EU: Unwrought Silver Market 2024

Unwrought Silver Market Size in the EU

After two years of growth, the EU unwrought silver market decreased by X% to $X in 2023. Over the period under review, consumption, however, posted a notable expansion. Over the period under review, the market reached the maximum level at $X in 2022, and then reduced modestly in the following year.

Unwrought Silver Production in the EU

In value terms, unwrought silver production declined slightly to $X in 2023 estimated in export price. In general, production saw a noticeable contraction. The pace of growth appeared the most rapid in 2020 with an increase of X%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2023, production remained at a lower figure.

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Unwrought Silver Exports

Exports in the EU

In 2023, unwrought silver exports in the European Union fell to X tons, with a decrease of X% against 2022. Over the period under review, exports saw a noticeable decline. The most prominent rate of growth was recorded in 2022 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

In value terms, unwrought silver exports rose markedly to $X in 2023. In general, exports saw a abrupt descent. The most prominent rate of growth was recorded in 2020 with an increase of X%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

Exports by Country

The biggest shipments were from Poland (X tons), Germany (X tons) and Italy (X tons), together recording X% of total export. It was distantly followed by Belgium (X tons) and Sweden (X tons), together making up a X% share of total exports. The following exporters - France (X tons) and Hungary (X tons) - together made up X% of total exports.

From 2012 to 2023, the biggest increases were recorded for Hungary (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 the European Union were Germany ($X), Poland ($X) and Italy ($X), together accounting for X% of total exports. Belgium, Sweden, France and Hungary lagged somewhat behind, together accounting for a further X%.

Hungary, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main exporting countries 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 the European Union stood at $X per ton in 2023, surging by X% against the previous year. Overall, the export price, however, continues to indicate a perceptible contraction. The pace of growth was the most pronounced in 2020 an increase of X%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2023, the export prices stood at a somewhat lower figure.

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

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

Unwrought Silver Imports

Imports in the EU

In 2023, after two years of growth, there was significant decline in overseas purchases of silver, unwrought or in powder form, when their volume decreased by X% to X tons. Total imports indicated a notable 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, imports increased by X% against 2020 indices. The growth pace was the most rapid in 2022 when imports increased by X%. As a result, imports attained the peak of X tons, and then dropped in the following year.

In value terms, unwrought silver imports declined to $X in 2023. Overall, imports recorded a mild downturn. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2023, imports stood at a somewhat lower figure.

Imports by Country

In 2023, Italy (X tons) and Germany (X tons) represented the key importers of silver, unwrought or in powder form in the European Union, together committing X% of total imports. Belgium (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by France (X%), the Czech Republic (X%), Poland (X%), Austria (X%) and Spain (X%).

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

In value terms, Italy ($X), Germany ($X) and France ($X) constituted the countries with the highest levels of imports in 2023, with a combined X% share of total imports. Austria, Spain, Belgium, the Czech Republic and Poland lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, Spain, with a CAGR of X%, saw the highest rates of growth with regard to 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

The import price in the European Union stood at $X per ton in 2023, flattening at the previous year. Overall, the import price, however, recorded a perceptible contraction. The pace of growth was the most pronounced 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 failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Austria ($X per ton), while Poland ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform