Silver Jewelry Price in Switzerland - 2023
Contents:
- Silver Jewelry Price in Switzerland (CIF) - 2022
- Silver Jewelry Price in Switzerland (FOB) - 2023
- Silver Jewelry Imports in Switzerland
- Silver Jewelry Exports in Switzerland
Silver Jewelry Price in Switzerland (CIF) - 2022
The average silver jewelry import price stood at $1,290,829 per ton in 2022, falling by -20.5% against the previous year. Over the period under review, the import price recorded a pronounced reduction. The most prominent rate of growth was recorded in 2018 when the average import price increased by 46% against the previous year. As a result, import price reached the peak level of $3,681 per kg. From 2019 to 2022, the average import prices remained at a lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Thailand ($2,253,669 per ton), while the price for Poland ($133,774 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Silver Jewelry Price in Switzerland (FOB) - 2023
In August 2023, the average silver jewelry export price amounted to $2.4M per ton, with a decrease of -42.3% against the previous month. Over the period under review, the export price saw a noticeable contraction. The most prominent rate of growth was recorded in October 2022 an increase of 93% m-o-m. Over the period under review, the average export prices reached the maximum at $7.1M per ton in May 2023; afterwards, it flattened through to August 2023.
There were significant differences in the average prices for the major foreign markets. In August 2023, the country with the highest price was South Korea ($10.5M per ton), while the average price for exports to India ($801K 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 Hong Kong SAR (+20.8%), while the prices for the other major destinations experienced more modest paces of growth.
Silver Jewelry Imports in Switzerland
For the fourth year in a row, Switzerland recorded growth in supplies from abroad of silver jewelry, which increased by 29% to 94 tons in 2022. Over the period under review, imports saw a significant increase. The growth pace was the most rapid in 2021 with an increase of 102%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the near future.
In value terms, silver jewelry imports expanded to $122M in 2022. The total import value increased at an average annual rate of +9.3% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 38%. Imports peaked in 2022 and are expected to retain growth in the immediate term.
| Import of Silver Jewelry in Switzerland (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Thailand | 23.3 | 22.2 | 24.8 | 30.5 | 9.4% |
| Italy | 30.4 | 24.3 | 39.8 | 26.7 | -4.2% |
| Hong Kong SAR | 1.1 | 0.9 | 6.1 | 21.5 | 169.4% |
| Germany | 13.9 | 15.9 | 18.3 | 13.2 | -1.7% |
| China | 5.9 | 4.3 | 4.8 | 7.5 | 8.3% |
| France | 5.2 | 5.6 | 7.2 | 6.4 | 7.2% |
| India | 3.3 | 2.6 | 3.2 | 3.7 | 3.9% |
| Israel | 1.1 | 1.6 | 2.5 | 1.8 | 17.8% |
| Poland | 0.2 | 0.4 | 0.3 | 0.3 | 14.5% |
| Others | 8.7 | 7.7 | 11.6 | 10.3 | 5.8% |
| Total | 93.2 | 85.6 | 118 | 122 | 9.4% |
Top Suppliers of Silver Jewelry to Switzerland in 2022:
- Hong Kong SAR (30.4 tons)
- Italy (16.1 tons)
- Thailand (13.5 tons)
- Germany (10.6 tons)
- China (6.7 tons)
- France (3.5 tons)
- Poland (2.2 tons)
- India (2.1 tons)
- Israel (1.5 tons)
Silver Jewelry Exports in Switzerland
In 2022, silver jewelry exports from Switzerland declined to 13 tons, waning by -14.4% on the previous year. In general, exports continue to indicate a perceptible descent. The most prominent rate of growth was recorded in 2021 with an increase of 12% against the previous year. As a result, the exports reached the peak of 16 tons, and then shrank in the following year.
In value terms, silver jewelry exports shrank to $61M in 2022. The total export value increased at an average annual rate of +4.4% over the period from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when exports increased by 30% against the previous year. As a result, the exports attained the peak of $70M, and then dropped in the following year.
| Export of Silver Jewelry in Switzerland (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 6.0 | 5.9 | 11.0 | 9.9 | 18.2% |
| United Kingdom | 4.9 | 7.9 | 12.2 | 9.2 | 23.4% |
| Italy | 6.1 | 4.7 | 6.7 | 8.5 | 11.7% |
| South Korea | 4.9 | 3.2 | 5.1 | 7.7 | 16.3% |
| China | 6.9 | 10.8 | 16.5 | 7.3 | 1.9% |
| Germany | 5.7 | 5.8 | 4.6 | 5.4 | -1.8% |
| Hong Kong SAR | 4.5 | 1.8 | 2.0 | 2.4 | -18.9% |
| Qatar | 1.7 | 1.2 | 1.0 | 1.0 | -16.2% |
| France | 0.8 | 0.9 | 1.0 | 0.9 | 4.0% |
| Netherlands | 0.4 | 0.4 | 0.4 | 0.5 | 7.7% |
| Japan | 3.2 | 1.5 | 1.0 | 0.4 | -50.0% |
| Others | 8.3 | 10.1 | 8.5 | 7.4 | -3.8% |
| Total | 53.4 | 54.1 | 70.1 | 60.8 | 4.4% |
Top Export Markets for Silver Jewelry from Switzerland in 2022:
- Germany (3.3 tons)
- United States (2.0 tons)
- United Kingdom (1.5 tons)
- South Korea (1.3 tons)
- China (1.2 tons)
- Italy (1.0 tons)
- France (0.5 tons)
- Hong Kong SAR (0.5 tons)
- Netherlands (0.2 tons)
- Qatar (0.1 tons)
- Japan (0.1 tons)
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