price for exports to Oman ($X per ton) and India ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Oman (+8.0%), while the prices for the other major destinations experienced mixed trend patterns.

Semi-Manufactured Silver Imports

Imports into the United Arab Emirates

For the third consecutive year, the United Arab Emirates recorded growth in overseas purchases of silver in semi-manufactured forms, which increased by 59% to X tons in 2021. In general, imports, however, showed a pronounced descent. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, semi-manufactured silver imports expanded to $X in 2021. Overall, imports, however, showed a deep slump. The most prominent rate of growth was recorded in 2020 when imports increased by 46% against the previous year. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Turkey (X tons) constituted the largest supplier of semi-manufactured silver to the United Arab Emirates, with a 27% share of total imports. Moreover, semi-manufactured silver imports from Turkey exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), twofold. The third position in this ranking was held by Italy (X tons), with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from Turkey stood at +171.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-10.4% per year) and Italy (+6.2% per year).

In value terms, the largest semi-manufactured silver suppliers to the United Arab Emirates were Taiwan (Chinese) ($X), India ($X) and Australia ($X), with a combined 58% share of total imports. These countries were followed by the United States, Italy, Turkey, Germany and France, which together accounted for a further 26%.

Turkey, with a CAGR of +84.2%, saw the highest rates of growth with regard to the value of imports, in terms of 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 semi-manufactured silver import price stood at $X per ton in 2021, shrinking by -35.8% against the previous year. Overall, the import price recorded a abrupt decline. The growth pace was the most rapid in 2020 when the average import price increased by 43%. Over the period under review, average import prices hit record highs 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 ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+4.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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