Silver Jewelry Price in Saudi Arabia - 2021
Contents:
- Silver Jewelry Price in Saudi Arabia (CIF) - 2022
- Silver Jewelry Price in Saudi Arabia (FOB) - 2022
- Silver Jewelry Imports in Saudi Arabia
- Silver Jewelry Exports in Saudi Arabia
Silver Jewelry Price in Saudi Arabia (CIF) - 2022
The average silver jewelry import price stood at $777,554 per ton in 2021, surging by 7.3% against the previous year. Overall, the import price showed slight growth. The pace of growth appeared the most rapid in 2019 an increase of 254%. Over the period under review, average import prices hit record highs in 2021 and is likely to continue growth in years to come.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($2,007,676 per ton), while the price for Hong Kong SAR ($437,201 per ton) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+12.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Silver Jewelry Price in Saudi Arabia (FOB) - 2022
The average silver jewelry export price stood at $1,655,395 per ton in 2022, with a decrease of -52.2% against the previous year. Overall, the export price, however, showed a remarkable increase. The pace of growth appeared the most rapid in 2019 an increase of 334% against the previous year. Over the period under review, the average export prices hit record highs at $3,465,564 per ton in 2021, and then dropped sharply in the following year.
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 Italy ($5,403,294 per ton), while the average price for exports to Belgium ($49,814 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 Bahrain (+64.5%), while the prices for the other major destinations experienced more modest paces of growth.
Silver Jewelry Imports in Saudi Arabia
Silver jewelry imports into Saudi Arabia expanded significantly to 30 tons in 2021, increasing by 5.9% on 2020 figures. In general, imports, however, faced a dramatic contraction.
In value terms, silver jewelry imports expanded notably to $23M in 2021. Overall, imports, however, showed a significant contraction.
| Import of Silver Jewelry in Saudi Arabia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | CAGR, 2019-2021 | |
| China | 13.3 | 7.5 | 10.4 | -11.6% | |
| France | 0.5 | 0.8 | 3.4 | 160.8% | |
| Italy | 2.3 | 3.8 | 2.2 | -2.2% | |
| Thailand | 3.5 | 1.0 | 2.1 | -22.5% | |
| Germany | 1.7 | 0.9 | 1.8 | 2.9% | |
| India | N/A | 0.3 | 0.7 | 133.3% | |
| Hong Kong SAR | 0.3 | N/A | 0.4 | 15.5% | |
| United Arab Emirates | 0.3 | N/A | N/A | 0% | |
| Turkey | 9.4 | 2.1 | N/A | -77.7% | |
| Others | 6.1 | 3.8 | 2.0 | -42.7% | |
| Total | 37.4 | 20.2 | 23.0 | -21.6% | |
Top Suppliers of Silver Jewelry to Saudi Arabia in 2022:
- China (16.0 tons)
- Italy (10.5 tons)
- Thailand (1.5 tons)
- Germany (0.9 tons)
- Hong Kong SAR (0.9 tons)
- France (0.6 tons)
- India (0.5 tons)
Silver Jewelry Exports in Saudi Arabia
Silver jewelry exports from Saudi Arabia skyrocketed to 494 kg in 2022, rising by 32% compared with 2021. Over the period under review, exports enjoyed strong growth. The most prominent rate of growth was recorded in 2021 with an increase of 72% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.
In value terms, silver jewelry exports declined notably to $818K in 2022. In general, exports posted prominent growth. The most prominent rate of growth was recorded in 2021 with an increase of 282%. As a result, the exports attained the peak of $1.3M, and then declined significantly in the following year.
| Export of Silver Jewelry in Saudi Arabia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 0.5 | 0.5 | 3.5 | 176 | 606.1% |
| Switzerland | 0.5 | 0.4 | 23.5 | 134 | 544.7% |
| Italy | 25.3 | 4.2 | N/A | 91.9 | 53.7% |
| Bahrain | N/A | 3.5 | 17.9 | 26.6 | 175.7% |
| Turkey | 72.6 | N/A | 62.7 | 17.6 | -37.6% |
| Canada | N/A | N/A | 0.5 | 8.9 | 1680.0% |
| Belgium | 0.2 | N/A | N/A | 3.5 | 159.6% |
| Germany | N/A | 115 | 0.9 | 2.6 | -85.0% |
| Hong Kong SAR | 110 | 72.6 | 0.1 | N/A | -97.0% |
| Kenya | N/A | N/A | 0.1 | N/A | 0% |
| United States | N/A | 3.6 | 12.8 | N/A | 255.6% |
| United Arab Emirates | 26.4 | 3.3 | 30.5 | N/A | 7.5% |
| Others | 378 | 136 | 1,144 | 357 | -1.9% |
| Total | 613 | 339 | 1,296 | 818 | 10.1% |
Top Export Markets for Silver Jewelry from Saudi Arabia in 2022:
- Netherlands (152.0 kg)
- Belgium (70.0 kg)
- Switzerland (59.0 kg)
- Canada (27.0 kg)
- Italy (17.0 kg)
- Turkey (16.0 kg)
- Bahrain (6.0 kg)
- Germany (1.0 kg)
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