South-Eastern Asia: Semi-Manufactured Silver Market 2024

Semi-Manufactured Silver Market Size in South-Eastern Asia

The Southeast Asian semi-manufactured silver market expanded to $X in 2023, picking up by X% against the previous year. Over the period under review, consumption saw a notable increase. The level of consumption peaked at $X in 2019; however, from 2020 to 2023, consumption failed to regain momentum.

Semi-Manufactured Silver Production in South-Eastern Asia

In value terms, semi-manufactured silver production rose markedly to $X in 2023 estimated in export price. Over the period under review, production enjoyed buoyant growth. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The level of production peaked at $X in 2021; however, from 2022 to 2023, production stood at a somewhat lower figure.

Semi-Manufactured Silver Exports

Exports in South-Eastern Asia

In 2023, shipments abroad of silver in semi-manufactured forms decreased by X% to X tons, falling for the second consecutive year after four years of growth. Overall, exports, however, enjoyed a perceptible increase. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons. From 2022 to 2023, the growth of the exports remained at a lower figure.

In value terms, semi-manufactured silver exports reduced remarkably to $X in 2023. Over the period under review, exports, however, continue to indicate a slight expansion. The pace of growth was the most pronounced in 2020 when exports increased by X% against the previous year. The level of export peaked at $X in 2021; however, from 2022 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Singapore dominates exports structure, amounting to X tons, which was approx. X% of total exports in 2023. It was distantly followed by Indonesia (X tons), Thailand (X tons) and Lao People's Democratic Republic (X tons), together constituting a X% share of total exports. Malaysia (X tons) held a relatively small share of total exports.

Exports from Singapore increased at an average annual rate of X% from 2012 to 2023. At the same time, Malaysia (X%), Thailand (X%), Indonesia (X%) and Lao People's Democratic Republic (X%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of X% from 2012-2023. Lao People's Democratic Republic (X p.p.) and Thailand (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Lao People's Democratic Republic ($X), Singapore ($X) and Indonesia ($X) constituted the countries with the highest levels of exports in 2023, together accounting for X% of total exports.

Lao People's Democratic Republic, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2023, increasing by X% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2023, the export prices failed to regain momentum.

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 Lao People's Democratic Republic ($X,127 per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Lao People's Democratic Republic (X%), while the other leaders experienced a decline in the export price figures.

Semi-Manufactured Silver Imports

Imports in South-Eastern Asia

After two years of growth, purchases abroad of silver in semi-manufactured forms decreased by X% to X tons in 2023. Overall, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. From 2020 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, semi-manufactured silver imports shrank remarkably to $X in 2023. Over the period under review, imports saw a perceptible contraction. 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 in 2021; however, from 2022 to 2023, imports stood at a somewhat lower figure.

Imports by Country

Thailand was the key importer of silver in semi-manufactured forms in South-Eastern Asia, with the volume of imports resulting at X tons, which was near X% of total imports in 2023. Singapore (X tons) held the second position in the ranking, distantly followed by Malaysia (X tons), Indonesia (X tons) and the Philippines (X tons). All these countries together took approx. X% share of total imports.

Thailand experienced a relatively flat trend pattern with regard to volume of imports of silver in semi-manufactured forms. At the same time, the Philippines (X%), Malaysia (X%) and Indonesia (X%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of X% from 2012-2023. By contrast, Singapore (X%) illustrated a downward trend over the same period. While the share of Malaysia (X p.p.), the Philippines (X p.p.) and Indonesia (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Singapore (X p.p.) and Thailand (X p.p.) displayed negative dynamics.

In value terms, Thailand ($X) constitutes the largest market for imported silver in semi-manufactured forms in South-Eastern Asia, comprising X% of total imports. The second position in the ranking was held by Malaysia ($X), with a X% share of total imports. It was followed by Singapore, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Thailand stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: Malaysia (X% per year) and Singapore (X% per year).

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2023, reducing by X% against the previous year. Over the period under review, the import price recorded a perceptible decline. The most prominent rate of growth was recorded in 2020 when the import price increased by X%. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2023, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Malaysia ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Indonesia (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform