Switzerland: Unwrought Silver Market 2024

Unwrought Silver Market Size in Switzerland

The Swiss unwrought silver market amounted to $X in 2023, picking up by X% against the previous year. In general, consumption, however, saw a abrupt downturn. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2023, consumption stood at a somewhat lower figure.

Unwrought Silver Production in Switzerland

In value terms, unwrought silver production expanded slightly 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 with an increase of X% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2023, production stood at a somewhat lower figure.

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Unwrought Silver Exports

Exports from Switzerland

In 2023, approx. X tons of silver, unwrought or in powder form were exported from Switzerland; dropping by X% compared with 2022. Overall, total exports indicated a mild increase from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports decreased by X% against 2021 indices. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. The exports peaked at X tons in 2013; however, from 2014 to 2023, the exports remained at a lower figure.

In value terms, unwrought silver exports reduced slightly to $X in 2023. Over the period under review, exports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2022 to 2023, the growth of the exports remained at a lower figure.

Exports by Country

Turkey (X tons), the United States (X tons) and Austria (X tons) were the main destinations of unwrought silver exports from Switzerland, with a combined X% share of total exports.

From 2012 to 2023, the biggest increases were recorded for the United States (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for unwrought silver exported from Switzerland were Turkey ($X), the United States ($X) and Austria ($X), with a combined X% share of total exports.

Among the main countries of destination, the United States, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the average unwrought silver export price amounted to $X per ton, rising by X% against the previous year. In general, the export price, however, saw a perceptible slump. The growth pace was the most rapid in 2021 when the average export price increased by X%. Over the period under review, the average export prices reached the maximum at $X,335 per ton in 2012; however, from 2013 to 2023, the export prices failed to regain momentum.

Average prices varied noticeably for the major overseas markets. In 2023, amid the top suppliers, the highest price was recorded for prices to the United States ($X per ton) and the UK ($X per ton), while the average price for exports to India ($X per ton) and Italy ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (X%), while the prices for the other major destinations experienced a decline.

Unwrought Silver Imports

Imports into Switzerland

In 2023, supplies from abroad of silver, unwrought or in powder form decreased by X% to X tons for the first time since 2018, thus ending a four-year rising trend. Overall, imports recorded a noticeable curtailment. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2023, imports remained at a lower figure.

In value terms, unwrought silver imports declined to $X in 2023. In general, imports saw a deep downturn. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2023, imports remained at a lower figure.

Imports by Country

China (X tons), Hong Kong SAR (X tons) and Italy (X tons) were the main suppliers of unwrought silver imports to Switzerland, with a combined X% share of total imports. Morocco, Peru, Germany, Turkey, Sweden, Argentina, India, Chile, South Korea and Australia lagged somewhat behind, together accounting for a further X%.

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

In value terms, China ($X), Hong Kong SAR ($X) and Italy ($X) appeared to be the largest unwrought silver suppliers to Switzerland, together accounting for X% of total imports. Argentina, Morocco, Peru, Chile, Germany, Sweden, Turkey, India, Australia and South Korea lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Sweden, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the average unwrought silver import price amounted to $X per ton, approximately equating the previous year. Overall, the import price, however, saw a pronounced contraction. The most prominent rate of growth was recorded in 2019 when the average import price increased by X% against the previous year. The import price peaked at $X,393 per ton in 2012; however, from 2013 to 2023, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Argentina ($X,093 per ton), while the price for Morocco ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform