Kenya: Silver Nitrate Market 2024

Silver Nitrate Market Size in Kenya

In 2022, after three years of decline, there was significant growth in the Kenyan silver nitrate market, when its value increased by X% to $X. Overall, consumption recorded a strong expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Silver Nitrate Production in Kenya

In value terms, silver nitrate production expanded markedly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when the production volume increased by X%. Over the period under review, production attained the maximum level at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Silver Nitrate Exports

Exports from Kenya

After four years of growth, overseas shipments of silver nitrate decreased by X% to X kg in 2022. Overall, exports saw a deep reduction. The most prominent rate of growth was recorded in 2020 with an increase of X%. The exports peaked at X kg in 2021, and then fell notably in the following year.

In value terms, silver nitrate exports dropped sharply to $X in 2022. Over the period under review, exports saw a pronounced decline. The pace of growth appeared the most rapid in 2020 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2021, and then shrank rapidly in the following year.

Exports by Country

Tanzania (X kg) was the main destination for silver nitrate exports from Kenya, accounting for a X% share of total exports. Moreover, silver nitrate exports to Tanzania exceeded the volume sent to the second major destination, Ethiopia (X kg), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Tanzania amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ethiopia (X% per year) and Burundi (X% per year).

In value terms, Tanzania ($X) emerged as the key foreign market for silver nitrate exports from Kenya, comprising X% of total exports. The second position in the ranking was held by Ethiopia ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Tanzania totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ethiopia (X% per year) and Burundi (X% per year).

Export Prices by Country

The average silver nitrate export price stood at $X per ton in 2022, with a decrease of X% against the previous year. Overall, export price indicated moderate 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, silver nitrate export price increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by X%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Tanzania ($X per ton), while the average price for exports to Burundi ($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 Rwanda (X%), while the prices for the other major destinations experienced mixed trend patterns.

Silver Nitrate Imports

Imports into Kenya

In 2022, imports of silver nitrate into Kenya soared to X kg, picking up by X% on 2021 figures. In general, imports showed prominent growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, silver nitrate imports reached $X in 2022. Over the period under review, imports, however, showed a significant contraction. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X kg), the United Arab Emirates (X kg) and India (X kg) were the main suppliers of silver nitrate imports to Kenya, with a combined X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of X%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest silver nitrate suppliers to Kenya were the United Arab Emirates ($X), India ($X) and China ($X), with a combined X% share of total imports.

The United Arab Emirates, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average silver nitrate import price amounted to $X per ton, shrinking by X% against the previous year. Overall, the import price continues to indicate a precipitous contraction. The most prominent rate of growth was recorded in 2021 when the average import price increased by X%. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was India ($X per ton), while the price for China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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