Silver Jewelry Price in India - 2023
Contents:
- Silver Jewelry Price in India (FOB) - 2022
- Silver Jewelry Price in India (CIF) - 2023
- Silver Jewelry Exports in India
- Silver Jewelry Imports in India
Silver Jewelry Price in India (FOB) - 2022
In 2022, the average silver jewelry export price amounted to $7,481,546 per ton, waning by -27.9% against the previous year. In general, the export price, however, posted a resilient increase. The most prominent rate of growth was recorded in 2015 when the average export price increased by 156%. The export price peaked at $12,762,825 per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong SAR ($12,567,159 per ton), while the average price for exports to Thailand ($1,009,729 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+10.2%), while the prices for the other major destinations experienced more modest paces of growth.
Silver Jewelry Price in India (CIF) - 2023
In July 2023, the average silver jewelry import price amounted to $1.2M per ton, with an increase of 6.2% against the previous month. Over the period under review, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in January 2023 when the average import price increased by 22% month-to-month. As a result, import price attained the peak level of $1,399 per kg; afterwards, it flattened through to July 2023.
Prices varied noticeably by the country of origin: the country with the highest price was the United States ($4.8M per ton), while the price for China ($748K per ton) was amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Thailand (+1.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Silver Jewelry Exports in India
In 2022, the amount of silver jewelry exported from India soared to 413 tons, with an increase of 102% against 2021 figures. In general, exports posted a strong expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, silver jewelry exports skyrocketed to $3.1B in 2022. Over the period under review, exports posted significant growth. The pace of growth was the most pronounced in 2020 when exports increased by 67%. The exports peaked in 2022 and are likely to see steady growth in years to come.
| Export of Silver Jewelry in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Hong Kong SAR | 668 | 1,538 | 1,500 | 2,507 | 55.4% |
| United States | 320 | 274 | 400 | 352 | 3.2% |
| United Kingdom | 53.6 | 42.7 | 69.1 | 63.8 | 6.0% |
| Germany | 15.4 | 15.9 | 25.9 | 24.6 | 16.9% |
| Thailand | 9.9 | 6.8 | 14.8 | 12.8 | 8.9% |
| Australia | 12.5 | 11.2 | 14.0 | 12.2 | -0.8% |
| Italy | 10.5 | 7.4 | 8.7 | 12.0 | 4.6% |
| Others | 97.9 | 83.0 | 90.1 | 102 | 1.4% |
| Total | 1,188 | 1,979 | 2,122 | 3,086 | 37.5% |
Top Export Markets for Silver Jewelry from India in 2022:
- Hong Kong SAR (199.5 tons)
- United States (107.0 tons)
- United Kingdom (22.4 tons)
- Germany (14.4 tons)
- Thailand (12.6 tons)
- Italy (10.0 tons)
- Australia (7.0 tons)
Silver Jewelry Imports in India
In 2022, the amount of silver jewelry imported into India soared to 115 tons, rising by 132% compared with the year before. Over the period under review, imports recorded a strong increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, silver jewelry imports soared to $140M in 2022. In general, imports enjoyed significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Silver Jewelry in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Thailand | 31.4 | 9.5 | 28.8 | 97.6 | 45.9% |
| Italy | 11.5 | 8.9 | 15.3 | 16.2 | 12.1% |
| United States | 14.5 | 9.0 | 12.1 | 12.8 | -4.1% |
| China | 3.1 | 2.0 | 3.9 | 5.2 | 18.8% |
| Hong Kong SAR | 8.6 | 4.4 | 3.4 | 2.4 | -34.7% |
| Others | 6.2 | 9.6 | 4.5 | 5.7 | -2.8% |
| Total | 75.3 | 43.5 | 68.0 | 140 | 23.0% |
Top Suppliers of Silver Jewelry to India in 2022:
- Thailand (83.9 tons)
- Italy (15.7 tons)
- China (7.2 tons)
- United States (3.5 tons)
- Hong Kong SAR (1.4 tons)
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