Benelux: Semi-Manufactured Gold Market 2025

Semi-Manufactured Gold Market Size in Benelux

In 2022, after two years of decline, there was significant growth in the Benelux semi-manufactured gold market, when its value increased by 64% to $X. Overall, consumption, however, continues to indicate a abrupt descent. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Semi-Manufactured Gold Production in Benelux

In value terms, semi-manufactured gold production skyrocketed to $X in 2022 estimated in export price. Overall, production posted a prominent increase. The pace of growth was the most pronounced in 2013 when the production volume increased by 515%. Over the period under review, production reached the maximum level at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Semi-Manufactured Gold Exports

Exports in Benelux

In 2022, the amount of gold, in semi-manufactured forms exported in Benelux skyrocketed to X tons, picking up by 336% on 2021. Overall, exports saw a buoyant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, semi-manufactured gold exports soared to $X in 2022. Over the period under review, exports posted prominent growth. The most prominent rate of growth was recorded in 2013 with an increase of 312% against the previous year. The level of export peaked at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Belgium prevails in exports structure, reaching X tons, which was approx. 93% of total exports in 2022. It was distantly followed by Luxembourg (X tons), comprising a 5.6% share of total exports. The Netherlands (X tons) followed a long way behind the leaders.

Belgium was also the fastest-growing in terms of the gold, in semi-manufactured forms exports, with a CAGR of +45.1% from 2012 to 2022. Luxembourg (-11.3%) and the Netherlands (-11.9%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Belgium increased by +84 percentage points.

In value terms, Belgium ($X) remains the largest semi-manufactured gold supplier in Benelux, comprising 78% of total exports. The second position in the ranking was taken by Luxembourg ($X), with a 17% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Belgium amounted to +22.5%. The remaining exporting countries recorded the following average annual rates of exports growth: Luxembourg (-2.9% per year) and the Netherlands (-15.7% per year).

Export Prices by Country

In 2022, the export price in Benelux amounted to $X per kg, shrinking by -60.1% against the previous year. Over the period under review, the export price showed a deep contraction. The growth pace was the most rapid in 2013 an increase of 81% against the previous year. The level of export peaked at $X per kg in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Luxembourg ($X per kg), while Belgium ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Luxembourg (+9.4%), while the other leaders experienced a decline in the export price figures.

Semi-Manufactured Gold Imports

Imports in Benelux

In 2022, approx. X tons of gold, in semi-manufactured forms were imported in Benelux; surging by 8.1% compared with the previous year. In general, imports, however, recorded a abrupt setback. The pace of growth appeared the most rapid in 2019 with an increase of 21%. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, semi-manufactured gold imports rose modestly to $X in 2022. Over the period under review, imports, however, recorded a deep slump. The growth pace was the most rapid in 2019 with an increase of 28% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Belgium was the major importing country with an import of around X tons, which recorded 80% of total imports. Luxembourg (X tons) held a 12% share (based on physical terms) of total imports, which put it in second place, followed by the Netherlands (8.2%).

Belgium was also the fastest-growing in terms of the gold, in semi-manufactured forms imports, with a CAGR of -6.5% from 2012 to 2022. The Netherlands (-10.8%) and Luxembourg (-21.2%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Belgium increased by +30 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Belgium ($X) constitutes the largest market for imported gold, in semi-manufactured forms in Benelux, comprising 80% of total imports. The second position in the ranking was held by Luxembourg ($X), with a 10% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in Belgium amounted to -9.7%. In the other countries, the average annual rates were as follows: Luxembourg (-13.2% per year) and the Netherlands (-6.4% per year).

Import Prices by Country

In 2022, the import price in Benelux amounted to $X per kg, which is down by -4.1% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.0%. The growth pace was the most rapid in 2021 when the import price increased by 25% against the previous year. Over the period under review, import prices hit record highs at $X per kg in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($X per kg), while Luxembourg ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Luxembourg (+10.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform