Silver Jewelry Price in Hong Kong SAR - 2023
Contents:
- Silver Jewelry Price in Hong Kong SAR (CIF) - 2022
- Silver Jewelry Price in Hong Kong SAR (FOB) - 2023
- Silver Jewelry Imports in Hong Kong SAR
- Silver Jewelry Exports in Hong Kong SAR
Silver Jewelry Price in Hong Kong SAR (CIF) - 2022
The average silver jewelry import price stood at $13,022,809 per ton in 2022, increasing by 147% against the previous year. Overall, the import price recorded a strong increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.
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 India ($30,575,618 per ton), while the price for Italy ($1,385,315 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+3.0%), while the prices for the other major suppliers experienced a decline.
Silver Jewelry Price in Hong Kong SAR (FOB) - 2023
In June 2023, the average silver jewelry export price amounted to $2.2M per ton, declining by -10.6% against the previous month. Over the period under review, the export price, however, saw a slight expansion. The most prominent rate of growth was recorded in February 2023 when the average export price increased by 87% m-o-m. As a result, the export price attained the peak level of $4,687 per kg; afterwards, it flattened through to June 2023.
Prices varied noticeably by the country of destination: the country with the highest price was China ($3.7M per ton), while the average price for exports to Macao SAR ($592K 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 China (+9.8%), while the prices for the other major destinations experienced more modest paces of growth.
Silver Jewelry Imports in Hong Kong SAR
In 2022, overseas purchases of silver jewelry decreased by -43.6% to 244 tons for the first time since 2018, thus ending a three-year rising trend. In general, imports, however, posted buoyant growth. The most prominent rate of growth was recorded in 2021 with an increase of 69% against the previous year. As a result, imports reached the peak of 432 tons, and then fell notably in the following year.
In value terms, silver jewelry imports skyrocketed to $3.2B in 2022. Overall, imports, however, enjoyed significant growth. The pace of growth was the most pronounced in 2021 with an increase of 96%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.
| Import of Silver Jewelry in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 417 | 807 | 1,641 | 2,745 | 87.4% |
| China | 166 | 235 | 477 | 261 | 16.3% |
| Thailand | 43.9 | 34.4 | 39.9 | 40.1 | -3.0% |
| Italy | 33.0 | 26.2 | 39.5 | 34.7 | 1.7% |
| United Arab Emirates | 8.0 | 4.3 | 2.5 | 25.8 | 47.7% |
| United States | 51.7 | 20.8 | 25.7 | 20.7 | -26.3% |
| Germany | 3.2 | 3.7 | 6.6 | 8.6 | 39.0% |
| Others | 38.0 | 31.7 | 45.3 | 41.5 | 3.0% |
| Total | 761 | 1,163 | 2,277 | 3,178 | 61.0% |
Top Suppliers of Silver Jewelry to Hong Kong SAR in 2022:
- China (96.8 tons)
- India (89.8 tons)
- Italy (25.1 tons)
- Thailand (8.9 tons)
- Germany (5.0 tons)
- United Arab Emirates (4.2 tons)
- United States (3.8 tons)
Silver Jewelry Exports in Hong Kong SAR
In 2022, approx. 156 tons of silver jewelry were exported from Hong Kong SAR; shrinking by -19.5% against 2021 figures. Overall, exports showed a deep downturn. The growth pace was the most rapid in 2021 with an increase of 15%.
In value terms, silver jewelry exports dropped notably to $373M in 2022. In general, exports recorded a deep downturn. The growth pace was the most rapid in 2020 with an increase of 1.3% against the previous year. As a result, the exports reached the peak of $448M. From 2021 to 2022, the growth of the exports failed to regain momentum.
| Export of Silver Jewelry in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 210 | 116 | 181 | 139 | -12.9% |
| China | 48.4 | 47.6 | 60.5 | 44.2 | -3.0% |
| Germany | 21.8 | 21.4 | 26.6 | 28.8 | 9.7% |
| France | 18.6 | 18.0 | 24.7 | 23.3 | 7.8% |
| United Kingdom | 20.6 | 21.1 | 22.8 | 20.2 | -0.7% |
| Italy | 12.8 | 9.5 | 15.4 | 17.4 | 10.8% |
| Canada | 8.7 | 11.3 | 14.2 | 16.2 | 23.0% |
| Spain | 17.5 | 9.1 | 21.8 | 14.4 | -6.3% |
| Australia | 8.1 | 7.3 | 11.2 | 12.2 | 14.6% |
| Russia | 5.7 | 11.6 | 4.6 | 3.5 | -15.0% |
| Thailand | 11.8 | 9.7 | 9.1 | 2.8 | -38.1% |
| Brazil | 0.3 | 0.3 | 0.6 | 2.5 | 102.7% |
| Others | 58.1 | 165 | 47.8 | 48.3 | -6.0% |
| Total | 442 | 448 | 440 | 373 | -5.5% |
Top Export Markets for Silver Jewelry from Hong Kong SAR in 2022:
- United States (56.1 tons)
- China (19.3 tons)
- Germany (13.5 tons)
- France (9.5 tons)
- Italy (9.2 tons)
- Spain (8.9 tons)
- United Kingdom (6.4 tons)
- Australia (3.2 tons)
- Canada (3.1 tons)
- Brazil (2.6 tons)
- Russia (2.1 tons)
- Thailand (1.0 tons)
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