Gold Price in Tanzania - 2022

Contents:

1. Gold Price in Tanzania (FOB) - 2022
2. Gold Price in Tanzania (CIF) - 2022
3. Gold Exports in Tanzania
4. Gold Imports in Tanzania

Gold Price in Tanzania (FOB) - 2022

In December 2021, the average gold export price amounted to $45.8B per ton, standing approximately at the previous month. Over the period under review, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in May 2021 when the average export price increased by 9.1% m-o-m. The export price peaked at $49.4B per ton in January 2021; however, from February 2021 to December 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by the country of destination: the country with the highest price was the United Arab Emirates ($51.2B per ton), while the average price for exports to Switzerland ($26.3B per ton) was amongst the lowest.

From January 2021 to December 2021, the most notable rate of growth in terms of prices was recorded for supplies to Rwanda (0.0%), while the prices for the other major destinations experienced a decline.

Gold Price in Tanzania (CIF) - 2022

The average gold import price stood at $42,463,176 per ton in 2022, picking up by 23% against the previous year. Overall, the import price continues to indicate a significant expansion. The most prominent rate of growth was recorded in 2018 an increase of 25,526%. The import price peaked at $42,915,107 per ton in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for the United Arab Emirates.

From 2012 to 2022, the rate of growth in terms of prices for the United Arab Emirates amounted to +261.6% per year.

Gold Exports in Tanzania

In 2022, approx. 61 tons of gold were exported from Tanzania; increasing by 3.1% compared with the previous year. Overall, exports, however, saw a pronounced shrinkage.

In value terms, gold exports expanded modestly to $2.8B in 2022. The total export value increased at an average annual rate of +8.6% over the period from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 when exports increased by 34%. As a result, the exports reached the peak of $3B. From 2021 to 2022, the growth of the exports remained at a lower figure.

Top Export Markets for Gold from Tanzania in 2022:

1. India (19.0 tons)
2. South Africa (17.5 tons)
3. United Arab Emirates (11.8 tons)
4. Switzerland (9.2 tons)
5. Hong Kong SAR (2.1 tons)

Gold Imports in Tanzania

In 2022, approx. 17 kg of gold were imported into Tanzania; jumping by 143% compared with the previous year. Over the period under review, imports posted a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 2,700%. As a result, imports attained the peak of 28 kg. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, gold imports soared to $722K in 2022. In general, imports enjoyed significant growth. The pace of growth was the most pronounced in 2020 when imports increased by 26,045% against the previous year. As a result, imports attained the peak of $1.2M. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Top Suppliers of Gold to Tanzania in 2022:

1. United Arab Emirates (17.0 kg)

Source: IndexBox Market Intelligence Platform