New Zealand: Unwrought Silver Market 2024

Unwrought Silver Market Size in New Zealand

In 2023, the New Zealand unwrought silver market decreased by X% to $X, falling for the second consecutive year after four years of growth. Overall, consumption, however, recorded significant growth. Over the period under review, the market reached the peak level at $X in 2021; however, from 2022 to 2023, consumption stood at a somewhat lower figure.

Unwrought Silver Production in New Zealand

In value terms, unwrought silver production rose rapidly to $X in 2023 estimated in export price. In general, production continues to indicate a noticeable decrease. The growth pace was the most rapid in 2015 when the production volume increased by X%. Unwrought silver production peaked at $X in 2012; however, from 2013 to 2023, production stood at a somewhat lower figure.

Unwrought Silver Exports

Exports from New Zealand

Unwrought silver exports from New Zealand skyrocketed to X tons in 2023, growing by X% on the previous year. Overall, exports, however, recorded a sharp curtailment. The exports peaked at X tons in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

In value terms, unwrought silver exports soared to $X in 2023. Over the period under review, exports, however, recorded a dramatic slump. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Canada (X tons) was the main destination for unwrought silver exports from New Zealand, with a X% share of total exports. Moreover, unwrought silver exports to Canada exceeded the volume sent to the second major destination, Australia (X kg), twofold.

From 2012 to 2023, the average annual growth rate of volume to Canada was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (X% per year) and the United States (X% per year).

In value terms, Canada ($X), Australia ($X) and the United States ($X) were the largest markets for unwrought silver exported from New Zealand worldwide, together comprising X% of total exports.

In terms of the main countries of destination, the United States, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2023, the average unwrought silver export price amounted to $X per kg, shrinking by X% against the previous year. Overall, the export price, however, saw a modest expansion. The growth pace was the most rapid in 2013 an increase of X%. The export price peaked at $X per kg in 2016; however, from 2017 to 2023, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per kg), while the average price for exports to Canada ($X per kg) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United States (X%).

Unwrought Silver Imports

Imports into New Zealand

In 2023, purchases abroad of silver, unwrought or in powder form decreased by X% to X tons, falling for the second consecutive year after two years of growth. In general, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Imports peaked at X tons in 2016; however, from 2017 to 2023, imports stood at a somewhat lower figure.

In value terms, unwrought silver imports fell sharply to $X in 2023. Over the period under review, imports continue to indicate a deep reduction. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2022 to 2023, the growth of imports failed to regain momentum.

Imports by Country

Malaysia (X tons), Thailand (X tons) and Australia (X kg) were the main suppliers of unwrought silver imports to New Zealand, together comprising X% of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Thailand (with a CAGR of X%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Thailand ($X) constituted the largest supplier of silver, unwrought or in powder form to New Zealand, comprising X% of total imports. The second position in the ranking was held by Malaysia ($X), with a X% share of total imports.

From 2012 to 2023, the average annual rate of growth in terms of value from Thailand stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (X% per year) and Australia (X% per year).

Import Prices by Country

In 2023, the average unwrought silver import price amounted to $X per ton, dropping by X% against the previous year. Over the period under review, the import price showed a abrupt descent. The most prominent rate of growth was recorded in 2021 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs at $X,205 per ton in 2012; however, from 2013 to 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Australia ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Thailand (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform