Iceland: Silver Market 2020

Silver Market Size in Iceland

The revenue of the silver market in Iceland amounted to $X in 2018, going down by -X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, silver consumption continues to indicate an abrupt decline. The growth pace was the most rapid in 2017 with an increase of X% year-to-year. Over the period under review, the silver market attained its maximum level at $X in 2007; however, from 2008 to 2018, consumption stood at a somewhat lower figure.

Silver Exports

Exports from Iceland

Silver exports from Iceland stood at X kg in 2018, growing by X% against the previous year. In general, silver exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2008 when exports increased by X% y-o-y. Iceland exports peaked at X kg in 2009; however, from 2010 to 2018, exports failed to regain their momentum.

In value terms, silver exports amounted to $X in 2018. Overall, silver exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2008 when exports increased by X% against the previous year. Over the period under review, silver exports attained their maximum at $X in 2009; however, from 2010 to 2018, exports stood at a somewhat lower figure.

Exports by Country

In 2018, China, Hong Kong SAR (X tons) and Japan (X tons) represented the largest exporters of silver including silver plated with gold or platinumin the world, together generating X% of total exports. Mexico (X tons) ranks next in terms of the total exports with a X% share, followed by South Korea (X%), Germany (X%), the UK (X%), China (X%) and the U.S. (X%). Canada (X tons), Switzerland (X tons), Italy (X tons) and Poland (X tons) took a relatively small share of total exports.

From 2007 to 2018, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by China, Hong Kong SAR, while the other leaders experienced more modest paces of growth.

In value terms, China, Hong Kong SAR ($X), Mexico ($X) and Japan ($X) were the countries with the highest levels of exports in 2018, with a combined X% share of total exports.

China, Hong Kong SAR experienced the highest rates of growth with regard to exports, among the main exporting countries over the last eleven years, while the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2018, the silver export price in Iceland amounted to $X per ton, going up by X% against the previous year. In general, the silver export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2008 when the export price increased by X% year-to-year. Iceland export price peaked at $X per ton in 2009; however, from 2010 to 2018, export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2018, the country with the highest price was China, Hong Kong SAR ($X per ton), while Japan ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by the U.S., while the other leaders experienced more modest paces of growth.

Silver Imports

Imports into Iceland

In 2018, approx. X kg of silver including silver plated with gold or platinum were imported into Iceland; declining by -X% against the previous year. Over the period under review, silver imports continue to indicate a deep contraction. The growth pace was the most rapid in 2009 when imports increased by X% y-o-y. Iceland imports peaked at X tons in 2007; however, from 2008 to 2018, imports stood at a somewhat lower figure.

In value terms, silver imports stood at $X in 2018. In general, silver imports continue to indicate a drastic contraction. The pace of growth was the most pronounced in 2017 when imports increased by X% against the previous year. Over the period under review, silver imports reached their peak figure at $X in 2007; however, from 2008 to 2018, imports stood at a somewhat lower figure.

Imports by Country

India (X tons), the U.S. (X tons) and the UK (X tons) represented roughly X% of total imports of silver including silver plated with gold or platinum in 2018. China (X tons) ranks next in terms of the total imports with a X% share, followed by China, Hong Kong SAR (X%) and Japan (X%). Germany (X tons), Thailand (X tons), Taiwan, Chinese (X tons), Singapore (X tons), South Korea (X tons) and Mexico (X tons) followed a long way behind the leaders.

From 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by India, while the other leaders experienced more modest paces of growth.

In value terms, the largest silver importing markets into Iceland were India ($X), the U.S. ($X) and the UK ($X), with a combined X% share of total imports. These countries were followed by Japan, China, China, Hong Kong SAR, Germany, Taiwan, Chinese, Thailand, Singapore, South Korea, Mexico and Iceland, which together accounted for a further X recorded the highest growth rate of imports, among the main importing countries over the last eleven-year period, while the other leaders experienced more modest paces of growth.

Import Prices by Country

The silver import price in Iceland stood at $X per ton in 2018, falling by -X% against the previous year. Over the period from 2007 to 2018, it increased at an average annual rate of +X%. The pace of growth was the most pronounced in 2017 an increase of X% year-to-year. Over the period under review, the import prices for silver including silver plated with gold or platinum reached their peak figure at $X per ton in 2011; however, from 2012 to 2018, import prices stood at a somewhat lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was Japan ($X per ton), while Mexico ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by China, while the other leaders experienced more modest paces of growth.

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Source: IndexBox Platform