Eastern Europe: Semi-Manufactured Gold Market 2024

Semi-Manufactured Gold Market Size in Eastern Europe

The East European semi-manufactured gold market soared to $X in 2022, with an increase of 101% against the previous year. In general, consumption posted buoyant growth. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Semi-Manufactured Gold Production in Eastern Europe

In value terms, semi-manufactured gold production expanded remarkably to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the production volume increased by 22% against the previous year. Over the period under review, production attained the maximum level in 2022 and is likely to continue growth in the immediate term.

Semi-Manufactured Gold Exports

Exports in Eastern Europe

In 2022, the amount of gold, in semi-manufactured forms exported in Eastern Europe dropped to X tons, waning by -4.7% against 2021. Over the period under review, exports showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2013 with an increase of 51%. Over the period under review, the exports attained the maximum at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, semi-manufactured gold exports rose to $X in 2022. In general, exports recorded a deep setback. The pace of growth was the most pronounced in 2013 when exports increased by 22% against the previous year. The level of export peaked at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Poland represented the main exporting country with an export of about X tons, which recorded 42% of total exports. Bulgaria (X kg) took a 26% share (based on physical terms) of total exports, which put it in second place, followed by the Czech Republic (18%) and Latvia (4.9%). Slovakia (X kg), Ukraine (X kg) and Hungary (X kg) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Bulgaria (with a CAGR of +23.1%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Poland ($X) remains the largest semi-manufactured gold supplier in Eastern Europe, comprising 58% of total exports. The second position in the ranking was taken by the Czech Republic ($X), with a 22% share of total exports. It was followed by Latvia, with a 7.1% share.

From 2012 to 2022, the average annual growth rate of value in Poland totaled -2.1%. In the other countries, the average annual rates were as follows: the Czech Republic (-6.0% per year) and Latvia (-6.0% per year).

Export Prices by Country

The export price in Eastern Europe stood at $X per kg in 2022, with an increase of 7.6% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 20%. Over the period under review, the export prices hit record highs in 2022 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Latvia ($X per kg), while Bulgaria ($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 Czech Republic (+4.6%), while the other leaders experienced more modest paces of growth.

Semi-Manufactured Gold Imports

Imports in Eastern Europe

In 2022, supplies from abroad of gold, in semi-manufactured forms increased by 163% to X tons, rising for the third consecutive year after two years of decline. In general, imports saw a prominent increase. The pace of growth was the most pronounced in 2013 with an increase of 287% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, semi-manufactured gold imports soared to $X in 2022. Over the period under review, imports saw prominent growth. The pace of growth was the most pronounced in 2020 with an increase of 68% against the previous year. The level of import peaked in 2022 and is likely to continue growth in the near future.

Imports by Country

Slovakia represented the main importing country with an import of about X tons, which resulted at 57% of total imports. Poland (X tons) ranks second in terms of the total imports with a 15% share, followed by the Czech Republic (15%) and Hungary (8.1%). Latvia (X kg) held a minor share of total imports.

Imports into Slovakia increased at an average annual rate of +11.9% from 2012 to 2022. At the same time, Latvia (+16.0%), Poland (+13.5%), Hungary (+12.2%) and the Czech Republic (+6.0%) displayed positive paces of growth. Moreover, Latvia emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of +16.0% from 2012-2022. Slovakia (+19 p.p.), Poland (+6.1 p.p.) and Hungary (+2.8 p.p.) significantly strengthened its position in terms of the total imports, while the Czech Republic saw its share reduced by -2.2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Poland ($X), the Czech Republic ($X) and Slovakia ($X) constituted the countries with the highest levels of imports in 2022, with a combined 74% share of total imports.

Slovakia, with a CAGR of +21.1%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Eastern Europe amounted to $X per kg, shrinking by -47.3% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 129% against the previous year. Over the period under review, import prices attained the maximum at $X per kg in 2021, and then fell significantly in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Poland ($X per kg), while Slovakia ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovakia (+8.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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