Silver in powder, unwrought or semi-manufactured forms market in Germany

Earlier Report Observations

The German market for unwrought and semi-manufactured silver experienced significant volume fluctuations between 2018 and 2024. After a dip to 2,225 t in 2019, consumption recovered to 2,791 t in 2020 and surged to a high of 4,443 t in 2021. The market then moderated to 4,244 t in 2022 before declining substantially to 2,444 t by 2024.

In 2024, the market contraction occurred alongside sustained industrial demand from future-oriented sectors like photovoltaics and electromobility. This decline was primarily driven by global supply chain disruptions stemming from trade wars, which constrained the availability of material. Secondary pressure came from reported price manipulation in derivatives markets and a multi-year drawdown in above-ground silver stocks, which made supply less responsive to demand.

Production silver in powder, unwrought or semi-manufactured forms in Germany

In value, 2017-2020, M $ US

Germany's production of silver in powder, unwrought or semi-manufactured forms has increased for the second consecutive year. In 2020, output was valued at 2 689 million US dollars, marking a significant 69.4% rise compared to the previous year. From 2017 to 2020, production grew by 70.8%, with an annual growth rate of 19.5%. The lowest value was recorded in 2018 at 1 429 million US dollars, which also saw the largest decline of 9.2%.

Annual dynamics of production in Germany in value, 2017-2020, M $ US

In kind, 2017-2020, t

Germany's production of silver in powder, unwrought or semi-manufactured forms has risen for the second year in a row. In 2020, 4 666 tonnes were produced, representing a sharp 32.1% increase over the previous year. Between 2017 and 2020, production increased by 33%, equating to an annualized growth rate of 10.0%. The minimum output was in 2018 at 3 450 tonnes, which also experienced the largest decline of 1.7%.

Annual dynamics of production in Germany in kind, 2017-2020, t

Exports silver in powder, unwrought or semi-manufactured forms from Germany

Exports in kind, t

Germany's exports of silver in powder, unwrought or semi-manufactured forms have grown for the second consecutive year. In 2020, exports reached 3 418 tonnes, showing a solid 22.5% gain compared to the previous year. From 2017 to 2020, exports increased by 18%, with an annualized rate of 5.7%. The lowest export volume was in 2018 at 2 563 tonnes, which also saw the largest decline of 11.6%.

Annual dynamics of product's exports from Germany in kind, 2017-2020, t

The structure of exports in kind from 2017 to 2020 reveals a diversified set of partners. The United Kingdom accounted for 21.5% of exports in kind, Special Categories for 14.6%, and Switzerland for 13.5%, together making up 49.6% of total flows. The remaining 50.4% was distributed among numerous smaller markets.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Germany in kind, 2017-2020

Exports in value, M $ US

Germany's exports of silver in powder, unwrought or semi-manufactured forms have increased for the second year in a row. In 2020, exports were valued at 1 995 million US dollars, corresponding to a steep 55.2% uptick compared to the previous year. Over the period 2017-2020, exports grew by 35%, with a compound annual growth rate of 10.5%. The minimum value was recorded in 2018 at 1 144 million US dollars, which also experienced the largest decline of 22.5%.

Annual dynamics of product's exports from Germany in value, 2017-2020, M $ US

From 2017 to 2020, the main destinations for Germany's exports in value terms of silver in powder, unwrought or semi-manufactured forms were the United Kingdom with 24.3%, Switzerland with 15.5%, and Special Categories with 14.1%. Together, they accounted for 53.9% of total export flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Germany in value, 2017-2020

Imports silver in powder, unwrought or semi-manufactured forms to Germany

Imports in kind, t

After a two-year decline, Germany's imports of silver in powder, unwrought or semi-manufactured forms have increased. In 2020, import volume totalled 1 543 tonnes, showing a moderate 4.0% rise compared to the previous year. Between 2017 and 2020, imports decreased by 5.4%, equating to an annualized decline of 1.8%. The lowest import volume was in 2019 at 1 483 tonnes, while the largest decline occurred in 2018 at 6.8%.

Annual dynamics of product's imports to Germany in kind, 2017-2020, t

From 2017 to 2020, the main sources for Germany's imports in kind of silver in powder, unwrought or semi-manufactured forms were Special Categories with 33.9%, Switzerland with 11.4%, and Sweden with 7.8%. Together, they represented 53.0% of total import flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Germany in kind, 2017-2020

Imports in value, M $ US

After a two-year drop, Germany's imports of silver in powder, unwrought or semi-manufactured forms have increased. In 2020, import volume stood at 838 million US dollars, constituting a 30.8% advance compared to the previous year. The minimum value was recorded in 2019 at 641 million US dollars, while the largest decline occurred in 2018 at 21.5%.

Annual dynamics of product's imports to Germany in value, 2017-2020, M $ US

Over the period 2017-2020, Special Categories accounted for 39.1% of imports in value terms, Switzerland for 14.2%, and Sweden for 9.0%. Together, they absorbed 62.3% of total imports in value terms of silver in powder, unwrought or semi-manufactured forms to Germany, making them the primary sources.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Germany in value, 2017-2020