EU: Gold Market 2022

Gold Market Size in the EU

After two years of growth, the EU gold market decreased by -X% to $X in 2021. The total consumption indicated a prominent expansion from 2012 to 2021: its value 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, consumption increased by +X% against 2017 indices. As a result, consumption attained the peak level of $X, and then contracted significantly in the following year.

Gold Production in the EU

In value terms, gold production declined significantly to $X in 2021 estimated in export price. The total production indicated a slight increase from 2012 to 2021: its value 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, production increased by +X% against 2018 indices. The pace of growth was the most pronounced in 2020 when the production volume increased by X%. As a result, production reached the peak level of $X, and then shrank sharply in the following year.

Gold Exports

Exports in the EU

After two years of growth, shipments abroad of gold decreased by -X% to X tons in 2021. Over the period under review, exports recorded a deep setback. The most prominent rate of growth was recorded in 2019 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, gold exports reduced remarkably to $X in 2021. In general, exports continue to indicate a abrupt decline. The pace of growth was the most pronounced in 2019 when exports increased by X%. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Italy (X tons) and Germany (X tons) represented roughly X% of total exports in 2021. It was distantly followed by Spain (X tons), France (X tons), Austria (X tons) and Belgium (X tons), together committing a X% share of total exports. Finland (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were in Finland (with a CAGR of +X%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Italy ($X), Germany ($X) and Spain ($X) appeared to be the countries with the highest levels of exports in 2021, together comprising X% of total exports. These countries were followed by Austria, France, Belgium and Finland, which together accounted for a further X the main exporting countries, Finland, with a CAGR of +X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in the European Union stood at $X per kg in 2021, increasing by X% against the previous year. Export price indicated a resilient expansion 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 2013 indices. The growth pace was the most rapid in 2016 when the export price increased by X%. Over the period under review, the export prices attained the peak figure in 2021 and is expected to retain growth in the near future.

Prices varied noticeably country of origin: the country with the highest price was Austria ($X per kg), while Belgium ($X per kg) was amongst the lowest.

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

Gold Imports

Imports in the EU

After four years of growth, overseas purchases of gold decreased by -X% to X tons in 2021. Total imports indicated a mild expansion from 2012 to 2021: its volume increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +X% against 2016 indices. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. As a result, imports attained the peak of X tons, and then declined modestly in the following year.

In value terms, gold imports surged to $X in 2021. Overall, imports, however, posted temperate growth. The pace of growth was the most pronounced in 2020 with an increase of X%. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the immediate term.

Imports by Country

Italy (X tons) and Germany (X tons) represented roughly X% of total imports in 2021. Austria (X tons) took the next position in the ranking, followed by Spain (X tons) and France (X tons). All these countries together took approx. X% share of total imports. The following importers - Belgium (X tons) and Slovakia (X tons) - each amounted to a X% share of total imports.

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

In value terms, the largest gold importing markets in the European Union were Germany ($X), Italy ($X) and Austria ($X), together accounting for X% of total imports. France, Spain, Belgium and Slovakia lagged somewhat behind, together comprising a further X, with a CAGR of +X%, saw 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

The import price in the European Union stood at $X per kg in 2021, growing by X% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +X%. The most prominent rate of growth was recorded in 2020 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Austria ($X per kg), while Slovakia ($X per kg) was amongst the lowest.

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

Source: IndexBox Market Intelligence Platform

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