Silver Ore Price in Bolivia - 2023

Silver Ore Price in Bolivia (FOB) - 2023

In November 2023, the average silver ore export price amounted to $692K per ton, picking up by 18% against the previous month. In general, the export price continues to indicate a buoyant expansion. The growth pace was the most rapid in January 2023 when the average export price increased by 270% month-to-month. Over the period under review, the average export prices reached the peak figure at $708K per ton in September 2023; however, from October 2023 to November 2023, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In November 2023, the country with the highest price was Belgium ($738K per ton), while the average price for exports to South Korea ($458K per ton) was amongst the lowest.

From November 2022 to November 2023, the most notable rate of growth in terms of prices was recorded for supplies to China (+6.9%), while the prices for the other major destinations experienced more modest paces of growth.

Silver Ore Price in Bolivia (CIF) - 2022

In 2022, the average silver ore import price amounted to less than $0.1 per ton, which is down by 99.9% against the previous year. Over the period under review, the import price, however, continues to indicate a significant expansion. The growth pace was the most rapid in 2021 a decrease of -34.9%. The import price peaked at $832,000 per ton in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Chile ($473,687 per ton), while the price for the United States ($3,867 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (+5.4%), while the prices for the other major suppliers experienced a decline.

Silver Ore Exports in Bolivia

In 2022, approx. 14K tons of silver ores and concentrates were exported from Bolivia; with a decrease of -22.9% on 2021 figures. Over the period under review, total exports indicated resilient growth from 2019 to 2022: its volume increased at an average annual rate of +6.1% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +31.6% against 2020 indices. The pace of growth was the most pronounced in 2021 when exports increased by 71% against the previous year. As a result, the exports reached the peak of 18K tons, and then fell significantly in the following year.

In value terms, silver ore exports declined to $750M in 2022. In general, exports, however, posted resilient growth. The most prominent rate of growth was recorded in 2021 when exports increased by 81%. As a result, the exports attained the peak of $870M, and then reduced in the following year.

Export of Silver Ore in Bolivia (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Japan	114	125	242	218	24.1%
South Korea	114	98.7	216	194	19.4%
China	132	96.0	195	175	9.9%
Chile	13.6	37.5	43.4	39.0	42.1%
Belgium	35.9	33.9	40.9	36.8	0.8%
Canada	32.9	18.0	26.9	24.2	-9.7%
Panama	8.5	8.2	7.8	6.6	-8.1%
Others	50.5	65.0	97.9	56.4	3.8%
Total	502	482	870	750	14.3%

Top Export Markets for Silver Ore from Bolivia in 2022:

Panama (1.5K tons)
China (1.5K tons)
South Korea (1.1K tons)
Japan (0.6K tons)
Belgium (0.3K tons)
Canada (0.1K tons)
Chile (0.1K tons)

Silver Ore Imports in Bolivia

In 2021, silver ore imports into Bolivia stood at 1 kg, remaining relatively unchanged against the previous year's figure. Over the period under review, imports saw a relatively flat trend pattern. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in years to come.

In value terms, silver ore imports reduced rapidly to $542 in 2021. In general, imports continue to indicate a sharp decrease.