Price for Non-Silver Precious Metal Jewelry in Hong Kong SAR - 2023
Contents:
- Price for Non-Silver Precious Metal Jewelry in Hong Kong SAR (CIF) - 2023
- Price for Non-Silver Precious Metal Jewelry in Hong Kong SAR (FOB) - 2023
- Imports of Non-Silver Precious Metal Jewelry in Hong Kong SAR
- Exports of Non-Silver Precious Metal Jewelry in Hong Kong SAR
Price for Non-Silver Precious Metal Jewelry in Hong Kong SAR (CIF) - 2023
The average non-silver precious metal jewelry import price stood at $93.2M per ton in June 2023, dropping by -14.9% against the previous month. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in January 2023 an increase of 15% m-o-m. The import price peaked at $110M per ton in May 2023, and then dropped in the following month.
There were significant differences in the average prices amongst the major supplying countries. In June 2023, the country with the highest price was Switzerland ($630M per ton), while the price for Turkey ($51.9M per ton) was amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+2.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Non-Silver Precious Metal Jewelry in Hong Kong SAR (FOB) - 2023
The average non-silver precious metal jewelry export price stood at $107M per ton in June 2023, which is down by -28.4% against the previous month. In general, the export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in February 2023 an increase of 44% m-o-m. Over the period under review, the average export prices hit record highs at $150M per ton in May 2023, and then fell rapidly in the following month.
Prices varied noticeably by the country of destination: the country with the highest price was France ($232M per ton), while the average price for exports to the United States ($66.2M per ton) was amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+4.8%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Non-Silver Precious Metal Jewelry in Hong Kong SAR
In 2022, approx. 178 tons of non-silver precious metal jewelry were imported into Hong Kong SAR; surging by 8.7% on 2021 figures. Over the period under review, total imports indicated a temperate expansion from 2019 to 2022: its volume increased at an average annual rate of +3.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +65.5% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 52%. Over the period under review, imports reached the maximum in 2022 and are likely to see gradual growth in years to come.
In value terms, non-silver precious metal jewelry imports amounted to $15.6B in 2022. Overall, total imports indicated a remarkable increase from 2019 to 2022: its value increased at an average annual rate of +6.7% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +53.8% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 50%. Over the period under review, imports attained the maximum in 2022 and are likely to continue growth in years to come.
| Import of Non-Silver Precious Metal Jewelry in Hong Kong SAR (Billion USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 4.0 | 3.5 | 7.4 | 7.3 | 22.2% |
| United Arab Emirates | 1.5 | 0.8 | 1.1 | 1.3 | -4.7% |
| Switzerland | 1.7 | 0.9 | 1.3 | 1.3 | -8.6% |
| United States | 1.2 | 0.9 | 0.8 | 0.9 | -9.1% |
| Japan | 0.3 | 0.3 | 0.6 | 0.7 | 32.6% |
| Turkey | 0.2 | 0.2 | 0.4 | 0.6 | 44.2% |
| Italy | 0.7 | 0.3 | 0.5 | 0.5 | -10.6% |
| India | 0.8 | 0.7 | 0.5 | 0.4 | -20.6% |
| Indonesia | 0.3 | 0.2 | 0.2 | 0.3 | 0.0% |
| Others | 2.2 | 2.3 | 2.5 | 2.4 | 2.9% |
| Total | 12.9 | 10.2 | 15.3 | 15.6 | 6.5% |
Top Suppliers of Non-Silver Precious Metal Jewelry to Hong Kong SAR in 2022:
- China (97.9 tons)
- United Arab Emirates (20.6 tons)
- Turkey (13.0 tons)
- Japan (11.9 tons)
- Italy (8.5 tons)
- Indonesia (5.8 tons)
- United States (4.5 tons)
- India (3.8 tons)
- Switzerland (2.3 tons)
Exports of Non-Silver Precious Metal Jewelry in Hong Kong SAR
In 2022, non-silver precious metal jewelry exports from Hong Kong SAR contracted to 96 tons, which is down by -8.3% compared with the previous year's figure. Over the period under review, exports, however, continue to indicate resilient growth. The pace of growth was the most pronounced in 2021 with an increase of 93%. As a result, the exports reached the peak of 104 tons, and then reduced in the following year.
In value terms, non-silver precious metal jewelry exports reduced modestly to $8.5B in 2022. The total export value increased at an average annual rate of +4.5% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when exports increased by 50% against the previous year. As a result, the exports attained the peak of $8.8B, and then reduced in the following year.
| Export of Non-Silver Precious Metal Jewelry in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 1,573 | 914 | 1,509 | 1,475 | -2.1% |
| China | 480 | 1,505 | 2,238 | 1,351 | 41.2% |
| Macao SAR | 732 | 397 | 1,117 | 963 | 9.6% |
| Taiwan (Chinese) | 283 | 470 | 789 | 915 | 47.9% |
| Singapore | 390 | 340 | 320 | 476 | 6.9% |
| United Kingdom | 548 | 267 | 454 | 451 | -6.3% |
| United Arab Emirates | 510 | 120 | 151 | 386 | -8.9% |
| France | 365 | 184 | 255 | 277 | -8.8% |
| Thailand | 130 | 148 | 202 | 232 | 21.3% |
| Italy | 86.0 | 96.9 | 162 | 210 | 34.7% |
| Australia | 104 | 80.7 | 126 | 158 | 15.0% |
| Malaysia | 63.8 | 38.7 | 66.3 | 121 | 23.8% |
| Canada | 68.5 | 36.0 | 55.1 | 58.4 | -5.2% |
| Others | 2,073 | 1,276 | 1,378 | 1,382 | -12.6% |
| Total | 7,407 | 5,874 | 8,822 | 8,456 | 4.5% |
Top Export Markets for Non-Silver Precious Metal Jewelry from Hong Kong SAR in 2022:
- United States (37.7 tons)
- China (10.4 tons)
- Macao SAR (8.2 tons)
- Taiwan (Chinese) (6.8 tons)
- United Arab Emirates (5.5 tons)
- Thailand (3.4 tons)
- Singapore (2.9 tons)
- United Kingdom (2.3 tons)
- Australia (2.2 tons)
- France (1.9 tons)
- Italy (1.8 tons)
- Canada (1.6 tons)
- Malaysia (1.6 tons)
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