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Philippines - Silver Including Silver Plated With Gold or Platinum - Market Analysis, Forecast, Size, Trends and Insights
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View PricingPhilippines: Silver Market 2024
Silver Market Size in the Philippines
The Philippine silver market skyrocketed to $X in 2023, picking up by X% against the previous year. Over the period under review, consumption showed a relatively flat trend pattern. Over the period under review, the market reached the peak level in 2023 and is expected to retain growth in the near future.
Silver Production in the Philippines
In value terms, silver production rose rapidly to $X in 2023 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2022 to 2023, production growth remained at a somewhat lower figure.
Silver Exports
Exports from the Philippines
In 2023, silver exports from the Philippines skyrocketed to X tons, jumping by X% compared with the year before. Over the period under review, exports, however, saw a deep downturn. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2023, the exports remained at a lower figure.
In value terms, silver exports surged to $X in 2023. Overall, exports, however, showed a abrupt decline. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2023, the exports failed to regain momentum.
Exports by Country
Hong Kong SAR (X tons) was the main destination for silver exports from the Philippines, with a X% share of total exports. Moreover, silver exports to Hong Kong SAR exceeded the volume sent to the second major destination, South Korea (X tons), threefold.
From 2012 to 2023, the average annual rate of growth in terms of volume to Hong Kong SAR stood at X%.
In value terms, Hong Kong SAR ($X) remains the key foreign market for silver including silver plated with gold or platinum exports from the Philippines, comprising X% of total exports. The second position in the ranking was held by South Korea ($X), with a X% share of total exports.
From 2012 to 2023, the average annual growth rate of value to Hong Kong SAR stood at X%.
Export Prices by Country
In 2023, the average silver export price amounted to $X per ton, shrinking by X% against the previous year. Overall, the export price showed a noticeable setback. The pace of growth appeared the most rapid in 2017 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2023, the export prices remained at a lower figure.
There were significant differences in the average prices for the major export markets. In 2023, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to South Korea stood at $X per ton.
From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (X%), while the prices for the other major destinations experienced a decline.
Silver Imports
Imports into the Philippines
In 2023, overseas purchases of silver including silver plated with gold or platinum were finally on the rise to reach X tons for the first time since 2020, thus ending a two-year declining trend. Over the period under review, imports showed a significant increase. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure in 2023 and are expected to retain growth in the near future.
In value terms, silver imports soared to $X in 2023. In general, imports posted a buoyant increase. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure in 2023 and are likely to see gradual growth in the near future.
Imports by Country
In 2023, Japan (X tons) constituted the largest supplier of silver to the Philippines, accounting for a X% share of total imports. Moreover, silver imports from Japan exceeded the figures recorded by the second-largest supplier, the United States (X tons), more than tenfold. The third position in this ranking was taken by Malaysia (X tons), with a X% share.
From 2012 to 2023, the average annual growth rate of volume from Japan totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Malaysia (X% per year).
In value terms, Japan ($X) constituted the largest supplier of silver including silver plated with gold or platinum to the Philippines, comprising X% of total imports. The second position in the ranking was taken by the United States ($X), with a X% share of total imports. It was followed by Germany, with a X% share.
From 2012 to 2023, the average annual growth rate of value from Japan totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Germany (X% per year).
Import Prices by Country
In 2023, the average silver import price amounted to $X per ton, waning by X% against the previous year. In general, the import price saw a deep slump. The most prominent rate of growth was recorded in 2021 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2023, import prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Thailand (X%), while the prices for the other major suppliers experienced mixed trend patterns.
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This report provides an in-depth analysis of the silver market in the Philippines. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 24411030 - Silver, unwrought or in powder form (including plated with gold or platinum)
- Prodcom 24411050 - Silver, in semi-manufactured forms (including plated with gold or platinum) (excluding unwrought or in powder form)
Country coverage:
- Philippines
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the Philippines
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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