United Kingdom: Semi-Manufactured Gold Market 2024

Semi-Manufactured Gold Market Size in the UK

In 2022, the UK semi-manufactured gold market decreased by -43.3% to $X, falling for the second year in a row after two years of growth. Over the period under review, consumption recorded a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Semi-Manufactured Gold Production in the UK

In value terms, semi-manufactured gold production reached $X in 2022 estimated in export price. Over the period under review, production, however, saw a mild reduction. The most prominent rate of growth was recorded in 2017 with an increase of 5.1% against the previous year. Over the period under review, production reached the peak level at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Join Us at HANNOVER MESSE 2024

Don’t miss your chance to connect with us directly. Schedule a personal meeting to dive deeper into how solutions.
Hall 002, Stand C10. 22 - 26 April 2024 | Hannover, Germany

Book Your Meeting

Semi-Manufactured Gold Exports

Exports from the UK

In 2022, overseas shipments of gold, in semi-manufactured forms increased by 75% to X tons, rising for the second year in a row after two years of decline. Overall, exports recorded a strong expansion. The growth pace was the most rapid in 2013 with an increase of 685% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, semi-manufactured gold exports soared to $X in 2022. In general, exports posted a significant expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 3,628% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Switzerland (X tons), China (X tons) and Hong Kong SAR (X tons) were the main destinations of semi-manufactured gold exports from the UK, together comprising 83% of total exports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +253.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Switzerland ($X), China ($X) and Hong Kong SAR ($X) were the largest markets for semi-manufactured gold exported from the UK worldwide, with a combined 83% share of total exports.

In terms of the main countries of destination, China, with a CAGR of +286.6%, saw the highest rates of growth with regard to 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

In 2022, the average semi-manufactured gold export price amounted to $X per kg, flattening at the previous year. Over the period under review, the export price, however, recorded a resilient increase. The pace of growth appeared the most rapid in 2013 when the average export price increased by 375% against the previous year. The export price peaked at $X per kg in 2021, and then dropped slightly in the following year.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the Czech Republic ($X per kg) and China ($X per kg), while the average price for exports to Germany ($X per kg) and Singapore ($X per kg) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Czech Republic (+57.1%), while the prices for the other major destinations experienced more modest paces of growth.

Semi-Manufactured Gold Imports

Imports into the UK

For the third consecutive year, the UK recorded decline in overseas purchases of gold, in semi-manufactured forms, which decreased by -21.1% to X tons in 2022. In general, imports, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2016 when imports increased by 233%. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, semi-manufactured gold imports dropped sharply to $X in 2022. Over the period under review, imports, however, recorded a significant expansion. The growth pace was the most rapid in 2013 when imports increased by 268%. Imports peaked at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

Canada (X tons), the United States (X tons) and Kazakhstan (X tons) were the main suppliers of semi-manufactured gold imports to the UK, together accounting for 58% of total imports. The Philippines, Switzerland, Russia, France, Mexico, Spain, Brazil, Uzbekistan, South Africa and Turkey lagged somewhat behind, together accounting for a further 36%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Philippines (with a CAGR of +239.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Canada ($X), the United States ($X) and Kazakhstan ($X) were the largest semi-manufactured gold suppliers to the UK, with a combined 58% share of total imports. The Philippines, Switzerland, Russia, France, Mexico, Spain, Brazil, Uzbekistan, South Africa and Turkey lagged somewhat behind, together comprising a further 36%.

In terms of the main suppliers, the Philippines, with a CAGR of +405.8%, 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

The average semi-manufactured gold import price stood at $X per kg in 2022, reducing by -1.8% against the previous year. Overall, import price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +4.2% 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 decreased by -3.1% against 2020 indices. The most prominent rate of growth was recorded in 2020 when the average import price increased by 27%. As a result, import price reached the peak level of $X per kg. From 2021 to 2022, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Uzbekistan ($X per kg), while the price for Turkey ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+49.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :