Silver nitrate market in Portugal

Earlier Report Observations

The Portuguese silver nitrate market volume showed considerable movement between 2019 and 2023, rising from 1 578 kg to 2 271 kg in 2020 before easing to 1 948 kg in 2021 and 1 851 kg in 2023. In monetary terms, the market value followed a similar trajectory, growing from $91 000 to $108 800 in 2020, then dipping to $102 500 in 2021 and recovering to $113 900 in 2023.

Trade dynamics were central to the market, with import volumes consistently high. Imports surged from 1 489 kg in 2018 to a peak of 3 141 kg in 2024, then fell to 2 411 kg in 2025. Exports dropped sharply from 737 kg in 2018 to a low of 31 kg in 2020, then gradually recovered to 455 kg by 2025, reflecting shifting trade patterns.

In 2025, dynamic silver prices, influenced by euro exchange rate fluctuations and global supply-demand forces, directly affected the value of silver nitrate in Portugal, contributing to the observed changes in import and export values.

Production silver nitrate in Portugal

In value, 2018-2021, $ US

The market exhibited volatility throughout the observed period. The lowest {context} {volume} was recorded in 2020, while the highest occurred in 2019, with a peak-to-trough ratio of 1.7 times. In 2021, silver nitrate output in Portugal was valued at 41 413 US dollars, marking a 40.8% increase from the previous year. The minimum value was 29 414 US dollars in 2020, which also saw the largest decline of 41.8%.

Annual dynamics of production in Portugal in value, 2018-2021, $ US

In kind, 2018-2021, kg

Market performance showed noticeable fluctuations during this period. The lowest point was in 2020, with the peak in 2019, reflecting a 1.7-fold swing. In 2021, Portugal produced 16.00 kg of silver nitrate, a 45.5% increase compared to the year before. The minimum value was 11.00 kg in 2020, which also experienced the largest decline of 42.1%.

Annual dynamics of production in Portugal in kind, 2018-2021, kg

Exports silver nitrate from Portugal

Exports in kind, kg

Market behavior was characterized by volatility over these years. Exports bottomed in 2020 and peaked in 2018, with a 24-fold difference between these years. In 2021, Portugal's silver nitrate export volume reached 56 kg, representing an 81.2% gain over the previous year. The minimum value was 31 kg in 2020, which also recorded the largest decline of 89.3%.

Annual dynamics of product's exports from Portugal in kind, 2018-2021, kg

From 2018 to 2021, the United Kingdom (35.3% of exports in kind), Germany (32.3% of exports in kind), and Angola (29.6% of exports in kind) were the principal buyers of silver nitrate from Portugal, collectively accounting for 97.2% of total exports in kind.

Structure of product's exports in kind by countries, 2018-2021

World map of product's exports from Portugal in kind, 2018-2021

Exports in value, $ US

After a two-year reduction, Portugal's silver nitrate exports increased. In 2021, Portugal exported 10 433 US dollars of silver nitrate, equivalent to a 3.4% rise compared to the previous year. Between 2018 and 2021, exports decreased by 71.5%, translating to an annualized rate of 34.2%. The minimum value was 10 088 US dollars in 2020, which also saw the largest decline of 69.9%.

Annual dynamics of product's exports from Portugal in value, 2018-2021, $ US

From 2018 to 2021, Angola and Germany continued to lead the list of markets for exports in value terms, together accounting for 80.4% of total flows, while other partners played a supplementary role.

Structure of product's exports in value by countries, 2018-2021

World map of product's exports from Portugal in value, 2018-2021

Imports silver nitrate to Portugal

Imports in kind, kg

After a two-year rise, silver nitrate deliveries to Portugal declined. In 2021, Portugal imported a total of 1 988 kg of silver nitrate, equivalent to a robust reduction of 13.2% year-over-year. Between 2018 and 2021, imports increased by 33.5%, equating to an annualized rate of 10.1%. The maximum value was 2 291 kg in 2020, which also recorded the largest increase of 24.1%.

Annual dynamics of product's imports to Portugal in kind, 2018-2021, kg

From 2018 to 2021, Spain (40.6% of imports in kind), Belgium (23.7% of imports in kind), and Germany (15.5% of imports in kind) were the largest suppliers of silver nitrate to Portugal, together forming 79.7% of total imports in kind.

Structure of product's imports in kind by countries, 2018-2021

World map of product's imports to Portugal in kind, 2018-2021

Imports in value, $ US

In 2021, silver nitrate imports to Portugal totaled 71 536 US dollars, equivalent to a strong decline of 20.0% compared with 2020. Over the period 2018-2021, imports decreased by 5.3%, with a compound annual growth rate of 1.8%. The maximum value was 89 442 US dollars in 2020, which also saw the largest increase of 21.0%.

Annual dynamics of product's imports to Portugal in value, 2018-2021, $ US

From 2018 to 2021, Spain (55.5% of imports in value terms), Belgium (11.3% of imports in value terms), and Germany (10.5% of imports in value terms) remained the leading destinations in the country structure of imports in value terms, with a combined share of 77.4% of total flows.

Structure of product's imports in value by countries, 2018-2021

World map of product's imports to Portugal in value, 2018-2021