MENA: Semi-Manufactured Silver Market 2024

Semi-Manufactured Silver Market Size in MENA

The MENA's semi-manufactured silver market was estimated at $X in 2022, surging by X% against the previous year. Overall, consumption, however, recorded a slight curtailment. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Semi-Manufactured Silver Production in MENA

In value terms, semi-manufactured silver production amounted to $X in 2022 estimated in export price. Over the period under review, production, however, showed a mild descent. The most prominent rate of growth was recorded in 2013 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Semi-Manufactured Silver Exports

Exports in MENA

After two years of growth, shipments abroad of silver in semi-manufactured forms decreased by X% to X tons in 2022. In general, exports, however, recorded a strong expansion. The growth pace was the most rapid in 2020 with an increase of X%. The volume of export peaked at X tons in 2021, and then fell modestly in the following year.

In value terms, semi-manufactured silver exports fell significantly to $X in 2022. Over the period under review, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of X%. The level of export peaked at $X in 2021, and then fell remarkably in the following year.

Exports by Country

Turkey was the main exporter of silver in semi-manufactured forms in MENA, with the volume of exports finishing at X tons, which was approx. X% of total exports in 2022. It was distantly followed by the United Arab Emirates (X tons), constituting a X% share of total exports. Morocco (X tons) and Israel (X tons) followed a long way behind the leaders.

Turkey was also the fastest-growing in terms of the silver in semi-manufactured forms exports, with a CAGR of X% from 2012 to 2022. At the same time, the United Arab Emirates (X%) and Israel (X%) displayed positive paces of growth. By contrast, Morocco (X%) illustrated a downward trend over the same period. Turkey (X p.p.) and the United Arab Emirates (X p.p.) significantly strengthened its position in terms of the total exports, while Morocco saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest semi-manufactured silver supplier in MENA, comprising X% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total exports. It was followed by Israel, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey stood at X%. In the other countries, the average annual rates were as follows: the United Arab Emirates (X% per year) and Israel (X% per year).

Export Prices by Country

In 2022, the export price in MENA amounted to $X per ton, with a decrease of X% against the previous year. In general, the export price continues to indicate a deep setback. The pace of growth was the most pronounced in 2015 an increase of X%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, 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 Israel ($X per ton), while Morocco ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (X%), while the other leaders experienced a decline in the export price figures.

Semi-Manufactured Silver Imports

Imports in MENA

In 2022, after two years of decline, there was significant growth in purchases abroad of silver in semi-manufactured forms, when their volume increased by X% to X tons. Total imports indicated strong growth from 2012 to 2022: its volume 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. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

In value terms, semi-manufactured silver imports contracted rapidly to $X in 2022. Over the period under review, imports, however, recorded a noticeable reduction. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, imports reached the peak of $X, and then dropped remarkably in the following year.

Imports by Country

In 2022, Turkey (X tons), distantly followed by Israel (X tons), Kuwait (X tons), Algeria (X tons) and the United Arab Emirates (X tons) were the major importers of silver in semi-manufactured forms, together mixing up X% of total imports. Egypt (X tons) and Tunisia (X tons) took a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Kuwait (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Israel ($X), Turkey ($X) and the United Arab Emirates ($X) constituted the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Egypt, Algeria, Kuwait and Tunisia lagged somewhat behind, together accounting for a further X%.

Kuwait, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in MENA amounted to $X per ton, declining by X% against the previous year. In general, the import price recorded a deep contraction. The growth pace was the most rapid in 2021 an increase of X%. Over the period under review, import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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