Belgium: Unwrought Silver Market 2024

Unwrought Silver Market Size in Belgium

In 2023, the Belgian unwrought silver market increased by X% to $X, rising for the second year in a row after four years of decline. Overall, consumption enjoyed a prominent increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Unwrought Silver Production in Belgium

In value terms, unwrought silver production stood at $X in 2023 estimated in export price. Overall, production, however, saw a noticeable contraction. The pace of growth appeared the most rapid in 2020 when the production volume increased by X% against the previous year. Unwrought silver production peaked at $X in 2012; however, from 2013 to 2023, production stood at a somewhat lower figure.

Unwrought Silver Exports

Exports from Belgium

Unwrought silver exports from Belgium dropped rapidly to X tons in 2023, with a decrease of X% against the previous year. Over the period under review, exports continue to indicate a deep slump. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

In value terms, unwrought silver exports shrank significantly to $X in 2023. In general, exports recorded a deep reduction. The pace of growth appeared the most rapid in 2018 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X tons) was the main destination for unwrought silver exports from Belgium, accounting for a X% share of total exports. Moreover, unwrought silver exports to Germany exceeded the volume sent to the second major destination, the United States (X tons), fourfold. France (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2023, the average annual growth rate of volume to Germany totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and France (X% per year).

In value terms, Germany ($X) remains the key foreign market for silver, unwrought or in powder form exports from Belgium, comprising X% of total exports. The second position in the ranking was held by the United States ($X), with a X% share of total exports. It was followed by France, with a X% share.

From 2012 to 2023, the average annual growth rate of value to Germany stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and France (X% per year).

Export Prices by Country

In 2023, the average unwrought silver export price amounted to $X per kg, growing by X% against the previous year. In general, the export price, however, showed a perceptible slump. The pace of growth appeared the most rapid in 2016 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per kg. From 2017 to 2023, the average 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 Israel ($X per kg), while the average price for exports to the UK ($X per kg) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (X%), while the prices for the other major destinations experienced a decline.

Unwrought Silver Imports

Imports into Belgium

In 2023, imports of silver, unwrought or in powder form into Belgium declined to X tons, dropping by X% against 2022. Over the period under review, imports, however, enjoyed moderate growth. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. As a result, imports reached the peak of X tons, and then dropped in the following year.

In value terms, unwrought silver imports skyrocketed to $X in 2023. Overall, imports faced a abrupt downturn. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.

Imports by Country

In 2023, Germany (X tons) constituted the largest supplier of unwrought silver to Belgium, with a X% share of total imports. Moreover, unwrought silver imports from Germany exceeded the figures recorded by the second-largest supplier, the UK (X tons), threefold. The third position in this ranking was held by Italy (X tons), with a X% share.

From 2012 to 2023, the average annual growth rate of volume from Germany totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (X% per year) and Italy (X% per year).

In value terms, the UK ($X), Germany ($X) and Italy ($X) constituted the largest unwrought silver suppliers to Belgium, together accounting for X% of total imports.

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

Import Prices by Country

In 2023, the average unwrought silver import price amounted to $X per ton, picking up by X% against the previous year. Overall, the import price, however, showed a abrupt shrinkage. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform