MERCOSUR: Unwrought Silver Market 2024

Unwrought Silver Market Size in MERCOSUR

The MERCOSUR unwrought silver market totaled $X in 2023, rising by X% against the previous year. Over the period under review, consumption saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2022 to 2023, the growth of the market remained at a somewhat lower figure.

Unwrought Silver Production in MERCOSUR

In value terms, unwrought silver production rose markedly to $X in 2023 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2022 to 2023, production growth remained at a somewhat lower figure.

Unwrought Silver Exports

Exports in MERCOSUR

In 2023, the amount of silver, unwrought or in powder form exported in MERCOSUR shrank slightly to X tons, declining by X% against 2022. The total export volume increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2014 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2023, the exports stood at a somewhat lower figure.

In value terms, unwrought silver exports expanded slightly to $X in 2023. Overall, exports showed a mild slump. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

In 2023, Chile (X tons) was the key exporter of silver, unwrought or in powder form, making up X% of total exports. Peru (X tons) took the second position in the ranking, followed by Argentina (X tons). All these countries together took near X% share of total exports.

Chile was also the fastest-growing in terms of the silver, unwrought or in powder form exports, with a CAGR of X% from 2012 to 2023. At the same time, Argentina (X%) displayed positive paces of growth. By contrast, Peru (X%) illustrated a downward trend over the same period. While the share of Chile (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Peru (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Chile ($X) remains the largest unwrought silver supplier in MERCOSUR, comprising X% of total exports. The second position in the ranking was taken by Argentina ($X), with a X% share of total exports.

In Chile, unwrought silver exports remained relatively stable over the period from 2012-2023. In the other countries, the average annual rates were as follows: Argentina (X% per year) and Peru (X% per year).

Export Prices by Country

In 2023, the export price in MERCOSUR amounted to $X per ton, rising by X% against the previous year. In general, the export price, however, recorded a pronounced shrinkage. The pace of growth was the most pronounced in 2021 when the export price increased by X%. The level of export peaked at $X,397 per ton in 2012; however, from 2013 to 2023, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Argentina ($X per ton), while Chile ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Chile (X%), while the other leaders experienced a decline in the export price figures.

Unwrought Silver Imports

Imports in MERCOSUR

Unwrought silver imports declined markedly to X tons in 2023, which is down by X% compared with the year before. Overall, imports saw a drastic downturn. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2014; however, from 2015 to 2023, imports remained at a lower figure.

In value terms, unwrought silver imports fell to $X in 2023. In general, imports saw a abrupt shrinkage. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2023, imports remained at a lower figure.

Imports by Country

Brazil dominates imports structure, recording X tons, which was near X% of total imports in 2023. It was distantly followed by Colombia (X tons) and Chile (X tons), together creating an X% share of total imports. Argentina (X tons) held a minor share of total imports.

Imports into Brazil decreased at an average annual rate of X% from 2012 to 2023. At the same time, Argentina (X%), Chile (X%) and Colombia (X%) displayed positive paces of growth. Moreover, Argentina emerged as the fastest-growing importer imported in MERCOSUR, with a CAGR of X% from 2012-2023. From 2012 to 2023, the share of Colombia, Chile and Argentina increased by X, X and X percentage points, respectively.

In value terms, Brazil ($X) constitutes the largest market for imported silver, unwrought or in powder form in MERCOSUR, comprising X% of total imports. The second position in the ranking was taken by Colombia ($X), with a X% share of total imports. It was followed by Chile, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Brazil amounted to X%. In the other countries, the average annual rates were as follows: Colombia (X% per year) and Chile (X% per year).

Import Prices by Country

In 2023, the import price in MERCOSUR amounted to $X per ton, growing by X% against the previous year. Overall, the import price, however, recorded a noticeable decline. The pace of growth was the most pronounced in 2020 an increase of X%. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2023, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Argentina ($X per ton) and Chile ($X per ton), while Colombia ($X per ton) and Brazil ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Colombia (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform