Luxembourg: Unwrought Silver Market 2024

Unwrought Silver Market Size in Luxembourg

The Luxembourg unwrought silver market reduced rapidly to $X in 2023, with a decrease of X% against the previous year. Over the period under review, consumption saw a precipitous curtailment. Unwrought silver consumption peaked at $X in 2013; however, from 2014 to 2023, consumption stood at a somewhat lower figure.

Unwrought Silver Production in Luxembourg

In value terms, unwrought silver production amounted to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2023, production remained at a lower figure.

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Unwrought Silver Exports

Exports from Luxembourg

Unwrought silver exports from Luxembourg declined remarkably to X kg in 2023, falling by X% compared with the previous year. Over the period under review, exports, however, showed a buoyant expansion. The most prominent rate of growth was recorded in 2018 when exports increased by X%. Over the period under review, the exports reached the peak figure at X tons in 2013; however, from 2014 to 2023, the exports remained at a lower figure.

In value terms, unwrought silver exports contracted significantly to $X in 2023. In general, exports, however, saw a strong increase. The growth pace was the most rapid in 2018 with an increase of X%. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2023, the exports failed to regain momentum.

Exports by Country

Belgium (X kg) was the main destination for unwrought silver exports from Luxembourg, with a X% share of total exports. Moreover, unwrought silver exports to Belgium exceeded the volume sent to the second major destination, Germany (X kg), more than tenfold.

From 2012 to 2023, the average annual rate of growth in terms of volume to Belgium totaled X%.

In value terms, Belgium ($X) remains the key foreign market for silver, unwrought or in powder form exports from Luxembourg, comprising X% of total exports. The second position in the ranking was held by Germany ($X), with a X% share of total exports.

From 2012 to 2023, the average annual growth rate of value to Belgium totaled X%.

Export Prices by Country

In 2023, the average unwrought silver export price amounted to $X per ton, picking up by X% against the previous year. In general, export price indicated a remarkable increase from 2012 to 2023: its price 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, unwrought silver export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2013 when the average export price increased by X%. The export price peaked at $X per ton in 2019; however, from 2020 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2023, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Belgium totaled $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Germany (X%), while the prices for the other major destinations experienced more modest paces of growth.

Unwrought Silver Imports

Imports into Luxembourg

After two years of growth, supplies from abroad of silver, unwrought or in powder form decreased by X% to X kg in 2023. Overall, imports saw a precipitous descent. The pace of growth appeared the most rapid in 2016 when imports increased by X%. Over the period under review, imports attained the maximum at X tons in 2013; however, from 2014 to 2023, imports stood at a somewhat lower figure.

In value terms, unwrought silver imports dropped notably to $X in 2023. In general, imports faced a significant decrease. The pace of growth was the most pronounced in 2016 when imports increased by X%. Imports peaked at $X in 2013; however, from 2014 to 2023, imports remained at a lower figure.

Imports by Country

In 2023, Germany (X kg) constituted the largest supplier of unwrought silver to Luxembourg, accounting for a X% share of total imports. Moreover, unwrought silver imports from Germany exceeded the figures recorded by the second-largest supplier, Japan (X kg), twofold. The third position in this ranking was held by France (X kg), with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume from Germany totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and France (X% per year).

In value terms, Germany ($X) constituted the largest supplier of silver, unwrought or in powder form to Luxembourg, comprising X% of total imports. The second position in the ranking was held by France ($X), with an X% share of total imports. It was followed by Italy, with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of value from Germany totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: France (X% per year) and Italy (X% per year).

Import Prices by Country

The average unwrought silver import price stood at $X per ton in 2023, shrinking by X% against the previous year. In general, the import price, however, continues to indicate a temperate expansion. The pace of growth appeared the most rapid in 2014 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2023, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the Czech Republic (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform