Report Republic of Korea - Gold - Market Analysis, Forecast, Size, Trends and Insights for 499$
Latest Report Update: Oct 16, 2022

Republic of Korea - Gold - Market Analysis, Forecast, Size, Trends and Insights

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Republic of Korea: Gold Market 2022

Gold Market Size in Republic of Korea

The South Korean gold market fell to $X in 2021, shrinking by -X% against the previous year. Over the period under review, consumption recorded a strong increase. Gold consumption peaked at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Gold Production in Republic of Korea

In value terms, gold production contracted remarkably to $X in 2021 estimated in export price. In general, production showed a deep reduction. The most prominent rate of growth was recorded in 2020 when the production volume increased by X% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Gold Exports

Exports from Republic of Korea

In 2021, after three years of growth, there was significant decline in shipments abroad of gold, when their volume decreased by -X% to X tons. Overall, exports recorded a abrupt decline. The growth pace was the most rapid in 2019 when exports increased by X%. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, gold exports fell rapidly to $X in 2021. In general, exports continue to indicate a abrupt slump. The growth pace was the most rapid in 2020 when exports increased by X%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Hong Kong SAR (X tons) was the main destination for gold exports from South Korea, with a X% share of total exports. Moreover, gold exports to Hong Kong SAR exceeded the volume sent to the second major destination, Singapore (X tons), twofold. The third position in this ranking was taken by Vietnam (X tons), with a X% share.

From 2012 to 2021, the average annual growth rate of volume to Hong Kong SAR stood at -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (-X% per year) and Vietnam (+X% per year).

In value terms, Hong Kong SAR ($X) remains the key foreign market for gold exports from South Korea, comprising X% of total exports. The second position in the ranking was held by Singapore ($X), with a X% share of total exports. It was followed by China, with a X% share.

From 2012 to 2021, the average annual growth rate of value to Hong Kong SAR totaled -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (-X% per year) and China (-X% per year).

Export Prices by Country

In 2021, the average gold export price amounted to $X per kg, reducing by -X% against the previous year. Over the period under review, the export price saw a mild decline. The pace of growth was the most pronounced in 2020 an increase of X%. As a result, the export price attained the peak level of $X per kg, and then contracted in the following year.

Prices varied noticeably country of destination: the country with the highest price was Taiwan (Chinese) ($X per kg), while the average price for exports to Vietnam ($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 Philippines (+X%), while the prices for the other major destinations experienced more modest paces of growth.

Gold Imports

Imports into Republic of Korea

After three years of decline, overseas purchases of gold increased by X% to X tons in 2021. Overall, imports, however, recorded a pronounced decline. The most prominent rate of growth was recorded in 2017 when imports increased by X%. As a result, imports attained the peak of X tons. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, gold imports shrank to $X in 2021. In general, imports, however, showed a deep reduction. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Japan (X tons), Switzerland (X tons) and Hong Kong SAR (X tons) were the main suppliers of gold imports to South Korea, with a combined X% share of total imports. Australia, China, Canada, Germany and Swaziland lagged somewhat behind, together accounting for a further X 2012 to 2021, the biggest increases were in Canada (with a CAGR of +X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), Hong Kong SAR ($X) and Australia ($X) were the largest gold suppliers to South Korea, with a combined X% share of total imports. Switzerland, Canada, China, Swaziland and Germany lagged somewhat behind, together accounting for a further X terms of the main suppliers, Canada, with a CAGR of +X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average gold import price amounted to $X per kg, dropping by -X% against the previous year. In general, the import price showed a slight contraction. 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 at $X per kg in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Hong Kong SAR ($X per kg), while the price for China ($X per kg) was amongst the lowest.

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

Source: IndexBox Market Intelligence Platform

Base Year Historical Period Forecast Period Units
2022 2012-2022 2023-2030 US$, Tons

Frequently Asked Questions (FAQ) :

What are the largest markets for gold in the world?
+
The country with the largest volume of gold consumption was Rwanda, comprising approx. 48% of total volume. Moreover, gold consumption in Rwanda exceeded the figures recorded by the second-largest consumer, India, sixfold. The United Arab Emirates ranked third in terms of total consumption with a 6% share.
What are the largest producers of gold in the world?
+
The countries with the highest volumes of production in 2021 were the United Arab Emirates, the United States and the UK, together comprising 29% of global production. These countries were followed by Hong Kong SAR, Peru, Russia, Argentina, South Africa, China, Australia, Thailand, Mexico and Japan, which together accounted for a further 39%.
What are the leading suppliers of gold to Republic of Korea?
+
In value terms, the largest gold suppliers to South Korea were Japan, Hong Kong SAR and Australia, together accounting for 61% of total imports. These countries were followed by Switzerland, Canada, China, Swaziland and Germany, which together accounted for a further 34%.
What are the leading importers of gold from Republic of Korea?
+
In value terms, Hong Kong SAR remains the key foreign market for gold exports from South Korea, comprising 50% of total exports. The second position in the ranking was held by Singapore, with a 23% share of total exports. It was followed by China, with a 6.5% share.
What is the average export price for gold in Republic of Korea?
+
In 2021, the average gold export price amounted to $46,327 per kg, waning by -11.7% against the previous year.
What is the average import price for gold in Republic of Korea?
+
In 2021, the average gold import price amounted to $43,407 per kg, reducing by -12.2% against the previous year.

This report provides an in-depth analysis of the gold market in Republic of Korea. 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:
• South Korea

Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Trade (exports and imports) in Republic of Korea
• 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:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. 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

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
REPORT DESCRIPTION
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
8. IMPORTS

The Largest Import Supplying Countries

8.1
IMPORTS FROM 2012–2022
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2012–2022
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

LIST OF TABLES
Table 1:
Key Findings In 2022
Table 2:
Market Volume, In Physical Terms, 2012–2022
Table 3:
Market Value, 2012–2022
Table 4:
Per Capita Consumption In 2007-2022
Table 5:
Imports, In Physical Terms, By Country, 2012–2022
Table 6:
Imports, In Value Terms, By Country, 2012–2022
Table 7:
Import Prices, By Country Of Origin, 2012–2022
Table 8:
Exports, In Physical Terms, By Country, 2012–2022
Table 9:
Exports, In Value Terms, By Country, 2012–2022
Table 10:
Export Prices, By Country Of Destination, 2012–2022
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2012–2022
Figure 2:
Market Value, 2012–2022
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007-2022
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007-2022
Figure 5:
Trade Balance, In Physical Terms, 2007-2022
Figure 6:
Trade Balance, In Value Terms, 2007-2022
Figure 7:
Per Capita Consumption, 2007-2022
Figure 8:
Market Forecast To 2030
Figure 9:
Products: Market Size And Growth, By Type
Figure 10:
Products: Average Per Capita Consumption, By Type
Figure 11:
Products: Exports And Growth, By Type
Figure 12:
Products: Export Prices And Growth, By Type
Figure 13:
Production Volume And Growth
Figure 14:
Exports And Growth
Figure 15:
Export Prices And Growth
Figure 16:
Market Size And Growth
Figure 17:
Per Capita Consumption
Figure 18:
Imports And Growth
Figure 19:
Import Prices
Figure 20:
Production, In Physical Terms, 2012–2022
Figure 21:
Production, In Value Terms, 2012–2022
Figure 22:
Imports, In Physical Terms, 2012–2022
Figure 23:
Imports, In Value Terms, 2012–2022
Figure 24:
Imports, In Physical Terms, By Country, 2022
Figure 25:
Imports, In Physical Terms, By Country, 2012–2022
Figure 26:
Imports, In Value Terms, By Country, 2012–2022
Figure 27:
Import Prices, By Country Of Origin, 2012–2022
Figure 28:
Exports, In Physical Terms, 2012–2022
Figure 29:
Exports, In Value Terms, 2012–2022
Figure 30:
Exports, In Physical Terms, By Country, 2022
Figure 31:
Exports, In Physical Terms, By Country, 2012–2022
Figure 32:
Exports, In Value Terms, By Country, 2012–2022
Figure 33:
Export Prices, By Country Of Destination, 2012–2022
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