Silver Jewelry Price in Singapore - 2022
Contents:
- Silver Jewelry Price in Singapore (CIF) - 2022
- Silver Jewelry Price in Singapore (FOB) - 2022
- Silver Jewelry Imports in Singapore
- Silver Jewelry Exports in Singapore
Silver Jewelry Price in Singapore (CIF) - 2022
In 2022, the average silver jewelry import price amounted to $1,183,789 per ton, dropping by -6.3% against the previous year. Overall, the import price saw a mild descent. The pace of growth was the most pronounced in 2013 when the average import price increased by 21% against the previous year. As a result, import price reached the peak level of $1,719 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 France ($1,896,845 per ton), while the price for Malaysia ($867,192 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+2.9%), while the prices for the other major suppliers experienced a decline.
Silver Jewelry Price in Singapore (FOB) - 2022
In 2022, the average silver jewelry export price amounted to $2,334,409 per ton, picking up by 20% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.2%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($5,890,309 per ton), while the average price for exports to Australia ($797,322 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 the United States (+14.4%), while the prices for the other major destinations experienced more modest paces of growth.
Silver Jewelry Imports in Singapore
In 2022, approx. 27 tons of silver jewelry were imported into Singapore; with a decrease of -23.1% on 2021. In general, imports, however, recorded a remarkable increase. The pace of growth was the most pronounced in 2021 when imports increased by 138%. As a result, imports reached the peak of 35 tons, and then reduced remarkably in the following year.
In value terms, silver jewelry imports fell notably to $32M in 2022. Overall, imports recorded a perceptible decrease. The most prominent rate of growth was recorded in 2021 when imports increased by 82%. As a result, imports attained the peak of $44M, and then declined remarkably in the following year.
| Import of Silver Jewelry in Singapore (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Thailand | 10.8 | 7.9 | 7.6 | 8.5 | -7.7% |
| Italy | 3.2 | 1.4 | 3.3 | 7.1 | 30.4% |
| France | 8.1 | 5.3 | 21.7 | 3.5 | -24.4% |
| United States | 1.6 | 0.9 | 1.2 | 3.3 | 27.3% |
| China | 2.5 | 1.5 | 3.8 | 3.3 | 9.7% |
| India | 1.6 | 0.8 | 1.4 | 1.8 | 4.0% |
| Malaysia | 0.3 | 0.6 | 0.2 | 0.6 | 26.0% |
| Hong Kong SAR | 1.2 | 0.4 | 0.4 | 0.4 | -30.7% |
| Indonesia | 2.4 | 0.1 | 0.1 | 0.1 | -65.3% |
| Vietnam | 0.6 | 4.0 | 2.2 | N/A | 91.5% |
| Others | 1.8 | 1.6 | 2.7 | 3.6 | 26.0% |
| Total | 34.1 | 24.4 | 44.5 | 32.1 | -2.0% |
Top Suppliers of Silver Jewelry to Singapore in 2022:
- Vietnam (undefined tons)
- Thailand (7.7 tons)
- Italy (6.3 tons)
- United States (2.8 tons)
- China (2.7 tons)
- India (2.0 tons)
- France (1.8 tons)
- Malaysia (0.7 tons)
- Hong Kong SAR (0.4 tons)
- Indonesia (0.1 tons)
Silver Jewelry Exports in Singapore
In 2022, shipments abroad of silver jewelry decreased by -28.5% to 5.5 tons, falling for the second consecutive year after two years of growth. In general, exports faced a abrupt descent. The pace of growth appeared the most rapid in 2020 with an increase of 29% against the previous year. As a result, the exports reached the peak of 12 tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
In value terms, silver jewelry exports contracted to $13M in 2022. Overall, exports continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2020 with an increase of 42%. As a result, the exports attained the peak of $22M. From 2021 to 2022, the growth of the exports failed to regain momentum.
| Export of Silver Jewelry in Singapore (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Vietnam | 3.5 | 12.6 | 3.8 | 4.9 | 11.9% |
| Hong Kong SAR | 2.5 | 0.2 | 0.8 | 2.2 | -4.2% |
| Australia | 1.0 | 1.4 | 1.9 | 1.4 | 11.9% |
| United States | 0.2 | N/A | 0.1 | 1.4 | 91.3% |
| Malaysia | 0.5 | 0.8 | 4.4 | 0.6 | 6.3% |
| Japan | 0.6 | 1.0 | 0.8 | 0.6 | 0.0% |
| Thailand | 1.8 | 0.7 | 0.5 | 0.4 | -39.4% |
| Indonesia | 0.4 | 0.2 | 0.1 | 0.3 | -9.1% |
| India | 0.1 | N/A | 0.3 | 0.2 | 26.0% |
| United Arab Emirates | N/A | 0.1 | N/A | 0.1 | 0.0% |
| France | 1.1 | 0.1 | 0.2 | 0.1 | -55.0% |
| South Korea | 1.2 | 3.1 | 0.3 | 0.1 | -56.3% |
| Cambodia | 0.8 | 0.2 | 0.1 | N/A | -64.6% |
| Others | 1.7 | 1.6 | 1.8 | 0.6 | -29.3% |
| Total | 15.4 | 21.8 | 15.1 | 12.9 | -5.7% |
Top Export Markets for Silver Jewelry from Singapore in 2022:
- Australia (1752.0 kg)
- Vietnam (1306.0 kg)
- Malaysia (685.0 kg)
- Hong Kong SAR (405.0 kg)
- Indonesia (242.0 kg)
- United States (230.0 kg)
- Thailand (146.0 kg)
- India (113.0 kg)
- Japan (101.0 kg)
- United Arab Emirates (85.0 kg)
- Cambodia (49.0 kg)
- South Korea (34.0 kg)
- France (18.0 kg)
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