Silver Jewelry Price in the Philippines - 2022
Contents:
- Silver Jewelry Price in the Philippines (FOB) - 2022
- Silver Jewelry Price in the Philippines (CIF) - 2022
- Silver Jewelry Exports in the Philippines
- Silver Jewelry Imports in the Philippines
Silver Jewelry Price in the Philippines (FOB) - 2022
The average silver jewelry export price stood at $2,021,887 per ton in 2022, surging by 8.3% against the previous year. Overall, the export price posted a notable increase. The growth pace was the most rapid in 2018 an increase of 303% against the previous year. The export price peaked in 2022 and is likely to see gradual growth in the immediate term.
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 Hong Kong SAR ($3,312,016 per ton), while the average price for exports to Japan ($250,430 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 Finland (+24.3%), while the prices for the other major destinations experienced more modest paces of growth.
Silver Jewelry Price in the Philippines (CIF) - 2022
In 2022, the average silver jewelry import price amounted to $1,961,387 per ton, growing by 9.2% against the previous year. In general, the import price enjoyed strong growth. The most prominent rate of growth was recorded in 2013 when the average import price increased by 1,046% against the previous year. As a result, import price reached the peak level of $3,758 per kg. From 2014 to 2022, the average import prices failed to regain momentum.
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 ($2,806,996 per ton), while the price for the United Arab Emirates ($666,667 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+93.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Silver Jewelry Exports in the Philippines
Silver jewelry exports from the Philippines rose notably to 1.9 tons in 2022, surging by 8.5% against the previous year's figure. Over the period under review, exports, however, showed a deep downturn. The pace of growth was the most pronounced in 2021 with an increase of 50%.
In value terms, silver jewelry exports skyrocketed to $3.9M in 2022. In general, exports, however, continue to indicate a abrupt setback. The most prominent rate of growth was recorded in 2021 with an increase of 62% against the previous year.
| Export of Silver Jewelry in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 2,830 | 867 | 1,840 | 2,100 | -9.5% |
| France | 300 | 329 | 352 | 604 | 26.3% |
| Japan | 737 | 553 | 550 | 603 | -6.5% |
| Hong Kong SAR | 20.3 | 0.6 | 24.6 | 209 | 117.5% |
| United Kingdom | 251 | 136 | 102 | 179 | -10.7% |
| Italy | 1,333 | 34.2 | 251 | 112 | -56.2% |
| Singapore | 0.5 | 2.1 | 30.2 | 38.2 | 324.3% |
| Germany | 74.1 | 35.5 | 55.3 | 3.1 | -65.3% |
| Others | 221 | 71.9 | 83.9 | 16.8 | -57.6% |
| Total | 5,766 | 2,030 | 3,289 | 3,865 | -12.5% |
Top Export Markets for Silver Jewelry from the Philippines in 2022:
- Japan (2409.0 kg)
- United States (784.0 kg)
- France (190.0 kg)
- Singapore (141.0 kg)
- United Kingdom (66.0 kg)
- Hong Kong SAR (63.0 kg)
- Italy (34.0 kg)
- Germany (8.0 kg)
Silver Jewelry Imports in the Philippines
In 2022, overseas purchases of silver jewelry decreased by -14.2% to 1.7 tons, falling for the second consecutive year after two years of growth. Over the period under review, imports showed a abrupt downturn. The most prominent rate of growth was recorded in 2020 with an increase of 184%. As a result, imports reached the peak of 7.8 tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
In value terms, silver jewelry imports shrank to $3.3M in 2022. Overall, imports continue to indicate a abrupt downturn. The growth pace was the most rapid in 2020 when imports increased by 211% against the previous year. As a result, imports attained the peak of $13M. From 2021 to 2022, the growth of imports failed to regain momentum.
| Import of Silver Jewelry in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Italy | 1,127 | 714 | 1,664 | 2,019 | 21.5% |
| France | 205 | 88.8 | 619 | 719 | 51.9% |
| Thailand | 1,129 | 101 | 123 | 146 | -49.4% |
| India | N/A | N/A | 29.5 | 97.9 | 231.9% |
| Spain | N/A | 11.0 | 157 | 68.7 | 149.9% |
| Turkey | N/A | N/A | 1.0 | 34.0 | 3300.0% |
| Singapore | 1,276 | 1,233 | 635 | 33.3 | -70.3% |
| Others | 387 | 10,692 | 268 | 158 | -25.8% |
| Total | 4,125 | 12,840 | 3,496 | 3,276 | -7.4% |
Top Suppliers of Silver Jewelry to the Philippines in 2022:
- Italy (756.0 kg)
- France (256.0 kg)
- India (111.0 kg)
- Thailand (60.0 kg)
- Spain (40.0 kg)
- Turkey (34.0 kg)
- Singapore (13.0 kg)
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