In 2023, the re-import of silver to Canada stood at 6.8 million US Dollars. The forecast from 2024 to 2028 shows a consistent downward trend with the value decreasing annually from 6.3297 million US Dollars in 2024 to 2.2482 million US Dollars in 2028. This represents substantial year-on-year percentage decreases. Specifically, there is a 16.6% decrease forecasted between 2024 and 2025, followed by a 19.5% decrease from 2025 to 2026, a 23.7% decrease from 2026 to 2027, and a significant 30.6% from 2027 to 2028. Over this five-year period, the compound annual growth rate (CAGR) indicates a persistent decline.
Future trends to watch for include:
- Global market dynamics influencing silver demand and prices, especially given the context of alternative materials and technological advances.
- Canadian economic factors such as trade policies and agreements that may impact re-import patterns.
- Environmental and sustainability policies affecting silver production and recycling capabilities globally.
