Report Update: May 1, 2024

Hong Kong SAR, China - Silver Including Silver Plated With Gold Or Platinum - Market Analysis, Forecast, Size, Trends and Insights

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Silver Price in Hong Kong SAR - 2023

Silver Price in Hong Kong SAR (FOB) - 2022

In 2022, the average silver export price amounted to $683,905 per ton, with a decrease of -15.4% against the previous year. Over the period under review, the export price saw a perceptible setback. The pace of growth appeared the most rapid in 2020 when the average export price increased by 38% against the previous year. The export price peaked at $875,904 per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($779,215 per ton), while the average price for exports to China ($300,574 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 (-1.0%), while the prices for the other major destinations experienced a decline.

Silver Price in Hong Kong SAR (CIF) - 2023

In June 2023, the average silver import price amounted to $704K per ton, remaining stable against the previous month. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in November 2022 when the average import price increased by 11% month-to-month. The import price peaked at $711K per ton in May 2023, and then dropped slightly in the following month.

There were significant differences in the average prices amongst the major supplying countries. In June 2023, the country with the highest price was Taiwan (Chinese) ($773K per ton), while the price for Japan ($73,055 per ton) was amongst the lowest.

From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by Russia (+0.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Silver Exports in Hong Kong SAR

In 2022, after three years of growth, there was significant decline in shipments abroad of silver including silver plated with gold or platinum, when their volume decreased by -39.1% to 5K tons. In general, exports, however, continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2021 with an increase of 83%. As a result, the exports reached the peak of 8.3K tons, and then declined dramatically in the following year.

In value terms, silver exports shrank significantly to $3.5B in 2022. Over the period under review, exports, however, showed a significant increase. The pace of growth appeared the most rapid in 2021 when exports increased by 122%. As a result, the exports reached the peak of $6.7B, and then plummeted in the following year.

Export of Silver in Hong Kong SAR (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
India	932	540	984	1,618	20.2%
United Kingdom	N/A	1,052	3,159	381	-39.8%
Australia	17.2	408	285	353	173.8%
Taiwan (Chinese)	49.0	166	483	311	85.1%
Thailand	194	211	333	225	5.1%
United States	0.2	175	374	136	779.4%
Japan	119	65.2	196	107	-3.5%
China	161	156	141	69.0	-24.6%
Others	101	245	750	253	35.8%
Total	1,573	3,018	6,705	3,454	30.0%

Top Export Markets for Silver from Hong Kong SAR in 2022:

India (2415.7 tons)
Australia (496.3 tons)
United Kingdom (488.3 tons)
Taiwan (Chinese) (419.1 tons)
Thailand (314.9 tons)
China (229.5 tons)
United States (194.7 tons)
Japan (140.2 tons)

Silver Imports in Hong Kong SAR

Silver imports into Hong Kong SAR contracted to 3.7K tons in 2022, which is down by -10.7% on the year before. In general, imports, however, recorded resilient growth. The most prominent rate of growth was recorded in 2021 with an increase of 85% against the previous year. As a result, imports attained the peak of 4.2K tons, and then dropped in the following year.

In value terms, silver imports declined to $2.4B in 2022. Over the period under review, imports, however, posted significant growth. The pace of growth was the most pronounced in 2021 with an increase of 129% against the previous year. As a result, imports reached the peak of $2.8B, and then shrank in the following year.

Import of Silver in Hong Kong SAR (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	636	735	2,028	2,022	47.0%
Taiwan (Chinese)	6.0	74.4	504	176	208.4%
South Korea	186	172	126	85.1	-22.9%
Japan	99.9	42.1	34.8	29.0	-33.8%
United States	25.8	35.7	35.8	15.9	-14.9%
Others	90.2	185	119	113	7.8%
Total	1,044	1,243	2,848	2,442	32.7%

Top Suppliers of Silver to Hong Kong SAR in 2022:

China (2917.8 tons)
Taiwan (Chinese) (242.3 tons)
Japan (219.7 tons)
South Korea (135.3 tons)
United States (44.3 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the silver market in Hong Kong SAR, China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 24411030 - Silver, unwrought or in powder form (including plated with gold or platinum)
Prodcom 24411050 - Silver, in semi-manufactured forms (including plated with gold or platinum) (excluding unwrought or in powder form)

Country coverage:

Hong Kong SAR

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Hong Kong SAR, China
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023