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

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Oct 28, 2023

Turkey's July 2023 Gold Imports Surge by 42% to $2.8B

Turkey Gold Imports

In July 2023, the amount of gold imported into Turkey skyrocketed to 46 tons, picking up by 44% against the month before. Over the period under review, imports posted a notable increase. The pace of growth was the most pronounced in May 2023 with an increase of 120% m-o-m.

In value terms, gold imports soared to $2.8B (IndexBox estimates) in July 2023. In general, imports enjoyed a measured increase. The growth pace was the most rapid in May 2023 when imports increased by 127% month-to-month. Turkey Gold Imports By Country (Million USD)

COUNTRY	Import Value of Gold in Turkey (million USD)
COUNTRY	Jul 2022	Aug 2022	Sep 2022	Oct 2022	Nov 2022	Dec 2022	Jan 2023	Feb 2023	Mar 2023	Apr 2023	May 2023	Jun 2023	Jul 2023
Switzerland	1,291	1,580	1,967	2,228	2,039	2,230	4,141	3,299	1,063	149	770	1,107	2,237
United Arab Emirates	280	279	324	401	239	229	357	313	273	969	1,726	549	337
Hong Kong	N/A	N/A	9.4	N/A	1.1	20.5	131	107	135	0.2	72.6	69.6	22.3
Others	162	485	454	486	304	248	292	270	159	128	258	213	162
Total	1,732	2,344	2,754	3,114	2,584	2,727	4,921	3,989	1,630	1,246	2,826	1,938	2,758

Imports by Country

In July 2023, Switzerland (36 tons) constituted the largest gold supplier to Turkey, accounting for a 79% share of total imports. Moreover, gold imports from Switzerland exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (5.4 tons), sevenfold.

From July 2022 to July 2023, the average monthly growth rate of volume from Switzerland amounted to +3.9%. The remaining supplying countries recorded the following average monthly rates of imports growth: the United Arab Emirates (+0.8% per month) and Hong Kong (+7.4% per month).

In value terms, Switzerland ($2.2B) constituted the largest supplier of gold to Turkey, comprising 81% of total imports. The second position in the ranking was taken by the United Arab Emirates ($337M), with a 12% share of total imports.

From July 2022 to July 2023, the average monthly growth rate of value from Switzerland totaled +4.7%. The remaining supplying countries recorded the following average monthly rates of imports growth: the United Arab Emirates (+1.6% per month) and Hong Kong (+9.0% per month).

Import Prices by Country

In July 2023, the gold price amounted to $60.6M per ton (CIF, Turkey), almost unchanged from the previous month. Overall, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in January 2023 when the average import price increased by 7.3% month-to-month. The import price peaked at $62.8M per ton in May 2023; however, from June 2023 to July 2023, import prices remained at a lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was Switzerland ($62.5M per ton), while the price for Peru ($16.5M per ton) was amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Peru (+3.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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

Turkey

Data coverage:

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

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
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. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023

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

Turkey's July 2023 Gold Imports Surge by 42% to $2.8B

Turkey Gold Imports

Imports by Country

Import Prices by Country

Product coverage:

Country coverage:

Data coverage:

Reasons to buy this report:

1. INTRODUCTION

2. EXECUTIVE SUMMARY

3. MARKET OVERVIEW

4. MOST PROMISING PRODUCT

5. MOST PROMISING SUPPLYING COUNTRIES

6. MOST PROMISING OVERSEAS MARKETS

7. PRODUCTION

8. IMPORTS

9. EXPORTS

10. PROFILES OF MAJOR PRODUCERS

LIST OF TABLES

LIST OF FIGURES

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