Eastern Asia: Unwrought Silver Market 2024

Unwrought Silver Market Size in Eastern Asia

The East Asian unwrought silver market reduced sharply to $X in 2023, shrinking by X% against the previous year. In general, consumption saw a abrupt shrinkage. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2023, consumption failed to regain momentum.

Unwrought Silver Production in Eastern Asia

In value terms, unwrought silver production rose modestly to $X in 2023 estimated in export price. Overall, production, however, continues to indicate a mild setback. The most prominent rate of growth was recorded in 2020 when the production volume increased by X% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2023, production failed to regain momentum.

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Unwrought Silver Exports

Exports in Eastern Asia

Unwrought silver exports rose sharply to X tons in 2023, with an increase of X% against 2022. Total exports indicated a noticeable increase 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 most prominent rate of growth was recorded in 2021 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2022 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, unwrought silver exports soared to $X in 2023. In general, exports continue to indicate a moderate increase. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2022 to 2023, the growth of the exports remained at a lower figure.

Exports by Country

In 2023, Hong Kong SAR (X tons), distantly followed by China (X tons), Japan (X tons) and South Korea (X tons) represented the key exporters of silver, unwrought or in powder form, together comprising X% of total exports.

From 2012 to 2023, the biggest increases were recorded for China (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest unwrought silver supplying countries in Eastern Asia were Hong Kong SAR ($X), China ($X) and South Korea ($X), together accounting for X% of total exports.

Among the main exporting countries, China, with a CAGR of X%, saw the highest rates of growth with regard to 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

In 2023, the export price in Eastern Asia amounted to $X per ton, rising by X% against the previous year. In general, the export price, however, saw a perceptible decrease. The pace of growth was the most pronounced in 2020 an increase of X%. Over the period under review, the export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2023, the export prices stood at a somewhat lower figure.

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

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

Unwrought Silver Imports

Imports in Eastern Asia

In 2023, approx. X tons of silver, unwrought or in powder form were imported in Eastern Asia; increasing by X% compared with 2022 figures. Total imports indicated a mild expansion from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2017 with an increase of X%. The volume of import peaked at X tons in 2021; however, from 2022 to 2023, imports failed to regain momentum.

In value terms, unwrought silver imports rose slightly to $X in 2023. In general, imports, however, recorded a slight shrinkage. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2022 to 2023, the growth of imports failed to regain momentum.

Imports by Country

In 2023, Hong Kong SAR (X tons) and China (X tons) were the main importers of silver, unwrought or in powder form in Eastern Asia, together comprising X% of total imports. It was distantly followed by Japan (X tons), Taiwan (Chinese) (X tons) and South Korea (X tons), together achieving a 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 ($X) constitutes the largest market for imported silver, unwrought or in powder form in Eastern Asia, comprising X% of total imports. The second position in the ranking was taken by China ($X), with a X% share of total imports. It was followed by Japan, with a X% share.

In Hong Kong SAR, unwrought silver imports expanded at an average annual rate of X% over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: China (X% per year) and Japan (X% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2023, declining by X% against the previous year. Over the period under review, the import price saw a pronounced setback. The most prominent rate of growth was recorded in 2021 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2023, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: 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 China (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform