Puerto Rico: Platinum Market 2024

Platinum Market Size in Puerto Rico

In 2021, after three years of decline, there was significant growth in the Puerto Rican platinum market, when its value increased by 21% to $X. Over the period under review, consumption, however, continues to indicate a abrupt curtailment. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market remained at a lower figure.

Platinum Production in Puerto Rico

In value terms, platinum production surged to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a deep downturn. The growth pace was the most rapid in 2017 when the production volume increased by 39%. As a result, production attained the peak level of $X. From 2018 to 2021, production growth failed to regain momentum.

Platinum Exports

Exports from Puerto Rico

In 2021, exports of platinum from Puerto Rico amounted to less than X kg, therefore, remained relatively stable against the previous year's figure. Overall, exports continue to indicate a relatively flat trend pattern.

In value terms, platinum exports amounted to less than $X in 2021. Over the period under review, exports showed a relatively flat trend pattern.

Exports by Country

In 2021, Slovakia (X tons), distantly followed by the UK (X tons), South Africa (X tons), Belgium (X tons) and Denmark (X tons) represented the major exporters of platinum, together creating 75% of total exports. The Czech Republic (X tons), Hong Kong SAR (X tons), the United States (X tons), Bulgaria (X tons), Germany (X tons), Switzerland (X tons), Spain (X tons) and Japan (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Slovakia (with a CAGR of +42.2%), while the other leaders experienced more modest paces of growth.

In value terms, South Africa ($X), the UK ($X) and Hong Kong SAR ($X) constituted the countries with the highest levels of exports in 2021, with a combined 53% share of total exports. Germany, the United States, Switzerland, Belgium, Japan, the Czech Republic, Spain, Slovakia, Denmark and Bulgaria lagged somewhat behind, together accounting for a further 31%.

Denmark, with a CAGR of +11.1%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Puerto Rico amounted to less than $X per ton, approximately equating the previous year. Over the period under review, the export price showed a relatively flat trend pattern.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Germany ($X per ton), while Slovakia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+15.0%), while the other leaders experienced more modest paces of growth.

Platinum Imports

Imports into Puerto Rico

In 2021, the amount of platinum imported into Puerto Rico stood at less than X kg, leveling off at 2020 figures. Over the period under review, imports recorded a relatively flat trend pattern.

In value terms, platinum imports stood at less than $X in 2021. In general, imports continue to indicate a relatively flat trend pattern.

Imports by Country

In 2021, Belgium (X tons), distantly followed by China (X tons), the UK (X tons), Denmark (X tons), Spain (X tons), Slovakia (X tons), the United States (X tons) and Hong Kong SAR (X tons) were the largest importers of platinum, together making up 73% of total imports. The following importers - Japan (X tons), Switzerland (X tons), Germany (X tons), Italy (X tons) and France (X tons) - together made up 14% of total imports.

From 2012 to 2021, average annual rates of growth with regard to platinum imports into Belgium stood at +11.1%. At the same time, Spain (+38.1%), Denmark (+19.6%), Italy (+12.8%), the United States (+4.8%), Hong Kong SAR (+4.0%), China (+2.9%) and Slovakia (+2.0%) displayed positive paces of growth. Moreover, Spain emerged as the fastest-growing importer imported in the world, with a CAGR of +38.1% from 2012-2021. By contrast, Germany (-1.2%), Switzerland (-1.3%), Japan (-3.1%), the UK (-4.5%) and France (-14.5%) illustrated a downward trend over the same period. While the share of Belgium (+12 p.p.), Spain (+6.3 p.p.) and Denmark (+5.2 p.p.) increased significantly in terms of the global imports from 2012-2021, the share of Japan (-2.6 p.p.), the UK (-7.1 p.p.) and France (-9.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest platinum importing markets into Puerto Rico were China ($X), the UK ($X) and the United States ($X), with a combined 49% share of total imports. Hong Kong SAR, Japan, Switzerland, Germany, Italy, Belgium, France, Spain, Denmark and Slovakia lagged somewhat behind, together accounting for a further 37%.

Italy, with a CAGR of +8.5%, recorded the highest rates of growth with regard to the value of imports, in terms of 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 2021, the import price in Puerto Rico amounted to less than $X per ton, standing approx. at the previous year. In general, the import price recorded a relatively flat trend pattern.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while Slovakia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+9.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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