Price for Non-Silver Precious Metal Jewelry in Mexico - 2023
Contents:
- Price for Non-Silver Precious Metal Jewelry in Mexico (CIF) - 2023
- Price for Non-Silver Precious Metal Jewelry in Mexico (FOB) - 2023
- Imports of Non-Silver Precious Metal Jewelry in Mexico
- Exports of Non-Silver Precious Metal Jewelry in Mexico
Price for Non-Silver Precious Metal Jewelry in Mexico (CIF) - 2023
In June 2023, the average non-silver precious metal jewelry import price amounted to $32.9M per ton, waning by -1.9% against the previous month. Overall, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in February 2023 when the average import price increased by 41% month-to-month. The import price peaked at $37.8M per ton in November 2022; afterwards, it flattened through to June 2023.
There were significant differences in the average prices amongst the major supplying countries. In June 2023, the country with the highest price was India ($67.6M per ton), while the price for China ($13.7M per ton) was amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by Indonesia (+1.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Non-Silver Precious Metal Jewelry in Mexico (FOB) - 2023
In June 2023, the average non-silver precious metal jewelry export price amounted to $38.3M per ton, surging by 10% against the previous month. Over the last twelve months, it increased at an average monthly rate of +1.1%. The most prominent rate of growth was recorded in August 2022 an increase of 87% m-o-m. As a result, the export price attained the peak level of $47,864 per kg; afterwards, it flattened through to June 2023.
Prices varied noticeably by the country of destination: the country with the highest price was Canada ($87.1M per ton), while the average price for exports to the United States amounted to $36.9M per ton.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+2.5%).
Imports of Non-Silver Precious Metal Jewelry in Mexico
For the fourth consecutive year, Mexico recorded growth in overseas purchases of non-silver precious metal jewelry, which increased by 17% to 19 tons in 2022. Over the period under review, imports recorded a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 217% against the previous year. Imports peaked in 2022 and are likely to see steady growth in years to come.
In value terms, non-silver precious metal jewelry imports soared to $565M in 2022. In general, imports posted a resilient expansion. The pace of growth was the most pronounced in 2021 with an increase of 112% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.
| Import of Non-Silver Precious Metal Jewelry in Mexico (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Italy | 89.8 | 54.7 | 123 | 159 | 21.0% |
| United States | 144 | 79.9 | 148 | 154 | 2.3% |
| Turkey | 56.8 | 36.2 | 87.3 | 139 | 34.8% |
| Spain | 14.3 | 9.8 | 25.1 | 39.4 | 40.2% |
| China | 5.6 | 2.5 | 7.7 | 15.6 | 40.7% |
| Thailand | 5.4 | 3.5 | 7.2 | 13.9 | 37.0% |
| Others | 32.8 | 16.3 | 32.5 | 44.0 | 10.3% |
| Total | 349 | 203 | 430 | 565 | 17.4% |
Top Suppliers of Non-Silver Precious Metal Jewelry to Mexico in 2022:
- Italy (5.2 tons)
- Turkey (4.8 tons)
- United States (4.1 tons)
- Spain (1.7 tons)
- China (1.6 tons)
- Thailand (0.5 tons)
Exports of Non-Silver Precious Metal Jewelry in Mexico
In 2022, non-silver precious metal jewelry exports from Mexico contracted to 9.4 tons, reducing by -10.7% compared with 2021. Over the period under review, exports, however, saw buoyant growth. The most prominent rate of growth was recorded in 2021 with an increase of 143% against the previous year. As a result, the exports reached the peak of 11 tons, and then contracted in the following year.
In value terms, non-silver precious metal jewelry exports dropped to $335M in 2022. Overall, total exports indicated resilient growth from 2019 to 2022: its value increased at an average annual rate of +12.2% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +71.4% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 81%. As a result, the exports reached the peak of $354M, and then dropped in the following year.
| Export of Non-Silver Precious Metal Jewelry in Mexico (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 208 | 178 | 340 | 324 | 15.9% |
| Canada | 15.4 | 14.7 | 13.5 | 9.7 | -14.3% |
| Others | 13.2 | 2.1 | 0.4 | 0.4 | -68.8% |
| Total | 237 | 195 | 354 | 335 | 12.2% |
Top Export Markets for Non-Silver Precious Metal Jewelry from Mexico in 2022:
- United States (9.3 tons)
- Canada (0.1 tons)
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