Denmark: Semi-Manufactured Gold Market 2024

Semi-Manufactured Gold Market Size in Denmark

After three years of growth, the Danish semi-manufactured gold market decreased by -19.8% to $X in 2022. Overall, consumption, however, posted a resilient increase. Semi-manufactured gold consumption peaked at $X in 2021, and then contracted sharply in the following year.

Semi-Manufactured Gold Production in Denmark

In value terms, semi-manufactured gold production amounted to $X in 2022 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the production volume increased by 5,673,880,100% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Semi-Manufactured Gold Exports

Exports from Denmark

In 2022, after two years of growth, there was significant decline in shipments abroad of gold, in semi-manufactured forms, when their volume decreased by -86.8% to X kg. Over the period under review, exports continue to indicate a sharp reduction. The growth pace was the most rapid in 2017 with an increase of 992%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, semi-manufactured gold exports reduced rapidly to $X in 2022. In general, exports continue to indicate a abrupt setback. The pace of growth appeared the most rapid in 2017 with an increase of 534% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X kg) was the main destination for semi-manufactured gold exports from Denmark, accounting for a 51% share of total exports. Moreover, semi-manufactured gold exports to the United Arab Emirates exceeded the volume sent to the second major destination, Turkey (X kg), threefold. The third position in this ranking was taken by Iceland (X kg), with a 16% share.

From 2012 to 2022, the average annual growth rate of volume to the United Arab Emirates totaled +235.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (-6.9% per year) and Iceland (+29.2% per year).

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for gold, in semi-manufactured forms exports from Denmark, comprising 73% of total exports. The second position in the ranking was held by Turkey ($X), with a 24% share of total exports. It was followed by Iceland, with a 1.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United Arab Emirates stood at +661.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+25.4% per year) and Iceland (+29.8% per year).

Export Prices by Country

The average semi-manufactured gold export price stood at $X per kg in 2022, surging by 490% against the previous year. Overall, the export price saw significant growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per kg), while the average price for exports to Faroe Islands ($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 the United Arab Emirates (+126.9%), while the prices for the other major destinations experienced more modest paces of growth.

Semi-Manufactured Gold Imports

Imports into Denmark

In 2022, after three years of growth, there was significant decline in supplies from abroad of gold, in semi-manufactured forms, when their volume decreased by -7% to X tons. Overall, imports, however, posted a resilient increase. The most prominent rate of growth was recorded in 2020 when imports increased by 162%. Over the period under review, imports hit record highs at X tons in 2021, and then contracted in the following year.

In value terms, semi-manufactured gold imports surged to $X in 2022. Over the period under review, imports, however, recorded a prominent increase. The growth pace was the most rapid in 2020 when imports increased by 76% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to continue growth in years to come.

Imports by Country

In 2022, Germany (X tons) constituted the largest supplier of semi-manufactured gold to Denmark, accounting for a 75% share of total imports. Moreover, semi-manufactured gold imports from Germany exceeded the figures recorded by the second-largest supplier, Switzerland (X kg), eightfold. The third position in this ranking was held by the United Arab Emirates (X kg), with a 9.7% share.

From 2012 to 2022, the average annual growth rate of volume from Germany totaled +28.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (+37.5% per year) and the United Arab Emirates (+81.4% per year).

In value terms, the largest semi-manufactured gold suppliers to Denmark were Germany ($X), Switzerland ($X) and the United Arab Emirates ($X), with a combined 92% share of total imports.

The United Arab Emirates, with a CAGR of +178.0%, saw the highest rates of growth with regard to the value of imports, among the main suppliers 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, jumping by 33% against the previous year. Overall, import price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, semi-manufactured gold import price increased by +98.4% against 2020 indices. The pace of growth appeared the most rapid in 2021 an increase of 49% against the previous year. Over the period under review, average import prices hit record highs at $X per kg in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Switzerland ($X per kg), while the price for Sweden ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+53.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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