India: Gold Market 2022

Gold Market Size in India

In 2021, after three years of decline, there was significant growth in the Indian gold market, when its value increased by X% to $X. Over the period under review, consumption showed a moderate increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Gold Production in India

In value terms, gold production reduced to $X in 2021 estimated in export price. Over the period under review, production, however, enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. Gold production peaked at $X in 2020, and then reduced in the following year.

Gold Exports

Exports from India

In 2021, exports of gold from India dropped significantly to X kg, which is down by -X% on 2020. Overall, exports showed a dramatic shrinkage. The pace of growth appeared the most rapid in 2020 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, gold exports reduced markedly to $X in 2021. In general, exports recorded a sharp decline. The growth pace was the most rapid in 2020 when exports increased by X% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Hong Kong SAR (X kg), the United Arab Emirates (X kg) and Switzerland (X kg) were the main destinations of gold exports from India, together accounting for X% 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 Hong Kong SAR (with a CAGR of -X%), while the other leaders experienced a decline.

In value terms, Hong Kong SAR ($X) emerged as the key foreign market for gold exports from India, comprising X% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Hong Kong SAR totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (-X% per year) and Switzerland (-X% per year).

Export Prices by Country

In 2021, the average gold export price amounted to $X per kg, picking up by X% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of X% against the previous year. The export price peaked in 2021 and is expected to retain growth in the near future.

Average prices varied somewhat for the major overseas markets. In 2021, the country with the highest price was Switzerland ($X per kg), while the average price for exports to the United Arab Emirates ($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 Hong Kong SAR (+X%), while the prices for the other major destinations experienced mixed trend patterns.

Gold Imports

Imports into India

In 2021, after three years of decline, there was significant growth in overseas purchases of gold, when their volume increased by X% to X tons. Over the period under review, imports continue to indicate a pronounced increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, gold imports soared to $X in 2021. In general, imports saw a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The United Arab Emirates (X tons), Switzerland (X tons) and South Africa (X tons) were the main suppliers of gold imports to India, together accounting for X% of total imports. These countries were followed by Guinea, Peru, the Dominican Republic, Bolivia, Australia, Singapore, Argentina and the United States, which together accounted for a further X 2012 to 2021, the biggest increases were in Guinea (with a CAGR of +X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Switzerland ($X) constituted the largest supplier of gold to India, comprising X% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total imports. It was followed by South Africa, with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Switzerland was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (-X% per year) and South Africa (-X% per year).

Import Prices by Country

The average gold import price stood at $X per kg in 2021, with an increase of X% against the previous year. In general, the import price, however, recorded a noticeable reduction. The pace of growth appeared the most rapid in 2019 when the average import price increased by X%. The import price peaked at $X per kg in 2012; however, from 2013 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 Singapore ($X per kg), while the price for the United Arab Emirates ($X per kg) was amongst the lowest.

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

Source: IndexBox Market Intelligence Platform

Frequently Asked Questions (FAQ) :