Pakistan: Platinum Market 2022

Platinum Market Size in Pakistan

In 2021, the Pakistani platinum market increased by 5.5% to $X for the first time since 2014, thus ending a six-year declining trend. Over the period under review, consumption, however, continues to indicate a abrupt setback. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Platinum Production in Pakistan

In value terms, platinum production totaled $X in 2021 estimated in export price. Overall, production, however, showed a abrupt setback. The growth pace was the most rapid in 2013 with an increase of 15% against the previous year. Platinum production peaked at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Platinum Exports

Exports from Pakistan

In 2021, shipments abroad of platinum decreased by -93.7% to X kg for the first time since 2018, thus ending a two-year rising trend. Over the period under review, exports recorded a abrupt setback. The pace of growth was the most pronounced in 2014 with an increase of 300% against the previous year. Over the period under review, the exports attained the peak figure at X kg in 2020, and then fell remarkably in the following year.

In value terms, platinum exports reduced dramatically to $X in 2021. Overall, exports saw a abrupt curtailment. The pace of growth appeared the most rapid in 2017 when exports increased by 199% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

The UK (X kg) was the main destination for platinum exports from Pakistan, with a approx. 100% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to the UK stood at -5.5%.

In value terms, the UK ($X) emerged as the key foreign market for platinum exports from Pakistan.

From 2012 to 2021, the average annual growth rate of value to the UK was relatively modest.

Export Prices by Country

The average platinum export price stood at $X per kg in 2021, with an increase of 1,108% against the previous year. Overall, the export price posted a pronounced expansion. The export price peaked at $X per kg in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for the UK.

From 2012 to 2021, the rate of growth in terms of prices for the UK amounted to +6.2% per year.

Platinum Imports

Imports into Pakistan

In 2021, supplies from abroad of platinum decreased by -88.5% to X tons for the first time since 2017, thus ending a three-year rising trend. Over the period under review, imports, however, showed a prominent increase. The most prominent rate of growth was recorded in 2018 with an increase of 774% against the previous year. Imports peaked at X tons in 2020, and then reduced dramatically in the following year.

In value terms, platinum imports dropped markedly to $X in 2021. In general, imports, however, showed prominent growth. The growth pace was the most rapid in 2017 when imports increased by 206%. Imports peaked at $X in 2020, and then declined dramatically in the following year.

Imports by Country

In 2021, Germany (X kg) constituted the largest supplier of platinum to Pakistan, accounting for a 90% share of total imports. It was followed by the UK (X kg), with a 0.9% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from Germany totaled +16.5%.

In value terms, Germany ($X) constituted the largest supplier of platinum to Pakistan, comprising 85% of total imports. The second position in the ranking was held by the UK ($X), with a 0.3% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Germany totaled +16.9%.

Import Prices by Country

The average platinum import price stood at $X per kg in 2021, increasing by 602% against the previous year. In general, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 1,210%. As a result, import price reached the peak level of $X per kg. From 2018 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Germany ($X per kg), while the price for the UK totaled $X per kg.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+0.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform

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