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Report Africa - Gold - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Apr 1, 2024

Africa - Gold - Market Analysis, Forecast, Size, Trends and Insights

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Africa: Gold Market 2024

Gold Market Size in Africa

The African gold market declined modestly to $X in 2021, falling by -4.3% against the previous year. In general, consumption, however, saw a mild descent. The level of consumption peaked at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Gold Production in Africa

In value terms, gold production contracted to $X in 2021 estimated in export price. The total production indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +3.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +63.0% against 2015 indices. The most prominent rate of growth was recorded in 2020 with an increase of 31%. As a result, production attained the peak level of $X, and then reduced in the following year.

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Gold Exports

Exports in Africa

After two years of growth, overseas shipments of gold decreased by -14.5% to X tons in 2021. In general, exports, however, continue to indicate a strong expansion. The pace of growth appeared the most rapid in 2015 when exports increased by 272% against the previous year. As a result, the exports reached the peak of X tons. From 2016 to 2021, the growth of the exports remained at a lower figure.

In value terms, gold exports reduced to $X in 2021. Over the period under review, exports, however, posted a prominent increase. The pace of growth appeared the most rapid in 2020 when exports increased by 49%. As a result, the exports reached the peak of $X, and then dropped in the following year.

Exports by Country

Ghana (X tons), Guinea (X tons), Burkina Faso (X tons), Mali (X tons), Tanzania (X tons), Sudan (X tons), Niger (X tons), Uganda (X tons), Cote d'Ivoire (X tons), Zimbabwe (X tons), Benin (X tons) and Senegal (X tons) represented roughly 86% of total exports in 2021.

From 2012 to 2021, the biggest increases were recorded for Uganda (with a CAGR of +68.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest gold supplying countries in Africa were Guinea ($X), Ghana ($X) and Burkina Faso ($X), together accounting for 40% of total exports. These countries were followed by Mali, Sudan, Tanzania, Uganda, Zimbabwe, Niger, Cote d'Ivoire, Senegal and Benin, which together accounted for a further 46%.

Uganda, with a CAGR of +81.8%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Africa stood at $X per kg in 2021, rising by 2.5% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 an increase of 191%. The level of export peaked at $X per kg in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Guinea ($X per kg), while Benin ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Uganda (+7.7%), while the other leaders experienced more modest paces of growth.

Gold Imports

Imports in Africa

In 2021, supplies from abroad of gold increased by less than 0.1% to X tons, rising for the fifth consecutive year after three years of decline. In general, imports posted a significant increase. The pace of growth appeared the most rapid in 2013 when imports increased by 302%. The volume of import peaked in 2021 and is expected to retain growth in years to come.

In value terms, gold imports reduced remarkably to $X in 2021. Overall, imports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of 341%. The level of import peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Mozambique (X tons) and Malawi (X tons) represented roughly 66% of total imports in 2021. Egypt (X tons) ranks next in terms of the total imports with an 11% share, followed by South Africa (8.5%) and Rwanda (6.2%). Kenya (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Malawi (with a CAGR of +218.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest gold importing markets in Africa were Egypt ($X), South Africa ($X) and Rwanda ($X), together accounting for 77% of total imports.

In terms of the main importing countries, Rwanda, with a CAGR of +642.5%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Africa stood at $X per kg in 2021, waning by -15.2% against the previous year. In general, the import price recorded a abrupt setback. The pace of growth appeared the most rapid in 2019 an increase of 35% against the previous year. Over the period under review, import prices attained the maximum at $X per kg in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Rwanda ($X per kg), while Mozambique ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Rwanda (+212.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

The countries with the highest volumes of consumption in 2021 were South Africa, Libya and Benin, with a combined 37% share of total consumption. Democratic Republic of the Congo, Niger, Sudan, Guinea, Malawi, Mozambique, Tanzania, Morocco, Ghana and Rwanda lagged somewhat behind, together comprising a further 49%.
The countries with the highest volumes of production in 2021 were Ghana, Guinea and South Africa, together comprising 29% of total production. These countries were followed by Sudan, Niger, Benin, Burkina Faso, Tanzania, Mali, Libya, Democratic Republic of the Congo, Uganda and Cote d'Ivoire, which together accounted for a further 53%.
In value terms, the largest gold supplying countries in Africa were Guinea, Ghana and Burkina Faso, with a combined 40% share of total exports. Mali, Sudan, Tanzania, Uganda, Zimbabwe, Niger, Cote d'Ivoire, Senegal and Benin lagged somewhat behind, together accounting for a further 46%.
In value terms, the largest gold importing markets in Africa were Egypt, South Africa and Rwanda, with a combined 77% share of total imports.
In 2021, the export price in Africa amounted to $53,059 per kg, rising by 2.5% against the previous year.
In 2021, the import price in Africa amounted to $18,915 per kg, reducing by -15.2% against the previous year.

This report provides an in-depth analysis of the gold market in Africa. 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:

  • Algeria
  • Angola
  • Benin
  • Botswana
  • Burkina Faso
  • Burundi
  • Cabo Verde
  • Cameroon
  • Central African Republic
  • Chad
  • Comoros
  • Congo
  • Cote d'Ivoire
  • Democratic Republic of the Congo
  • Djibouti
  • Egypt
  • Equatorial Guinea
  • Eritrea
  • Ethiopia
  • Gabon
  • Gambia
  • Ghana
  • Guinea
  • Guinea-Bissau
  • Kenya
  • Lesotho
  • Liberia
  • Libya
  • Madagascar
  • Malawi
  • Mali
  • Mauritania
  • Mauritius
  • Mayotte
  • Morocco
  • Mozambique
  • Namibia
  • Niger
  • Nigeria
  • Reunion
  • Rwanda
  • Saint Helena, Ascension and Tristan da Cunha
  • Sao Tome and Principe
  • Senegal
  • Seychelles
  • Sierra Leone
  • Somalia
  • South Africa
  • South Sudan
  • Sudan
  • Swaziland
  • Tanzania
  • Togo
  • Tunisia
  • Uganda
  • Western Sahara
  • Zambia
  • Zimbabwe

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Production in Africa, split by region and country
  • Trade (exports and imports) in Africa
  • 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:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. 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.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. CONSUMPTION BY COUNTRY
    3. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 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
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
    2. PRODUCTION BY COUNTRY

  8. 8. IMPORTS

    The Largest Importers on The Market and How They Succeed

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Exporters on The Market and How They Succeed

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. 11. COUNTRY PROFILES

    The Largest Markets And Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
    • Algeria
    • Angola
    • Benin
    • Botswana
    • Burkina Faso
    • Burundi
    • Cabo Verde
    • Cameroon
    • Central African Republic
    • Chad
    • Comoros
    • Congo
    • Democratic Republic of the Congo
    • Djibouti
    • Egypt
    • Equatorial Guinea
    • Eritrea
    • Ethiopia
    • Gabon
    • Gambia
    • Ghana
    • Guinea
    • Guinea-Bissau
    • Kenya
    • Lesotho
    • Liberia
    • Libya
    • Madagascar
    • Malawi
    • Mali
    • Mauritania
    • Mauritius
    • Mayotte
    • Morocco
    • Mozambique
    • Namibia
    • Niger
    • Nigeria
    • Reunion
    • Rwanda
    • Saint Helena, Ascension and Tristan da Cunha
    • Sao Tome and Principe
    • Senegal
    • Seychelles
    • Sierra Leone
    • Somalia
    • South Africa
    • Sudan
    • Swaziland
    • Tanzania
    • Togo
    • Tunisia
    • Uganda
    • Zambia
    • Zimbabwe
    • Cote d'Ivoire
    • Western Sahara
    • South Sudan

  12. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption, By Country, 2018–2023
    5. Production, In Physical Terms, By Country, 2012–2023
    6. Imports, In Physical Terms, By Country, 2012–2023
    7. Imports, In Value Terms, By Country, 2012–2023
    8. Import Prices, By Country Of Destination, 2012–2023
    9. Exports, In Physical Terms, By Country, 2012–2023
    10. Exports, In Value Terms, By Country, 2012–2023
    11. Export Prices, By Country Of Origin, 2012–2023

  13. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Consumption, By Country, 2023
    4. Market Volume Forecast to 2030
    5. Market Value Forecast to 2030
    6. Products: Market Size And Growth, By Type
    7. Products: Average Per Capita Consumption, By Type
    8. Products: Exports And Growth, By Type
    9. Products: Export Prices And Growth, By Type
    10. Production Volume And Growth
    11. Exports And Growth
    12. Export Prices And Growth
    13. Market Size And Growth
    14. Per Capita Consumption
    15. Imports And Growth
    16. Import Prices
    17. Production, In Physical Terms, 2012–2023
    18. Production, In Value Terms, 2012–2023
    19. Production, By Country, 2023
    20. Production, In Physical Terms, By Country, 2012–2023
    21. Imports, In Physical Terms, 2012–2023
    22. Imports, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, By Country, 2023
    24. Imports, In Physical Terms, By Country, 2012–2023
    25. Imports, In Value Terms, By Country, 2012–2023
    26. Import Prices, By Country, 2012–2023
    27. Exports, In Physical Terms, 2012–2023
    28. Exports, In Value Terms, 2012–2023
    29. Exports, In Physical Terms, By Country, 2023
    30. Exports, In Physical Terms, By Country, 2012–2023
    31. Exports, In Value Terms, By Country, 2012–2023
    32. Export Prices, 2012–2023

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