Asia: Gold Market 2022

Gold Market Size in Asia

In 2021, the Asian gold market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption recorded a prominent increase. The level of consumption peaked in 2021 and is expected to retain growth in the immediate term.

Gold Production in Asia

In value terms, gold production declined to $X in 2021 estimated in export price. The total production indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +X% 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 +X% against 2014 indices. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, production reached the maximum level at $X in 2020, and then reduced in the following year.

Gold Exports

Exports in Asia

In 2021, the amount of gold exported in Asia shrank markedly to X tons, falling by -X% on the year before. In general, exports recorded a abrupt slump. The pace of growth appeared the most rapid in 2015 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

In value terms, gold exports contracted dramatically to $X in 2021. Overall, exports recorded a mild contraction. The pace of growth was the most pronounced in 2020 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X, and then contracted sharply in the following year.

Exports by Country

Hong Kong SAR (X tons), the United Arab Emirates (X tons) and Singapore (X tons) represented roughly X% of total exports in 2021. It was distantly followed by Japan (X tons), making up an X% share of total exports. Uzbekistan (X tons), Thailand (X tons), the Philippines (X tons), Turkey (X tons), China (X tons) and Iraq (X tons) held a little share of total exports.

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

In value terms, Hong Kong SAR ($X), the United Arab Emirates ($X) and Singapore ($X) constituted the countries with the highest levels of exports in 2021, with a combined X% share of total exports.

Among the main exporting countries, Singapore, with a CAGR of +X%, saw the highest rates of growth with regard to the value of exports, 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 Asia stood at $X per kg in 2021, with a decrease of -X% against the previous year. Export price indicated moderate growth from 2012 to 2021: its price increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, gold export price increased by +X% against 2015 indices. The pace of growth was the most pronounced in 2020 an increase of X%. As a result, the export price reached the peak level of $X per kg, and then fell slightly in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Hong Kong SAR ($X per kg), while the Philippines ($X per kg) was amongst the lowest.

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

Gold Imports

Imports in Asia

In 2021, purchases abroad of gold was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Total imports indicated a pronounced expansion from 2012 to 2021: its volume increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 when imports increased by X%. As a result, imports reached the peak of X tons. From 2016 to 2021, the growth of imports remained at a lower figure.

In value terms, gold imports surged to $X in 2021. Total imports indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2015 with an increase of X%. As a result, imports reached the peak of $X. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, India (X tons) represented the main importer of gold, achieving X% of total imports. It was distantly followed by China (X tons), Hong Kong SAR (X tons), Singapore (X tons) and the United Arab Emirates (X tons), together creating a X% share of total imports. Thailand (X tons) and Turkey (X tons) took a relatively small share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Singapore (with a CAGR of +X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest gold importing markets in Asia were India ($X), China ($X) and Hong Kong SAR ($X), with a combined X% share of total imports. Singapore, the United Arab Emirates, Thailand and Turkey lagged somewhat behind, together comprising a further X the main importing countries, Singapore, with a CAGR of +X%, 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 Asia stood at $X per kg in 2021, almost unchanged from the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the import price increased by X%. The level of import peaked at $X per kg in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Singapore ($X per kg), while India ($X per kg) was amongst the lowest.

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

Source: IndexBox Market Intelligence Platform

Frequently Asked Questions (FAQ) :