GCC: Semi-Manufactured Silver Market 2024

Semi-Manufactured Silver Market Size in GCC

The GCC semi-manufactured silver market rose rapidly to $X in 2022, increasing by X% against the previous year. The total consumption indicated a notable increase from 2012 to 2022: its value 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, consumption decreased by X% against 2020 indices. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Semi-Manufactured Silver Production in GCC

In value terms, semi-manufactured silver production rose remarkably to $X in 2022 estimated in export price. The total production indicated a tangible expansion from 2012 to 2022: its value 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, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2013 when the production volume increased by X%. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Semi-Manufactured Silver Exports

Exports in GCC

In 2022, shipments abroad of silver in semi-manufactured forms increased by X% to X tons, rising for the third year in a row after two years of decline. Overall, exports posted significant growth. The pace of growth appeared the most rapid in 2015 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, semi-manufactured silver exports skyrocketed to $X in 2022. In general, exports enjoyed a resilient increase. The most prominent rate of growth was recorded in 2015 when exports increased by X% against the previous year. The level of export peaked at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

The shipments of the one major exporters of silver in semi-manufactured forms, namely the United Arab Emirates, represented more than two-thirds of total export.

The United Arab Emirates was also the fastest-growing in terms of the silver in semi-manufactured forms exports, with a CAGR of X% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) also remains the largest semi-manufactured silver supplier in GCC.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates totaled X%.

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, shrinking by X% against the previous year. Overall, the export price faced a abrupt decrease. The growth pace was the most rapid in 2015 when the export price increased by X% against the previous year. Over the period under review, the export prices hit record highs at $X,034 per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for the United Arab Emirates.

From 2012 to 2022, the rate of growth in terms of prices for the United Arab Emirates amounted to X% per year.

Semi-Manufactured Silver Imports

Imports in GCC

In 2022, purchases abroad of silver in semi-manufactured forms increased by X% to X tons, rising for the second consecutive year after two years of decline. Overall, imports continue to indicate mild growth. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, imports attained the peak figure at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, semi-manufactured silver imports shrank rapidly to $X in 2022. Over the period under review, imports, however, saw a abrupt slump. The most prominent rate of growth was recorded in 2018 when imports increased by X%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Kuwait (X tons) and the United Arab Emirates (X tons) prevails in imports structure, together comprising X% of total imports. It was distantly followed by Qatar (X tons), creating a X% share of total imports. Bahrain (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Kuwait (with a CAGR of X%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported silver in semi-manufactured forms in GCC, comprising X% of total imports. The second position in the ranking was taken by Kuwait ($X), with a X% share of total imports. It was followed by Qatar, with a X% share.

In the United Arab Emirates, semi-manufactured silver imports decreased by an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Kuwait (X% per year) and Qatar (X% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, declining by X% against the previous year. Over the period under review, the import price recorded a deep contraction. The pace of growth was the most pronounced in 2014 when the import price increased by X%. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while Bahrain ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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