Silver Jewelry Price in the Dominican Republic - 2023

Silver Jewelry Price in the Dominican Republic (FOB) - 2023

In March 2023, the average silver jewelry export price amounted to $3.3M per ton, picking up by 15% against the previous month. In general, export price indicated significant growth from January 2023 to March 2023: its price increased at an average monthly rate of +34.0% over the last two months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on March 2023 figures, silver jewelry export price increased by +79.5% against January 2023 indices. The most prominent rate of growth was recorded in February 2023 when the average export price increased by 56% month-to-month. The export price peaked in March 2023.

Prices varied noticeably by the country of destination: the country with the highest price was the United States ($3.4M per ton), while the average price for exports to the UK stood at $298K per ton.

From January 2023 to March 2023, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+61.3%).

Silver Jewelry Price in the Dominican Republic (CIF) - 2022

The average silver jewelry import price stood at $1,753,609 per ton in 2022, remaining stable against the previous year. Over the period under review, the import price continues to indicate a notable expansion. The most prominent rate of growth was recorded in 2019 when the average import price increased by 82% against the previous year. As a result, import price reached the peak level of $2,942 per kg. From 2020 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($1,865,291 per ton), while the price for Italy totaled $803,650 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+3.5%).

Silver Jewelry Exports in the Dominican Republic

In 2022, approx. 26 tons of silver jewelry were exported from the Dominican Republic; which is down by -12.1% compared with the year before. Overall, exports faced a sharp contraction. The growth pace was the most rapid in 2021 when exports increased by 33% against the previous year.

In value terms, silver jewelry exports totaled $20M in 2022. Over the period under review, exports recorded a precipitous shrinkage.

Export of Silver Jewelry in the Dominican Republic (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	46.5	20.0	19.4	18.6	-26.3%
Others	0.7	0.2	0.2	1.3	22.9%
Total	47.3	20.2	19.6	19.9	-25.1%

Top Export Markets for Silver Jewelry from the Dominican Republic in 2022:

United States (23.8 tons)

Silver Jewelry Imports in the Dominican Republic

In 2022, after three years of growth, there was significant decline in supplies from abroad of silver jewelry, when their volume decreased by -9.6% to 27 tons. Overall, imports, however, saw a significant expansion. The growth pace was the most rapid in 2020 when imports increased by 86% against the previous year.

In value terms, silver jewelry imports reduced to $47M in 2022. The total import value increased at an average annual rate of +4.9% from 2019 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 23%. As a result, imports attained the peak of $51M, and then contracted in the following year.

Import of Silver Jewelry in the Dominican Republic (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	39.8	41.3	49.2	44.3	3.6%
Italy	0.2	0.2	0.3	1.3	86.6%
China	0.1	0.1	1.3	0.2	26.0%
Others	0.4	0.3	0.6	1.0	35.7%
Total	40.4	41.9	51.5	46.7	4.9%