Australia: Silver Market 2024

Silver Market Size in Australia

The Australian silver market soared to $X in 2022, growing by X% against the previous year. Over the period under review, consumption showed strong growth. Silver consumption peaked in 2022 and is expected to retain growth in years to come.

Silver Production in Australia

In value terms, silver production fell sharply to $X in 2022 estimated in export price. Over the period under review, production showed a deep setback. The growth pace was the most rapid in 2017 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

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Silver Exports

Exports from Australia

In 2022, shipments abroad of silver including silver plated with gold or platinum decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports continue to indicate a drastic downturn. The pace of growth appeared the most rapid in 2017 when exports increased by X%. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, silver exports fell sharply to $X in 2022. Overall, exports recorded a deep downturn. The pace of growth was the most pronounced in 2017 with an increase of X%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

New Zealand (X tons), India (X tons) and the United States (X tons) were the main destinations of silver exports from Australia, together comprising X% of total exports. Singapore, Switzerland, Germany and the UK lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Germany (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, New Zealand ($X), India ($X) and the United States ($X) constituted the largest markets for silver exported from Australia worldwide, with a combined X% share of total exports. Singapore, Switzerland, Germany and the UK lagged somewhat behind, together accounting for a further X%.

Germany, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average silver export price amounted to $X per ton, with a decrease of X% against the previous year. In general, the export price saw a noticeable decline. The pace of growth was the most pronounced in 2021 when the average export price increased by X%. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were the United States ($X per ton) and New Zealand ($X per ton), while the average price for exports to India ($X per ton) and Germany ($X per ton) were 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 (X%), while the prices for the other major destinations experienced a decline.

Silver Imports

Imports into Australia

Silver imports into Australia skyrocketed to X tons in 2022, with an increase of X% on the previous year. Overall, imports posted a resilient increase. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, silver imports soared to $X in 2022. Over the period under review, imports showed a prominent increase. The most prominent rate of growth was recorded in 2020 when imports increased by X%. Imports peaked in 2022 and are likely to see gradual growth in years to come.

Imports by Country

In 2022, Hong Kong SAR (X tons) constituted the largest supplier of silver to Australia, with a X% share of total imports. Moreover, silver imports from Hong Kong SAR exceeded the figures recorded by the second-largest supplier, Poland (X tons), twofold. The third position in this ranking was taken by South Korea (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Hong Kong SAR stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (X% per year) and South Korea (X% per year).

In value terms, Hong Kong SAR ($X), Poland ($X) and South Korea ($X) appeared to be the largest silver suppliers to Australia, together comprising X% of total imports.

Poland, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average silver import price stood at $X per ton in 2022, which is down by X% against the previous year. Overall, the import price showed a pronounced shrinkage. The most prominent rate of growth was recorded in 2020 an increase of X%. Over the period under review, average import prices reached the peak figure at $X,980 per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Poland ($X per ton) and Indonesia ($X per ton), while the price for Papua New Guinea ($X per ton) and Switzerland ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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