Canada: Silver Market 2022

Silver Market Size in Canada

In 2021, the Canadian silver market increased by X% to $X, rising for the third year in a row after three years of decline. In general, consumption saw a strong expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Silver Production in Canada

In value terms, silver production stood at $X in 2021 estimated in export price. Overall, production recorded a abrupt downturn. The pace of growth was the most pronounced in 2015 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 2021, production stood at a somewhat lower figure.

Silver Exports

Exports from Canada

For the sixth year in a row, Canada recorded decline in overseas shipments of silver including silver plated with gold or platinum, which decreased by -X% to X tons in 2021. Overall, exports showed a abrupt slump. The most prominent rate of growth was recorded in 2015 with an increase of X%. As a result, the exports attained the peak of X tons. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, silver exports reduced to $X in 2021. Over the period under review, exports recorded a abrupt decrease. The pace of growth appeared the most rapid in 2015 when exports increased by X%. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for silver exports from Canada, with a X% share of total exports. Moreover, silver exports to the United States exceeded the volume sent to the second major destination, Poland (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States totaled -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+X% per year) and Germany (+X% per year).

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

From 2012 to 2021, the average annual growth rate of value to the United States stood at -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+X% per year) and Poland (+X% per year).

Export Prices by Country

In 2021, the average silver export price amounted to $X per ton, surging by X% against the previous year. Over the period under review, the export price, however, saw a mild curtailment. The most prominent rate of growth was recorded in 2020 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was the United States ($X per ton), while the average price for exports to Poland ($X per ton) was amongst the lowest.

From 2012 to 2021, 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 Canada

In 2021, supplies from abroad of silver including silver plated with gold or platinum increased by X% to X tons, rising for the third year in a row after two years of decline. Overall, imports enjoyed buoyant growth. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, silver imports soared to $X in 2021. In general, imports recorded a strong expansion. The most prominent rate of growth was recorded in 2020 with an increase of X%. Imports peaked in 2021 and are likely to see steady growth in the immediate term.

Imports by Country

In 2021, the United States (X tons) constituted the largest silver supplier to Canada, accounting for a X% share of total imports. Moreover, silver imports from the United States exceeded the figures recorded by the second-largest supplier, the UK (X tons), threefold. Taiwan (Chinese) (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+X% per year) and Taiwan (Chinese) (+X% per year).

In value terms, the United States ($X) constituted the largest supplier of silver to Canada, comprising X% of total imports. The second position in the ranking was held by the UK ($X), with a X% share of total imports. It was followed by Kazakhstan, with a X% share.

From 2012 to 2021, the average annual growth rate of value from the United States stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+X% per year) and Kazakhstan (+X% per year).

Import Prices by Country

In 2021, the average silver import price amounted to $X per ton, with an increase of X% against the previous year. In general, the import price, however, showed a perceptible decrease. The growth pace was the most rapid in 2020 an increase of X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, the countries with the highest prices were Germany ($X per ton) and Poland ($X per ton), while the price for Mexico ($X per ton) and Taiwan (Chinese) ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kazakhstan (+X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Market Intelligence Platform

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