Silver Market - Germany Prevails in EU Silver Manufacturing
Basic Precious Metals December 27, 2015
From 2007 to 2014, EU production on the silver market showed a pattern of steady decrease, falling from 11,040 tonnes in 2007 to 8,806 tonnes in 2014. It dropped with a CAGR of -3.2% over the period under review. In value terms, EU silver production reached 3,373 million EUR in 2014, growing by +4.0% annually.
Germany was the largest producer of silver in absolute volumes, with 3,298 tonnes. It was distantly followed by Italy (1,438 tonnes). However, between 2007 and 2014, Germany and Italy showed negative dynamics, falling with -3.7% per year and -7.7% per year respectively.
Germany dominated in EU silver production and ranked third in trade. In 2014, it exported 95% of its total silver output. Of this amount, 34% was supplied to the United Kingdom, where German silver held a 20% share of the country's total imports.
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