Report Update Apr 1, 2024

Libya - Gold - Market Analysis, Forecast, Size, Trends and Insights

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Libya: Gold Market 2024

Gold Market Size in Libya

The Libyan gold market soared to $X in 2021, surging by 140% against the previous year. Over the period under review, consumption enjoyed a temperate expansion. Gold consumption peaked in 2021 and is expected to retain growth in the near future.

Gold Production in Libya

In value terms, gold production shrank to $X in 2021 estimated in export price. Overall, production continues to indicate a mild downturn. The pace of growth appeared the most rapid in 2020 with an increase of 23%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Gold Exports

Exports from Libya

In 2021, shipments abroad of gold decreased by -88.8% to X tons for the first time since 2018, thus ending a two-year rising trend. In general, exports showed a abrupt curtailment. The pace of growth was the most pronounced in 2014 when exports increased by 94% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, gold exports fell notably to $X in 2021. Over the period under review, exports saw a abrupt setback. The most prominent rate of growth was recorded in 2015 with an increase of 68%. Over the period under review, the exports reached the peak figure at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X tons), Turkey (X tons) and Italy (X kg) were the main destinations of gold exports from Libya, together accounting for 100% of total exports.

From 2012 to 2021, the biggest increases were recorded for Italy (with a CAGR of +7.0%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the United Arab Emirates ($X), Turkey ($X) and Italy ($X) constituted the largest markets for gold exported from Libya worldwide, with a combined 100% share of total exports.

Among the main countries of destination, Turkey, with a CAGR of +7.7%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average gold export price amounted to $X per kg, rising by 28% against the previous year. Overall, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of 29% against the previous year. Over the period under review, the average export prices reached the maximum in 2021 and is likely to see steady growth in years to come.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per kg), while the average price for exports to Italy ($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 Arab Emirates (+1.4%), while the prices for the other major destinations experienced mixed trend patterns.

Gold Imports

Imports into Libya

In 2021, overseas purchases of gold increased by 388% to X kg, rising for the second year in a row after five years of decline. Overall, imports recorded significant growth. The most prominent rate of growth was recorded in 2014 when imports increased by 1,043%. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports failed to regain momentum.

In value terms, gold imports surged to $X in 2021. Over the period under review, imports continue to indicate a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the United Arab Emirates (X kg) was the main supplier of gold to Libya, accounting for a 97% share of total imports. Moreover, gold imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Turkey (X kg), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume from the United Arab Emirates amounted to +72.2%.

In value terms, the United Arab Emirates ($X) constituted the largest supplier of gold to Libya, comprising 98% of total imports. The second position in the ranking was held by Turkey ($X), with a 1.5% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from the United Arab Emirates stood at +76.1%.

Import Prices by Country

The average gold import price stood at $X per kg in 2021, surging by 44% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 an increase of 85% against the previous year. Over the period under review, average import prices reached the peak figure in 2021 and is likely to see gradual growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United Arab Emirates ($X per kg), while the price for Turkey totaled $X per kg.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+1.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for gold in the world?

The countries with the highest volumes of consumption in 2021 were the UK, China and India, together comprising 38% of global consumption. These countries were followed by Switzerland, the United Arab Emirates, the United States, Belgium, Hong Kong SAR, Thailand, Argentina, Germany, Peru and Canada, which together accounted for a further 38%.

What are the largest producers of gold in the world?

The UK constituted the country with the largest volume of gold production, comprising approx. 15% of total volume. Moreover, gold production in the UK exceeded the figures recorded by the second-largest producer, the United States, twofold. The United Arab Emirates ranked third in terms of total production with a 7.5% share.

What are the leading suppliers of gold to Libya?

In value terms, the United Arab Emirates constituted the largest supplier of gold to Libya, comprising 98% of total imports. The second position in the ranking was taken by Turkey, with a 1.5% share of total imports.

What are the leading importers of gold from Libya?

In value terms, the largest markets for gold exported from Libya were the United Arab Emirates, Turkey and Italy, with a combined 100% share of total exports.

What is the average export price for gold in Libya?

The average gold export price stood at $52,694 per kg in 2021, surging by 28% against the previous year.

What is the average import price for gold in Libya?

In 2021, the average gold import price amounted to $59,198 per kg, jumping by 44% against the previous year.

This report provides an in-depth analysis of the gold market in Libya. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 24412030 - Gold, unwrought or in powder form for non-monetary use (including plated with platinum)
Prodcom 24412035 -
Prodcom 24412040 -
Prodcom 24412050 - Gold, in semi-manufactured forms for non-monetary use (including plated with platinum) (excluding unwrought or in powder form)
Prodcom 24412070 - Monetary gold (including gold plated with platinum)

Country coverage:

Libya

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Libya
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023