Silver Jewelry Price in Russia - 2022

Contents:

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

Silver Jewelry Price in Russia (CIF) - 2022

The average silver jewelry import price stood at $1,011,308 per ton in 2022, declining by -15.5% against the previous year. Overall, the import price continues to indicate a abrupt downturn. The pace of growth was the most pronounced in 2013 when the average import price increased by 11%. As a result, import price reached the peak level of $1,950 per kg. From 2014 to 2022, the average import prices remained at a lower figure.

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 Thailand ($3,193,467 per ton), while the price for Armenia ($366,201 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+3.8%), while the prices for the other major suppliers experienced a decline.

Silver Jewelry Price in Russia (FOB) - 2022

In 2022, the average silver jewelry export price amounted to $303,492 per ton, growing by 15% against the previous year. Over the period under review, export price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, silver jewelry export price decreased by -26.1% against 2020 indices. The most prominent rate of growth was recorded in 2019 an increase of 85% against the previous year. Over the period under review, the average export prices hit record highs at $410,750 per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Kazakhstan ($1,868,441 per ton), while the average price for exports to Belarus ($166,750 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 Kazakhstan (+29.6%), while the prices for the other major destinations experienced mixed trend patterns.

Silver Jewelry Imports in Russia

In 2022, imports of silver jewelry into Russia expanded to 91 tons, growing by 2.2% against 2021 figures. Over the period under review, total imports indicated a prominent expansion from 2019 to 2022: its volume increased at an average annual rate of +7.6% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +67.1% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 63%. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the immediate term.

In value terms, silver jewelry imports shrank to $92M in 2022. Overall, imports, however, saw a pronounced curtailment. The pace of growth appeared the most rapid in 2021 when imports increased by 38% against the previous year. As a result, imports reached the peak of $107M, and then declined in the following year.

Top Suppliers of Silver Jewelry to Russia in 2022:

1. Armenia (55.1 tons)
2. Thailand (15.3 tons)
3. China (9.3 tons)
4. Italy (5.9 tons)
5. Hong Kong SAR (3.7 tons)

Silver Jewelry Exports in Russia

In 2022, the amount of silver jewelry exported from Russia reduced dramatically to 49 tons, waning by -32.2% on the year before. Over the period under review, exports, however, posted a remarkable increase. The most prominent rate of growth was recorded in 2021 with an increase of 176%. As a result, the exports reached the peak of 72 tons, and then contracted remarkably in the following year.

In value terms, silver jewelry exports declined markedly to $15M in 2022. Overall, total exports indicated pronounced growth from 2019 to 2022: its value increased at an average annual rate of +4.3% 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 +38.6% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 77% against the previous year. As a result, the exports reached the peak of $19M, and then shrank markedly in the following year.

Top Export Markets for Silver Jewelry from Russia in 2022:

1. Armenia (25.4 tons)
2. Belarus (22.2 tons)
3. Kazakhstan (0.7 tons)

Source: IndexBox Market Intelligence Platform