Silver Jewelry Price in Kuwait - 2021

Contents:

1. Silver Jewelry Price in Kuwait (CIF) - 2022
2. Silver Jewelry Price in Kuwait (FOB) - 2022
3. Silver Jewelry Imports in Kuwait
4. Silver Jewelry Exports in Kuwait

Silver Jewelry Price in Kuwait (CIF) - 2022

In 2022, the average silver jewelry import price amounted to $2,161,875 per ton, increasing by 35% against the previous year. Over the period under review, import price indicated a strong increase from 2012 to 2022: its price increased at an average annual rate of +7.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, silver jewelry import price increased by +26.7% against 2018 indices. The most prominent rate of growth was recorded in 2013 an increase of 41% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is expected to retain growth in the near future.

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 Germany ($3,868,000 per ton), while the price for Spain ($396,359 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+11.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Silver Jewelry Price in Kuwait (FOB) - 2022

The average silver jewelry export price stood at $1,170,000 per ton in 2022, growing by 3.7% against the previous year. Overall, the export price enjoyed a measured expansion. The most prominent rate of growth was recorded in 2019 an increase of 185%. Over the period under review, the average export prices reached the maximum at $3,379,316 per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($4,535,000 per ton), while the average price for exports to Switzerland ($64,000 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Denmark (+3.1%), while the prices for the other major destinations experienced mixed trend patterns.

Silver Jewelry Imports in Kuwait

Silver jewelry imports into Kuwait fell sharply to 2.5 tons in 2022, waning by -47.6% on the previous year. Over the period under review, imports saw a slight reduction. The most prominent rate of growth was recorded in 2021 with an increase of 131% against the previous year. As a result, imports attained the peak of 4.8 tons, and then fell remarkably in the following year.

In value terms, silver jewelry imports contracted remarkably to $5.4M in 2022. In general, imports, however, enjoyed a resilient expansion. The pace of growth was the most pronounced in 2021 when imports increased by 138%. As a result, imports attained the peak of $7.6M, and then reduced notably in the following year.

Top Suppliers of Silver Jewelry to Kuwait in 2022:

1. Denmark (813.0 kg)
2. Italy (235.0 kg)
3. China (178.0 kg)
4. Ireland (124.0 kg)
5. France (84.0 kg)
6. United Kingdom (81.0 kg)
7. Turkey (58.0 kg)
8. Spain (39.0 kg)
9. Germany (28.0 kg)
10. United States (27.0 kg)

Silver Jewelry Exports in Kuwait

In 2022, shipments abroad of silver jewelry increased by 67% to 25 kg for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, showed a significant decrease.

In value terms, silver jewelry exports skyrocketed to $29K in 2022. Overall, exports, however, recorded a precipitous descent.

Top Export Markets for Silver Jewelry from Kuwait in 2022:

1. Canada (2.0 kg)
2. Italy (2.0 kg)
3. Germany (2.0 kg)
4. Singapore (1.0 kg)
5. Denmark (1.0 kg)
6. France (1.0 kg)
7. Switzerland (1.0 kg)
8. Bulgaria (1.0 kg)

Source: IndexBox Market Intelligence Platform