Saudi Arabia: Market for Non-Silver Precious Metal Non-Jewelry Articles 2024

Market Size for Non-Silver Precious Metal Non-Jewelry Articles in Saudi Arabia

In 2022, the Saudi market for non-silver precious metal non-jewelry articles decreased by X% to less than $X, falling for the second year in a row after three years of decline. Over the period under review, consumption, however, recorded a deep slump. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Non-Silver Precious Metal Non-Jewelry Articles in Saudi Arabia

In value terms, non-silver precious metal non-jewelry article production dropped sharply to less than $X in 2022 estimated in export price. Overall, production, however, recorded a abrupt slump. The most prominent rate of growth was recorded in 2020 when the production volume increased by X% against the previous year. Non-silver precious metal non-jewelry article production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Exports of Non-Silver Precious Metal Non-Jewelry Articles

Exports from Saudi Arabia

In 2021, shipments abroad of non-silver precious metal non-jewelry articles increased by X% to X kg, rising for the second consecutive year after two years of decline. Over the period under review, exports, however, continue to indicate a pronounced downturn. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, non-silver precious metal non-jewelry article exports fell notably to $X in 2021. Overall, exports, however, recorded a deep contraction. The most prominent rate of growth was recorded in 2017 when exports increased by X%. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X kg) was the main destination for non-silver precious metal non-jewelry article exports from Saudi Arabia, accounting for a X% share of total exports. Moreover, non-silver precious metal non-jewelry article exports to the United Arab Emirates exceeded the volume sent to the second major destination, Lebanon (X kg), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United Arab Emirates totaled X%.

In value terms, the largest markets for non-silver precious metal non-jewelry article exported from Saudi Arabia were the United Arab Emirates ($X) and Lebanon ($X).

Among the main countries of destination, Lebanon, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

In 2021, the average export price for non-silver precious metal non-jewelry articles amounted to $X per kg, falling by X% against the previous year. Overall, the export price recorded a abrupt contraction. The most prominent rate of growth was recorded in 2014 an increase of X%. As a result, the export price reached the peak level of $X per kg. From 2015 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Lebanon ($X per kg), while the average price for exports to the United Arab Emirates totaled $X per kg.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Lebanon (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Non-Silver Precious Metal Non-Jewelry Articles

Imports into Saudi Arabia

In 2019, imports of non-silver precious metal non-jewelry articles into Saudi Arabia skyrocketed to X tons, picking up by X% against the previous year. In general, imports saw significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, non-silver precious metal non-jewelry article imports surged to $X in 2019. Over the period under review, imports showed a resilient increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Switzerland (X tons) and the United Arab Emirates (X tons) were the main suppliers of non-silver precious metal non-jewelry article imports to Saudi Arabia. Moreover, non-silver precious metal non-jewelry article imports in Switzerland exceeded the figures recorded by the second-largest supplier, the United Arab Emirates, twofold.

From 2012 to 2017, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United Arab Emirates (with a CAGR of X%).

In value terms, Switzerland ($X) constituted the largest supplier of non-silver precious metal non-jewelry articles to Saudi Arabia, comprising X% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total imports.

From 2012 to 2017, the average annual rate of growth in terms of value from Switzerland stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (X% per year) and Singapore (X% per year).

Import Prices by Country

The average import price for non-silver precious metal non-jewelry articles stood at $X per kg in 2017, leveling off at the previous year. Over the period under review, the import price faced a drastic downturn. The pace of growth appeared the most rapid in 2015 when the average import price increased by X%. The import price peaked at $X per kg in 2012; however, from 2013 to 2017, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2017, amid the top importers, the country with the highest price was Switzerland ($X per kg), while the price for the United Arab Emirates stood at $X per kg.

From 2012 to 2017, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%).

Source: IndexBox Platform

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