Canada: Semi-Manufactured Gold Market 2024

Semi-Manufactured Gold Market Size in Canada

The Canadian semi-manufactured gold market skyrocketed to $X in 2022, picking up by 63% against the previous year. In general, consumption, however, recorded a mild reduction. Over the period under review, the market attained the peak level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Semi-Manufactured Gold Production in Canada

In value terms, semi-manufactured gold production rose markedly to $X in 2022 estimated in export price. In general, the total production indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -4.7% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of 35% against the previous year. Semi-manufactured gold production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Semi-Manufactured Gold Exports

Exports from Canada

Semi-manufactured gold exports from Canada fell rapidly to X tons in 2022, with a decrease of -15.5% on the previous year. In general, exports, however, recorded perceptible growth. The most prominent rate of growth was recorded in 2021 with an increase of 230% against the previous year. As a result, the exports reached the peak of X tons, and then dropped notably in the following year.

In value terms, semi-manufactured gold exports reduced sharply to $X in 2022. Over the period under review, exports, however, saw a significant expansion. The pace of growth was the most pronounced in 2021 when exports increased by 329%. As a result, the exports attained the peak of $X, and then contracted sharply in the following year.

Exports by Country

The United States (X tons) was the main destination for semi-manufactured gold exports from Canada, accounting for a approx. 99% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at +4.5%.

In value terms, the United States ($X) also remains the key foreign market for gold, in semi-manufactured forms exports from Canada.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +21.3%.

Export Prices by Country

The average semi-manufactured gold export price stood at $X per kg in 2022, waning by -11.6% against the previous year. Overall, the export price, however, saw a strong increase. The pace of growth appeared the most rapid in 2013 an increase of 71%. The export price peaked at $X per kg in 2021, and then contracted in the following year.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to +16.0% per year.

Semi-Manufactured Gold Imports

Imports into Canada

In 2022, approx. X tons of gold, in semi-manufactured forms were imported into Canada; picking up by 25% against the year before. Overall, imports, however, continue to indicate a perceptible reduction. The most prominent rate of growth was recorded in 2017 when imports increased by 96%. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, semi-manufactured gold imports expanded modestly to $X in 2022. Over the period under review, imports showed perceptible growth. The growth pace was the most rapid in 2017 with an increase of 173% against the previous year. Imports peaked at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the United States (X kg) constituted the largest supplier of semi-manufactured gold to Canada, accounting for a 45% share of total imports. Moreover, semi-manufactured gold imports from the United States exceeded the figures recorded by the second-largest supplier, Switzerland (X kg), twofold. The United Arab Emirates (X kg) ranked third in terms of total imports with a 7.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States totaled -10.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (+24.0% per year) and the United Arab Emirates (+208.0% per year).

In value terms, the United States ($X), Switzerland ($X) and the United Arab Emirates ($X) constituted the largest semi-manufactured gold suppliers to Canada, together comprising 89% of total imports.

The United Arab Emirates, with a CAGR of +918.2%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average semi-manufactured gold import price stood at $X per kg in 2022, dropping by -17.6% against the previous year. Overall, the import price, however, showed buoyant growth. The most prominent rate of growth was recorded in 2019 when the average import price increased by 122%. The import price peaked at $X per kg in 2021, and then dropped markedly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Switzerland ($X per kg), while the price for Germany ($X per kg) 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 (+230.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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