SADC: Unwrought Silver Market 2024

Unwrought Silver Market Size in SADC

The SADC unwrought silver market stood at $X in 2023, picking up by X% against the previous year. In general, consumption, however, showed a perceptible curtailment. The level of consumption peaked at $X in 2012; however, from 2013 to 2023, consumption failed to regain momentum.

Unwrought Silver Production in SADC

In value terms, unwrought silver production expanded to $X in 2023 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2023, production growth remained at a somewhat lower figure.

Unwrought Silver Exports

Exports in SADC

In 2023, approx. X tons of silver, unwrought or in powder form were exported in SADC; which is down by X% compared with 2022. In general, exports faced a deep setback. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2015; however, from 2016 to 2023, the exports stood at a somewhat lower figure.

In value terms, unwrought silver exports dropped rapidly to $X in 2023. Overall, exports showed a abrupt decline. The most prominent rate of growth was recorded in 2021 with an increase of X%. The level of export peaked at $X in 2015; however, from 2016 to 2023, the exports failed to regain momentum.

Exports by Country

In 2023, South Africa (X tons) represented the largest exporter of silver, unwrought or in powder form, constituting X% of total exports. Tanzania (X kg) held the second position in the ranking, followed by Swaziland (X kg) and Zimbabwe (X kg). All these countries together held approx. X% share of total exports.

Exports from South Africa decreased at an average annual rate of X% from 2012 to 2023. At the same time, Tanzania (X%) and Zimbabwe (X%) displayed positive paces of growth. Moreover, Tanzania emerged as the fastest-growing exporter exported in SADC, with a CAGR of X% from 2012-2023. By contrast, Swaziland (X%) illustrated a downward trend over the same period. While the share of South Africa (X p.p.), Tanzania (X p.p.) and Zimbabwe (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Swaziland (X p.p.) displayed negative dynamics.

In value terms, South Africa ($X) remains the largest unwrought silver supplier in SADC, comprising X% of total exports. The second position in the ranking was held by Tanzania ($X), with a X% share of total exports. It was followed by Swaziland, with a X% share.

In South Africa, unwrought silver exports increased at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Tanzania (X% per year) and Swaziland (X% per year).

Export Prices by Country

The export price in SADC stood at $X per ton in 2023, reducing by X% against the previous year. Over the period under review, the export price, however, recorded a pronounced expansion. The most prominent rate of growth was recorded in 2020 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2021; however, from 2022 to 2023, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2023, major exporting countries recorded the following prices: in South Africa ($X per ton) and Tanzania ($X per ton), while Swaziland ($X per ton) and Zimbabwe ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by South Africa (X%), while the other leaders experienced a decline in the export price figures.

Unwrought Silver Imports

Imports in SADC

In 2023, supplies from abroad of silver, unwrought or in powder form was finally on the rise to reach X tons after two years of decline. In general, imports, however, continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at X tons in 2017; however, from 2018 to 2023, imports stood at a somewhat lower figure.

In value terms, unwrought silver imports soared to $X in 2023. Overall, imports, however, recorded a abrupt setback. The pace of growth was the most pronounced in 2016 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at $X in 2017; however, from 2018 to 2023, imports failed to regain momentum.

Imports by Country

South Africa prevails in imports structure, reaching X tons, which was near X% of total imports in 2023. It was distantly followed by Mauritius (X kg), Zimbabwe (X kg) and Tanzania (X kg), together constituting a X% share of total imports. Seychelles (X kg) followed a long way behind the leaders.

South Africa experienced a relatively flat trend pattern with regard to volume of imports of silver, unwrought or in powder form. At the same time, Seychelles (X%) displayed positive paces of growth. Moreover, Seychelles emerged as the fastest-growing importer imported in SADC, with a CAGR of X% from 2012-2023. By contrast, Zimbabwe (X%), Tanzania (X%) and Mauritius (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of South Africa, Zimbabwe and Seychelles increased by X, X and X percentage points, respectively.

In value terms, the largest unwrought silver importing markets in SADC were Mauritius ($X), South Africa ($X) and Tanzania ($X), together comprising X% of total imports.

Tanzania, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2023, the import price in SADC amounted to $X per ton, dropping by X% against the previous year. Over the period under review, the import price, however, showed a pronounced expansion. The growth pace was the most rapid in 2016 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2021; however, from 2022 to 2023, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Mauritius ($X,725 per ton), while Zimbabwe ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Tanzania (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform