Switzerland: Gold Market 2022

Gold Market Size in Switzerland

The Swiss gold market soared to $X in 2021, with an increase of X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption continues to indicate a resilient expansion. Over the period under review, the market attained the maximum level in 2021 and is expected to retain growth in the immediate term.

Gold Exports

Exports from Switzerland

In 2021, shipments abroad of gold increased by X% to X tons for the first time since 2016, thus ending a four-year declining trend. Overall, exports, however, continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, gold exports skyrocketed to $X in 2021. In general, exports showed a pronounced increase. The most prominent rate of growth was recorded in 2013 when exports increased by X%. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

India (X tons), China (X tons) and the United States (X tons) were the main destinations of gold exports from Switzerland, together accounting for X% of total exports.

From 2012 to 2021, the biggest increases were in the United States (with a CAGR of +X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, India ($X), China ($X) and the United States ($X) were the largest markets for gold exported from Switzerland worldwide, together accounting for X% of total exports.

The United States, with a CAGR of +X%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination 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, increasing by X% against the previous year. In general, export price indicated strong growth 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 export price increased by +X% against 2015 indices. The growth pace was the most rapid in 2013 when the average export price increased by X% against the previous year. Over the period under review, the average export prices reached the maximum in 2021 and is expected to retain growth in the near future.

Average prices varied noticeably for the major foreign markets. In 2021, the countries with the highest prices were the United States ($X per kg) and the UK ($X per kg), while the average price for exports to Italy ($X per kg) and France ($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 the United Arab Emirates (+X%), while the prices for the other major destinations experienced more modest paces of growth.

Gold Imports

Imports into Switzerland

Gold imports into Switzerland soared to X tons in 2021, increasing by X% on the previous year. Overall, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 when imports increased by X%. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports failed to regain momentum.

In value terms, gold imports skyrocketed to $X in 2021. Over the period under review, imports, however, saw a relatively flat trend pattern. Imports peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the UK (X tons) constituted the largest gold supplier to Switzerland, accounting for a X% share of total imports. Moreover, gold imports from the UK exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold. Peru (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2021, the average annual growth rate of volume from the UK amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-X% per year) and Peru (+X% per year).

In value terms, the UK ($X) constituted the largest supplier of gold to Switzerland, comprising X% of total imports. The second position in the ranking was held by the United States ($X), with a X% share of total imports. It was followed by the United Arab Emirates, with an X% share.

From 2012 to 2021, the average annual growth rate of value from the UK stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-X% per year) and the United Arab Emirates (-X% per year).

Import Prices by Country

The average gold import price stood at $X per kg in 2021, falling by -X% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of X%. As a result, import price attained the peak level of $X per kg, and then shrank in the following year.

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

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

Source: IndexBox Market Intelligence Platform

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