Colombia - Gold - Market Analysis, Forecast, Size, Trends and Insights
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View PricingGold Price in Colombia - 2022
Contents:
- Gold Price in Colombia (FOB) - 2022
- Gold Price in Colombia (CIF) - 2022
- Gold Exports in Colombia
- Gold Imports in Colombia
Gold Price in Colombia (FOB) - 2022
In February 2022, the average gold export price amounted to $42.5M per ton, increasing by 7.3% against the previous month. Overall, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in July 2021 when the average export price increased by 9.3% against the previous month. Over the period under review, the average export prices attained the maximum in February 2022.
There were significant differences in the average prices for the major external markets. In February 2022, the country with the highest price was Switzerland ($52.5M per ton), while the average price for exports to Italy ($29.2M per ton) was amongst the lowest.
From February 2021 to February 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+2.0%), while the prices for the other major destinations experienced more modest paces of growth.
Gold Price in Colombia (CIF) - 2022
In 2022, the average gold import price amounted to $260,082 per ton, dropping by -30.1% against the previous year. Overall, the import price saw a deep reduction. The most prominent rate of growth was recorded in 2021 when the average import price increased by 43% against the previous year. The import price peaked at $1,033,577 per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Chile ($278,635 per ton), while the price for the United States ($22,146 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+0.9%), while the prices for the other major suppliers experienced a decline.
Gold Exports in Colombia
In 2022, after three years of growth, there was decline in overseas shipments of gold, when their volume decreased by -0.1% to 78 tons. In general, total exports indicated a strong expansion from 2019 to 2022: its volume increased at an average annual rate of +14.4% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +49.9% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 32% against the previous year.
In value terms, gold exports fell modestly to $3B in 2022. Overall, total exports indicated a significant expansion from 2019 to 2022: its value increased at an average annual rate of +20.0% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +72.7% against 2019 indices. The pace of growth was the most pronounced in 2020 when exports increased by 66%.
| Export of Gold in Colombia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 689 | 1,511 | 1,616 | 1,183 | 19.7% |
| Free Zones | 403 | 719 | 705 | 506 | 7.9% |
| Hong Kong SAR | 8.4 | 18.6 | 41.7 | 150 | 161.4% |
| India | 37.6 | 33.3 | 181 | 130 | 51.2% |
| United Arab Emirates | 199 | 219 | 127 | 129 | -13.5% |
| Australia | 34.8 | 111 | 172 | 124 | 52.7% |
| Switzerland | 173 | 138 | 178 | 117 | -12.2% |
| Canada | 160 | 92.4 | 31.8 | 109 | -12.0% |
| Others | 41.0 | 60.2 | 78.7 | 569 | 140.3% |
| Total | 1,747 | 2,902 | 3,132 | 3,017 | 20.0% |
Top Export Markets for Gold from Colombia in 2022:
- United States (23.4 tons)
- Free Zones (11.5 tons)
- Canada (6.4 tons)
- Hong Kong SAR (5.5 tons)
- United Arab Emirates (3.2 tons)
- India (2.9 tons)
- Australia (2.7 tons)
- Switzerland (2.6 tons)
Gold Imports in Colombia
In 2022, supplies from abroad of gold was finally on the rise to reach 164 kg for the first time since 2019, thus ending a two-year declining trend. In general, imports, however, showed a significant decline.
In value terms, gold imports soared to $43K in 2022. Over the period under review, imports, however, faced a precipitous curtailment.
| Import of Gold in Colombia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Chile | 203 | 37.7 | 34.9 | 34.7 | -44.5% |
| United Arab Emirates | 40.2 | 11.9 | 0.1 | 7.6 | -42.6% |
| United States | 0.1 | N/A | N/A | 0.2 | 26.0% |
| Others | 3.1 | 0.4 | 0.3 | 0.3 | -54.1% |
| Total | 246 | 50.0 | 35.3 | 42.7 | -44.2% |
Top Suppliers of Gold to Colombia in 2022:
- Chile (124.0 kg)
- United Arab Emirates (28.0 kg)
- United States (7.0 kg)
This report provides an in-depth analysis of the gold market in Colombia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 24412030 - Gold, unwrought or in powder form for non-monetary use (including plated with platinum)
- Prodcom 24412035 -
- Prodcom 24412040 -
- Prodcom 24412050 - Gold, in semi-manufactured forms for non-monetary use (including plated with platinum) (excluding unwrought or in powder form)
- Prodcom 24412070 - Monetary gold (including gold plated with platinum)
Country coverage:
- Colombia
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Colombia
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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