Scandinavia: Semi-Manufactured Gold Market 2024

Semi-Manufactured Gold Market Size in Scandinavia

In 2022, after four years of growth, there was decline in the Scandinavia semi-manufactured gold market, when its value decreased by -4.6% to $X. Over the period under review, consumption recorded noticeable growth. Over the period under review, the market hit record highs at $X in 2021, and then fell modestly in the following year.

Semi-Manufactured Gold Production in Scandinavia

In value terms, semi-manufactured gold production shrank to $X in 2022 estimated in export price. In general, production, however, enjoyed a noticeable expansion. The pace of growth was the most pronounced in 2020 when the production volume increased by 85% against the previous year. The level of production peaked at $X in 2021, and then shrank in the following year.

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Semi-Manufactured Gold Exports

Exports in Scandinavia

In 2022, the amount of gold, in semi-manufactured forms exported in Scandinavia soared to X tons, jumping by 25% against 2021 figures. Over the period under review, exports, however, recorded a noticeable shrinkage. The growth pace was the most rapid in 2020 with an increase of 181%. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, semi-manufactured gold exports soared to $X in 2022. In general, exports, however, continue to indicate a perceptible slump. The pace of growth was the most pronounced in 2020 with an increase of 326%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Sweden was the largest exporting country with an export of about X tons, which finished at 66% of total exports. It was distantly followed by Norway (X kg), comprising a 31% share of total exports. Finland (X kg) followed a long way behind the leaders.

Sweden was also the fastest-growing in terms of the gold, in semi-manufactured forms exports, with a CAGR of +23.3% from 2012 to 2022. Norway (-9.4%) and Finland (-26.1%) illustrated a downward trend over the same period. Sweden (+61 p.p.) significantly strengthened its position in terms of the total exports, while Norway and Finland saw its share reduced by -19.2% and -41.4% from 2012 to 2022, respectively.

In value terms, Sweden ($X), Norway ($X) and Finland ($X) appeared to be the countries with the highest levels of exports in 2022.

Sweden, with a CAGR of +28.5%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in Scandinavia stood at $X per kg in 2022, with a decrease of -6% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the export price increased by 51%. Over the period under review, the export prices hit record highs at $X per kg in 2021, and then shrank 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 Norway ($X per kg), while Finland ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+4.2%), while the other leaders experienced mixed trends in the export price figures.

Semi-Manufactured Gold Imports

Imports in Scandinavia

Semi-manufactured gold imports soared to X tons in 2022, with an increase of 27% against the previous year. Over the period under review, imports, however, recorded a perceptible reduction. The most prominent rate of growth was recorded in 2016 when imports increased by 28%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, semi-manufactured gold imports skyrocketed to $X in 2022. In general, imports continue to indicate a mild increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Sweden represented the largest importing country with an import of about X tons, which reached 52% of total imports. Finland (X kg) ranks second in terms of the total imports with a 29% share, followed by Norway (19%).

From 2012 to 2022, the biggest increases were recorded for Sweden (with a CAGR of +5.6%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, the largest semi-manufactured gold importing markets in Scandinavia were Finland ($X), Sweden ($X) and Norway ($X), with a combined 99.9% share of total imports.

Among the main importing countries, Finland, with a CAGR of +5.2%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Scandinavia stood at $X per kg in 2022, surging by 37% against the previous year. Import price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, semi-manufactured gold import price increased by +89.9% against 2019 indices. The pace of growth appeared the most rapid in 2020 when the import price increased by 38% against the previous year. Over the period under review, import prices attained the peak figure in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Finland ($X per kg), while Norway ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+12.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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