Report Update Apr 1, 2024

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

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Mexico: Gold Market 2024

Gold Market Size in Mexico

The Mexican gold market contracted notably to $X in 2021, falling by -18.1% against the previous year. In general, consumption showed a noticeable curtailment. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market remained at a somewhat lower figure.

Gold Production in Mexico

In value terms, gold production reduced to $X in 2021 estimated in export price. Overall, the total production indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +10.8% against 2019 indices. The pace of growth appeared the most rapid in 2013 when the production volume increased by 28%. Gold production peaked at $X in 2020, and then reduced in the following year.

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Gold Exports

Exports from Mexico

In 2021, overseas shipments of gold increased by 358,128% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, exports, however, showed a abrupt descent. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, gold exports contracted slightly to $X in 2021. Over the period under review, exports, however, recorded a abrupt contraction. The growth pace was the most rapid in 2016 with an increase of 13%. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for gold exports from Mexico, with a 97% share of total exports. It was followed by Switzerland (X tons), with a 2.6% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at -12.5%.

In value terms, the United States ($X) remains the key foreign market for gold exports from Mexico, comprising 75% of total exports. The second position in the ranking was held by Switzerland ($X), with a 24% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States amounted to -7.9%.

Export Prices by Country

In 2021, the average gold export price amounted to $X per kg, falling by 99.9% against the previous year. Over the period under review, the export price, however, continues to indicate prominent growth. The growth pace was the most rapid in 2016 an increase of 323,226%. The export price peaked at $X per kg in 2020, and then contracted notably in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Switzerland ($X per kg), while the average price for exports to the United States stood at $X per kg.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Switzerland (+21.2%), while the prices for the other major destinations experienced mixed trend patterns.

Gold Imports

Imports into Mexico

In 2021, imports of gold into Mexico declined sharply to X tons, shrinking by -18.5% compared with 2020 figures. In general, imports recorded a sharp decline. The growth pace was the most rapid in 2015 when imports increased by 26%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, gold imports amounted to $X in 2021. Overall, imports showed a perceptible decline. The pace of growth was the most pronounced in 2015 when imports increased by 72%. 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) was the main supplier of gold to Mexico, accounting for a 99% share of total imports. It was followed by Singapore (X kg), with a 1.3% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States totaled -22.7%.

In value terms, the United States ($X) constituted the largest supplier of gold to Mexico, comprising 83% of total imports. The second position in the ranking was taken by Singapore ($X), with a 17% share of total imports.

From 2012 to 2021, the average annual growth rate of value from the United States amounted to -2.0%.

Import Prices by Country

The average gold import price stood at $X per kg in 2021, rising by 37% against the previous year. Over the period under review, the import price continues to indicate a significant expansion. The growth pace was the most rapid in 2019 an increase of 37% against the previous year. The import price peaked 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, amid the top importers, 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 (+52.7%).

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 accounting for 38% of global consumption. Switzerland, the United Arab Emirates, the United States, Belgium, Hong Kong SAR, Thailand, Argentina, Germany, Peru and Canada lagged somewhat behind, together comprising a further 38%.

What are the largest producers of gold in the world?

The country with the largest volume of gold production was the UK, accounting for 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 Mexico?

In value terms, the United States constituted the largest supplier of gold to Mexico, comprising 83% of total imports. The second position in the ranking was taken by Singapore, with a 17% share of total imports.

What are the leading importers of gold from Mexico?

In value terms, the United States remains the key foreign market for gold exports from Mexico, comprising 75% of total exports. The second position in the ranking was taken by Switzerland, with a 24% share of total exports.

What is the average export price for gold in Mexico?

In 2021, the average gold export price amounted to $29,782 per kg, with a decrease of 99.9% against the previous year.

What is the average import price for gold in Mexico?

In 2021, the average gold import price amounted to $30,830 per kg, surging by 37% against the previous year.

This report provides an in-depth analysis of the gold market in Mexico. 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:

Mexico

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Mexico
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