Czech Republic: Silver Market 2024

Silver Market Size in the Czech Republic

In 2023, the Czech silver market decreased by X% to $X, falling for the second consecutive year after two years of growth. Over the period under review, the total consumption indicated a strong expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2021 indices. Over the period under review, the market attained the maximum level at $X in 2021; however, from 2022 to 2023, consumption failed to regain momentum.

Silver Production in the Czech Republic

In value terms, silver production reduced to $X in 2023 estimated in export price. Over the period under review, the total production indicated a modest increase from 2012 to 2023: its value 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, production increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. As a result, production attained the peak level of $X, and then shrank in the following year.

Silver Exports

Exports from the Czech Republic

In 2023, silver exports from the Czech Republic surged to X tons, growing by X% on 2022 figures. Over the period under review, exports, however, continue to indicate a deep reduction. The growth pace was the most rapid in 2021 with an increase of X%. The exports peaked at X tons in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

In value terms, silver exports skyrocketed to $X in 2023. Overall, exports, however, saw a abrupt slump. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The exports peaked at $X in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

Exports by Country

France (X tons) was the main destination for silver exports from the Czech Republic, accounting for a X% share of total exports. Moreover, silver exports to France exceeded the volume sent to the second major destination, Germany (X tons), fivefold. The third position in this ranking was taken by Slovakia (X tons), with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to France totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and Slovakia (X% per year).

In value terms, France ($X) remains the key foreign market for silver including silver plated with gold or platinum exports from the Czech Republic, comprising X% of total exports. The second position in the ranking was taken by Germany ($X), with a X% share of total exports. It was followed by Switzerland, with a X% share.

From 2012 to 2023, the average annual growth rate of value to France amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and Switzerland (X% per year).

Export Prices by Country

The average silver export price stood at $X per ton in 2023, approximately reflecting the previous year. In general, export price indicated modest growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, silver export price decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2014 an increase of X%. The export price peaked at $X per ton in 2021; however, from 2022 to 2023, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Switzerland ($X,723 per ton), while the average price for exports to Serbia ($X per ton) was amongst the lowest.

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

Silver Imports

Imports into the Czech Republic

In 2023, the amount of silver including silver plated with gold or platinum imported into the Czech Republic amounted to X tons, increasing by X% compared with 2022 figures. Overall, imports enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2019 when imports increased by X%. Imports peaked at X tons in 2021; however, from 2022 to 2023, imports remained at a lower figure.

In value terms, silver imports dropped sharply to $X in 2023. In general, imports showed mild growth. The growth pace was the most rapid in 2021 when imports increased by X%. As a result, imports attained the peak of $X. From 2022 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2023, Japan (X tons) constituted the largest silver supplier to the Czech Republic, accounting for a X% share of total imports. Moreover, silver imports from Japan exceeded the figures recorded by the second-largest supplier, Germany (X tons), fourfold. The third position in this ranking was taken by Italy (X tons), with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume from Japan stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Italy (X% per year).

In value terms, the largest silver suppliers to the Czech Republic were Germany ($X), Japan ($X) and Italy ($X), with a combined X% share of total imports.

Among the main suppliers, Japan, 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 silver import price amounted to $X per ton, waning by X% against the previous year. In general, the import price recorded a deep setback. The most prominent rate of growth was recorded in 2021 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Poland ($X,740 per ton), while the price for Portugal ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by France (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform