Southern Asia: Unwrought Silver Market 2024

Unwrought Silver Market Size in Southern Asia

In 2023, the South Asian unwrought silver market was finally on the rise to reach $X for the first time since 2019, thus ending a three-year declining trend. Overall, consumption, however, recorded a noticeable setback. Over the period under review, the market attained the maximum level at $X in 2015; however, from 2016 to 2023, consumption stood at a somewhat lower figure.

Unwrought Silver Production in Southern Asia

In value terms, unwrought silver production surged to $X in 2023 estimated in export price. Over the period under review, production continues to indicate a prominent increase. The most prominent rate of growth was recorded in 2019 when the production volume increased by X%. Over the period under review, production attained the maximum level at $X in 2021; however, from 2022 to 2023, production stood at a somewhat lower figure.

Unwrought Silver Exports

Exports in Southern Asia

In 2023, the amount of silver, unwrought or in powder form exported in Southern Asia soared to X tons, jumping by X% on the previous year's figure. Over the period under review, exports, however, recorded a abrupt contraction. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

In value terms, unwrought silver exports surged to $X in 2023. In general, exports, however, recorded a abrupt decrease. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

Exports by Country

India prevails in exports structure, amounting to X tons, which was near X% of total exports in 2023. Pakistan (X kg) and Afghanistan (X kg) followed a long way behind the leaders.

Exports from India decreased at an average annual rate of X% from 2012 to 2023. At the same time, Afghanistan (X%) displayed positive paces of growth. Moreover, Afghanistan emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of X% from 2012-2023. By contrast, Pakistan (X%) illustrated a downward trend over the same period. While the share of Afghanistan (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of India (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) remains the largest unwrought silver supplier in Southern Asia, comprising X% of total exports. The second position in the ranking was held by Pakistan ($X), with a X% share of total exports.

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

Export Prices by Country

In 2023, the export price in Southern Asia amounted to $X per ton, with a decrease of X% against the previous year. Over the period under review, the export price recorded a noticeable slump. The growth pace was the most rapid in 2021 when the export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2022 to 2023, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Afghanistan ($X per ton), while India ($X per ton) was amongst the lowest.

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

Unwrought Silver Imports

Imports in Southern Asia

In 2023, supplies from abroad of silver, unwrought or in powder form was finally on the rise to reach X tons for the first time since 2018, thus ending a four-year declining trend. Overall, imports, however, recorded a abrupt decrease. The pace of growth was the most pronounced in 2013 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2023, imports failed to regain momentum.

In value terms, unwrought silver imports skyrocketed to $X in 2023. Over the period under review, imports, however, continue to indicate a deep setback. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2023, imports failed to regain momentum.

Imports by Country

India dominates imports structure, resulting at X tons, which was approx. X% of total imports in 2023. Nepal (X tons) held a relatively small share of total imports.

From 2012 to 2023, average annual rates of growth with regard to unwrought silver imports into India stood at X%. Nepal (X%) illustrated a downward trend over the same period. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported silver, unwrought or in powder form in Southern Asia, comprising X% of total imports. The second position in the ranking was held by Nepal ($X), with a X% share of total imports.

From 2012 to 2023, the average annual growth rate of value in India totaled X%.

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2023, rising by X% against the previous year. Overall, the import price, however, continues to indicate a noticeable reduction. The pace of growth appeared the most rapid in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2023, import prices remained at a lower figure.

Average prices varied noticeably amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Nepal ($X per ton), while India stood at $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Nepal (X%).

Source: IndexBox Platform