Belgium: Semi-Manufactured Gold Market 2025

Semi-Manufactured Gold Market Size in Belgium

In 2022, the Belgian semi-manufactured gold market was finally on the rise to reach $X for the first time since 2012, thus ending a nine-year declining trend. In general, consumption continues to indicate a pronounced increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Semi-Manufactured Gold Production in Belgium

In value terms, semi-manufactured gold production totaled less than $X in 2022 estimated in export price. Overall, production faced a deep downturn. The pace of growth was the most pronounced in 2016 with an increase of 91%. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

Semi-Manufactured Gold Exports

Exports from Belgium

In 2022, the amount of gold, in semi-manufactured forms exported from Belgium skyrocketed to X tons, rising by 448% on the previous year's figure. In general, exports posted a significant expansion. The pace of growth was the most pronounced in 2013 with an increase of 2,379%. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, semi-manufactured gold exports skyrocketed to $X in 2022. Over the period under review, exports posted a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of 2,231%. Over the period under review, the exports attained the maximum at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X tons) was the main destination for semi-manufactured gold exports from Belgium, with a 93% share of total exports. Moreover, semi-manufactured gold exports to the United Arab Emirates exceeded the volume sent to the second major destination, Switzerland (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United Arab Emirates amounted to +141.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (+27.4% per year) and the UK (-34.7% per year).

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for gold, in semi-manufactured forms exports from Belgium, comprising 63% of total exports. The second position in the ranking was held by Switzerland ($X), with a 31% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the United Arab Emirates stood at +91.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (+25.2% per year) and the UK (-49.5% per year).

Export Prices by Country

The average semi-manufactured gold export price stood at $X per kg in 2022, with a decrease of -63.1% against the previous year. In general, the export price showed a deep contraction. The pace of growth appeared the most rapid in 2016 an increase of 11%. Over the period under review, the average export prices attained the maximum at $X per kg in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Switzerland ($X per kg), while the average price for exports to the UK ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Egypt (+9.3%), while the prices for the other major destinations experienced a decline.

Semi-Manufactured Gold Imports

Imports into Belgium

In 2022, purchases abroad of gold, in semi-manufactured forms was finally on the rise to reach X tons after two years of decline. Over the period under review, imports, however, saw a deep contraction. The pace of growth was the most pronounced in 2019 when imports increased by 13%. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, semi-manufactured gold imports surged to $X in 2022. Overall, imports, however, showed a deep downturn. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Switzerland (X tons), Suriname (X tons) and Brazil (X tons) were the main suppliers of semi-manufactured gold imports to Belgium, together accounting for 52% of total imports.

From 2012 to 2022, the biggest increases were recorded for Switzerland (with a CAGR of +34.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X), Suriname ($X) and South Africa ($X) constituted the largest semi-manufactured gold suppliers to Belgium, with a combined 74% share of total imports. Switzerland, Germany, the Netherlands, France and Portugal lagged somewhat behind, together comprising a further 17%.

In terms of the main suppliers, Switzerland, with a CAGR of +25.4%, recorded 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, surging by 21% against the previous year. Overall, the import price, however, showed a perceptible slump. The most prominent rate of growth was recorded in 2016 when the average import price increased by 22%. The import price peaked at $X per kg in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 Brazil ($X per kg), while the price for France ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+1.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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