Central Asia: Platinum Market 2024

Platinum Market Size in Central Asia

The Central Asian platinum market was estimated at $X in 2022, remaining relatively unchanged against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Platinum Production in Central Asia

In value terms, platinum production stood at $X in 2022 estimated in export price. Overall, production saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of X%. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

Platinum Exports

Exports in Central Asia

In 2022, after two years of growth, there was decline in shipments abroad of platinum, when their volume decreased by X% to X kg. Over the period under review, exports showed prominent growth. The pace of growth was the most pronounced in 2013 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X kg in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, platinum exports contracted modestly to $X in 2022. Overall, exports showed buoyant growth. The pace of growth appeared the most rapid in 2013 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Uzbekistan (X kg) represented the major exporter of platinum, constituting X% of total exports. It was distantly followed by Kazakhstan (X kg), mixing up a X% share of total exports.

Uzbekistan was also the fastest-growing in terms of the platinum exports, with a CAGR of X% from 2012 to 2022. At the same time, Kazakhstan (X%) displayed positive paces of growth. While the share of Uzbekistan (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Kazakhstan (X p.p.) displayed negative dynamics.

In value terms, Uzbekistan ($X) remains the largest platinum supplier in Central Asia, comprising X% of total exports. The second position in the ranking was held by Kazakhstan ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Uzbekistan stood at X%.

Export Prices by Country

The export price in Central Asia stood at $X per kg in 2022, standing approx. at the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per kg. From 2021 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Uzbekistan ($X per kg), while Kazakhstan amounted to $X per kg.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (X%).

Platinum Imports

Imports in Central Asia

After two years of growth, purchases abroad of platinum decreased by X% to X tons in 2022. Over the period under review, imports, however, continue to indicate resilient growth. The pace of growth was the most pronounced in 2016 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, platinum imports dropped to $X in 2022. Overall, imports, however, showed a significant increase. The most prominent rate of growth was recorded in 2017 when imports increased by X%. The level of import peaked at $X in 2021, and then dropped in the following year.

Imports by Country

Uzbekistan prevails in imports structure, recording X kg, which was approx. X% of total imports in 2022. Kazakhstan (X kg) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Turkmenistan (X%).

Uzbekistan experienced a relatively flat trend pattern with regard to volume of imports of platinum. Kazakhstan (X%) and Turkmenistan (X%) illustrated a downward trend over the same period. While the share of Uzbekistan (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Kazakhstan (X p.p.) and Turkmenistan (X p.p.) displayed negative dynamics.

In value terms, Uzbekistan ($X) constitutes the largest market for imported platinum in Central Asia, comprising X% of total imports. The second position in the ranking was held by Turkmenistan ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value in Uzbekistan stood at X%. In the other countries, the average annual rates were as follows: Turkmenistan (X% per year) and Kazakhstan (X% per year).

Import Prices by Country

In 2022, the import price in Central Asia amounted to $X per kg, increasing by X% against the previous year. Import price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, platinum import price increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2013 when the import price increased by X% against the previous year. Over the period under review, import prices attained the peak figure in 2022 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Uzbekistan ($X per kg), while Kazakhstan ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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