Africa: Semi-Manufactured Gold Market 2024

Semi-Manufactured Gold Market Size in Africa

In 2022, the African semi-manufactured gold market was finally on the rise to reach $X after two years of decline. Over the period under review, consumption recorded a strong expansion. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Semi-Manufactured Gold Production in Africa

In value terms, semi-manufactured gold production declined modestly to $X in 2022 estimated in export price. The total production indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +67.9% against 2015 indices. The pace of growth appeared the most rapid in 2020 when the production volume increased by 20% against the previous year. Over the period under review, production hit record highs at $X in 2021, and then fell slightly in the following year.

Semi-Manufactured Gold Exports

Exports in Africa

After five years of growth, overseas shipments of gold, in semi-manufactured forms decreased by -10.8% to X tons in 2022. In general, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when exports increased by 23% against the previous year. The volume of export peaked at X tons in 2021, and then dropped in the following year.

In value terms, semi-manufactured gold exports reduced to $X in 2022. Over the period under review, exports, however, continue to indicate slight growth. The growth pace was the most rapid in 2019 when exports increased by 44% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then declined in the following year.

Exports by Country

In 2022, Ghana (X tons), distantly followed by South Africa (X tons), Burkina Faso (X tons), Uganda (X tons) and Zimbabwe (X tons) represented the major exporters of gold, in semi-manufactured forms, together comprising 93% of total exports. The following exporters - Namibia (X tons) and Mauritania (X tons) - each recorded a 3.8% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Uganda (with a CAGR of +60.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest semi-manufactured gold supplying countries in Africa were Ghana ($X), South Africa ($X) and Burkina Faso ($X), with a combined 76% share of total exports. Zimbabwe, Uganda, Namibia and Mauritania lagged somewhat behind, together comprising a further 21%.

In terms of the main exporting countries, Uganda, with a CAGR of +68.6%, 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 export price in Africa amounted to $X per kg, declining by -1.7% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the export price increased by 17% against the previous year. Over the period under review, the export prices hit record highs at $X per kg in 2021, and then reduced slightly in the following year.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Burkina Faso ($X per kg) and South Africa ($X per kg), while Uganda ($X per kg) and Mauritania ($X per kg) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uganda (+4.9%), while the other leaders experienced more modest paces of growth.

Semi-Manufactured Gold Imports

Imports in Africa

In 2022, overseas purchases of gold, in semi-manufactured forms decreased by -13.2% to X tons, falling for the fourth consecutive year after two years of growth. In general, imports, however, recorded significant growth. The growth pace was the most rapid in 2017 with an increase of 2,645%. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, semi-manufactured gold imports fell slightly to $X in 2022. Over the period under review, imports, however, recorded a significant expansion. The pace of growth appeared the most rapid in 2019 with an increase of 159%. Over the period under review, imports attained the peak figure at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

South Africa was the largest importer of gold, in semi-manufactured forms in Africa, with the volume of imports reaching X tons, which was near 84% of total imports in 2022. It was distantly followed by Uganda (X tons), constituting a 15% share of total imports.

South Africa was also the fastest-growing in terms of the gold, in semi-manufactured forms imports, with a CAGR of +92.2% from 2012 to 2022. At the same time, Uganda (+10.6%) displayed positive paces of growth. From 2012 to 2022, the share of South Africa increased by +82 percentage points.

In value terms, Uganda ($X) constitutes the largest market for imported gold, in semi-manufactured forms in Africa, comprising 73% of total imports. The second position in the ranking was held by South Africa ($X), with a 25% share of total imports.

In Uganda, semi-manufactured gold imports expanded at an average annual rate of +21.8% over the period from 2012-2022.

Import Prices by Country

In 2022, the import price in Africa amounted to $X per kg, with an increase of 15% against the previous year. Over the period under review, the import price, however, saw a abrupt decrease. The pace of growth was the most pronounced in 2019 when the import price increased by 159%. The level of import peaked at $X per kg in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Uganda ($X per kg), while South Africa totaled $X per kg.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (+11.4%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :