Overview of the Global Market for Articles of Goldsmiths’ or Silversmiths’ Wares of Precious Metals other than Silver

Market Size for Articles of Goldsmiths’ or Silversmiths’ Wares of Precious Metals other than Silver

The global market for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver contracted rapidly to $X in 2022, falling by -37.9% against the previous year. Over the period under review, consumption saw a noticeable shrinkage. As a result, consumption reached the peak level of $X, and then fell sharply in the following year.

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

In value terms, production of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver fell remarkably to $X in 2022 estimated in export price. Over the period under review, production showed a perceptible contraction. The most prominent rate of growth was recorded in 2018 when the production volume increased by 19% against the previous year. Global production peaked at $X in 2021, and then contracted dramatically in the following year.

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

Exports

In 2022, overseas shipments of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver decreased by -35.2% to X tons, falling for the second consecutive year after three years of growth. Over the period under review, exports showed a abrupt contraction. The pace of growth was the most pronounced in 2018 with an increase of 42%. The global exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, exports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver dropped remarkably to $X in 2022. Overall, exports showed a abrupt downturn. The most prominent rate of growth was recorded in 2019 when exports increased by 259% against the previous year. Over the period under review, the global exports of attained the peak figure at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China was the key exporting country with an export of around X tons, which accounted for 31% of total exports. Thailand (X tons) took a 10% share (based on physical terms) of total exports, which put it in second place, followed by Brunei Darussalam (9.3%), Italy (6.4%), South Korea (6.4%) and the UK (5.8%). Spain (X tons), Denmark (X tons), Switzerland (X tons), France (X tons), South Africa (X tons), Taiwan (Chinese) (X tons) and Hong Kong SAR (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to non-silver precious metal goldsmiths ware articles exports from China stood at +4.8%. At the same time, Brunei Darussalam (+71.6%), South Korea (+25.4%), Hong Kong SAR (+20.0%), Spain (+13.4%), Switzerland (+10.2%), France (+5.0%), Denmark (+1.8%) and the UK (+1.0%) displayed positive paces of growth. Moreover, Brunei Darussalam emerged as the fastest-growing exporter exported in the world, with a CAGR of +71.6% from 2012-2022. By contrast, Italy (-6.2%), Thailand (-8.3%), South Africa (-16.0%) and Taiwan (Chinese) (-24.9%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China, Brunei Darussalam, Thailand, South Korea, the UK, Italy, Spain, Denmark, Switzerland, France and Hong Kong SAR increased by +29, +9.3, +7.2, +6.3, +5.2, +4.9, +3, +2.5, +2.4, +2 and +2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest non-silver precious metal goldsmiths ware articles supplier worldwide, comprising 32% of global exports. The second position in the ranking was held by Italy ($X), with a 13% share of global exports. It was followed by Hong Kong SAR, with an 8.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at +16.2%. The remaining exporting countries recorded the following average annual rates of exports growth: Italy (+0.5% per year) and Hong Kong SAR (+13.3% per year).

Export Prices by Country

In 2022, the average export price for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver amounted to $X per kg, increasing by 7.8% against the previous year. In general, the export price posted a notable expansion. The most prominent rate of growth was recorded in 2019 an increase of 199%. The global export price peaked at $X per kg in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per kg), while Brunei Darussalam ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+27.7%), while the other global leaders experienced more modest paces of growth.

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

Imports

In 2022, after two years of decline, there was significant growth in overseas purchases of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver, when their volume increased by 28% to X tons. Overall, imports, however, showed a deep setback. The most prominent rate of growth was recorded in 2015 with an increase of 47% against the previous year. Over the period under review, global imports of reached the maximum at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

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, however, showed a deep reduction. The pace of growth was the most pronounced in 2016 with an increase of 89% against the previous year. Global imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

France (X tons), Singapore (X tons), South Africa (X tons), Switzerland (X tons), Hong Kong SAR (X tons), New Zealand (X tons), the United Arab Emirates (X tons), the UK (X tons), Qatar (X tons), Bahrain (X tons), Norway (X tons) and Slovakia (X tons) represented roughly 66% of total imports in 2022. Malaysia (X tons) took a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for New Zealand (with a CAGR of +51.3%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($X) constitutes the largest market for imported articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver worldwide, comprising 33% of global imports. The second position in the ranking was taken by New Zealand ($X), with a 10% share of global imports. It was followed by the United Arab Emirates, with a 7.1% share.

From 2012 to 2022, the average annual growth rate of value in Hong Kong SAR amounted to +31.0%. The remaining importing countries recorded the following average annual rates of imports growth: New Zealand (+96.0% per year) and the United Arab Emirates (-29.4% per year).

Import Prices by Country

In 2022, the average import price for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver amounted to $X per kg, rising by 23% against the previous year. Over the period under review, the import price posted mild growth. The most prominent rate of growth was recorded in 2016 an increase of 86%. Global import price peaked in 2022 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Hong Kong SAR ($X per kg), while South Africa ($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 (+29.6%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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