Unwrought Silver Market in Saudi Arabia
Market Overview
The Saudi unwrought silver market stood at $
in , rising by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, recorded a prominent increase. As a result, consumption attained the peak level of $. From to , the growth of the market failed to regain momentum.
In value terms, unwrought silver production rose remarkably to $ in estimated in export price. Overall, production posted a prominent increase. The pace of growth was the most pronounced in 2013 when the production volume increased by % against the previous year. Unwrought silver production peaked at $ in ; however, from to , production stood at a somewhat lower figure.
in , rising by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, recorded a prominent increase. As a result, consumption attained the peak level of $. From to , the growth of the market failed to regain momentum.In value terms, unwrought silver production rose remarkably to $
in estimated in export price. Overall, production posted a prominent increase. The pace of growth was the most pronounced in 2013 when the production volume increased by % against the previous year. Unwrought silver production peaked at $ in ; however, from to , production stood at a somewhat lower figure.Consumption
After three years of growth, consumption of silver, unwrought or in powder form decreased by -% to tons in . In general, consumption, however, recorded temperate growth. Unwrought silver consumption peaked at tons in 2015; however, from 2016 to , consumption failed to regain momentum.
The revenue of the unwrought silver market in Saudi Arabia expanded modestly to $ in , surging by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, continues to indicate a resilient expansion. As a result, consumption attained the peak level of $. From to , the growth of the market remained at a lower figure.
% to tons in . In general, consumption, however, recorded temperate growth. Unwrought silver consumption peaked at tons in 2015; however, from 2016 to , consumption failed to regain momentum.The revenue of the unwrought silver market in Saudi Arabia expanded modestly to $
in , surging by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, continues to indicate a resilient expansion. As a result, consumption attained the peak level of $. From to , the growth of the market remained at a lower figure.Market Forecast
Driven by increasing demand for silver, unwrought or in powder form in Saudi Arabia, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to tons by the end of .
In value terms, the market is forecast to increase with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .
% for the period from to , which is projected to bring the market volume to tons by the end of .In value terms, the market is forecast to increase with an anticipated CAGR of +
% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .Market Structure
Affected by an intensive growth in domestic production, which will gradually displace imported products from the market, the share of imports decreased from % in 2007 to % in . Saudi Arabia domestic supply is expected to continue its growth.
% in 2007 to % in . Saudi Arabia domestic supply is expected to continue its growth.Trade Balance
Saudi Arabia remains a net importer of unwrought silver; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
. In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
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