United Arab Emirates: Semi-Manufactured Silver Market 2024

Semi-Manufactured Silver Market Size in the United Arab Emirates

The semi-manufactured silver market in the United Arab Emirates was estimated at $X in 2023, growing by X% against the previous year. Over the period under review, consumption enjoyed buoyant growth. Over the period under review, the market hit record highs in 2023 and is expected to retain growth in years to come.

Semi-Manufactured Silver Production in the United Arab Emirates

In value terms, semi-manufactured silver production totaled $X in 2023 estimated in export price. In general, production continues to indicate a significant increase. The most prominent rate of growth was recorded in 2015 with an increase of X%. Semi-manufactured silver production peaked at $X in 2018; however, from 2019 to 2023, production remained at a lower figure.

Semi-Manufactured Silver Exports

Exports from the United Arab Emirates

In 2023, after five years of decline, there was growth in overseas shipments of silver in semi-manufactured forms, when their volume increased by X% to X tons. Over the period under review, exports, however, continue to indicate a deep reduction. The pace of growth was the most pronounced in 2015 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2023, the exports stood at a somewhat lower figure.

In value terms, semi-manufactured silver exports expanded to $X in 2023. Overall, exports, however, faced a abrupt shrinkage. The growth pace was the most rapid in 2015 with an increase of X%. The exports peaked at $X in 2017; however, from 2018 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Israel (X tons) and Turkey (X kg) were the main destinations of semi-manufactured silver exports from the United Arab Emirates.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Israel (with a CAGR of X.9%).

In value terms, Turkey ($X) and Israel ($X) appeared to be the largest markets for semi-manufactured silver exported from the United Arab Emirates worldwide.

Israel, with a CAGR of X.7%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review.

Export Prices by Country

In 2023, the average semi-manufactured silver export price amounted to $X per ton, shrinking by X% against the previous year. In general, the export price recorded a pronounced contraction. The pace of growth was the most pronounced in 2014 an increase of X% against the previous year. As a result, the export price attained the peak level of $X,660 per ton. From 2015 to 2023, the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major foreign markets. In 2023, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the average price for exports to Israel totaled $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Israel (X%), while the prices for the other major destinations experienced more modest paces of growth.

Semi-Manufactured Silver Imports

Imports into the United Arab Emirates

Semi-manufactured silver imports into the United Arab Emirates surged to X tons in 2023, increasing by X% on the year before. Overall, imports, however, showed a perceptible downturn. Imports peaked at X tons in 2012; however, from 2013 to 2023, imports remained at a lower figure.

In value terms, semi-manufactured silver imports skyrocketed to $X in 2023. In general, imports, however, recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2020 when imports increased by X%. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.

Imports by Country

In 2023, Italy (X tons) constituted the largest supplier of semi-manufactured silver to the United Arab Emirates, with a X% share of total imports. Moreover, semi-manufactured silver imports from Italy exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold. Turkey (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2023, the average annual growth rate of volume from Italy amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Turkey (X% per year).

In value terms, the largest semi-manufactured silver suppliers to the United Arab Emirates were the United States ($X), Italy ($X) and South Africa ($X), with a combined X% share of total imports. Turkey, Japan, Germany and Belgium lagged somewhat behind, together accounting for a further X%.

Turkey, with a CAGR of X%, recorded the highest rates of growth with regard to 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, jumping by X% against the previous year. Over the period under review, the import price, however, continues to indicate a abrupt decline. The pace of growth appeared the most rapid in 2020 when the average import price increased by 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.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was South Africa ($X,466 per ton), while the price for Japan ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform