Pakistan: Gold Market 2022

Gold Market Size in Pakistan

In 2021, after two years of growth, there was decline in the Pakistani gold market, when its value decreased by -X% to $X. In general, consumption enjoyed a significant increase. Gold consumption peaked at $X in 2020, and then contracted modestly in the following year.

Gold Production in Pakistan

In value terms, gold production fell to $X in 2021 estimated in export price. In general, the total production indicated moderate growth 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. Based on 2021 figures, production increased by +X% against 2016 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. Gold production peaked at $X in 2020, and then shrank in the following year.

Gold Exports

Exports from Pakistan

After three years of growth, overseas shipments of gold decreased by X% to X kg in 2021. In general, exports recorded a precipitous contraction. The pace of growth was the most pronounced in 2019 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 declined rapidly to $X in 2021. Overall, exports recorded a precipitous decrease. The pace of growth was the most pronounced in 2019 with an increase of X%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Australia (X kg) was the main destination for gold exports from Pakistan, with a approx. X% share of total exports.

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

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

Export Prices by Country

The average gold export price stood at $X per kg in 2021, which is down by -X% against the previous year. Over the period under review, the export price saw a dramatic setback. The most prominent rate of growth was recorded in 2016 an increase of X% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per kg in 2020, and then reduced notably in the following year.

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

From 2012 to 2021, the rate of growth in terms of prices for Australia amounted to -X% per year.

Gold Imports

Imports into Pakistan

In 2021, after three years of decline, there was significant growth in overseas purchases of gold, when their volume increased by X% to X kg. Overall, imports, however, recorded a abrupt decrease. Over the period under review, imports attained the maximum at X kg in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, gold imports surged to $X in 2021. Over the period under review, imports, however, recorded a relatively flat trend pattern. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the United States (X kg) constituted the largest supplier of gold to Pakistan, with a X% share of total imports. Moreover, gold imports from the United States exceeded the figures recorded by the second-largest supplier, the UK (X kg), threefold. The third position in this ranking was taken by the United Arab Emirates (X kg), with an X% share.

From 2012 to 2021, the average annual growth rate of volume from the United States totaled -X%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (-X% per year) and the United Arab Emirates (+X% per year).

In value terms, the United States ($X) constituted the largest supplier of gold to Pakistan, comprising X% of total imports. The second position in the ranking was taken by the UK ($X), with a X% share of total imports. It was followed by the United Arab Emirates, with an X% share.

From 2012 to 2021, the average annual growth rate of value from the United States was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (-X% per year) and the United Arab Emirates (+X% per year).

Import Prices by Country

The average gold import price stood at $X per kg in 2021, growing by X% against the previous year. In general, import price indicated strong growth 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 2016 indices. The growth pace was the most rapid in 2020 an increase of X%. The import price peaked in 2021 and is likely to see steady growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2021, the countries with the highest prices were Canada ($X per kg) and the UK ($X per kg), while the price for the United States ($X per kg) and the United Arab Emirates ($X per kg) were amongst the lowest.

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

Source: IndexBox Market Intelligence Platform

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