Silver Jewelry Price in the UK - 2023
Contents:
- Silver Jewelry Price in the UK (CIF) - 2022
- Silver Jewelry Price in the UK (FOB) - 2022
- Silver Jewelry Imports in the UK
- Silver Jewelry Exports in the UK
Silver Jewelry Price in the UK (CIF) - 2022
In 2022, the average silver jewelry import price amounted to $727,084 per ton, rising by 22% against the previous year. Overall, the import price posted a significant increase. The most prominent rate of growth was recorded in 2021 when the average import price increased by 84%. Over the period under review, average import prices reached the maximum in 2022 and is expected to retain 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 ($1,155,567 per ton), while the price for Denmark ($284,526 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Denmark (+26.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Silver Jewelry Price in the UK (FOB) - 2022
The average silver jewelry export price stood at $602,215 per ton in 2022, increasing by 35% against the previous year. In general, the export price showed a prominent expansion. The pace of growth appeared the most rapid in 2021 an increase of 137%. Over the period under review, the average export prices hit record highs in 2022 and is likely to see steady growth in the near future.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong SAR ($3,094,744 per ton), while the average price for exports to Sweden ($34,582 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 United States (+31.0%), while the prices for the other major destinations experienced more modest paces of growth.
Silver Jewelry Imports in the UK
For the third consecutive year, the UK recorded decline in purchases abroad of silver jewelry, which decreased by -18.6% to 575 tons in 2022. Over the period under review, imports showed a sharp contraction.
In value terms, silver jewelry imports reduced modestly to $418M in 2022. In general, imports showed a abrupt decrease.
| Import of Silver Jewelry in the UK (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Thailand | 44.5 | 36.3 | 125 | 192 | 62.8% |
| India | 51.6 | 38.4 | 62.2 | 60.3 | 5.3% |
| China | 42.6 | 33.2 | 45.9 | 59.4 | 11.7% |
| Italy | 24.2 | 30.1 | 45.4 | 44.1 | 22.1% |
| Germany | 315 | 333 | 57.6 | 6.4 | -72.7% |
| Denmark | 9.2 | 1.7 | 1.0 | 0.6 | -59.7% |
| Others | 82.6 | 90.3 | 84.4 | 55.4 | -12.5% |
| Total | 570 | 563 | 422 | 418 | -9.8% |
Top Suppliers of Silver Jewelry to the UK in 2022:
- Thailand (228.4 tons)
- China (162.7 tons)
- Italy (61.9 tons)
- India (52.2 tons)
- Germany (13.9 tons)
- Denmark (2.0 tons)
Silver Jewelry Exports in the UK
In 2022, shipments abroad of silver jewelry was finally on the rise to reach 176 tons after two years of decline. Over the period under review, exports, however, continue to indicate a significant contraction.
In value terms, silver jewelry exports surged to $106M in 2022. Overall, exports, however, continue to indicate a relatively flat trend pattern.
| Export of Silver Jewelry in the UK (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 15.8 | 9.9 | 19.1 | 34.5 | 29.7% |
| Hong Kong SAR | 4.6 | 5.5 | 7.4 | 10.5 | 31.7% |
| Ireland | 10.0 | 9.6 | 8.7 | 9.1 | -3.1% |
| Germany | 31.0 | 30.6 | 6.4 | 8.7 | -34.5% |
| Netherlands | 0.8 | 0.9 | 6.5 | 4.5 | 77.8% |
| France | 7.6 | 5.8 | 2.9 | 3.8 | -20.6% |
| Italy | 13.2 | 17.6 | 2.0 | 3.1 | -38.3% |
| Bahrain | N/A | N/A | 0.1 | 2.8 | 2700.0% |
| China | 2.1 | 1.1 | 3.6 | 2.6 | 7.4% |
| Belgium | 1.8 | 0.9 | 1.1 | 1.9 | 1.8% |
| Sweden | 0.2 | 0.2 | 0.5 | 0.3 | 14.5% |
| Spain | 3.6 | 3.3 | 0.4 | 0.3 | -56.3% |
| Poland | 1.6 | 2.2 | 0.2 | 0.2 | -50.0% |
| Others | 15.1 | 12.6 | 16.4 | 23.9 | 16.5% |
| Total | 107 | 100 | 75.2 | 106 | -0.3% |
Top Export Markets for Silver Jewelry from the UK in 2022:
- Germany (65.5 tons)
- Ireland (29.7 tons)
- United States (13.6 tons)
- Bahrain (11.2 tons)
- Sweden (10.0 tons)
- Netherlands (7.3 tons)
- Belgium (4.3 tons)
- France (4.2 tons)
- Italy (3.6 tons)
- Hong Kong SAR (3.4 tons)
- China (3.3 tons)
- Spain (2.0 tons)
- Poland (0.8 tons)
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