Silver Jewelry Price in Malaysia - 2021
Contents:
- Silver Jewelry Price in Malaysia (CIF) - 2021
- Silver Jewelry Price in Malaysia (FOB) - 2022
- Silver Jewelry Imports in Malaysia
- Silver Jewelry Exports in Malaysia
Silver Jewelry Price in Malaysia (CIF) - 2021
In December 2021, the average silver jewelry import price amounted to $11.0M per ton, which is down by -40.7% against the previous month. Over the period under review, the import price, however, enjoyed a perceptible expansion. The growth pace was the most rapid in August 2021 when the average import price increased by 173% against the previous month. Over the period under review, average import prices hit record highs at $22.5M per ton in April 2021; afterwards, it flattened through to December 2021.
Prices varied noticeably by the country of origin: the country with the highest price was Hong Kong SAR ($25.8M per ton), while the price for Switzerland ($3.4M per ton) was amongst the lowest.
From December 2020 to December 2021, the most notable rate of growth in terms of prices was attained by China (+7.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Silver Jewelry Price in Malaysia (FOB) - 2022
The average silver jewelry export price stood at $766,581 per ton in 2022, dropping by -53.5% against the previous year. Over the period under review, the export price showed a deep slump. The most prominent rate of growth was recorded in 2019 when the average export price increased by 48% against the previous year. As a result, the export price attained the peak level of $1,785 per kg. From 2020 to 2022, the average export prices remained at a lower figure.
There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($5,423,719 per ton), while the average price for exports to Brunei Darussalam ($163,212 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 the Philippines (+23.5%), while the prices for the other major destinations experienced more modest paces of growth.
Silver Jewelry Imports in Malaysia
In 2022, silver jewelry imports into Malaysia reduced notably to 9.1 tons, waning by -19.5% against 2021 figures. Over the period under review, imports recorded a noticeable contraction. The pace of growth appeared the most rapid in 2021 with an increase of 56% against the previous year. As a result, imports reached the peak of 11 tons, and then contracted significantly in the following year.
In value terms, silver jewelry imports fell rapidly to $24M in 2022. Overall, total imports indicated a buoyant expansion from 2019 to 2022: its value increased at an average annual rate of +9.3% 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 +30.6% against 2019 indices. The growth pace was the most rapid in 2021 when imports increased by 52%. As a result, imports reached the peak of $29M, and then fell markedly in the following year.
Import of Silver Jewelry in Malaysia (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
China | 1.2 | 3.3 | 10.3 | 11.5 | 112.4% |
Hong Kong SAR | 0.3 | 0.4 | 1.8 | 1.8 | 81.7% |
Italy | 0.3 | 0.3 | 0.2 | 1.6 | 74.7% |
India | 0.8 | 1.2 | 3.1 | 1.3 | 17.6% |
Singapore | 0.5 | 0.8 | 4.3 | 1.2 | 33.9% |
United States | 0.1 | 0.1 | 0.3 | 0.8 | 100.0% |
Spain | 0.2 | 0.1 | N/A | 0.2 | 0.0% |
Thailand | 12.7 | 10.6 | 7.3 | N/A | -24.2% |
Indonesia | 0.1 | 0.1 | 0.2 | N/A | 41.4% |
Others | 2.2 | 2.1 | 1.4 | 5.6 | 36.5% |
Total | 18.3 | 19.0 | 28.8 | 23.9 | 9.3% |
Top Suppliers of Silver Jewelry to Malaysia in 2022:
- China (4.4 tons)
- Singapore (1.3 tons)
- India (0.7 tons)
- United States (0.6 tons)
- Italy (0.4 tons)
- Spain (0.4 tons)
- Hong Kong SAR (0.2 tons)
Silver Jewelry Exports in Malaysia
Silver jewelry exports from Malaysia skyrocketed to 1.8 tons in 2022, increasing by 127% on the previous year's figure. Over the period under review, exports recorded a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, silver jewelry exports rose notably to $1.4M in 2022. The total export value increased at an average annual rate of +3.1% over the period from 2019 to 2022; however, the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The growth pace was the most rapid in 2020 when exports increased by 15%. As a result, the exports reached the peak of $1.4M; afterwards, it flattened through to 2022.
Export of Silver Jewelry in Malaysia (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Singapore | 273 | 613 | 210 | 532 | 24.9% |
United States | 187 | 75.4 | 69.8 | 354 | 23.7% |
Hong Kong SAR | 91.3 | 189 | 610 | 174 | 24.0% |
Brunei Darussalam | N/A | 0.2 | 10.0 | 135 | 2498.1% |
Philippines | 119 | 39.1 | 0.4 | 7.0 | -61.1% |
Others | 583 | 527 | 400 | 171 | -33.6% |
Total | 1,253 | 1,444 | 1,300 | 1,372 | 3.1% |
Top Export Markets for Silver Jewelry from Malaysia in 2022:
- Brunei Darussalam (827.0 kg)
- Singapore (556.0 kg)
- United States (292.0 kg)
- Hong Kong SAR (32.0 kg)
- Philippines (5.0 kg)
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