Denmark: Gold Market 2022

Gold Market Size in Denmark

The Danish gold market soared to $X in 2021, increasing by X% against the previous year. Overall, consumption continues to indicate a prominent increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Gold Production in Denmark

In value terms, gold production soared to $X in 2021 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of X%. As a result, production attained the peak level of $X. From 2020 to 2021, production growth remained at a somewhat lower figure.

Gold Exports

Exports from Denmark

After four years of growth, shipments abroad of gold decreased by -X% to X tons in 2021. Over the period under review, exports continue to indicate a deep reduction. The most prominent rate of growth was recorded in 2020 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, gold exports soared to $X in 2021. Overall, exports saw a abrupt descent. The pace of growth appeared the most rapid in 2017 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Norway (X tons), Germany (X kg) and Iceland (X kg) were the main destinations of gold exports from Denmark, with a combined X% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Iceland (with a CAGR of +X%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the key foreign market for gold exports from Denmark, comprising X% of total exports. The second position in the ranking was held by Turkey ($X), with a X% share of total exports. It was followed by the UK, with a X% share.

From 2012 to 2021, the average annual growth rate of value to Germany totaled -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+X% per year) and the UK (-X% per year).

Export Prices by Country

In 2021, the average gold export price amounted to $X per kg, jumping by X% against the previous year. Overall, the export price saw a measured increase. The most prominent rate of growth was recorded in 2016 when the average export price increased by X%. Over the period under review, the average export prices reached the peak figure 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 Turkey ($X per kg), while the average price for exports to Norway ($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 France (+X%), while the prices for the other major destinations experienced more modest paces of growth.

Gold Imports

Imports into Denmark

In 2021, overseas purchases of gold increased by X% to X tons, rising for the third year in a row after five years of decline. Overall, imports continue to indicate a buoyant increase. The growth pace was the most rapid in 2013 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, gold imports surged to $X in 2021. In general, imports saw a strong increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Germany (X tons) constituted the largest supplier of gold to Denmark, with a X% share of total imports. Moreover, gold imports from Germany exceeded the figures recorded by the second-largest supplier, the UK (X kg), sixfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+X% per year) and Switzerland (+X% per year).

In value terms, the largest gold suppliers to Denmark were Germany ($X), Switzerland ($X) and the UK ($X), together accounting for X% of total imports.

Switzerland, with a CAGR of +X%, 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 gold import price stood at $X per kg in 2021, standing approx. at the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 an increase of X%. Over the period under review, average import prices attained the peak figure at $X per kg in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Switzerland (+X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Market Intelligence Platform

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