Eastern Asia: Semi-Manufactured Gold Market 2024

Semi-Manufactured Gold Market Size in Eastern Asia

The East Asian semi-manufactured gold market surged to $X in 2022, rising by 21% against the previous year. The market value increased at an average annual rate of +1.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the peak level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Semi-Manufactured Gold Production in Eastern Asia

In value terms, semi-manufactured gold production soared to $X in 2022 estimated in export price. The total production indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -11.8% against 2020 indices. The pace of growth was the most pronounced in 2020 when the production volume increased by 46%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Semi-Manufactured Gold Exports

Exports in Eastern Asia

In 2022, semi-manufactured gold exports in Eastern Asia contracted sharply to X tons, waning by -23.3% against the previous year. Overall, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 75%. As a result, the exports reached the peak of X tons, and then reduced rapidly in the following year.

In value terms, semi-manufactured gold exports reduced to $X in 2022. Over the period under review, exports, however, recorded a notable increase. The most prominent rate of growth was recorded in 2020 when exports increased by 42% against the previous year. The level of export peaked at $X in 2021, and then shrank in the following year.

Exports by Country

Japan represented the main exporting country with an export of about X tons, which recorded 51% of total exports. Hong Kong SAR (X tons) ranks second in terms of the total exports with a 17% share, followed by China (17%), South Korea (9.8%) and Taiwan (Chinese) (4.6%).

Exports from Japan decreased at an average annual rate of -3.4% from 2012 to 2022. At the same time, Hong Kong SAR (+17.4%), China (+15.0%) and Taiwan (Chinese) (+4.0%) displayed positive paces of growth. Moreover, Hong Kong SAR emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +17.4% from 2012-2022. By contrast, South Korea (-4.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China and Hong Kong SAR increased by +17 and +14 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest semi-manufactured gold supplying countries in Eastern Asia were Japan ($X), China ($X) and Hong Kong SAR ($X), together comprising 85% of total exports.

In terms of the main exporting countries, China, with a CAGR of +22.4%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Eastern Asia stood at $X per kg in 2022, with an increase of 19% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.7%. The pace of growth appeared the most rapid in 2020 when the export price increased by 42% against the previous year. As a result, the export price attained the peak level of $X per kg. From 2021 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was China ($X per kg), while Hong Kong SAR ($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 (+6.4%), while the other leaders experienced more modest paces of growth.

Semi-Manufactured Gold Imports

Imports in Eastern Asia

In 2022, approx. X tons of gold, in semi-manufactured forms were imported in Eastern Asia; waning by -31.4% on 2021 figures. Overall, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when imports increased by 264% against the previous year. As a result, imports attained the peak of X tons. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, semi-manufactured gold imports declined significantly to $X in 2022. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of 258% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Taiwan (Chinese) (X tons) and China (X tons) were the major importers of gold, in semi-manufactured forms in 2022, recording approx. 38% and 34% of total imports, respectively. Hong Kong SAR (X tons) ranks next in terms of the total imports with a 16% share, followed by South Korea (7.7%). Japan (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Hong Kong SAR (with a CAGR of +2.1%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, Taiwan (Chinese) ($X), China ($X) and Hong Kong SAR ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for 92% of total imports.

Hong Kong SAR, with a CAGR of +3.2%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

The import price in Eastern Asia stood at $X per kg in 2022, shrinking by -4.6% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 25% against the previous year. As a result, import price attained the peak level of $X per kg, and then reduced modestly in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was China ($X per kg), while South Korea ($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 (+4.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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