ASEAN: Semi-Manufactured Silver Market 2024

Semi-Manufactured Silver Market Size in ASEAN

The ASEAN semi-manufactured silver market amounted to $X in 2023, surging by X% against the previous year. In general, consumption saw pronounced growth. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2023, consumption remained at a lower figure.

Semi-Manufactured Silver Production in ASEAN

In value terms, semi-manufactured silver production totaled $X in 2023 estimated in export price. Overall, production showed a prominent expansion. The growth pace was the most rapid in 2017 when the production volume increased by X%. Over the period under review, production attained the maximum level at $X in 2021; however, from 2022 to 2023, production remained at a lower figure.

Semi-Manufactured Silver Exports

Exports in ASEAN

In 2023, overseas shipments of silver in semi-manufactured forms decreased by X% to X tons, falling for the second year in a row after four years of growth. Overall, exports, however, saw a pronounced expansion. The growth pace was the most rapid in 2021 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2022 to 2023, the growth of the exports failed to regain momentum.

In value terms, semi-manufactured silver exports dropped markedly to $X in 2023. In general, exports, however, continue to indicate a mild increase. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2021; however, from 2022 to 2023, the exports failed to regain momentum.

Exports by Country

Singapore prevails in exports structure, accounting for X tons, which was approx. X% of total exports in 2023. Indonesia (X tons) held the second position in the ranking, followed by Thailand (X tons) and Lao People's Democratic Republic (X tons). All these countries together took approx. X% share of total exports. Malaysia (X tons) followed a long way behind the leaders.

Exports from Singapore increased at an average annual rate of X% from 2012 to 2023. At the same time, Malaysia (X%), Thailand (X%), Indonesia (X%) and Lao People's Democratic Republic (X%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of X% from 2012-2023. While the share of Lao People's Democratic Republic (X p.p.) and Thailand (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Lao People's Democratic Republic ($X), Singapore ($X) and Indonesia ($X) appeared to be the countries with the highest levels of exports in 2023, with a combined X% share of total exports.

Lao People's Democratic Republic, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2023, rising by X% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the export price increased by X%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Lao People's Democratic Republic ($X,127 per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Lao People's Democratic Republic (X%), while the other leaders experienced a decline in the export price figures.

Semi-Manufactured Silver Imports

Imports in ASEAN

In 2023, overseas purchases of silver in semi-manufactured forms decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. Over the period under review, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2023, the growth of imports remained at a lower figure.

In value terms, semi-manufactured silver imports shrank rapidly to $X in 2023. Overall, imports recorded a perceptible decrease. The pace of growth was the most pronounced in 2020 with an increase of X%. The level of import peaked at $X in 2021; however, from 2022 to 2023, imports remained at a lower figure.

Imports by Country

Thailand represented the major importer of silver in semi-manufactured forms in ASEAN, with the volume of imports resulting at X tons, which was near X% of total imports in 2023. It was distantly followed by Singapore (X tons), Malaysia (X tons), Indonesia (X tons) and the Philippines (X tons), together generating a X% share of total imports.

Thailand experienced a relatively flat trend pattern with regard to volume of imports of silver in semi-manufactured forms. At the same time, the Philippines (X%), Malaysia (X%) and Indonesia (X%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in ASEAN, with a CAGR of X% from 2012-2023. By contrast, Singapore (X%) illustrated a downward trend over the same period. Malaysia (X p.p.), the Philippines (X p.p.) and Indonesia (X p.p.) significantly strengthened its position in terms of the total imports, while Singapore and Thailand saw its share reduced by X% and X% from 2012 to 2023, respectively.

In value terms, Thailand ($X) constitutes the largest market for imported silver in semi-manufactured forms in ASEAN, comprising X% of total imports. The second position in the ranking was taken by Malaysia ($X), with a X% share of total imports. It was followed by Singapore, with a X% share.

In Thailand, semi-manufactured silver imports decreased by an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Malaysia (X% per year) and Singapore (X% per year).

Import Prices by Country

In 2023, the import price in ASEAN amounted to $X per ton, declining by X% against the previous year. Over the period under review, the import price saw a pronounced descent. The pace of growth appeared the most rapid in 2020 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 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Malaysia ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform