Price for Non-Silver Precious Metal Jewelry in the Philippines - 2023
Contents:
- Price for Non-Silver Precious Metal Jewelry in the Philippines (CIF) - 2022
- Price for Non-Silver Precious Metal Jewelry in the Philippines (FOB) - 2023
- Imports of Non-Silver Precious Metal Jewelry in the Philippines
- Exports of Non-Silver Precious Metal Jewelry in the Philippines
Price for Non-Silver Precious Metal Jewelry in the Philippines (CIF) - 2022
The average non-silver precious metal jewelry import price stood at $2,239,720 per ton in 2022, waning by -25.7% against the previous year. In general, the import price continues to indicate a deep contraction. The pace of growth appeared the most rapid in 2015 an increase of 179% against the previous year. As a result, import price attained the peak level of $8,897 per kg. From 2016 to 2022, the average import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United Arab Emirates ($10,541,000 per ton), while the price for the United States ($1,217,311 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+2.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Non-Silver Precious Metal Jewelry in the Philippines (FOB) - 2023
The average non-silver precious metal jewelry export price stood at $46.1M per ton in June 2023, flattening at the previous month. In general, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in January 2023 when the average export price increased by less than 0.1% against the previous month. Over the period under review, the average export prices hit record highs at $46.3M per ton in June 2022; afterwards, it flattened through to June 2023.
Average prices varied noticeably for the major external markets. In June 2023, the country with the highest price was Italy ($46.1M per ton), while the average price for exports to Singapore ($46.1M 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 Japan (+0.3%), while the prices for the other major destinations experienced a decline.
Imports of Non-Silver Precious Metal Jewelry in the Philippines
For the fourth year in a row, the Philippines recorded growth in overseas purchases of non-silver precious metal jewelry, which increased by 122% to 18 tons in 2022. In general, imports posted a significant expansion. The pace of growth was the most pronounced in 2021 with an increase of 322% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.
In value terms, non-silver precious metal jewelry imports skyrocketed to $40M in 2022. Over the period under review, imports recorded a significant expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 107% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to see gradual growth in years to come.
| Import of Non-Silver Precious Metal Jewelry in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Italy | 0.3 | 3.2 | 17.0 | 33.5 | 381.5% |
| United States | N/A | N/A | 0.1 | 3.5 | 3400.0% |
| Hong Kong SAR | N/A | 0.1 | 0.5 | 1.3 | 260.6% |
| China | 0.1 | 0.1 | N/A | 0.1 | 0.0% |
| United Arab Emirates | 6.7 | 7.5 | 5.8 | N/A | -7.0% |
| Others | 0.3 | 0.8 | 0.9 | 1.8 | 81.7% |
| Total | 7.4 | 11.7 | 24.3 | 40.2 | 75.8% |
Top Suppliers of Non-Silver Precious Metal Jewelry to the Philippines in 2022:
- United Arab Emirates (undefined tons)
- Italy (14.4 tons)
- United States (2.8 tons)
- Hong Kong SAR (0.4 tons)
- China (0.1 tons)
Exports of Non-Silver Precious Metal Jewelry in the Philippines
In 2022, the amount of non-silver precious metal jewelry exported from the Philippines dropped to 416 kg, which is down by -14.9% on the previous year's figure. Over the period under review, exports continue to indicate a dramatic slump. The growth pace was the most rapid in 2021 when exports increased by 131% against the previous year.
In value terms, non-silver precious metal jewelry exports surged to $19M in 2022. In general, exports showed a noticeable curtailment. The most prominent rate of growth was recorded in 2021 when exports increased by 62%.
| Export of Non-Silver Precious Metal Jewelry in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Italy | 14.3 | 7.9 | 11.4 | 18.2 | 8.4% |
| Singapore | 0.1 | N/A | 0.2 | 0.1 | 0.0% |
| Japan | 4.6 | 0.4 | 3.4 | N/A | -14.0% |
| Switzerland | 0.1 | N/A | N/A | N/A | 0% |
| Denmark | 0.2 | N/A | N/A | N/A | 0% |
| Others | 0.9 | 1.0 | 0.2 | 0.4 | -23.7% |
| Total | 20.1 | 9.3 | 15.2 | 18.7 | -2.4% |
Top Export Markets for Non-Silver Precious Metal Jewelry from the Philippines in 2022:
- Italy (394.0 kg)
- Singapore (7.0 kg)
- Japan (1.0 kg)
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