Asia: Silver Market 2022

Silver Market Size in Asia

The Asian silver market declined to $X in 2021, with a decrease of -X% against the previous year. Overall, consumption saw a noticeable curtailment. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Silver Production in Asia

In value terms, silver production reached $X in 2021 estimated in export price. Overall, production saw a mild decline. The most prominent rate of growth was recorded in 2017 with an increase of X%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Silver Exports

Exports in Asia

In 2021, overseas shipments of silver including silver plated with gold or platinum increased by X% to X tons, rising for the second year in a row after two years of decline. Overall, exports enjoyed a prominent expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, silver exports surged to $X in 2021. In general, exports posted a prominent increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China (X tons), Hong Kong SAR (X tons) and Japan (X tons) represented roughly X% of total exports in 2021. South Korea (X tons) held the next position in the ranking, followed by Taiwan (Chinese) (X tons). All these countries together held near X% share of total exports. Thailand (X tons) and Kazakhstan (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Thailand (with a CAGR of +X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest silver supplying countries in Asia were Hong Kong SAR ($X), China ($X) and Japan ($X), with a combined X% share of total exports. South Korea, Taiwan (Chinese), Kazakhstan and Thailand lagged somewhat behind, together accounting for a further X, with a CAGR of +X%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Asia amounted to $X per ton, growing by X% against the previous year. In general, the export price, however, showed a noticeable contraction. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Hong Kong SAR ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+X%), while the other leaders experienced mixed trends in the export price figures.

Silver Imports

Imports in Asia

After two years of decline, supplies from abroad of silver including silver plated with gold or platinum increased by X% to X tons in 2021. The total import volume increased at an average annual rate of +X% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, imports reached the maximum at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, silver imports surged to $X in 2021. The total import value increased at an average annual rate of +X% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Hong Kong SAR (X tons), China (X tons), Japan (X tons) and India (X tons) was the major importer of silver including silver plated with gold or platinum in Asia, achieving X% of total import. It was distantly followed by Taiwan (Chinese) (X tons), Singapore (X tons) and Thailand (X tons), together committing a X% share of total imports.

From 2012 to 2021, the biggest increases were in Singapore (with a CAGR of +X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($X), India ($X) and Japan ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined X% share of total imports. These countries were followed by China, Taiwan (Chinese), Thailand and Singapore, which together accounted for a further X, with a CAGR of +X%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Asia amounted to $X per ton, with an increase of X% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was India ($X per ton), while Singapore ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Market Intelligence Platform

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