Czech Republic: Gold Market 2022

Gold Market Size in the Czech Republic

In 2021, the Czech gold market increased by X% to $X, rising for the second year in a row after two years of decline. Overall, consumption saw a resilient increase. Gold consumption peaked in 2021 and is likely to continue growth in the immediate term.

Gold Production in the Czech Republic

In value terms, gold production dropped slightly to $X in 2021 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The growth pace was 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 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Gold Exports

Exports from the Czech Republic

In 2021, shipments abroad of gold decreased by -X% to X tons, falling for the second consecutive year after two years of growth. In general, exports saw a abrupt downturn. The pace of growth was the most pronounced in 2015 with an increase of X%. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, gold exports declined dramatically to $X in 2021. Overall, exports recorded a abrupt downturn. The growth pace was the most rapid in 2013 with an increase of X%. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Switzerland (X tons), Germany (X tons) and Slovakia (X kg) were the main destinations of gold exports from the Czech Republic, with a combined X% share of total exports. These countries were followed by Austria, Poland and Turkey, which together accounted for a further X 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Poland (with a CAGR of +X%), while the other leaders experienced a decline.

In value terms, Slovakia ($X), Germany ($X) and Poland ($X) appeared to be the largest markets for gold exported from the Czech Republic worldwide, with a combined X% share of total exports.

Poland, with a CAGR of +X%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average gold export price stood at $X per kg in 2021, which is down by -X% against the previous year. Over the period under review, export price indicated a slight increase from 2012 to 2021: its price 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, gold export price increased by +X% against 2018 indices. The pace of growth appeared the most rapid in 2016 an increase of X%. The export price peaked at $X per kg in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Slovakia ($X per kg), while the average price for exports to Switzerland ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Slovakia (+X%), while the prices for the other major destinations experienced more modest paces of growth.

Gold Imports

Imports into the Czech Republic

In 2021, purchases abroad of gold increased by X% to X tons, rising for the second year in a row after two years of decline. Overall, total imports indicated strong growth 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. Based on 2021 figures, imports increased by +X% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, gold imports surged to $X in 2021. In general, imports posted a remarkable increase. The growth pace was the most rapid in 2020 when imports increased by X%. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

Switzerland (X tons), Austria (X tons) and Germany (X tons) were the main suppliers of gold imports to the Czech Republic, with a combined X% share of total imports.

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

In value terms, the largest gold suppliers to the Czech Republic were Switzerland ($X), Austria ($X) and Germany ($X), together comprising X% of total imports.

In terms of the main suppliers, Austria, 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

In 2021, the average gold import price amounted to $X per kg, rising by X% against the previous year. Over the last nine-year period, it increased at an average annual rate of +X%. The growth pace was the most rapid in 2020 when the average import price increased by X%. The import price peaked in 2021 and is likely to see steady growth in the immediate term.

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

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

Source: IndexBox Market Intelligence Platform

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