Silver Jewelry Price in Azerbaijan - 2023

Contents:

1. Silver Jewelry Price in Azerbaijan (CIF) - 2022
2. Silver Jewelry Price in Azerbaijan (FOB) - 2022
3. Silver Jewelry Imports in Azerbaijan
4. Silver Jewelry Exports in Azerbaijan

Silver Jewelry Price in Azerbaijan (CIF) - 2022

In 2022, the average silver jewelry import price amounted to $1,321,167 per ton, therefore, remained relatively stable against the previous year. Over the period under review, the import price recorded a pronounced reduction. The most prominent rate of growth was recorded in 2016 when the average import price increased by 41%. Over the period under review, average import prices reached the peak figure at $2,234,051 per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Thailand ($2,840,481 per ton), while the price for Turkey ($1,052,204 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+28.2%), while the prices for the other major suppliers experienced a decline.

Silver Jewelry Price in Azerbaijan (FOB) - 2022

In 2022, the average silver jewelry export price amounted to $2,946,333 per ton, jumping by 323% against the previous year. Over the period under review, the export price posted a significant increase. The most prominent rate of growth was recorded in 2019 when the average export price increased by 630% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Kazakhstan ($6,821,000 per ton), while the average price for exports to Turkey totaled $1,009,000 per ton.

From 2015 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+6,276.9%), while the prices for the other major destinations experienced more modest paces of growth.

Silver Jewelry Imports in Azerbaijan

In 2022, imports of silver jewelry into Azerbaijan surged to 2.5 tons, rising by 34% compared with the previous year. Over the period under review, imports, however, showed a noticeable slump.

In value terms, silver jewelry imports soared to $3.3M in 2022. In general, total imports indicated a slight expansion from 2019 to 2022: its value increased at an average annual rate of +1.8% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +99.0% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 50% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

Top Suppliers of Silver Jewelry to Azerbaijan in 2022:

1. Turkey (1262.0 kg)
2. China (996.0 kg)
3. Thailand (214.0 kg)

Silver Jewelry Exports in Azerbaijan

In 2022, after two years of decline, there was decline in shipments abroad of silver jewelry, when their volume decreased by 0% to 3 kg. Overall, exports showed a dramatic downturn. The smallest decline of 99.9% was in 2020.

In value terms, silver jewelry exports soared to $8.8K in 2022. Over the period under review, exports showed a prominent increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Top Export Markets for Silver Jewelry from Azerbaijan in 2022:

1. Turkey (2.0 kg)
2. Kazakhstan (1.0 kg)

Source: IndexBox Market Intelligence Platform