Between 2013 and 2023, Brazil's import of silver in unwrought forms experienced several fluctuations. In 2023, the volume stood at 173.09 thousand kilograms. The most significant year-on-year changes were a decline of 21.37% in 2015 and an increase of 23.17% in 2021. Over the last two years, import volume decreased by 2.67% from 2022 to 2023. The CAGR over the past five years has been negative, showing a decrease of approximately 2.64% annually. This trend reflects a general decline in imports over the decade, with minor rebounds.
Going forward, the forecast suggests a continued decline in imports of unwrought silver, with a projected 5-year CAGR of -2.46% and an overall reduction of 11.7% by 2028. Trends to watch include potential changes in Brazil’s industrial demand for silver, global silver prices, and trade policies that may influence import volumes.
