Czech Republic: Semi-Manufactured Gold Market 2024

Semi-Manufactured Gold Market Size in the Czech Republic

In 2022, the Czech semi-manufactured gold market decreased by -8.1% to $X for the first time since 2019, thus ending a two-year rising trend. In general, consumption, however, recorded a significant increase. Over the period under review, the market attained the maximum level at $X in 2021, and then contracted in the following year.

Semi-Manufactured Gold Production in the Czech Republic

In value terms, semi-manufactured gold production totaled $X in 2022 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume decreased by 99.9%. Over the period under review, production hit record highs in 2022 and is likely to continue growth in years to come.

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Semi-Manufactured Gold Exports

Exports from the Czech Republic

In 2022, overseas shipments of gold, in semi-manufactured forms were finally on the rise to reach X kg after two years of decline. In general, exports, however, showed a abrupt contraction. The growth pace was the most rapid in 2013 when exports increased by 70% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, semi-manufactured gold exports skyrocketed to $X in 2022. Over the period under review, exports, however, recorded a abrupt slump. The pace of growth appeared the most rapid in 2013 when exports increased by 74%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Turkey (X kg) was the main destination for semi-manufactured gold exports from the Czech Republic, accounting for a 38% share of total exports. Moreover, semi-manufactured gold exports to Turkey exceeded the volume sent to the second major destination, Slovakia (X kg), threefold. The third position in this ranking was taken by Poland (X kg), with a 14% share.

From 2012 to 2022, the average annual growth rate of volume to Turkey amounted to +3.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovakia (-15.5% per year) and Poland (+1.1% per year).

In value terms, Turkey ($X), Poland ($X) and Slovakia ($X) appeared to be the largest markets for semi-manufactured gold exported from the Czech Republic worldwide, with a combined 62% share of total exports. Germany, Austria, Italy and the UK lagged somewhat behind, together comprising a further 36%.

The UK, with a CAGR of +44.6%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average semi-manufactured gold export price stood at $X per kg in 2022, which is down by -4.7% against the previous year. Overall, export price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 an increase of 51% against the previous year. The export price peaked at $X per kg in 2021, and then shrank slightly in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Poland ($X per kg), while the average price for exports to Turkey ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Austria (+9.0%), while the prices for the other major destinations experienced more modest paces of growth.

Semi-Manufactured Gold Imports

Imports into the Czech Republic

In 2022, the amount of gold, in semi-manufactured forms imported into the Czech Republic was estimated at X tons, approximately equating 2021. Overall, total imports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +96.8% against 2019 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 42%. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the near future.

In value terms, semi-manufactured gold imports contracted to $X in 2022. In general, imports showed strong growth. The pace of growth was the most pronounced in 2020 when imports increased by 65% against the previous year. Over the period under review, imports reached the peak figure at $X in 2021, and then fell slightly in the following year.

Imports by Country

In 2022, Switzerland (X tons) constituted the largest supplier of semi-manufactured gold to the Czech Republic, accounting for a 55% share of total imports. Moreover, semi-manufactured gold imports from Switzerland exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. The third position in this ranking was taken by Austria (X tons), with a 20% share.

From 2012 to 2022, the average annual growth rate of volume from Switzerland amounted to +8.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+13.9% per year) and Austria (+5.0% per year).

In value terms, Switzerland ($X) constituted the largest supplier of gold, in semi-manufactured forms to the Czech Republic, comprising 63% of total imports. The second position in the ranking was taken by Austria ($X), with a 21% share of total imports. It was followed by Germany, with a 9.2% share.

From 2012 to 2022, the average annual growth rate of value from Switzerland totaled +12.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+8.6% per year) and Germany (+18.1% per year).

Import Prices by Country

In 2022, the average semi-manufactured gold import price amounted to $X per kg, which is down by -4.5% against the previous year. Overall, import price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, semi-manufactured gold import price increased by +52.8% against 2016 indices. The most prominent rate of growth was recorded in 2020 when the average import price increased by 20% against the previous year. Over the period under review, average import prices hit record highs at $X per kg in 2021, and then fell in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Poland ($X per kg), while the price for Germany ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+11.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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