MERCOSUR: Semi-Manufactured Gold Market 2024

Semi-Manufactured Gold Market Size in MERCOSUR

For the third consecutive year, the MERCOSUR semi-manufactured gold market recorded growth in sales value, which increased by 40% to $X in 2022. Overall, consumption enjoyed a strong expansion. Over the period under review, the market attained the maximum level in 2022 and is expected to retain growth in years to come.

Semi-Manufactured Gold Production in MERCOSUR

In value terms, semi-manufactured gold production expanded notably to $X in 2022 estimated in export price. The total production indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +87.4% against 2015 indices. The pace of growth was the most pronounced in 2018 when the production volume increased by 21% against the previous year. The level of production peaked in 2022 and is likely to see gradual growth in years to come.

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Semi-Manufactured Gold Exports

Exports in MERCOSUR

Semi-manufactured gold exports contracted to X tons in 2022, shrinking by -4.4% against the year before. Overall, exports showed a slight descent. The most prominent rate of growth was recorded in 2016 with an increase of 14% against the previous year. The volume of export peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, semi-manufactured gold exports declined modestly to $X in 2022. Over the period under review, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when exports increased by 24% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then dropped in the following year.

Exports by Country

In 2022, Brazil (X tons) was the main exporter of gold, in semi-manufactured forms, making up 69% of total exports. Suriname (X tons) took the second position in the ranking, distantly followed by Colombia (X tons). All these countries together held near 30% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to semi-manufactured gold exports from Brazil stood at -3.3%. Suriname experienced a relatively flat trend pattern. Colombia (-8.1%) illustrated a downward trend over the same period. Suriname (+24 p.p.) significantly strengthened its position in terms of the total exports, while Colombia and Brazil saw its share reduced by -6.3% and -13.7% from 2012 to 2022, respectively.

In value terms, Brazil ($X) remains the largest semi-manufactured gold supplier in MERCOSUR, comprising 69% of total exports. The second position in the ranking was held by Suriname ($X), with a 25% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Brazil stood at -2.7%. The remaining exporting countries recorded the following average annual rates of exports growth: Suriname (0.0% per year) and Colombia (-3.6% per year).

Export Prices by Country

The export price in MERCOSUR stood at $X per kg in 2022, rising by 1.6% against the previous year. Export price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, semi-manufactured gold export price increased by +60.5% against 2015 indices. The most prominent rate of growth was recorded in 2020 when the export price increased by 29%. Over the period under review, the export prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Suriname ($X per kg), while Colombia ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Colombia (+4.9%).

Semi-Manufactured Gold Imports

Imports in MERCOSUR

In 2022, semi-manufactured gold imports in MERCOSUR amounted to X kg, growing by 3.7% on 2021. Overall, imports, however, saw a abrupt downturn. The most prominent rate of growth was recorded in 2021 when imports increased by 35%. Over the period under review, imports attained the peak figure at X kg in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, semi-manufactured gold imports fell rapidly to $X in 2022. In general, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 31% against the previous year. As a result, imports attained the peak of $X, and then fell dramatically in the following year.

Imports by Country

Brazil dominates imports structure, finishing at X kg, which was near 77% of total imports in 2022. Argentina (X kg) ranks second in terms of the total imports with a 9.2% share, followed by Peru (5.1%). The following importers - Chile (X kg) and Colombia (X kg) - together made up 6.5% of total imports.

From 2012 to 2022, average annual rates of growth with regard to semi-manufactured gold imports into Brazil stood at -5.0%. At the same time, Peru (+11.1%) and Chile (+5.6%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing importer imported in MERCOSUR, with a CAGR of +11.1% from 2012-2022. By contrast, Colombia (-11.5%) and Argentina (-16.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Brazil, Peru and Chile increased by +13, +4.2 and +3 percentage points, respectively.

In value terms, Brazil ($X) constitutes the largest market for imported gold, in semi-manufactured forms in MERCOSUR, comprising 90% of total imports. The second position in the ranking was held by Peru ($X), with a 4.5% share of total imports. It was followed by Chile, with a 2.8% share.

In Brazil, semi-manufactured gold imports remained relatively stable over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Peru (+14.6% per year) and Chile (+14.8% per year).

Import Prices by Country

The import price in MERCOSUR stood at $X per kg in 2022, falling by -18.6% against the previous year. Over the period under review, the import price, however, saw a strong increase. The pace of growth appeared the most rapid in 2016 an increase of 93% against the previous year. Over the period under review, import prices hit record highs at $X per kg in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Brazil ($X per kg), while Argentina ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+13.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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