Price for Non-Silver Precious Metal Jewelry in Latvia - 2023
Contents:
- Price for Non-Silver Precious Metal Jewelry in Latvia (CIF) - 2023
- Price for Non-Silver Precious Metal Jewelry in Latvia (FOB) - 2023
- Imports of Non-Silver Precious Metal Jewelry in Latvia
- Exports of Non-Silver Precious Metal Jewelry in Latvia
Price for Non-Silver Precious Metal Jewelry in Latvia (CIF) - 2023
In October 2023, the average non-silver precious metal jewelry import price amounted to $57.7M per ton, reducing by -45.5% against the previous month. Over the period under review, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in April 2023 when the average import price increased by 145% against the previous month. As a result, import price attained the peak level of $146K per kg; afterwards, it flattened through to October 2023.
Prices varied noticeably by the country of origin: the country with the highest price was Belgium ($158M per ton), while the price for Vietnam ($33.7M per ton) was amongst the lowest.
From November 2022 to October 2023, the most notable rate of growth in terms of prices was attained by Belgium (+41.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Non-Silver Precious Metal Jewelry in Latvia (FOB) - 2023
In October 2023, the average non-silver precious metal jewelry export price amounted to $30.7M per ton, declining by -68% against the previous month. Over the period under review, the export price showed a abrupt downturn. The pace of growth appeared the most rapid in September 2023 an increase of 225% against the previous month. The export price peaked at $132M per ton in June 2023; however, from July 2023 to October 2023, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major foreign markets. In October 2023, the country with the highest price was Lithuania ($77.2M per ton), while the average price for exports to the Czech Republic ($16.0M per ton) was amongst the lowest.
From November 2022 to October 2023, the most notable rate of growth in terms of prices was recorded for supplies to Lithuania (+0.2%), while the prices for the other major destinations experienced a decline.
Imports of Non-Silver Precious Metal Jewelry in Latvia
In 2022, overseas purchases of non-silver precious metal jewelry were finally on the rise to reach 538 kg after two years of decline. In general, imports, however, saw a sharp decrease.
In value terms, non-silver precious metal jewelry imports surged to $28M in 2022. Over the period under review, imports, however, continue to indicate a abrupt shrinkage.
| Import of Non-Silver Precious Metal Jewelry in Latvia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Turkey | 23.2 | 5.5 | 5.4 | 12.4 | -18.8% |
| Italy | 5.1 | 4.1 | 3.9 | 5.3 | 1.3% |
| China | 1.3 | 1.6 | 1.7 | 2.1 | 17.3% |
| Hong Kong SAR | 0.8 | 0.6 | 0.6 | 1.3 | 17.6% |
| India | 0.3 | 0.4 | 0.4 | 1.2 | 58.7% |
| Estonia | 1.1 | 0.6 | 0.4 | 1.1 | 0.0% |
| Spain | 0.6 | 0.5 | 0.3 | 0.7 | 5.3% |
| Vietnam | 0.3 | 0.4 | 0.1 | 0.5 | 18.6% |
| Russia | 1.9 | 2.9 | 3.3 | 0.4 | -40.5% |
| Others | 2.5 | 1.7 | 1.6 | 3.1 | 7.4% |
| Total | 37.2 | 18.4 | 17.7 | 28.1 | -8.9% |
Top Suppliers of Non-Silver Precious Metal Jewelry to Latvia in 2022:
- Turkey (322.0 kg)
- Italy (67.0 kg)
- China (17.0 kg)
- Spain (16.0 kg)
- Vietnam (13.0 kg)
- Hong Kong SAR (13.0 kg)
- India (11.0 kg)
- Estonia (9.0 kg)
- Russia (6.0 kg)
Exports of Non-Silver Precious Metal Jewelry in Latvia
In 2022, shipments abroad of non-silver precious metal jewelry was finally on the rise to reach 234 kg for the first time since 2019, thus ending a two-year declining trend. Overall, exports showed buoyant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, non-silver precious metal jewelry exports soared to $11M in 2022. Over the period under review, exports recorded a prominent increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| Export of Non-Silver Precious Metal Jewelry in Latvia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Estonia | 3.2 | 3.7 | 3.6 | 4.8 | 14.5% |
| Czech Republic | 0.9 | N/A | 1.0 | 4.0 | 64.4% |
| Lithuania | 0.4 | 0.6 | 0.3 | 1.7 | 62.0% |
| Hungary | 1.1 | N/A | 0.5 | N/A | -32.6% |
| Others | 1.0 | 1.2 | 0.6 | 0.9 | -3.5% |
| Total | 6.7 | 5.6 | 5.9 | 11.4 | 19.4% |
Top Export Markets for Non-Silver Precious Metal Jewelry from Latvia in 2022:
- Czech Republic (117.0 kg)
- Estonia (72.0 kg)
- Lithuania (30.0 kg)
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