Mexico: Gold Market 2022

Gold Market Size in Mexico

The Mexican gold market surged to $X in 2021, picking up by X% against the previous year. Over the period under review, consumption saw a remarkable increase. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Gold Production in Mexico

In value terms, gold production dropped slightly to $X in 2021 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the production volume increased by X%. Gold production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Gold Exports

Exports from Mexico

In 2021, overseas shipments of gold decreased by -X% to X tons, falling for the second year in a row after four years of growth. Overall, exports continue to indicate a abrupt descent. The pace of growth was the most pronounced in 2016 when exports increased by 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 shrank dramatically to $X in 2021. Over the period under review, exports recorded a deep setback. The pace of growth appeared the most rapid in 2016 when exports increased by X% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Switzerland (X tons), the United States (X tons) and Italy (X tons) were the main destinations of gold exports from Mexico.

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

In value terms, the United States ($X) remains the key foreign market for gold exports from Mexico, comprising X% of total exports. The second position in the ranking was taken by Switzerland ($X), with a X% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States amounted to -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (+X% per year) and Italy (-X% per year).

Export Prices by Country

In 2021, the average gold export price amounted to $X per kg, which is down by -X% against the previous year. Over the period under review, the export price continues to indicate a slight decrease. The growth pace was the most rapid in 2016 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs at $X per kg in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

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

Gold Imports

Imports into Mexico

After two years of decline, supplies from abroad of gold increased by X% to X tons in 2021. In general, imports, however, recorded a perceptible downturn. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, gold imports surged to $X in 2021. Overall, imports continue to indicate tangible growth. The growth pace was the most rapid in 2015 with an increase of X%. As a result, imports attained the peak of $X. From 2016 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, the United States (X tons) constituted the largest supplier of gold to Mexico, with a X% share of total imports. Moreover, gold imports from the United States exceeded the figures recorded by the second-largest supplier, Singapore (X kg), fivefold.

From 2012 to 2021, the average annual growth rate of volume from the United States totaled -X%.

In value terms, the United States ($X) constituted the largest supplier of gold to Mexico, comprising X% of total imports. The second position in the ranking was taken by Singapore ($X), with a X% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States amounted to +X%.

Import Prices by Country

In 2021, the average gold import price amounted to $X per kg, growing by X% against the previous year. Overall, the import price posted a resilient expansion. The pace of growth appeared the most rapid in 2014 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 country with the highest price was Singapore ($X per kg), while the price for the United States totaled $X per kg.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+X%).

Source: IndexBox Market Intelligence Platform

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