Denmark: Gold Market 2025

Gold Market Size in Denmark

After two years of growth, the Danish gold market decreased by -61.3% to $X in 2021. Overall, consumption, however, recorded a buoyant increase. As a result, consumption attained the peak level of $X, and then plummeted in the following year.

Gold Production in Denmark

In value terms, gold production fell dramatically to $X in 2021 estimated in export price. Over the period under review, production, however, saw a abrupt decrease. The pace of growth appeared the most rapid in 2019 with an increase of 321% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2021, production growth remained at a lower figure.

Gold Exports

Exports from Denmark

In 2021, the amount of gold exported from Denmark reduced notably to X tons, shrinking by -20.3% compared with the previous year's figure. Overall, exports, however, recorded measured growth. The most prominent rate of growth was recorded in 2020 when exports increased by 306%. Over the period under review, the exports reached the peak figure at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, gold exports surged to $X in 2021. Over the period under review, exports faced a abrupt curtailment. The pace of growth appeared the most rapid in 2017 with an increase of 194%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X tons), Norway (X kg) and Germany (X kg) were the main destinations of gold exports from Denmark, together comprising 86% of total exports. These countries were followed by Iceland, Turkey, the UK and France, which together accounted for a further 11%.

From 2012 to 2021, the biggest increases were recorded for Iceland (with a CAGR of +55.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) remains the key foreign market for gold exports from Denmark, comprising 81% of total exports. The second position in the ranking was held by Germany ($X), with a 14% share of total exports. It was followed by Turkey, with a 2.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United Arab Emirates amounted to +1.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-25.3% per year) and Turkey (-16.6% per year).

Export Prices by Country

In 2021, the average gold export price amounted to $X per kg, rising by 64% against the previous year. Over the period under review, the export price, however, continues to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2016 when the average export price increased by 302% against the previous year. The export price peaked at $X per kg in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per kg), while the average price for exports to Norway ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to France (-0.5%), while the prices for the other major destinations experienced a decline.

Gold Imports

Imports into Denmark

In 2021, purchases abroad of gold decreased by -84.9% to X tons for the first time since 2018, thus ending a two-year rising trend. In general, imports showed a noticeable setback. The growth pace was the most rapid in 2020 when imports increased by 403%. As a result, imports attained the peak of X tons, and then dropped notably in the following year.

In value terms, gold imports skyrocketed to $X in 2021. Overall, imports, however, continue to indicate a strong expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Germany (X tons) constituted the largest gold supplier to Denmark, accounting for a 82% share of total imports. Moreover, gold imports from Germany exceeded the figures recorded by the second-largest supplier, Switzerland (X kg), tenfold. The UK (X kg) ranked third in terms of total imports with a 3.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (+28.6% per year) and the UK (-0.2% per year).

In value terms, the largest gold suppliers to Denmark were Germany ($X), Switzerland ($X) and the UK ($X), with a combined 96% share of total imports.

Switzerland, with a CAGR of +76.6%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average gold import price stood at $X per kg in 2021, with an increase of 1,179% against the previous year. In general, the import price posted buoyant growth. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 2021, the most notable rate of growth in terms of prices was attained by Switzerland (+37.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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