Poland: Gold Market 2022

Gold Market Size in Poland

The Polish gold market shrank rapidly to $X in 2021, reducing by -X% against the previous year. In general, consumption, however, recorded a significant expansion. Over the period under review, the market hit record highs at $X in 2020, and then dropped significantly in the following year.

Gold Production in Poland

In value terms, gold production shrank to $X in 2021 estimated in export price. Over the period under review, production, however, recorded mild growth. The growth pace was the most rapid in 2016 when the production volume increased by X% against the previous year. Over the period under review, production reached the maximum level at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Gold Exports

Exports from Poland

Gold exports from Poland declined rapidly to X tons in 2021, with a decrease of -X% compared with 2020. Over the period under review, exports faced a deep contraction. The growth pace was the most rapid in 2019 when exports increased by X% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, gold exports fell notably to $X in 2021. In general, exports continue to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Switzerland (X kg) was the main destination for gold exports from Poland, accounting for a X% share of total exports. Moreover, gold exports to Switzerland exceeded the volume sent to the second major destination, Germany (X kg), threefold. Bulgaria (X kg) ranked third in terms of total exports with an X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Switzerland stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-X% per year) and Bulgaria (+X% per year).

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

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

Export Prices by Country

In 2021, the average gold export price amounted to $X per kg, rising by X% against the previous year. Overall, the export price showed modest growth. The growth pace was the most rapid in 2018 when the average export price increased by X% against the previous year. The export price peaked in 2021 and is likely to see gradual growth in the near future.

Average prices varied noticeably for the major external markets. In 2021, the highest price was recorded for prices to Italy ($X per kg) and Lithuania ($X per kg), while the average price for exports to Latvia ($X per kg) and Sweden ($X per kg) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Bulgaria (+X%), while the prices for the other major destinations experienced more modest paces of growth.

Gold Imports

Imports into Poland

In 2021, purchases abroad of gold increased by X% to X tons, rising for the second year in a row after two years of decline. Over the period under review, imports continue to indicate a buoyant expansion. The pace of growth was the most pronounced in 2017 when imports increased by X%. Imports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, gold imports skyrocketed to $X in 2021. Overall, imports recorded a strong expansion. The most prominent rate of growth was recorded in 2017 with an increase of X%. Imports peaked in 2021 and are expected to retain growth in the near future.

Imports by Country

Germany (X tons), Switzerland (X tons) and Austria (X tons) were the main suppliers of gold imports to Poland, together comprising X% of total imports. Estonia, the United States, Belgium and Turkey lagged somewhat behind, together comprising a further X 2012 to 2021, the biggest increases were in Estonia (with a CAGR of +X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest gold suppliers to Poland were Germany ($X), Switzerland ($X) and Austria ($X), with a combined X% share of total imports. These countries were followed by Estonia, Turkey, Belgium and the United States, which together accounted for a further X, with a CAGR of +X%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average gold import price stood at $X per kg in 2021, approximately reflecting the previous year. Over the period under review, import price indicated a tangible expansion 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 2015 indices. The most prominent rate of growth was recorded in 2020 when the average import price increased by X% against the previous year. The import price peaked in 2021 and is likely to see gradual growth in the near future.

Prices varied noticeably country of origin: the country with the highest price was Austria ($X per kg), while the price for the United States ($X per kg) was amongst the lowest.

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

Source: IndexBox Market Intelligence Platform

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