Price for Non-Silver Precious Metal Jewelry in India - 2023
Contents:
- Price for Non-Silver Precious Metal Jewelry in India (FOB) - 2023
- Price for Non-Silver Precious Metal Jewelry in India (CIF) - 2023
- Exports of Non-Silver Precious Metal Jewelry in India
- Imports of Non-Silver Precious Metal Jewelry in India
Price for Non-Silver Precious Metal Jewelry in India (FOB) - 2023
The average non-silver precious metal jewelry export price stood at $58.4M per ton in July 2023, falling by -17.1% against the previous month. Overall, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in May 2023 an increase of 29% m-o-m. As a result, the export price attained the peak level of $93,388 per kg; afterwards, it flattened through to July 2023.
There were significant differences in the average prices for the major foreign markets. In July 2023, the country with the highest price was Hong Kong SAR ($87.3M per ton), while the average price for exports to the United States ($48.6M per ton) was amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+3.7%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Non-Silver Precious Metal Jewelry in India (CIF) - 2023
In July 2023, the average non-silver precious metal jewelry import price amounted to $66.7M per ton, reducing by -12.2% against the previous month. Over the period under review, the import price continues to indicate a perceptible decline. The most prominent rate of growth was recorded in December 2022 when the average import price increased by 53% against the previous month. As a result, import price reached the peak level of $128K per kg; afterwards, it flattened through to July 2023.
Prices varied noticeably by the country of origin: the country with the highest price was Hong Kong SAR ($87.3M per ton), while the price for Italy ($42.2M per ton) was amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+5.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Non-Silver Precious Metal Jewelry in India
In 2022, approx. 134 tons of non-silver precious metal jewelry were exported from India; approximately reflecting 2021. In general, exports saw a dramatic setback. The most prominent rate of growth was recorded in 2021 when exports increased by 35% against the previous year.
In value terms, non-silver precious metal jewelry exports amounted to $9.2B in 2022. Overall, exports saw a abrupt decrease. The growth pace was the most rapid in 2021 with an increase of 48%.
| Export of Non-Silver Precious Metal Jewelry in India (Billion USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 1.6 | 1.4 | 3.2 | 3.1 | 24.7% |
| United Arab Emirates | 8.4 | 2.4 | 2.7 | 3.1 | -28.3% |
| Singapore | 0.4 | 0.2 | 0.5 | 0.7 | 20.5% |
| Hong Kong SAR | 0.9 | 0.8 | 0.5 | 0.4 | -23.7% |
| United Kingdom | 0.3 | 0.2 | 0.3 | 0.3 | 0.0% |
| Turkey | 0.1 | 0.1 | 0.1 | 0.2 | 26.0% |
| Malaysia | 0.1 | N/A | 0.1 | 0.2 | 26.0% |
| Others | 0.7 | 0.6 | 1.0 | 1.2 | 19.7% |
| Total | 12.4 | 5.7 | 8.4 | 9.2 | -9.5% |
Top Export Markets for Non-Silver Precious Metal Jewelry from India in 2022:
- United Arab Emirates (53.0 tons)
- United States (39.4 tons)
- Singapore (12.0 tons)
- United Kingdom (4.8 tons)
- Turkey (4.5 tons)
- Malaysia (3.1 tons)
- Hong Kong SAR (3.1 tons)
Imports of Non-Silver Precious Metal Jewelry in India
Non-silver precious metal jewelry imports into India soared to 14 tons in 2022, growing by 29% compared with the year before. Over the period under review, imports continue to indicate a significant expansion. The pace of growth was the most pronounced in 2021 with an increase of 158%. Imports peaked in 2022 and are expected to retain growth in the near future.
In value terms, non-silver precious metal jewelry imports surged to $827M in 2022. In general, imports enjoyed prominent growth. The most prominent rate of growth was recorded in 2021 when imports increased by 68% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to see gradual growth in years to come.
| Import of Non-Silver Precious Metal Jewelry in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Arab Emirates | 297 | 89.2 | 202 | 260 | -4.3% |
| United States | 111 | 93.5 | 138 | 226 | 26.7% |
| Qatar | 7.1 | 44.9 | 14.2 | 74.7 | 119.1% |
| Bahrain | 18.6 | N/A | 39.5 | 55.5 | 44.0% |
| Italy | 9.8 | 13.6 | 28.3 | 42.5 | 63.1% |
| Thailand | 4.2 | 2.1 | 1.6 | 20.6 | 69.9% |
| Hong Kong SAR | 39.6 | 22.2 | 27.1 | 19.9 | -20.5% |
| Singapore | 8.7 | 0.6 | 1.6 | 18.5 | 28.6% |
| Others | 41.7 | 35.7 | 55.7 | 109 | 37.8% |
| Total | 537 | 302 | 508 | 827 | 15.5% |
Top Suppliers of Non-Silver Precious Metal Jewelry to India in 2022:
- United Arab Emirates (6.9 tons)
- United States (3.1 tons)
- Italy (1.0 tons)
- Singapore (0.6 tons)
- Qatar (0.4 tons)
- Hong Kong SAR (0.4 tons)
- Bahrain (0.3 tons)
- Thailand (0.3 tons)
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