Norway: Semi-Manufactured Silver Market 2024

Semi-Manufactured Silver Market Size in Norway

The Norwegian semi-manufactured silver market skyrocketed to $X in 2023, increasing by X% against the previous year. Over the period under review, consumption enjoyed resilient growth. Over the period under review, the market reached the maximum level at $X in 2021; however, from 2022 to 2023, consumption stood at a somewhat lower figure.

Semi-Manufactured Silver Production in Norway

In value terms, semi-manufactured silver production skyrocketed to $X in 2023 estimated in export price. In general, production showed a resilient expansion. The growth pace was the most rapid in 2021 with an increase of X%. As a result, production reached the peak level of $X. From 2022 to 2023, production growth remained at a somewhat lower figure.

Semi-Manufactured Silver Exports

Exports from Norway

After two years of growth, shipments abroad of silver in semi-manufactured forms decreased by X% to X tons in 2023. Over the period under review, exports saw a deep reduction. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

In value terms, semi-manufactured silver exports declined notably to $X in 2023. In general, exports showed a deep setback. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

Exports by Country

Sweden (X tons) was the main destination for semi-manufactured silver exports from Norway, with a X% share of total exports. Moreover, semi-manufactured silver exports to Sweden exceeded the volume sent to the second major destination, Saudi Arabia (X kg), more than tenfold. The third position in this ranking was held by Poland (X kg), with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to Sweden totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (X% per year) and Poland (X% per year).

In value terms, Sweden ($X) remains the key foreign market for silver in semi-manufactured forms exports from Norway, comprising X% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a X% share of total exports. It was followed by Poland, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value to Sweden stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (X% per year) and Poland (X% per year).

Export Prices by Country

The average semi-manufactured silver export price stood at $X per ton in 2023, growing by X% against the previous year. Overall, the export price, however, recorded a noticeable downturn. The growth pace was the most rapid in 2020 an increase of X% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2023, the export prices remained at a lower figure.

Average prices varied somewhat for the major external markets. In 2023, amid the top suppliers, the countries with the highest prices were Poland ($X per ton) and Denmark ($X per ton), while the average price for exports to Saudi Arabia ($X per ton) and Sweden ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (X%), while the prices for the other major destinations experienced mixed trend patterns.

Semi-Manufactured Silver Imports

Imports into Norway

For the third year in a row, Norway recorded decline in overseas purchases of silver in semi-manufactured forms, which decreased by X% to X tons in 2023. In general, imports recorded a deep reduction. The pace of growth appeared the most rapid in 2020 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2023, imports remained at a lower figure.

In value terms, semi-manufactured silver imports reached $X in 2023. Overall, imports faced a abrupt decrease. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2023, imports remained at a lower figure.

Imports by Country

Italy (X tons), Germany (X tons) and Hungary (X tons) were the main suppliers of semi-manufactured silver imports to Norway, together accounting for X% of total imports. Denmark, France, Turkey, Sweden and the United States lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the biggest increases were recorded for Denmark (with a CAGR of X%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest semi-manufactured silver suppliers to Norway were Germany ($X), Italy ($X) and Denmark ($X), with a combined X% share of total imports.

Denmark, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the average semi-manufactured silver import price amounted to $X per ton, with an increase of X% against the previous year. In general, the import price, however, showed a noticeable shrinkage. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2023, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Turkey ($X,105 per ton), while the price for Hungary ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform