SADC: Semi-Manufactured Gold Market 2024

Semi-Manufactured Gold Market Size in SADC

In 2022, after two years of decline, there was growth in the SADC semi-manufactured gold market, when its value increased by 0.4% to $X. Overall, consumption enjoyed a buoyant increase. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Semi-Manufactured Gold Production in SADC

In value terms, semi-manufactured gold production fell modestly to $X in 2022 estimated in export price. The total production indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +55.9% against 2018 indices. The pace of growth appeared the most rapid in 2020 with an increase of 25% against the previous year. Over the period under review, production reached the peak level at $X in 2021, and then reduced modestly in the following year.

Semi-Manufactured Gold Exports

Exports in SADC

In 2022, semi-manufactured gold exports in SADC reduced dramatically to X tons, with a decrease of -19.2% on the previous year's figure. In general, exports saw a pronounced descent. The growth pace was the most rapid in 2018 with an increase of 18%. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, semi-manufactured gold exports reduced rapidly to $X in 2022. Over the period under review, exports showed a pronounced curtailment. The pace of growth appeared the most rapid in 2020 when exports increased by 41%. Over the period under review, the exports hit record highs at $X in 2021, and then dropped rapidly in the following year.

Exports by Country

South Africa represented the largest exporting country with an export of about X tons, which reached 65% of total exports. It was distantly followed by Zimbabwe (X tons) and Namibia (X tons), together generating a 32% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to semi-manufactured gold exports from South Africa stood at -5.6%. At the same time, Namibia (+11.5%) and Zimbabwe (+8.5%) displayed positive paces of growth. Moreover, Namibia emerged as the fastest-growing exporter exported in SADC, with a CAGR of +11.5% from 2012-2022. From 2012 to 2022, the share of Zimbabwe and Namibia increased by +17 and +4.9 percentage points, respectively.

In value terms, South Africa ($X) remains the largest semi-manufactured gold supplier in SADC, comprising 66% of total exports. The second position in the ranking was taken by Zimbabwe ($X), with a 25% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in South Africa stood at -4.9%. The remaining exporting countries recorded the following average annual rates of exports growth: Zimbabwe (+12.3% per year) and Namibia (+15.0% per year).

Export Prices by Country

The export price in SADC stood at $X per kg in 2022, remaining stable against the previous year. Over the period under review, the export price, however, saw mild growth. The most prominent rate of growth was recorded in 2020 an increase of 23%. Over the period under review, the export prices attained the maximum at $X per kg in 2021, and then fell slightly in the following year.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was South Africa ($X per kg), while Namibia ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Zimbabwe (+3.5%), while the other leaders experienced more modest paces of growth.

Semi-Manufactured Gold Imports

Imports in SADC

In 2022, supplies from abroad of gold, in semi-manufactured forms decreased by -15.8% to X tons, falling for the fourth year in a row after four years of growth. Over the period under review, imports, however, posted significant growth. The pace of growth was the most pronounced in 2017 when imports increased by 10,153% against the previous year. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, semi-manufactured gold imports declined to $X in 2022. In general, imports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2017 when imports increased by 629%. The level of import peaked at $X in 2021, and then shrank modestly in the following year.

Imports by Country

The countries with the highest levels of semi-manufactured gold imports in 2022 were South Africa (X tons), together resulting at 100% of total import.

South Africa was also the fastest-growing in terms of the gold, in semi-manufactured forms imports, with a CAGR of +92.2% from 2012 to 2022. From 2012 to 2022, the share of South Africa increased by +89 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) constitutes the largest market for imported gold, in semi-manufactured forms in SADC.

From 2012 to 2022, the average annual rate of growth in terms of value in South Africa stood at +114.1%.

Import Prices by Country

In 2022, the import price in SADC amounted to $X per kg, increasing by 18% against the previous year. Overall, the import price, however, recorded a abrupt setback. The growth pace was the most rapid in 2016 when the import price increased by 378%. Over the period under review, import prices attained the maximum at $X per kg in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for South Africa.

From 2012 to 2022, the rate of growth in terms of prices for South Africa amounted to +11.4% per year.

Source: IndexBox Platform

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