Eastern Asia: Silver Market 2024

Silver Market Size in Eastern Asia

The East Asian silver market totaled $X in 2023, standing approx. at the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2012; however, from 2013 to 2023, consumption remained at a lower figure.

Silver Production in Eastern Asia

In value terms, silver production rose remarkably to $X in 2023 estimated in export price. In general, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2022 to 2023, production growth remained at a somewhat lower figure.

Silver Exports

Exports in Eastern Asia

In 2023, exports of silver including silver plated with gold or platinum in Eastern Asia was estimated at X tons, surging by X% against 2022 figures. Total exports indicated a slight expansion from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports decreased by X% against 2021 indices. The growth pace was the most rapid in 2021 with an increase of X%. As a result, the exports reached the peak of X tons. From 2022 to 2023, the growth of the exports failed to regain momentum.

In value terms, silver exports soared to $X in 2023. Overall, exports enjoyed a mild expansion. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2022 to 2023, the growth of the exports remained at a lower figure.

Exports by Country

The shipments of the four major exporters of silver including silver plated with gold or platinum, namely Hong Kong SAR, Japan, China and South Korea, represented more than two-thirds of total export. It was distantly followed by Taiwan (Chinese) (X tons), committing an X% share of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by China (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($X), China ($X) and South Korea ($X) constituted the countries with the highest levels of exports in 2023, together comprising X% of total exports.

Among the main exporting countries, China, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2023, increasing by X% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2022 to 2023, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was China ($X per ton), while Japan ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Japan (X%), while the other leaders experienced mixed trends in the export price figures.

Silver Imports

Imports in Eastern Asia

In 2023, the amount of silver including silver plated with gold or platinum imported in Eastern Asia rose to X tons, picking up by X% on the previous year. Overall, imports, however, recorded a mild decline. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2022 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, silver imports rose slightly to $X in 2023. In general, imports, however, showed a slight contraction. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, imports attained the peak of $X. From 2022 to 2023, the growth of imports failed to regain momentum.

Imports by Country

Hong Kong SAR (X tons) and China (X tons) were the main importers of silver including silver plated with gold or platinum in 2023, accounting for near X% and X% of total imports, respectively. Japan (X tons) took the next position in the ranking, followed by Taiwan (Chinese) (X tons) and South Korea (X tons). All these countries together held near X% share of total imports.

From 2012 to 2023, the biggest increases were recorded for Hong Kong SAR (with a CAGR of X%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, Hong Kong SAR ($X) constitutes the largest market for imported silver including silver plated with gold or platinum in Eastern Asia, comprising X% of total imports. The second position in the ranking was held by China ($X), with a X% share of total imports. It was followed by Japan, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Hong Kong SAR stood at X%. In the other countries, the average annual rates were as follows: China (X% per year) and Japan (X% per year).

Import Prices by Country

In 2023, the import price in Eastern Asia amounted to $X per ton, approximately equating the previous year. In general, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2022 to 2023, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform