SADC: Gold Market 2024

Gold Market Size in SADC

The SADC gold market contracted dramatically to $X in 2021, which is down by -22.1% against the previous year. Over the period under review, consumption, however, showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X, and then dropped notably in the following year.

Gold Production in SADC

In value terms, gold production fell significantly to $X in 2021 estimated in export price. In general, production, however, showed a strong expansion. The most prominent rate of growth was recorded in 2020 when the production volume increased by 78%. As a result, production attained the peak level of $X, and then fell notably in the following year.

Gold Exports

Exports in SADC

In 2021, approx. X tons of gold were exported in SADC; surging by 12% against the previous year. Over the period under review, exports enjoyed a prominent increase. The most prominent rate of growth was recorded in 2015 with an increase of 2,044%. As a result, the exports attained the peak of X tons. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, gold exports surged to $X in 2021. In general, exports recorded a resilient increase. The most prominent rate of growth was recorded in 2015 when exports increased by 198%. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Tanzania represented the largest exporter of gold in SADC, with the volume of exports finishing at X tons, which was near 53% of total exports in 2021. Zimbabwe (X tons) held a 29% share (based on physical terms) of total exports, which put it in second place, followed by Namibia (8%) and Swaziland (4.8%). The following exporters - Madagascar (X tons) and Malawi (X tons) - each resulted at a 4.1% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Malawi (with a CAGR of +89.8%), while the other leaders experienced more modest paces of growth.

In value terms, the largest gold supplying countries in SADC were Tanzania ($X), Zimbabwe ($X) and Namibia ($X), with a combined 89% share of total exports. These countries were followed by Swaziland, Madagascar and Malawi, which together accounted for a further 9.5%.

Malawi, with a CAGR of +105.1%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in SADC stood at $X per kg in 2021, surging by 6.5% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 730%. The level of export peaked in 2021 and is likely to see gradual growth in years to come.

Average prices varied noticeably amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Swaziland ($X per kg) and Madagascar ($X per kg), while Tanzania ($X per kg) and Namibia ($X per kg) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malawi (+8.1%), while the other leaders experienced more modest paces of growth.

Gold Imports

Imports in SADC

In 2021, approx. X tons of gold were imported in SADC; increasing by 16% compared with 2020. Overall, imports continue to indicate significant growth. The pace of growth appeared the most rapid in 2015 when imports increased by 223% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, gold imports expanded remarkably to $X in 2021. In general, imports saw a significant expansion. The growth pace was the most rapid in 2017 when imports increased by 386% against the previous year. The level of import peaked in 2021 and is likely to continue growth in the immediate term.

Imports by Country

Mozambique (X tons) and Malawi (X tons) were the largest importers of gold in 2021, reaching approx. 43% and 43% of total imports, respectively. It was distantly followed by South Africa (X tons), generating an 11% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Malawi (with a CAGR of +218.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, South Africa ($X) constitutes the largest market for imported gold in SADC, comprising 73% of total imports. The second position in the ranking was held by Malawi ($X), with a 3.2% share of total imports.

In South Africa, gold imports expanded at an average annual rate of +128.5% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Malawi (+300.8% per year) and Mozambique (+136.3% per year).

Import Prices by Country

The import price in SADC stood at $X per kg in 2021, which is down by -7.1% against the previous year. Over the period under review, the import price showed a deep downturn. The pace of growth appeared the most rapid in 2017 an increase of 104% against the previous year. Over the period under review, import prices hit record highs at $X per kg in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was South Africa ($X per kg), while Mozambique ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (+62.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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