Sweden: Gold Market 2022

Gold Market Size in Sweden

The Swedish gold market rose slightly to $X in 2021, increasing by X% against the previous year. In general, consumption, however, continues to indicate a significant increase. Gold consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Gold Production in Sweden

In value terms, gold production dropped to $X in 2021 estimated in export price. Overall, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the production volume increased by X% against the previous year. Over the period under review, production reached the peak level at $X in 2020, and then dropped modestly in the following year.

Gold Exports

Exports from Sweden

In 2021, the amount of gold exported from Sweden fell sharply to X tons, reducing by -X% against 2020. Over the period under review, exports continue to indicate a noticeable setback. The pace of growth was the most pronounced in 2020 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, gold exports shrank to $X in 2021. Overall, exports recorded a slight decline. The growth pace was the most rapid in 2020 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X, and then shrank in the following year.

Exports by Country

The UK (X tons) was the main destination for gold exports from Sweden, accounting for a X% share of total exports. Moreover, gold exports to the UK exceeded the volume sent to the second major destination, Germany (X tons), twofold. The third position in this ranking was taken by Switzerland (X tons), with an X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the UK amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+X% per year) and Switzerland (-X% per year).

In value terms, the UK ($X) remains the key foreign market for gold exports from Sweden, comprising X% of total exports. The second position in the ranking was taken by Germany ($X), with a X% share of total exports. It was followed by Switzerland, with a X% share.

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

Export Prices by Country

The average gold export price stood at $X per kg in 2021, surging by X% against the previous year. Over the last nine-year period, it increased at an average annual rate of +X%. The pace of growth appeared the most rapid in 2016 an increase of X%. The export price peaked in 2021 and is likely to see steady growth in years to come.

Average prices varied noticeably for the major foreign markets. In 2021, the countries with the highest prices were the UK ($X per kg) and Germany ($X per kg), while the average price for exports to Switzerland ($X per kg) and Finland ($X per kg) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Finland (+X%), while the prices for the other major destinations experienced more modest paces of growth.

Gold Imports

Imports into Sweden

In 2021, after two years of growth, there was significant decline in purchases abroad of gold, when their volume decreased by -X% to X tons. In general, total imports indicated a measured increase from 2012 to 2021: its volume increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2019 with an increase of X%. Over the period under review, imports reached the peak figure at X tons in 2020, and then reduced remarkably in the following year.

In value terms, gold imports declined to $X in 2021. Overall, total imports indicated notable growth from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +X% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of X%. As a result, imports reached the peak of $X, and then shrank in the following year.

Imports by Country

In 2021, Norway (X kg) constituted the largest gold supplier to Sweden, with a X% share of total imports. Moreover, gold imports from Norway exceeded the figures recorded by the second-largest supplier, Germany (X kg), twofold. Canada (X kg) ranked third in terms of total imports with a X% share.

From 2012 to 2021, the average annual growth rate of volume from Norway was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+X% per year) and Canada (+X% per year).

In value terms, Norway ($X) constituted the largest supplier of gold to Sweden, comprising X% of total imports. The second position in the ranking was taken by Germany ($X), with a X% share of total imports. It was followed by Finland, with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Norway was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+X% per year) and Finland (+X% per year).

Import Prices by Country

In 2021, the average gold import price amounted to $X per kg, jumping by X% against the previous year. In general, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 an increase of X% against the previous year. Over the period under review, average import prices hit record highs in 2021 and is expected to retain 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 Finland ($X per kg), while the price for Canada ($X per kg) was amongst the lowest.

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

Source: IndexBox Market Intelligence Platform

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