Report Update Apr 1, 2024

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

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Myanmar: Gold Market 2024

Gold Market Size in Myanmar

In 2021, the Myanmar's gold market decreased by -48.3% to $X for the first time since 2018, thus ending a two-year rising trend. Over the period under review, consumption saw a abrupt slump. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Gold Production in Myanmar

In value terms, gold production declined modestly to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a abrupt decline. The most prominent rate of growth was recorded in 2014 when the production volume increased by 59%. Gold production peaked at $X in 2015; however, from 2016 to 2021, production remained at a lower figure.

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Gold Exports

Exports from Myanmar

In 2021, overseas shipments of gold decreased by -58.3% to X kg, falling for the fourth year in a row after six years of growth. Overall, exports continue to indicate a precipitous shrinkage. The pace of growth appeared the most rapid in 2015 with an increase of 3.6% against the previous year. The exports peaked at X kg in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, gold exports contracted markedly to $X in 2021. In general, exports saw a abrupt decrease. The pace of growth appeared the most rapid in 2015 with an increase of 21% against the previous year. Over the period under review, the exports reached the maximum at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

Singapore (X kg) was the main destination for gold exports from Myanmar, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Singapore amounted to -23.2%.

In value terms, Singapore ($X) also remains the key foreign market for gold exports from Myanmar.

From 2012 to 2021, the average annual growth rate of value to Singapore stood at -17.0%.

Export Prices by Country

In 2021, the average gold export price amounted to $X per kg, jumping by 29% against the previous year. In general, export price indicated a strong increase from 2012 to 2021: its price increased at an average annual rate of +8.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, gold export price increased by +100.9% against 2012 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Singapore.

From 2012 to 2021, the rate of growth in terms of prices for Singapore amounted to +8.1% per year.

Gold Imports

Imports into Myanmar

In 2021, after three years of growth, there was significant decline in overseas purchases of gold, when their volume decreased by -47.2% to X kg. Over the period under review, imports, however, continue to indicate a mild increase. The most prominent rate of growth was recorded in 2019 with an increase of 361%. Over the period under review, imports reached the maximum at X tons in 2020, and then fell notably in the following year.

In value terms, gold imports declined markedly to $X in 2021. Overall, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of 374% against the previous year. Imports peaked at $X in 2020, and then reduced rapidly in the following year.

Imports by Country

China (X kg), Thailand (X kg) and Singapore (X kg) were the main suppliers of gold imports to Myanmar, with a combined 100% share of total imports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +88.8%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Thailand ($X) constituted the largest supplier of gold to Myanmar, comprising 68% of total imports. The second position in the ranking was taken by China ($X), with a 30% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Thailand amounted to -3.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+196.7% per year) and Singapore (+42.6% per year).

Import Prices by Country

The average gold import price stood at $X per kg in 2021, reducing by -19.2% against the previous year. Overall, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 an increase of 4.3% against the previous year. Over the period under review, average import prices hit record highs at $X per kg in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Thailand ($X per kg), while the price for Singapore ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+58.0%), while the prices for the other major suppliers experienced more modest paces of growth.

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 accounting for 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, 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 third position in this ranking was taken by the United Arab Emirates, with a 7.5% share.

What are the leading suppliers of gold to Myanmar?

In value terms, Thailand constituted the largest supplier of gold to Myanmar, comprising 68% of total imports. The second position in the ranking was taken by China, with a 30% share of total imports.

What are the leading importers of gold from Myanmar?

In value terms, Singapore remains the key foreign market for gold exports from Myanmar.

What is the average export price for gold in Myanmar?

The average gold export price stood at $58,872 per kg in 2021, picking up by 29% against the previous year.

What is the average import price for gold in Myanmar?

In 2021, the average gold import price amounted to $39,761 per kg, waning by -19.2% against the previous year.

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

Myanmar

Data coverage:

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