Chile: Semi-Manufactured Gold Market 2025

Semi-Manufactured Gold Market Size in Chile

In 2022, the Chilean semi-manufactured gold market increased by 5.1% to $X, rising for the third consecutive year after four years of decline. Over the period under review, consumption enjoyed a temperate increase. Semi-manufactured gold consumption peaked in 2022 and is likely to see steady growth in the near future.

Semi-Manufactured Gold Production in Chile

In value terms, semi-manufactured gold production stood at $X in 2022 estimated in export price. Overall, production showed a precipitous curtailment. The most prominent rate of growth was recorded in 2017 with an increase of 83,218,000% against the previous year. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Semi-Manufactured Gold Exports

Exports from Chile

In 2019, overseas shipments of gold, in semi-manufactured forms decreased by 0% to X kg, falling for the second year in a row after three years of decline. Overall, exports faced a dramatic setback. The most prominent rate of growth was recorded in 2014 with an increase of 105% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2019, the growth of the exports remained at a somewhat lower figure.

In value terms, semi-manufactured gold exports surged to $X in 2019. In general, exports continue to indicate a sharp reduction. The most prominent rate of growth was recorded in 2014 when exports increased by 208% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2019, the growth of the exports remained at a lower figure.

Exports by Country

Argentina (X kg), the United States (X kg) and Panama (X kg) were the main destinations of semi-manufactured gold exports from Chile, with a combined 43% share of total exports.

From 2012 to 2019, the biggest increases were recorded for Argentina (with a CAGR of 0.0%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for semi-manufactured gold exported from Chile were Panama ($X), Italy ($X) and the United States ($X), together comprising 96% of total exports. The United Arab Emirates, Spain, Argentina and Switzerland lagged somewhat behind, together comprising a further 4.2%.

Spain, with a CAGR of -46.0%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2019, the average semi-manufactured gold export price amounted to $X per kg, with an increase of 47% against the previous year. Overall, the export price, however, saw a sharp contraction. The growth pace was the most rapid in 2014 when the average export price increased by 50%. Over the period under review, the average export prices attained the peak figure at $X per kg in 2015; however, from 2016 to 2019, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2019, amid the top suppliers, the country with the highest price was Panama ($X per kg), while the average price for exports to Switzerland ($X per kg) was amongst the lowest.

From 2012 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Panama (-38.7%), while the prices for the other major destinations experienced a decline.

Semi-Manufactured Gold Imports

Imports into Chile

In 2022, purchases abroad of gold, in semi-manufactured forms increased by 19% to X kg, rising for the third year in a row after two years of decline. Over the period under review, imports showed strong growth. The most prominent rate of growth was recorded in 2021 when imports increased by 78% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, semi-manufactured gold imports declined notably to $X in 2022. In general, imports recorded a strong increase. The growth pace was the most rapid in 2021 when imports increased by 3,457% against the previous year. As a result, imports reached the peak of $X, and then contracted rapidly in the following year.

Imports by Country

In 2022, Spain (X kg) constituted the largest semi-manufactured gold supplier to Chile, with a 63% share of total imports. Moreover, semi-manufactured gold imports from Spain exceeded the figures recorded by the second-largest supplier, the United States (X kg), fourfold. The third position in this ranking was held by China (X kg), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Spain amounted to +14.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+11.6% per year) and China (+7.2% per year).

In value terms, Switzerland ($X), Spain ($X) and the United States ($X) constituted the largest semi-manufactured gold suppliers to Chile, together comprising 93% of total imports. China and Italy lagged somewhat behind, together accounting for a further 6.9%.

In terms of the main suppliers, China, with a CAGR of +45.7%, recorded the highest growth rate of 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

In 2022, the average semi-manufactured gold import price amounted to $X per kg, dropping by -70.7% against the previous year. Over the period under review, the import price, however, saw resilient growth. The pace of growth appeared the most rapid in 2021 an increase of 1,901%. As a result, import price reached the peak level of $X per kg, and then shrank markedly in the following year.

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 Switzerland ($X per kg), while the price for Italy ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+35.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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