Silver Jewelry Price in the United States - 2023

Contents:

1. Silver Jewelry Price in the United States (CIF) - 2022
2. Silver Jewelry Price in the United States (FOB) - 2023
3. Silver Jewelry Imports in the United States
4. Silver Jewelry Exports in the United States

Silver Jewelry Price in the United States (CIF) - 2022

The average silver jewelry import price stood at $1,139,501 per ton in 2022, increasing by 30% against the previous year. Overall, the import price, however, recorded a pronounced decrease. Over the period under review, average import prices hit record highs at $1,745,729 per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

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 Mexico ($1,904,918 per ton), while the price for Taiwan (Chinese) ($371,210 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+0.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Silver Jewelry Price in the United States (FOB) - 2023

In August 2023, the average silver jewelry export price amounted to $1.2M per ton, rising by 2.6% against the previous month. Overall, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in June 2023 an increase of 9.6% month-to-month. As a result, the export price reached the peak level of $1,329 per kg; afterwards, it flattened through to August 2023.

Prices varied noticeably by the country of destination: the country with the highest price was Chile ($2.9M per ton), while the average price for exports to Canada ($850K per ton) was amongst the lowest.

From August 2022 to August 2023, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (+2.2%), while the prices for the other major destinations experienced more modest paces of growth.

Silver Jewelry Imports in the United States

In 2022, the amount of silver jewelry imported into the United States declined notably to 1.6K tons, waning by -28.8% on the year before. In general, imports showed a mild decline. The most prominent rate of growth was recorded in 2021 with an increase of 58%. As a result, imports reached the peak of 2.2K tons, and then fell remarkably in the following year.

In value terms, silver jewelry imports reduced to $1.8B in 2022. Over the period under review, total imports indicated strong growth from 2019 to 2022: its value increased at an average annual rate of +5.7% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +37.7% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 49% against the previous year. As a result, imports attained the peak of $1.9B, and then dropped in the following year.

Top Suppliers of Silver Jewelry to the United States in 2022:

1. China (513.1 tons)
2. Thailand (371.9 tons)
3. India (222.2 tons)
4. Italy (163.7 tons)
5. Taiwan (Chinese) (52.4 tons)
6. Indonesia (50.3 tons)
7. Spain (26.6 tons)

Silver Jewelry Exports in the United States

In 2022, silver jewelry exports from the United States skyrocketed to 451 tons, increasing by 21% compared with 2021 figures. In general, total exports indicated strong growth from 2019 to 2022: its volume increased at an average annual rate of +9.2% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +54.3% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 28%. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, silver jewelry exports surged to $572M in 2022. The total export value increased at an average annual rate of +2.8% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when exports increased by 26% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in years to come.

Top Export Markets for Silver Jewelry from the United States in 2022:

1. Canada (144.3 tons)
2. Mexico (76.7 tons)
3. Japan (50.7 tons)
4. United Kingdom (18.5 tons)
5. Dominican Republic (18.1 tons)
6. Hong Kong SAR (17.5 tons)
7. Chile (15.0 tons)
8. Germany (11.2 tons)
9. India (10.3 tons)
10. Thailand (9.8 tons)
11. Netherlands (7.8 tons)
12. China (6.8 tons)

Source: IndexBox Market Intelligence Platform