Africa: Semi-Manufactured Silver Market 2024

Semi-Manufactured Silver Market Size in Africa

The African semi-manufactured silver market rose markedly to $X in 2023, with an increase of X% against the previous year. In general, consumption posted strong growth. The level of consumption peaked at $X in 2021; however, from 2022 to 2023, consumption failed to regain momentum.

Semi-Manufactured Silver Production in Africa

In value terms, semi-manufactured silver production totaled $X in 2023 estimated in export price. Over the period under review, production recorded prominent growth. The pace of growth was the most pronounced in 2018 with an increase of X%. Over the period under review, production reached the maximum level at $X in 2021; however, from 2022 to 2023, production failed to regain momentum.

Semi-Manufactured Silver Exports

Exports in Africa

In 2023, after three years of growth, there was significant decline in shipments abroad of silver in semi-manufactured forms, when their volume decreased by X% to X tons. Over the period under review, exports continue to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons, and then dropped sharply in the following year.

In value terms, semi-manufactured silver exports dropped rapidly to $X in 2023. Overall, exports recorded a abrupt contraction. The pace of growth was the most pronounced in 2017 with an increase of X%. The level of export peaked at $X in 2022, and then dropped rapidly in the following year.

Exports by Country

South Africa was the largest exporting country with an export of about X tons, which amounted to X% of total exports. It was distantly followed by Burkina Faso (X tons), mixing up a X% share of total exports. Uganda (X kg) took a minor share of total exports.

From 2012 to 2023, average annual rates of growth with regard to semi-manufactured silver exports from South Africa stood at X%. At the same time, Burkina Faso (X%) and Uganda (X%) displayed positive paces of growth. Moreover, Burkina Faso emerged as the fastest-growing exporter exported in Africa, with a CAGR of X% from 2012-2023. From 2012 to 2023, the share of South Africa, Burkina Faso and Uganda increased by X, X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) remains the largest semi-manufactured silver supplier in Africa, comprising X% of total exports. The second position in the ranking was held by Burkina Faso ($X), with a X% share of total exports.

In South Africa, semi-manufactured silver exports increased at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Burkina Faso (X% per year) and Uganda (X% per year).

Export Prices by Country

In 2023, the export price in Africa amounted to $X per ton, rising by X% against the previous year. Export price indicated slight growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, semi-manufactured silver export price decreased by X% against 2021 indices. The pace of growth was the most pronounced in 2020 when the export price increased by X%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2023, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Uganda ($X,072 per ton), while South Africa ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Uganda (X%), while the other leaders experienced more modest paces of growth.

Semi-Manufactured Silver Imports

Imports in Africa

Semi-manufactured silver imports declined dramatically to X tons in 2023, with a decrease of X% on 2022 figures. Total imports indicated temperate growth from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The volume of import peaked at X tons in 2020; however, from 2021 to 2023, imports failed to regain momentum.

In value terms, semi-manufactured silver imports dropped to $X in 2023. Total imports indicated measured growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2021 indices. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2023, the growth of imports failed to regain momentum.

Imports by Country

The countries with the highest levels of semi-manufactured silver imports in 2023 were Tunisia (X tons), South Africa (X tons) and Algeria (X tons), together reaching X% of total import. Egypt (X tons) held the next position in the ranking, followed by Morocco (X tons). All these countries together held approx. X% share of total imports. Mauritius (X tons) and Ghana (X tons) took a little share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Tunisia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest semi-manufactured silver importing markets in Africa were Egypt ($X), South Africa ($X) and Tunisia ($X), together comprising X% of total imports.

Tunisia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Africa stood at $X per ton in 2023, rising by X% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2016; however, from 2017 to 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Mauritius ($X,731 per ton), while Ghana ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Mauritius (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform