Spain: Gold Market 2022

Gold Market Size in Spain

In 2021, after two years of growth, there was significant decline in the Spanish gold market, when its value decreased by -X% to $X. Over the period under review, consumption continues to indicate a dramatic downturn. Over the period under review, the market reached the peak level at $X in 2020, and then fell sharply in the following year.

Gold Production in Spain

In value terms, gold production expanded to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +X% from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Gold Exports

Exports from Spain

In 2021, after eight years of decline, there was significant growth in overseas shipments of gold, when their volume increased by X% to X tons. Over the period under review, exports, however, continue to indicate a sharp downturn. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, gold exports surged to $X in 2021. Overall, exports saw a relatively flat trend pattern. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The UK (X tons), France (X tons) and Italy (X tons) were the main destinations of gold exports from Spain, with a combined X% share of total exports. Poland and Switzerland lagged somewhat behind, together accounting for a further X 2012 to 2021, the biggest increases were in Poland (with a CAGR of +X%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the UK ($X) emerged as the key foreign market for gold exports from Spain, comprising X% of total exports. The second position in the ranking was taken by France ($X), with a X% share of total exports. It was followed by Italy, with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the UK stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+X% per year) and Italy (-X% per year).

Export Prices by Country

In 2021, the average gold export price amounted to $X per kg, growing by X% against the previous year. Over the period under review, the export price recorded a significant expansion. The most prominent rate of growth was recorded in 2016 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is likely to see steady growth in the near future.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was the UK ($X per kg), while the average price for exports to Poland ($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 Italy (+X%), while the prices for the other major destinations experienced more modest paces of growth.

Gold Imports

Imports into Spain

In 2021, approx. X tons of gold were imported into Spain; jumping by X% against the previous year's figure. In general, imports continue to indicate a buoyant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, gold imports soared to $X in 2021. Over the period under review, imports showed a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the UK (X tons) constituted the largest gold supplier to Spain, with a X% share of total imports. Moreover, gold imports from the UK exceeded the figures recorded by the second-largest supplier, Italy (X tons), twofold. South Africa (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the UK amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+X% per year) and South Africa (+X% per year).

In value terms, the UK ($X) constituted the largest supplier of gold to Spain, comprising X% of total imports. The second position in the ranking was taken by Italy ($X), with a X% share of total imports. It was followed by South Africa, with a X% share.

From 2012 to 2021, the average annual growth rate of value from the UK totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+X% per year) and South Africa (+X% per year).

Import Prices by Country

In 2021, the average gold import price amounted to $X per kg, growing by X% against the previous year. Overall, the import price saw a remarkable increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

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

Source: IndexBox Market Intelligence Platform

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