Report Update: Apr 25, 2024

Sri Lanka - Silver Including Silver Plated With Gold Or Platinum - Market Analysis, Forecast, Size, Trends and Insights

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Silver Price in Sri Lanka - 2021

Silver Price in Sri Lanka (CIF) - 2022

The average silver import price stood at $547,160 per ton in 2022, reducing by -7.2% against the previous year. Over the last decade, it increased at an average annual rate of +2.0%. The pace of growth was the most pronounced in 2020 an increase of 28%. Over the period under review, average import prices reached the peak figure at $589,882 per ton in 2021, and then contracted in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($821,921 per ton), while the price for India ($285,361 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+15.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Silver Price in Sri Lanka (FOB) - 2022

In 2022, the average silver export price amounted to $197,618 per ton, increasing by 2,001% against the previous year. In general, the export price, however, continues to indicate a noticeable descent. The export price peaked at $1,003,614 per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($859,087 per ton), while the average price for exports to Maldives stood at $63,879 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+9.4%), while the prices for the other major destinations experienced a decline.

Silver Imports in Sri Lanka

In 2022, approx. 1.3 tons of silver including silver plated with gold or platinum were imported into Sri Lanka; with a decrease of -63.2% against the year before. In general, imports recorded a abrupt downturn. The pace of growth was the most pronounced in 2021 with an increase of 237% against the previous year. As a result, imports attained the peak of 3.5 tons, and then shrank rapidly in the following year.

In value terms, silver imports declined markedly to $711K in 2022. Over the period under review, imports saw a deep slump. The pace of growth was the most pronounced in 2021 with an increase of 266% against the previous year. As a result, imports attained the peak of $2.1M, and then reduced rapidly in the following year.

Import of Silver in Sri Lanka (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Italy	138	30.1	575	457	49.1%
Germany	96.7	77.0	64.8	175	21.9%
Japan	2.4	4.2	11.2	36.5	147.8%
India	0.4	N/A	0.6	29.9	321.2%
Hong Kong SAR	39.0	20.2	26.7	N/A	-17.3%
Thailand	127	157	253	N/A	41.1%
France	34.6	21.7	35.8	N/A	1.7%
United Arab Emirates	519	236	250	N/A	-30.6%
Netherlands	2.3	0.6	4.6	N/A	41.4%
Others	30.3	21.6	860	13.4	-23.8%
Total	989	569	2,082	711	-10.4%

Top Suppliers of Silver to Sri Lanka in 2022:

Italy (871.0 kg)
Germany (263.0 kg)
India (105.0 kg)
Japan (44.0 kg)

Silver Exports in Sri Lanka

After three years of growth, overseas shipments of silver including silver plated with gold or platinum decreased by -94.3% to 3 kg in 2022. Over the period under review, exports, however, posted a strong expansion. The pace of growth was the most pronounced in 2021 when exports increased by 2,550% against the previous year. As a result, the exports attained the peak of 53 kg, and then reduced sharply in the following year.

In value terms, silver exports reached $498 in 2022. Overall, exports showed a relatively flat trend pattern.

Export of Silver in Sri Lanka (USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Maldives	71.0	1.0	N/A	134	23.6%
China	140	N/A	N/A	N/A	0%
Ethiopia	N/A	N/A	3.0	N/A	0%
Italy	N/A	496	491	N/A	-1.0%
Others	294	3.0	2.0	364	7.4%
Total	505	500	496	498	-0.5%

Top Export Markets for Silver from Sri Lanka in 2022:

Maldives (2.0 kg)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the silver market in Sri Lanka. 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:

Sri Lanka

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Sri Lanka
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