Uzbekistan: 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 Uzbekistan

In 2022, the Uzbek market for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver decreased by 99.9% to less than $X, falling for the seventh consecutive year after four years of growth. In general, consumption recorded prominent growth. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market failed to regain momentum.

Production of Articles of Goldsmiths’ or Silversmiths’ Wares of Precious Metals other than Silver in Uzbekistan

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. Over the period under review, production faced a deep reduction. Production of peaked at $X in 2021, and then fell in the following year.

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

Exports from Uzbekistan

In 2022, exports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver from Uzbekistan fell sharply to X kg, waning by -50% on the previous year. In general, exports recorded a dramatic decline. The exports peaked at X kg in 2021, and then dropped notably in the following year.

In value terms, exports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver reduced markedly to $X in 2022. Over the period under review, exports continue to indicate a significant curtailment. The exports peaked at $X in 2021, and then contracted markedly in the following year.

Exports by Country

Turkey (X kg) and the United Arab Emirates (X kg) were the main destinations of exports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver from Uzbekistan. Moreover, exports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver in Turkey exceeded the figures recorded by the second-largest exporter, the United Arab Emirates, twofold.

From 2021 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Turkey (with a CAGR of 0.0%).

In value terms, Turkey ($X) emerged as the key foreign market for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver exports from Uzbekistan, comprising 68% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 32% share of total exports.

From 2021 to 2022, the average annual rate of growth in terms of value to Turkey totaled -9.1%.

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 -4.3% against the previous year. Over the period under review, the export price recorded a perceptible setback. The export price peaked at $X per kg in 2021, and then dropped in the following year.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Turkey ($X per kg), while the average price for exports to the United Arab Emirates amounted to $X per kg.

From 2021 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (-4.7%).

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

Imports into Uzbekistan

In 2021, purchases abroad of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver increased by 25% to X kg, rising for the second year in a row after two years of decline. Over the period under review, imports continue to indicate a prominent increase. The pace of growth was the most pronounced in 2015 with an increase of 125%. As a result, imports attained the peak of X kg. From 2016 to 2021, the growth of imports of remained at a lower figure.

In value terms, imports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver reached $X in 2021. Overall, imports recorded a prominent expansion. The pace of growth appeared the most rapid in 2015 with an increase of 200% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2021, the growth of imports of remained at a lower figure.

Imports by Country

In 2021, Germany (X kg) was the main supplier of non-silver precious metal goldsmiths ware articles to Uzbekistan, with a approx. 100% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from Germany amounted to +10.7%.

In value terms, Germany ($X) constituted the largest supplier of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver to Uzbekistan.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany amounted to +16.6%.

Import Prices by Country

In 2021, the average import price for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver amounted to $X per kg, dropping by -18.5% against the previous year. Over the period under review, import price indicated a buoyant increase from 2012 to 2021: its price increased at an average annual rate of +5.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, import price for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver decreased by -21.4% against 2019 indices. The most prominent rate of growth was recorded in 2013 an increase of 73% against the previous year. Over the period under review, average import prices reached the peak figure at $X per kg in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for Germany.

From 2012 to 2021, the rate of growth in terms of prices for Germany amounted to +5.3% per year.

Source: IndexBox Platform

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