Hong Kong SAR, China: Semi-Manufactured Silver Market 2024

Semi-Manufactured Silver Market Size in Hong Kong SAR, China

The Hong Kong semi-manufactured silver market reduced slightly to $X in 2022, almost unchanged from the previous year. Overall, consumption continues to indicate a perceptible slump. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Semi-Manufactured Silver Production in Hong Kong SAR, China

In value terms, semi-manufactured silver production reduced modestly to $X in 2022 estimated in export price. In general, production continues to indicate a perceptible downturn. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Semi-Manufactured Silver Exports

Exports from Hong Kong SAR, China

In 2022, the amount of silver in semi-manufactured forms exported from Hong Kong SAR expanded remarkably to X tons, increasing by X% against the previous year. In general, exports, however, saw a deep slump. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, semi-manufactured silver exports skyrocketed to $X in 2022. Over the period under review, exports, however, showed a abrupt setback. The growth pace was the most rapid in 2014 with an increase of X%. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons) was the main destination for semi-manufactured silver exports from Hong Kong SAR, with a X% share of total exports. Moreover, semi-manufactured silver exports to China exceeded the volume sent to the second major destination, Taiwan (Chinese) (X tons), more than tenfold. The United States (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to China amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (X% per year) and the United States (X% per year).

In value terms, China ($X) remains the key foreign market for silver in semi-manufactured forms exports from Hong Kong SAR, comprising X% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a X% share of total exports. It was followed by the United States, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (X% per year) and the United States (X% per year).

Export Prices by Country

In 2022, the average semi-manufactured silver export price amounted to $X per ton, with an increase of X% against the previous year. In general, the export price recorded a resilient increase. The pace of growth was the most pronounced in 2014 when the average export price increased by X%. Over the period under review, the average export prices hit record highs at $X per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (X%), while the prices for the other major destinations experienced more modest paces of growth.

Semi-Manufactured Silver Imports

Imports into Hong Kong SAR, China

In 2022, purchases abroad of silver in semi-manufactured forms decreased by X% to X tons, falling for the fourth consecutive year after two years of growth. In general, imports saw a deep contraction. The pace of growth was the most pronounced in 2018 when imports increased by X%. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, semi-manufactured silver imports expanded notably to $X in 2022. Overall, imports recorded a abrupt decrease. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Japan (X tons) constituted the largest supplier of semi-manufactured silver to Hong Kong SAR, accounting for a X% share of total imports. Moreover, semi-manufactured silver imports from Japan exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. The United States (X tons) ranked third in terms of total imports with an X% share.

From 2012 to 2022, the average annual growth rate of volume from Japan totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and the United States (X% per year).

In value terms, the largest semi-manufactured silver suppliers to Hong Kong SAR were Japan ($X), the United States ($X) and China ($X), with a combined X% share of total imports. Italy, Taiwan (Chinese), the UK and Australia lagged somewhat behind, together accounting for a further X%.

Australia, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average semi-manufactured silver import price stood at $X per ton in 2022, growing by X% against the previous year. Over the period under review, import price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, semi-manufactured silver import price increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by X%. The import price peaked in 2022 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for the UK ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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