Silver Jewelry Price in Thailand - 2023

Silver Jewelry Price in Thailand (FOB) - 2022

In 2022, the average silver jewelry export price amounted to $1,360,811 per ton, growing by 9.7% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the average export price increased by 98%. Over the period under review, the average export prices hit record highs at $3,825,383 per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Denmark ($3,161,452 per ton), while the average price for exports to Spain ($309,898 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+5.9%), while the prices for the other major destinations experienced more modest paces of growth.

Silver Jewelry Price in Thailand (CIF) - 2022

The average silver jewelry import price stood at $1,180,394 per ton in 2022, shrinking by -2% against the previous year. Overall, the import price recorded a slight curtailment. The growth pace was the most rapid in 2020 when the average import price increased by 19%. Over the period under review, average import prices hit record highs at $1,325,400 per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($1,267,027 per ton), while the price for China ($635,579 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+1.8%), while the prices for the other major suppliers experienced a decline.

Silver Jewelry Exports in Thailand

After three years of growth, overseas shipments of silver jewelry decreased by -7.2% to 1.3K tons in 2022. The total export volume increased at an average annual rate of +10.6% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when exports increased by 25% against the previous year.

In value terms, silver jewelry exports rose to $1.7B in 2022. The total export value increased at an average annual rate of +7.6% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 21% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

Export of Silver Jewelry in Thailand (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	390	424	611	556	12.5%
Germany	406	444	438	417	0.9%
United Kingdom	46.9	39.9	143	172	54.2%
Australia	76.3	107	108	107	11.9%
India	34.3	11.9	28.8	96.2	41.0%
China	138	123	81.4	69.9	-20.3%
Hong Kong SAR	49.2	32.8	33.1	36.3	-9.6%
Canada	7.2	8.5	15.9	19.4	39.2%
France	15.6	13.9	15.7	13.8	-4.0%
Malaysia	12.7	10.5	7.3	13.6	2.3%
New Zealand	10.9	10.8	14.2	13.2	6.6%
Spain	6.5	5.6	6.4	7.2	3.5%
Others	185	166	187	197	2.1%
Total	1,379	1,398	1,689	1,719	7.6%

Top Export Markets for Silver Jewelry from Thailand in 2022:

United States (384.1 tons)
Germany (246.6 tons)
China (100.0 tons)
United Kingdom (91.5 tons)
India (91.2 tons)
Australia (44.2 tons)
Canada (42.8 tons)
Malaysia (32.9 tons)
Spain (23.3 tons)
New Zealand (20.1 tons)
France (16.2 tons)
Hong Kong SAR (14.0 tons)

Silver Jewelry Imports in Thailand

In 2022, the amount of silver jewelry imported into Thailand soared to 156 tons, growing by 30% against the previous year's figure. In general, imports continue to indicate significant growth. The growth pace was the most rapid in 2021 with an increase of 30% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, silver jewelry imports surged to $184M in 2022. Overall, imports posted a significant increase. The growth pace was the most rapid in 2020 with an increase of 43% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Import of Silver Jewelry in Thailand (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Hong Kong SAR	13.2	6.2	22.5	60.2	65.8%
China	8.2	10.6	12.8	21.8	38.5%
Italy	20.1	17.5	26.8	19.4	-1.2%
India	10.0	6.4	15.7	14.1	12.1%
Indonesia	4.2	4.5	5.1	4.7	3.8%
United States	12.8	11.1	6.2	4.6	-28.9%
Germany	2.0	2.2	3.6	2.8	11.9%
Others	7.3	53.2	51.6	56.2	97.5%
Total	77.8	112	144	184	33.2%