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

Singapore - Gold - Market Analysis, Forecast, Size, Trends and Insights

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Singapore: Gold Market 2022

Gold Market Size in Singapore

In 2021, the Singaporean gold market decreased by -X% to $X for the first time since 2011, thus ending a nine-year rising trend. Over the period under review, consumption, however, saw significant growth. Over the period under review, the market attained the peak level at $X in 2020, and then reduced rapidly in the following year.

Gold Production in Singapore

In value terms, gold production soared to $X in 2021 estimated in export price. Over the period under review, production showed a buoyant increase. Gold production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Gold Exports

Exports from Singapore

In 2021, overseas shipments 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, exports showed resilient growth. The most prominent rate of growth was recorded in 2015 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2016 to 2021, the growth of the exports remained at a lower figure.

In value terms, gold exports rose markedly to $X in 2021. In general, exports enjoyed significant growth. The most prominent rate of growth was recorded in 2015 when exports increased by X%. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in years to come.

Exports by Country

Cambodia (X tons), Malaysia (X tons) and China (X tons) were the main destinations of gold exports from Singapore, with a combined X% share of total exports. These countries were followed by Thailand, Hong Kong SAR, the Philippines, Switzerland, Indonesia, India and Taiwan (Chinese), which together accounted for a further X 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by India (with a CAGR of +X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for gold exported from Singapore were Malaysia ($X), China ($X) and Cambodia ($X), with a combined X% share of total exports. These countries were followed by Thailand, Hong Kong SAR, Switzerland, Indonesia, India, Taiwan (Chinese) and the Philippines, which together accounted for a further X the main countries of destination, India, with a CAGR of +X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average gold export price stood at $X per kg in 2021, flattening at the previous year. In general, the export price enjoyed a strong increase. The growth pace was the most rapid in 2014 when the average export price increased by X%. The export price peaked in 2021 and is likely to see steady growth in the near future.

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

Gold Imports

Imports into Singapore

Gold imports into Singapore dropped to X tons in 2021, shrinking by -X% against the year before. In general, imports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2015 with an increase of X%. As a result, imports reached the peak of X tons. From 2016 to 2021, the growth of imports remained at a lower figure.

In value terms, gold imports contracted modestly to $X in 2021. Overall, imports, however, showed a significant increase. The most prominent rate of growth was recorded in 2015 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2020, and then declined modestly in the following year.

Imports by Country

Thailand (X tons), Switzerland (X tons) and Australia (X tons) were the main suppliers of gold imports to Singapore, with a combined X% share of total imports.

From 2012 to 2021, the biggest increases were in Thailand (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 Singapore were Thailand ($X), Switzerland ($X) and Australia ($X), with a combined X% share of total imports.

Among the main suppliers, Thailand, with a CAGR of +X%, 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 more modest paces of growth.

Import Prices by Country

In 2021, the average gold import price amounted to $X per kg, with an increase of X% against the previous year. Overall, import price indicated a pronounced 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 2014 indices. The most prominent rate of growth was recorded in 2015 when the average import price increased by X%. The import price peaked in 2021 and is expected to retain growth in years to come.

Average prices varied noticeably amongst the major supplying countries. In 2021, the highest price was recorded for prices from Switzerland ($X per kg) and Hong Kong SAR ($X per kg), while the price for South Korea ($X per kg) and Australia ($X per kg) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+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. Hong Kong SAR, Peru, Russia, Argentina, South Africa, China, Australia, Thailand, Mexico and Japan lagged somewhat behind, together accounting for a further 39%.
What are the leading suppliers of gold to Singapore?
+
In value terms, Thailand, Switzerland and Australia constituted the largest gold suppliers to Singapore, together comprising 55% of total imports.
What are the leading importers of gold from Singapore?
+
In value terms, Malaysia, China and Cambodia were the largest markets for gold exported from Singapore worldwide, together accounting for 64% of total exports. Thailand, Hong Kong SAR, Switzerland, Indonesia, India, Taiwan Chinese) and the Philippines lagged somewhat behind, together accounting for a further 33%.
What is the average export price for gold in Singapore?
+
The average gold export price stood at $53,736 per kg in 2021, almost unchanged from the previous year.
What is the average import price for gold in Singapore?
+
In 2021, the average gold import price amounted to $59,963 per kg, growing by 7.1% against the previous year.

This report provides an in-depth analysis of the gold market in Singapore. 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:
• Singapore

Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Trade (exports and imports) in Singapore
• 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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