Silver Jewelry Price in Norway - 2023
Contents:
- Silver Jewelry Price in Norway (CIF) - 2022
- Silver Jewelry Price in Norway (FOB) - 2023
- Silver Jewelry Imports in Norway
- Silver Jewelry Exports in Norway
Silver Jewelry Price in Norway (CIF) - 2022
The average silver jewelry import price stood at $791,453 per ton in 2022, which is down by -2.7% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 27%. The import price peaked at $813,271 per ton in 2021, and then dropped in the following year.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($1,022,121 per ton), while the price for Denmark ($525,003 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+4.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Silver Jewelry Price in Norway (FOB) - 2023
The average silver jewelry export price stood at $641K per ton in August 2023, waning by -11.9% against the previous month. Overall, the export price saw a mild shrinkage. The pace of growth was the most pronounced in July 2023 when the average export price increased by 93% month-to-month. The export price peaked at $1.1M per ton in December 2022; however, from January 2023 to August 2023, the export prices remained at a lower figure.
There were significant differences in the average prices for the major foreign markets. In August 2023, the country with the highest price was Poland ($1.5M per ton), while the average price for exports to Denmark ($237K per ton) was amongst the lowest.
From August 2022 to August 2023, the most notable rate of growth in terms of prices was recorded for supplies to Sweden (+2.0%), while the prices for the other major destinations experienced mixed trend patterns.
Silver Jewelry Imports in Norway
In 2022, silver jewelry imports into Norway soared to 46 tons, increasing by 30% on the previous year. The total import volume increased at an average annual rate of +10.0% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, silver jewelry imports surged to $36M in 2022. Over the period under review, total imports indicated a significant increase from 2019 to 2022: its value increased at an average annual rate of +20.9% 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 +76.5% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 30%. Imports peaked in 2022 and are expected to retain growth in the near future.
| Import of Silver Jewelry in Norway (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Thailand | 6.5 | 6.9 | 8.5 | 10.2 | 16.2% |
| China | 3.4 | 3.2 | 5.1 | 9.7 | 41.8% |
| India | 1.8 | 3.5 | 4.3 | 5.6 | 46.0% |
| Denmark | 3.8 | 3.2 | 3.9 | 3.6 | -1.8% |
| Italy | 1.1 | 1.7 | 2.0 | 2.4 | 29.7% |
| Germany | 1.5 | 1.1 | 1.5 | 1.4 | -2.3% |
| Turkey | 0.2 | 0.2 | 0.4 | 0.7 | 51.8% |
| Sweden | 0.5 | 0.5 | 0.8 | 0.5 | 0.0% |
| Hong Kong SAR | 0.5 | 0.5 | 0.8 | 0.4 | -7.2% |
| Others | 1.3 | 1.5 | 1.8 | 2.0 | 15.4% |
| Total | 20.7 | 22.3 | 29.0 | 36.5 | 20.8% |
Top Suppliers of Silver Jewelry to Norway in 2022:
- Thailand (11.4 tons)
- China (11.0 tons)
- Denmark (6.9 tons)
- India (6.8 tons)
- Italy (2.6 tons)
- Germany (1.3 tons)
- Turkey (0.9 tons)
- Sweden (0.6 tons)
- Hong Kong SAR (0.6 tons)
Silver Jewelry Exports in Norway
For the fourth year in a row, Norway recorded growth in overseas shipments of silver jewelry, which increased by 36% to 14 tons in 2022. Over the period under review, exports showed significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 62%. The exports peaked in 2022 and are likely to continue growth in years to come.
In value terms, silver jewelry exports soared to $12M in 2022. Overall, exports enjoyed a significant increase. The pace of growth appeared the most rapid in 2021 with an increase of 101%. The exports peaked in 2022 and are expected to retain growth in the near future.
| Export of Silver Jewelry in Norway (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 1,091 | 1,513 | 2,378 | 3,940 | 53.4% |
| United Kingdom | 406 | 831 | 1,386 | 1,506 | 54.8% |
| United States | 215 | 300 | 671 | 1,163 | 75.5% |
| Sweden | 357 | 348 | 734 | 1,089 | 45.0% |
| Belgium | 4.0 | 19.5 | 578 | 899 | 508.0% |
| Denmark | 156 | 360 | 572 | 553 | 52.5% |
| Germany | 222 | 295 | 399 | 468 | 28.2% |
| Poland | 192 | 435 | 824 | 313 | 17.7% |
| Others | 715 | 678 | 2,042 | 2,079 | 42.7% |
| Total | 3,358 | 4,779 | 9,585 | 12,010 | 52.9% |
Top Export Markets for Silver Jewelry from Norway in 2022:
- Sweden (3.3 tons)
- Japan (2.7 tons)
- United Kingdom (1.6 tons)
- Denmark (1.1 tons)
- Belgium (1.1 tons)
- United States (0.9 tons)
- Germany (0.8 tons)
- Poland (0.3 tons)
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