Italy: Gold Market 2022

Gold Market Size in Italy

The Italian gold market contracted rapidly to $X in 2021, declining by -X% against the previous year. In general, consumption, however, showed a buoyant increase. As a result, consumption reached the peak level of $X, and then declined sharply in the following year.

Gold Production in Italy

In value terms, gold production contracted sharply to $X in 2021 estimated in export price. Overall, production recorded prominent growth. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then declined dramatically in the following year.

Gold Exports

Exports from Italy

In 2021, overseas shipments of gold decreased by -X% to X tons for the first time since 2017, thus ending a three-year rising trend. Over the period under review, exports recorded a abrupt decrease. The most prominent rate of growth was recorded in 2019 when exports increased by X% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, gold exports declined rapidly to $X in 2021. Overall, exports continue to indicate a abrupt descent. The growth pace was the most rapid in 2019 with an increase of X%. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Switzerland (X tons) was the main destination for gold exports from Italy, accounting for a X% share of total exports. Moreover, gold exports to Switzerland exceeded the volume sent to the second major destination, France (X tons), sixfold. The United Arab Emirates (X tons) ranked third in terms of total exports with a X% share.

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

In value terms, Switzerland ($X) remains the key foreign market for gold exports from Italy, comprising X% of total exports. The second position in the ranking was taken by France ($X), with an X% share of total exports. It was followed by the UK, with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Switzerland stood at -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-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, falling by -X% against the previous year. In general, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per kg, and then declined in the following year.

Prices varied noticeably country of destination: the country with the highest price was France ($X per kg), while the average price for exports to the United States ($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 the United States (+X%), while the prices for the other major destinations experienced more modest paces of growth.

Gold Imports

Imports into Italy

In 2021, after four years of growth, there was significant decline in overseas purchases of gold, when their volume decreased by -X% to X tons. Over the period under review, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons, and then contracted sharply in the following year.

In value terms, gold imports shrank notably to $X in 2021. Overall, imports saw a relatively flat trend pattern. 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, and then shrank dramatically in the following year.

Imports by Country

Switzerland (X tons), France (X tons) and the United Arab Emirates (X tons) were the main suppliers of gold imports to Italy, with a combined X% share of total imports. Colombia, the United States, Germany, Brazil, Spain, the UK, Russia, South Africa and Mexico lagged somewhat behind, together accounting for a further X 2012 to 2021, the biggest increases were in Brazil (with a CAGR of +X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Switzerland ($X), the United Arab Emirates ($X) and Colombia ($X) appeared to be the largest gold suppliers to Italy, with a combined X% share of total imports.

The United Arab Emirates, 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, leveling off at the previous year. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. Over the period under review, average import prices reached the maximum in 2021 and is expected to retain growth in the near future.

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

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

Source: IndexBox Market Intelligence Platform

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