Malaysia: Gold Market 2022

Gold Market Size in Malaysia

In 2021, the Malaysian gold market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Overall, the total consumption indicated a strong increase from 2012 to 2021: its value 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. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in the immediate term.

Gold Production in Malaysia

In value terms, gold production reduced modestly to $X in 2021 estimated in export price. Over the period under review, production showed a deep contraction. The most prominent rate of growth was recorded in 2018 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Gold Exports

Exports from Malaysia

In 2021, shipments abroad of gold increased by X% to X tons, rising for the fourth year in a row after three years of decline. In general, exports, however, continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2020 with an increase of X%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, gold exports expanded to $X in 2021. Over the period under review, exports, however, recorded a abrupt slump. The most prominent rate of growth was recorded in 2020 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Hong Kong SAR (X kg), Singapore (X kg) and Switzerland (X kg) were the main destinations of gold exports from Malaysia, with a combined X% share of total exports.

From 2012 to 2021, the biggest increases were in Switzerland (with a CAGR of +X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($X), Switzerland ($X) and Singapore ($X) were the largest markets for gold exported from Malaysia worldwide, with a combined X% share of total exports.

Among the main countries of destination, Switzerland, 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

In 2021, the average gold export price amounted to $X per kg, growing by X% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of X%. The export price peaked at $X per kg in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was China ($X per kg), while the average price for exports to Thailand ($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 Switzerland (+X%), while the prices for the other major destinations experienced more modest paces of growth.

Gold Imports

Imports into Malaysia

In 2021, supplies from abroad of gold was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, total imports indicated a resilient 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. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, gold imports surged to $X in 2021. In general, total imports indicated a remarkable 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. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, Singapore (X tons) constituted the largest supplier of gold to Malaysia, with a X% share of total imports. Moreover, gold imports from Singapore exceeded the figures recorded by the second-largest supplier, Switzerland (X tons), threefold. The United Arab Emirates (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Singapore amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (+X% per year) and the United Arab Emirates (+X% per year).

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

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

Import Prices by Country

In 2021, the average gold import price amounted to $X per kg, standing approx. at the previous year. In general, import price indicated a temperate expansion from 2012 to 2021: its price 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, gold import price increased by +X% against 2018 indices. The most prominent rate of growth was recorded in 2020 when the average import price increased by X%. The import price peaked in 2021 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2021, the highest price was recorded for prices from Hong Kong SAR ($X per kg) and Singapore ($X per kg), while the price for Turkey ($X per kg) and Australia ($X per kg) were amongst the lowest.

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

Source: IndexBox Market Intelligence Platform

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